b. To record the corresponding depreciation expenses for the current and prior years:
Account Name Account Debit Credit
Code
Prior Period Adjustment 3-01-01-020 7,794,223.89
Accumulated Depreciation –
1-07-03-011 5,281,133.79
Road Networks
Accumulated Depreciation –
1-07-03-041 1,888,802.48
Water Supply System
Accumulated Depreciation –
1-07-04-011 624,287.62
Buildings
We further recommended that the Municipal Accountant and the Municipal Engineer
regularly monitor the Municipality’s CIP accounts to ensure the timely transfer of
completed projects to the appropriate PPE accounts.
Lastly, we recommended that the Municipal Accountant direct the personnel in charge to
prepare individual subsidiary ledgers for each project to ensure proper recording and
monitoring.
Summary of Total Suspensions, Disallowances, and Charges
The Notices of Suspension and Disallowance showed the following balances as of December
31, 2024:
Beginning Issued this Period Ending
Particulars Balance (01/01/2024 to 12/31/2024) Balance
(01/01/2024) NS/ND/NC NSSDC (12/31/2024)
Suspension ₱1,969,125.08 ₱ 0.00 ₱ 0.00 ₱1,969,125.08
Disallowances 2,431,500.00 0.00 0.00 2,431,500.00
Charges 0.00 0.00 0.00 0.00
Total ₱4,400,625.08 ₱ 0.00 ₱ 0.00 ₱4,400,625.08
Status of Implementation of Prior Years’ Audit Recommendations
Out of the 61 recommendations embodied in the previous years’ Annual Audit
Reports, 7 were implemented and the remaining 54 were unimplemented.
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