Scope of Audit
An audit was conducted on the accounts and operations of the Municipal Government of
Bindoy for CY 2024. The audit consisted of a review of operating procedures, evaluation of
the LGU’s programs and projects, interview of concerned government officials and
employees, verification, reconciliation, confirmation, inspection, and analysis of accounts,
and such other procedures considered necessary.
Financial Highlights
A comparative analysis of the Statement of Financial Position, as illustrated below, showed
increases in assets, liabilities, and equity:
2024 2023 Increase
Accounts
(in ₱) (in ₱) (Decrease)
Assets 634,029,643.75 563,719,326.01 70,310,317.74
Liabilities 94,144,811.94 63,506,794.24 30,638,017.70
Equity 539,884,831.81 500,212,531.77 39,672,300.04
On the other hand, the Statement of Financial Performance reflects decreases in revenue and
surplus, as well as increases in expenses, as shown below:
2024 2023 Increase
Accounts
(in ₱) (in ₱) (Decrease)
Revenue 206,054,186.60 192,818,195.35 13,235,991.25
Personnel Services 68,449,605.80 71,197,213.98 (2,747,608.18)
MOOE 125,086,314.52 78,160,632.99 46,925,681.53
Non-Cash Expenses 9,601,421.73 8,537,341.53 1,064,080.20
Financial Expenses 0.00 0.00 0.00
Transfers, Assistance, and
38,145,335.83 5,929,755.01 32,215,580.82
Subsidy From
Transfers, Assistance, and
2,770,438.48 6,660,030.00 (3,889,591.52)
Subsidy To
Net Profit/(Loss) 38,291,741.90 34,192,731.86 4,099,010.04
The following table illustrates increases in the final budget or appropriations and actual
amounts or obligations during the year:
2024 2023 Increase
Particulars
(in ₱) (in ₱) (Decrease)
Final Budget 210,321,124.55 232,303,710.08 (21,982,585.53)
Actual Amounts 177,103,316.12 180,581,574.63 (3,478,258.51)
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