4.11. We recommended and the Municipal Agriculturist agreed to:
4.11.1. Conduct an inventory of breeding stocks as of the end of each year and
thereafter render a report including the fair market value of these items
to the Municipal Accountant, for proper recording in the books of the
LGU; and
4.11.2. Keep a systematic record of the Municipality’s breeding stocks,
reporting births, deaths, and disposal, and in case of death and disposal,
facilitate request for relief of accountability in accordance with COA
Circular No. 92-386 dated October 20, 1992, to appropriately drop the
amount from the books.
4.12. We further recommended and the Municipal Accountant agreed to disclose the
composition of the Biological Assets account in the Notes to Financial Statements
in accordance with IPSAS 27 to provide relevant information that may affect
the fairness of the presentation of the financial statements.
B. OTHER FINANCIAL-RELATED ISSUES
Local Disaster Risk Reduction and Management Fund (LDRRMF)
5. The unexpended balances of the LDRRMF from prior years amounting to
₱25,522,828.72 which were transferred to the Special Trust Fund (STF) were not
considered and integrated into the LDRRMFIP for CY 2024, contrary to Sections
5.1.2 and 5.1.15 of COA Circular No. 2012-002 dated September 12, 2012 and may
result in inefficiencies in allocating and utilizing funds for disaster risk reduction and
management efforts, as well as missed opportunities for disaster resilience and
preparedness initiatives.
5.1. Sections 5.1.2 and 5.1.15 of COA Circular No. 2012-002 dated September 12, 2012,
provide:
“5.1.2 A LDRRMFIP for the DRRM program shall be prepared annually. It
shall present the 30% allocation for QRF in lumpsum and the
allocation for disaster mitigation, prevention and preparedness with
details as to projects and activities to be funded. The LDRRMFIP shall
also include under a separate caption, the list of projects and activities
charged to the unexpended LDRRMF of previous years. Xxx.
5.1.15 The LDRRMFIP shall be reviewed and updated annually to include
the activities to be funded from the unexpended QRF and DRRMF-
MOOE of the previous years which were transferred to the Special
Trust Fund.”
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