(10) Record and post in index cards details of purchased furniture, fixtures, and
equipment, including disposal thereof, if any;
(11) Account for all issued requests for obligations and maintain and keep all records
and reports related thereto;
(12) Prepare journals and the analysis of obligations and maintain and keep all records
and reports related thereto; and
(13) Exercise such other powers and perform such other duties and functions as may
be provided by law or ordinance.
7. COA regulations regarding the submission of financial statements and reports include the
following:
1. Section 70 of the New Government Accounting System (NGAS) Manual for LGUs,
Volume I, states that the monthly pre-closing trial balance (TB) for each fund shall
be submitted not later than the twentieth day after the end of the month.
2. Item 4 of COA Circular No. 2010-001, dated March 2, 2010, states that the
Accountant must submit the year-end financial statements (FS) and schedules to
the Auditor on or before February 14 of each year.
3. Paragraph 7.2.1(a) of COA Circular No. 2009-006, dated September 15, 2009,
states that the Chief Accountant, Bookkeeper or other authorized officials
performing accounting and/or bookkeeping functions of the audited agency must
ensure that the reports and supporting documents submitted by the accountable
officers are provided to the Auditor within the first 10 days of the following month.
8. Consistent with the adoption of the Philippine Public Sector Accounting Standards
(PPSAS) in the LGUs, Section 3.4 of COA Circular No. 2016-004 dated September 30,
2016, prescribes the preparation of the financial statements (FS) as follows:
a. Statement of Financial Position;
b. Statement of Financial Performance;
c. Statement of Changes in Net Assets/Equity;
d. Cash Flow Statement;
e. Comparison Statement of Budget and Actual Amounts (SCBAA); and
f. Notes to Financial Statements.
9. In spite of the aforementioned regulations, the Audit Team noted that, as of May 27, 2025,
the City Accountant has not submitted the complete set of CY 2024 financial/accounting
reports and statements despite having sent demand letters on February 18, 2025 and
March 28, 2025 for the submission thereof. The status of submission, as of this writing,
is presented on the next page:
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