16. She further explained that the office has already submitted a proposed organizational
structure to create accountant positions to prepare reports because the head of the office
is currently loaded with overseeing the daily transactions and is unable to personally
prepare the required reports.
17. Additionally, the accounting office do not have any computerized accounting system. A
request was made to enroll with ECPAC Systems for its Financial Management
Information System (FMIS) which is expected to facilitate timely reports. The office is
also awaiting a response from the Commission on Audit (COA) – Government
Accounting Systems Development and Other Services Office (ASDOSO) regarding their
request for face-to-face training on the electronic New Government Accounting System
(eNGAS).
18. Delegating the various tasks to the different personnel within the Accounting Office is
commendable, as it promotes efficiency and ensures that work is distributed
appropriately. However, the overall responsibility for the preparation and timely
submission of financial reports ultimately rests with the City Accountant. Thus, the
delayed submission of the reports reflects a lapse in oversight and accountability,
highlighting the need for improved internal controls, clearer task monitoring, and possibly
additional staffing support to meet reporting deadlines.
Financial assistance to cooperatives or non-governmental organizations/people’s organization
(NGOs/POs)
The financial assistance to cooperatives or NGOs/POs totalling ₱25,902,562.15 as of June
30, 2024, of which ₱22,052,352.15 remained outstanding for more than five years, were
recorded under Loans Receivable – Others account which is not in accordance with COA
Circular No. 2015-009 dated December 1, 2015, thus affecting the fair presentation of the
Loans Receivable account in the Statement of Financial Position and suggesting lapses in
monitoring and follow-up of unpaid balance.
19. COA Circular No. 2015-009 dated December 1, 2015 prescribes the Revised Chart of
Accounts for LGUs. This includes accounts to comply with the requirements of
Philippine Public Sector Accounting Standards and the retention of the accounts under
the accrual accounting provided in the NGAS. Annex B thereof provides the following:
❑ Loans Receivable – Others (1-03-01-990)
o This account is used to record amounts of credit extended to debtors not
otherwise specifically classified. Credit this account for receipt of loan
repayments.
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