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                                                                                                             STATUS OF
 REFERENCE               OBSERVATION                                RECOMMENDATION                        IMPLEMENTATION /
                                                                                                        RESULTS OF VALIDATION
2003 AAR     Real Properties covered by real         76. Require the Municipal officials concerned to          Unimplemented
             property tax declarations in the            ensure that all real properties owned by the
                                                                                                          The     real     properties
             name of the Municipality with an            Municipal government are properly
                                                                                                          declared in the name of the
             aggregate assessed value of                 recorded in the books and covered by valid
                                                                                                          LGU had not yet been
             ₱3,996,370.00 were not recorded in          documents showing legal ownership thereof.
                                                                                                          recorded in the books of
             the books, thus the value of the
                                                                                                          accounts because the
             Land account amounting to
                                                                                                          management had not yet
             ₱1,261,486.70 as at December 31,
                                                                                                          secured the deeds of
             2003, is not fairly presented and
                                                                                                          donation      and    other
             valid ownership of the Municipality
                                                                                                          documents to substantiate
             thereto could not also be established
                                                                                                          their ownership.
             in the absence of property deeds as
             required in Section 449 of the
             GAAM, Volume II.




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