Note 6. Inventories
2024 2023
Inventory Held for Distribution
Welfare Goods for Distribution ₱ 260,446.00 ₱ 260,446.00
Agricultural and Marine Supplies for Distribution 1,065,794.00 1,065,794.00
Construction Materials for Distribution 58,275.00 58,275.00
Other Supplies and Materials for Distribution 1,783,815.12 251,640.00
Fuel, Oil and Lubricants Inventory 0.00 2,912,478.00
Agricultural and Marine Supplies Inventory 20,116.00 20,116.00
Other Supplies and Materials Inventory 67,577.75 67,577.75
Total Inventories ₱ 3,256,023.87 ₱ 4,636,326.75
Inventory is carried at acquisition cost.
Welfare Goods for distribution are foodstuff for the Disaster Risk Reduction and Management
Office intended to answer immediate needs in time of disaster and/or calamities.
Agricultural and Marines Supplies for Distribution composed of cows and goats breeding
animals for distributions. Inventory records and detail of recipient is with the Municipal
Agriculture Office. Booking for transfers of assets shall be made upon submission of the
complete list and inventory of beneficiary.
Note 7. Prepayments and Deferred Charges
Prepayments
Advances to Contractors ₱ 5,700,468.53 ₱ 226,701.15
Other Prepayments 9,710.10 9,710.10
Total Prepayments and Deferred Charges ₱ 5,710,178.63 ₱ 236,411.25
The amount of increased in Advances to Contractors account is due to the released of 15%
percent mobilization to Contractor for the construction of Multi-Purpose Hall Building at the
Plaza fronting the Municipal Hall building.
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