Fund Latest Period Date Submitted Not Submitted
Submitted
General Fund June 2024 May 7, 2025 July – December 2024
Special Education December 2024 May 6, 2025
Fund
Trust Fund December 2024 March 21, 2025
10. According to the City Accountant, journalizing of the transactions under the General
Fund was done by different personnel in the accounting office. However, the
consolidation and review of the journal entries were made by one personnel other than
the Accountant, thus, causing the delay in the preparation of the financial reports.
11. It is important to emphasize that the City Accountant is solely responsible for the
preparation and submission of the financial statements as stipulated under Section 474
of R.A. No. 7160. Therefore, delegating such function to another personnel undermines
the accountability and integrity of the financial reporting process, and may result in
errors, delays, or non-compliance with established regulations and standards.
12. The failure to submit the required reports in a timely manner significantly hindered the
prompt audit and review of the City’s accounts for the purpose of ascertaining
Management’s compliance with rules and regulations and the propriety of its financial
transactions and of recommending agency improvement opportunities. Additionally, the
late submission of the FS compromised their relevance and timeliness, thereby
diminishing their effectiveness in providing crucial information for decision-making by
both Management and higher authorities.
13. More importantly, the absence of the FS prevents the Auditor from rendering an audit
opinion on the fair presentation of the FS as indicated in an Independent Auditor’s
Report. This could potentially affect the LGU’s eligibility to receive grants from the
national government or apply for loans from government financial institutions to fund
future projects and operations.
14. We recommended that the City Mayor ensure that the City Accountant perform her
mandated function in accordance with R.A. No. 7160, review the tasks assigned to
the personnel in the accounting office, and implement corrective measures to
address the bottle necks that hamper the timely preparation of the financial
statements and reports. Moreover, we recommended that the City Mayor suspend
the payment of salaries and other emoluments until the City Accountant has
complied with submission of the required reports.
15. The City Accountant said that various tasks were delegated to different personnel within
the accounting office. However, delay lies in the posting and consolidation of the various
transactions because the one responsible for recording the transactions still needs to
review and determine the appropriate accounts to where the charges should be recorded.
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