3.11. We furthermore recommended that Management adhere to Sections 246 and
248 of Republic Act (RA) No. 7160 and Section 20 of the Manual on the New
Government Accounting System (NGAS), Volume I, to ensure the timely and
reliable establishment of RPT and SET Receivables.
3.12. The Municipal Accountant committed to preparing the necessary adjusting entries if
there is any difference between the amounts established and the assessment roll, had
it been generated on or before December 31, 2023.
3.13. The Municipal Assessor stated that the Municipality's iTax System provides real-
time updates for all approved transactions and can be accessed by the Municipal
Treasurer’s Office. Hard copies can be easily printed if needed.
3.14. According to the Municipal Treasurer, he received the Assessment Roll in January
2024 and instructed the Municipal Assessor to provide it to the Municipal
Accountant as the basis for establishing the RPT and SET receivables.
3.15. During the exit conference, the department heads mentioned that they had checked
and found no difference in the receivable amount, had it been generated earlier in
the year.
3.16. The Auditor wishes to clarify that, contrary to the claim made by the Municipal
Treasurer that he received the Assessment Roll in January 2024, supporting
evidence attached to JEV No. 100-2024-11-6285-Z-18, specifically, a photocopy of
the Assessment Roll, indicates that it was actually received and signed by the
Treasurer on November 12, 2024. This document pertains to the recording of the
RPT Receivable for CY 2024 in November 2024.
Notes to Financial Statements
4. Inconsistent with Section 127 of International Public Sector Accounting Standards
(IPSAS) No. 1, the Notes to Financial Statements (FS) for CY 2024 did not correctly
present the current appropriation for the Local Disaster Risk Reduction and
Management Fund (LDRRMF), resulting in incomplete disclosure of vital
information in the financial statements.
4.1. Paragraph 127 of IPSAS No. 1- Presentation of Financial Statements states that the
notes shall:
“(a) Present information about the basis of preparation of the
financial statements and the specific accounting policies used.
(b) Disclose the information required by IPSASs (International
Public Sector Accounting Standards) that is not presented on the
face of the financial position, statement of financial
performance, statement of changes in net asset and equity, or
cash flow statement; and
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