STATUS OF
REFERENCE OBSERVATION RECOMMENDATION IMPLEMENTATION /
RESULTS OF VALIDATION
COA Circular No. 2015-008 dated
5. Enjoin the Municipal Treasurer, Municipal Unimplemented
November 23, 2015, thereby,
Accountant, and Municipal Engineer to
affecting the fair presentation of the The required documents
strictly comply with the accounting and
account in the financial statements confirming compliance
reporting guidelines on the local roads asset
(FS). with the recommendation
management system pursuant to COA
were still pending
Circular No. 2015-008 dated October 23,
submission.
2015.
2023 AAR The Accounts Payable (A/P) balance 6. Management revert to the unappropriated Implemented
AO No. 3, of ₱6,918,234.38 as of December surplus of the General Fund the balance of the
Page 40 31, 2023, was not accurately undocumented Accounts Payables with no
presented in the Statement of valid claims pursuant to Section 98 of P.D.
Financial Position due to the No. 1445.
inclusion of undocumented
obligations without valid claims,
amounting to ₱4,248,633.58, that
have remained outstanding for more
than two years, which were not
reverted to the unappropriated
surplus, inconsistent with Section 98
of P.D. No. 1445.
2023 AAR Disclosures in the Notes to Financial 7. The Municipal Accountant revise the Notes Implemented
AO No. 4, Statements on “Loans Payable – to the Financial Statements to include the
Page 41 Domestic” account balance of principal amount, interest rate, maturity date,
₱68,261,228.62 is incomplete, a purpose of the loan, and interest expense of
departure from the fair presentation the Loans Payable - Domestic account.
requirement under the International
Public Sector Accounting Standards
(IPSAS) thus, affecting the
usefulness of the financial
information on loans to its users.
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