Ref. Audit Observations Audit Recommendations Status of Implementation
development projects or other major 260 of RA No. 7160.
programs/projects/activities (PPAs).
(Reiterated under Finding No. 7, Part II
of this Report.)
AAR 39. Inventory of Biological Assets 71. We recommended that the Implemented
2018 including the prevailing market price Municipal Agriculturist establish
p.38 for each item as of reporting date was the actual status of the breeding
not submitted by the Municipal stocks under the dispersal program
Agriculturist to the Municipal by tracing the whereabouts and
Accountant as required under Section condition of the original breeding
4.5.1 of COA Circular No. 2016-004 stocks and their offspring, if any,
dated September 30, 2016, hence, the and render a report to the
existence and condition of the Municipal Accountant which
biological assets with total should include the fair market
acquisition cost of ₱3,614,257.00 value of each stock, for proper
could not be ascertained. Likewise, recording in the books of accounts.
the account balances were not fairly In case of death/loss of assets,
presented in the financial statements necessary adjusting entries shall be
in accordance with paragraph 16 of taken only after the issuance of a
the Philippine Public Sector credit notice arising from the result
Accounting Standards (PPSAS) No. of the evaluation of the relief from
27. accountability, if any.
AAR 40. Copies of perfected contracts 72. We recommended that, henceforth, Implemented
2018 together with the supporting Management furnish the Auditor
p.40 documents of at least seven with a copy of contracts together
infrastructure projects implemented with the supporting documents
in CY 2018 under the 20% within the reglementary period of
100
