Page 47 of 74

                                                                                                                                                     Appendix C



                                                                                    Agency Action Plan                                                    Action
                                                                                                                                        Reason for
                                                                                                       Target                                             Taken/
                                                                                                                       Status of     Partial/Delay/Non-
   Ref        Audit Observations          Audit Recommendations           Action   Person/Dept.    Implementation                                         Action
                                                                                                                    Implementation   Implementation, if
                                                                           Plan    Responsible          Date                                               to be
                                                                                                                                         applicable
                                                                                                  From To                                                 taken
            1, thereby affecting the
            fair presentation of the
            account in the FSs.

2021 AAR,   The               validity,   28. We recommended that
AO No. 1.   correctness            and        Management require
 page 28    existence     of      PPE         the City Accountant to
            account                  of       update the Ledger
2020 AAR,   ₱1,225,490,281.57 as of           Cards/Subsidiary
AO No. 2,   December 31, 2021,                Schedule of PPE and
 page 30    have not been fully               direct the Property and
            established at year-end           Accounting Units to
2018 AAR,   because: (a) the PPE              reconcile the results of
AO No. 1,   ledger     cards     were         the inventory count
 page 27    incomplete and not                with     the     related
            updated       by        the       property             and
2017 AAR,   Accounting Unit, and              accounting records in
AO No. 1,   (b) report of the                 accordance with the
 page 26    physical        inventory         pertinent provisions of
            taking was submitted              COA Circular No.
2016 AAR,   beyond the prescribed             2020-006          dated
AO No. 1,   period, resulting in non-         January 31, 2020 to
 page 25    reconciliation of the             ensure the accuracy of
            Report on the Physical            the reported PPE
            Count        of       PPE         balances      in     the
            (RPCPPE) and balances             financial statements.
            per accounting records,           Any       discrepancies
            contrary to Sections 120          noted       in        the
            and 124 of the Manual             reconciliation shall be
            on the New Government             adjusted in accordance
            Accounting         System         with Sections 7.0 and
            (NGAS) for Local                  8.0 of the same
            Government           Units        Circular as one-time