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Welcome to our Sibalenhon Web Forum and feel free to share your views/outlooks for the development of our beloved island Sibale!

Maliy kamo, kita'y mag-kamustahan ag mag suyat it ato mga pananaw at kuro-koro, subaleng usa kina sa parayan adong lalung mapaganda pa nato ka ato pinalanggang banwa!

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Oct 23, 2007 - 12:27AM
Annual Audit Report for the Year 2005

Annual Audit Report on the Municipality of Concepcion, Romblon for the year ended December 31, 2005

Summary of Comments and Observations

1.Real Property Tax/Special Education Tax Receivables was not established at the beginning of the year due to failure to implement the provision of Section 20, Volume 1 of the Manual on the New Government Accounting System for Local Government Units

2.Property, Plant and Equipment balances totaling p9,213,868.36 as well as Supplies Inventory of P13,000.00 of the municipality are questionable due to non validation of its physical existence.

3.Non provision of depreciation for property, plant and equipment contradict Section 4 of Volume of the Manual on New Govt. Acctg. System

4.Cash in Vault of P1,393,790.94 were not deposited contrary to Sec. 32 of Vol.1 of the Manual on the New Govt. Acctg. System for Local Govt. Units exposing the amount to the risk of loss or possible misuse.

5.......

6.Shares of the barangays from the proceeds of the basic real property tax were not released to tthe respective barangays within 5 days after the end of each quater as required under Sec.271(d)of RA7160

7.Disbursement of funds were made despite incomplete documentary requirements and other evidences supporting the claims required under Sec. 38 vOL. 1 of the Manual on the New Govt.Acctg. System for Local Govt. Units.

8.Cash Advances due in the amt. of p37,421.89 remained umliquidated at year end contrary to the provisions of COA Circular No.97-002 dated February 10 1997 exposing the fund to possible loss or misuse

9.Receivables amounting to p1,004,989.67 was not collected thus depriving the municipality of additional funds for its priority programs and projects.

10........

11. Liabilities amounting to P2,081,581.48 remained unsettled/unremitted at year-end depriving recipient/entities the benefits to be derived therefrom as required under existing laws. rules and regulations...

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r
Ruston F
Oct 24, 2007 - 3:45PM
Re: Annual Audit Report for the Year 2005

It would be much appreciated if you could tell us if the present administration is conducting a partial investigation right now.
Rustom F

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