Amount Number of
per Project Date of Years Since
Project Cost
Subsidiary Status Completion Completion
Ledger Date
Extension/Completion of BHS at
3 998,245.80 998,245.80 Completed 03/03/20 4.83
Barangay Pal-ew
SUB-TOTAL - CIP - BUILDINGS AND
14,281,247.86
OTHER STRUCTURES
II. CIP - INFRASTRUCTURE ASSETS (1-07-10-020)
Cluster II Concreting Brgy. Sto. Niño
Road (intermittent section) and
4 15,985,138.20 15,985,138.20 Completed 07/18/14 10.46
Concreting of Sitio Inolocan, Bahian
Farm-to-Market Road (FMR)
Cluster I Concreting of Bolon Pal-ew
5 16,947,545.72 16,947,545.72 Completed 12/14/14 10.05
Road (Intermittent)
Cluster II - Concreting of Barangay Road
6 3,990,100.64 3,990,100.64 Completed 12/03/14 10.08
at Barangay San Isidro
Cluster A FMR Projects (FMR Carsadang
7 2,910,700.70 2,910,700.70 Completed 08/04/15 9.42
Daan, Brgy. Luca), Tanjay City
Road Rehabilitation/Regravelling of Sitio
8 1,235,456.20 1,235,456.20 Completed 03/10/16 8.82
Banlas, Azagra
Cluster D II River Control at Barangay I
9 2,988,383.29 2,988,383.09 Completed 02/20/14 10.87
(₱3M), Tanjay City
Construction of Flood Control Dike
10 7,999,303.54 7,999,303.54 Completed 10/27/20 4.18
along Tanjay River
Construction of Flood Control Dikes along
11 7,997,429.35 7,997,429.35 Completed 01/09/20 4.98
Tanjay River, San Isidro, Tanjay City
12 Drainage Canal Project, Tanjay City 9,990,346.89 9,990,346.89 Completed 04/29/24 0.67
Single-storey Science Laboratory
13 Building at Tanjay National High 1,270,829.57 1,270,829.57 Completed 03/27/09 15.78
School, Opao ***
Construction of Evacuation Center at Sitio
14 1,796,299.15 1,796,299.15 Completed 03/03/21 3.83
Ling-ab, San Miguel, Tanjay City ***
SUB-TOTAL - CIP - INFRASTRUCTURE
73,111,533.25
ASSETS
TOTAL-CIP ₱87,392,781.11
*** Item Nos. 13 and 14, totaling ₱3,067,128.72, were erroneously recorded as CIP-Infrastructure Assets instead of CIP-Buildings and
Other Structures
4.7. As shown in the foregoing table, one project was even completed back in CY 2009,
or 15.87 years as of the end of CY 2024. The Accounting personnel in charge of
preparing the necessary entries to transfer the completed projects from the TF to the
GF attributed this issue to the lack of adequate monitoring. Although the CEO
prepares quarterly reports on the status of project implementation, there was no
proper coordination or reconciliation with the Accounting Office to identify
completed projects. Furthermore, our verification of the accounting records
revealed that no subsidiary ledgers were maintained for the CIP projects; instead,
they were grouped together in one CIP account per asset classification, which greatly
hampered the prompt determination of the status of each project.
4.8. Consequently, the depreciation expenses for the completed projects totaling
₱29,358,125.96 as of December 31, 2024 were not recorded in the books, computed
using the straight-line depreciation method, as shown on the next page:
50
