some may have died or been disposed of through sale. However, the
absence of detailed and updated records prevents us from verifying these
occurrences, raising concerns regarding the accuracy and reliability of the
reported balances.
(c) Non-maintenance of required work, other animals and breeding stocks
ledger and property cards
8.2.9 Sections 12 and 46 of the NGAS Manual, Volume II prescribe the ledgers
and reports that must be maintained for work, other animals, and breeding
stocks, as follows:
• Work, Other Animals and Breeding Stocks Ledger Card (WOABSLC)
– kept for each large cattle which includes cows, horses, mules, asses,
carabaos and other members of the bovine family, acquired by
purchase or raised which attained the age of one year. Small animals
like pigs, goats, etc. shall also be singly recorded in this form and
taken-up as inventory upon reaching marketable age or are ready for
use.
• Work, Other Animals and Breeding Stocks Property Card
(WAOBSPC) – shall be used by the Property Office to record details
on the acquisition, birth of offspring and disposition of work, other
animals and breeding stocks.
8.2.10 Our inquiry with the City Accountant revealed that, although a subsidiary
ledger for breeding stocks was maintained, the records were just lumped
into a single account. Individual subsidiary ledgers for each animal had
not yet been created.
8.2.11 Furthermore, our inquiry with the CGSO revealed that they had not yet
maintained the WOABSPC, which is intended to document details on the
acquisition, birth of offspring, and disposition of the City's breeding
stocks. However, they did keep a general listing of the breeding stocks.
8.2.12 As a result, the existence, condition, and reliability of the Biological
Assets account balance cannot be fully ascertained.
(d) Lack of recognition and measurement of stocks
8.2.13 So far, the City Agriculturist had not yet fully complied with the
requirement to provide an inventory of breeding stocks and other
biological assets, along with their prevailing market prices as of the
reporting date. This is mandated by the provisions of COA Circular No.
2016-004. As a result, these accounts were not reported at fair value less
costs to sell, which is not in accordance with IPSAS No. 27.
8.3 Consequently, the accuracy of the Breeding Stocks account cannot be determined
with certainty.
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