Appendix D
Status of
Ref Observations Recommendations
Implementation
before the statement
date.
2023 AAR PPE under the Trust Fund- 9. The City Accountant Unimplemented
AO No. 3 Local Government Support record the transfer of No action taken by
page 40 Fund (LGSF) totaling the various completed Management.
₱31,557,827.28 were not projects under the
transferred to the General Trust Funds-LGSF to
Fund nor provided with the General Fund and
depreciation allowances, compute the
contrary to Sections 97 and corresponding
104(i) on the New depreciation expenses
Government Accounting for these PPE accounts.
System (NGAS) Manual for
LGUs, Volume I, Paragraph
71 of IPSAS 17, and COA
Circular No. 2015-008
dated November 23, 2015,
thus resulting in the
understatement of the PPE
accounts and depreciation
expenses in the General
Fund.
2023 AAR Time Deposits maturing in 10. Management prepare Unimplemented
AO No. 4 less than 90 days, totaling a correcting entry No adjustment can
page 42 ₱200 million, were debiting Cash in be seen in the
erroneously classified as Bank-Local Currency, submitted financial
Cash in Bank- Local Time Deposits, and statements as of
Currency Savings Account crediting Cash in June 30, 2025.
instead of Cash in Bank- Bank-Local Currency
Local Currency Time Savings Account
Deposits under Cash and amounting to ₱250
Cash Equivalents, while million for the total
accounts with a 358-day amount placed under
maturity term amounting to time deposits and
₱50 million were direct the City
incorrectly presented under Accountant to present
Cash and Cash Equivalents investments in Time
instead of Investments, Deposits with
contrary to IPSAS 1 and 2, maturities of 90 days
resulting in the or less amounting to
overstatement of Cash and ₱200 million as Cash
Cash Equivalents by ₱150 and Cash Equivalents
million. while account with a
