Status of
Reference Observation Recommendations Implementation/
Result of Validation
2008 AAR; The City did not 72. The City Accountant to Not Implemented
AO No. 5; provide for request from the CGSO
Page No. depreciation of its for a list of assets Identification of
26 depreciable properties acquired from 2002 to depreciable assets
totaling 2007, to compute the purchased from CY 2002
₱153,106,904.06 depreciation expense for to 2007 is ongoing,
except for equipment all depreciable assets for although hampered by
acquired in 2008 in the current audit period lack of available
violation of Section as well as from 2002 up documents to support
04, Volume I of the to 2006 using the Prior adjustments in the books
NGAS Manual, Years’ Adjustment and of accounts.
thereby overstating the Accumulated
carrying value of Depreciation accounts
assets and understating in order to fairly present
the expenses for the the asset and equity
current and previous accounts in the financial
years starting 2002. statements.
2007 AAR The cost of completed 73. The City Accountant to Not Implemented
projects were not identify the composition
transferred to the of the portion of As of December 31,
General Fund books as government equity 2024, a total of ₱46.61M
required under Section representing the costs of were transferred from TF
104 of the Manual, the different completed to GF with the following
thus overstating Trust projects and fixed assets General Journal Journal
Fund equity by and transfer the same to Entry Vouchers:
₱48,719,909.98, the General Fund books.
although not affecting 100-2022-01-012
the City’s total equity. 100-2022-07-106
100-2022-07-107
100-2022-07-108
100-2022-07-109
100-2022-07-110
100-2022-07-232
100-2022-07-233
Ongoing retrieval of the
documents for the
balance of ₱2.09M.
2003 AAR; Balance of Due to 74. The City Accountant to Not Implemented
AO No. 6; Other Funds account effect the appropriate
Page No. did not reconcile with adjustments to reconcile Reconciliation took
29 the balance of Due accounts Due to Other some time because the
from Other Funds Funds and Due From CAO had to work back
account resulting to a Other Funds. from the prior years’
difference of records. Incomplete
₱652,687.08, thereby documents caused the
rendering the accounts delay in the
doubtful. reconciliation.
114
