January 1,
2023 2023 December 31, 2023 2024 December 31, 2024
Property, Plant and Equipment
Accu. Accu. Impair Accu.
Depreciation Impairment Disposal Net Book Value Depreciation Disposal Net Book Value
Depreciation Depreciation ment Depreciation
Construction in Progress-Infrastructure
Assets 92,662,591.26 107,344,129.63
Construction in Progress-Building and
Other Structures 36,486,980.12 47,712,134.94
Other Property, Plant and Equipment
Work/Zoo Animals (0.00) (0.00) 45,000.00 (0.00) (0.00) 45,000.00
Breeding Stocks 379,219.80 379,219.80
Other Property, Plant and Equipment (3,199,148.04) (386,806.07) (0.00) (4,001,339.33) 3,994,741.60 (416,206.78) (0.00) (4,417,546.11) 3,655,684.82
Intangible Asset
Other Intangible Assets (18,990.00)* (3,798.00)* (0.00) (22,788.00)* 19,412.00 (3,798.00)* (0.00) (26,586.00)* 15,614.00
Total (46,263,913.65) (9,324,906.01) (0.00) 4,404,127.47 (51,184,692.19) 516,921,934.90 (13,851,460.18) (0.00) 0.00 (73,581,965.86) 571,418,271.47
*Amortization
Annual depreciation is provided to depreciable assets on a straight-line method of computing depreciation based on their estimated useful economic life. Residual value
of 5% of asset were provided in computing annual depreciation. Fully depreciated assets were retained in the books of account due to LGU’s intention to continue its use in the
operation.
The LGU has a total of “no data available” kilometers of roads with a total cost of Php 149,095,838.93. For the year ended, the municipality spent a total of Php
32,543,649.02 for local road additions, Thus, for the construction or concreting of farm to market roads and improvements through concreting of existing roads as major repairs.
No reduction and derecognition was made and impairment due to the non-conduct or none submission of physical inventory report by the inventory committee created.
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