1.5 On March 28, 2025 and April 22, 2025, the Inventory Committee submitted the
ICF for movable and non-movable properties, respectively, and the Report on the
Physical Count of Local Road Network (RPCLRN) as of December 31, 2024. The
corresponding Reports on the Physical Count of Property, Plant and Equipment
(RPCPPEs) were also submitted.
1.6 The Statement of Financial Position as at December 31, 2024 reflected a total PPE
account balance (gross) of ₱2,460,632,084.90 excluding Construction in Progress.
Compared with the results of the inventory count, there was a net variance of
₱40,304,574.47 (Appendix F), as summarized in the table below:
Per ICF/
Account Group Per GL Variance
RPCLRN
Land ₱ 485,592,205.02 ₱ 485,592,205.02 ₱ 0.00
Land Improvements 4,379,410.50 4,379,410.50 0.00
Infrastructure Assets 1,140,383,314.26 1,139,636,028.00 747,286.26
Buildings and Other
432,043,541.39 411,086,090.24 20,957,451.15
Structures
Machinery and Equipment 325,416,780.17 309,872,016.86 15,544,763.31
Transportation Equipment 71,040,080.14 69,144,331.81 1,895,748.33
Furniture, Fixtures and
536,228.00 381,428.00 154,800.00
Books
Other Property, Plant and
1,240,525.42 236,000.00 1,004,525.42
Equipment
Total ₱ 2,460,632,084.90 ₱ 2,420,327,510.43 ₱ 40,304,574.47
1.7 The Accounting Office submitted its reconciliation of the variance between the
physical count and accounting records and it was noted that items totaling
₱19,531,243.91 could not be located or non-existing PPEs were identified, as
summarized below:
PPE Account Amount
Office Equipment ₱ 3,900,403.59
Information and Communication
5,178,192.00
Technology Equipment
Communication Equipment 451,422.00
Construction and Heavy Equipment 2,394,800.00
Disaster Response and Rescue Equipment 134,699.50
Military, Police and Security Equipment 123,500.00
Medical Equipment 404,235.00
Sports Equipment 156,632.40
Technical and Scientific Equipment 1,534,378.00
Other Equipment 1,000,000.00
Motor Vehicles 1,167,656.00
Watercrafts 1,926,000.00
Furniture and Fixtures 154,800.00
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