Cebu Daily News / News

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Naga still to account for P68-M By Doris C. Bongcac Cebu Daily News Posted date: August 07, 2008 Funds and properties worth P68.8 million remain unaccounted for and may be considered misappropriated by the Naga City government, the Commission on Audit in Central Visayas (COA-7) warned yesterday. Regional auditors said they still could not determine the accuracy of the valuation record of Naga City’s properties, plants and equipment (PPE) since they were not backed by an annual inventory report. “It was learned from the City Treasurers Office staff that they could not determine the last time the agency conducted actual physical count of its PPE,” the audit report said. PPE reports which the Naga City Treasurer’s Office submitted to COA by year-end was only based on memorandum receipts on file and inventory records by the City Accounting Office. Meanwhile auditors said the salaries and honoraria of Naga city officials and employees worth P15.2 million paid from June to December last year exceeded the prescribed government ceiling by P252,758. COA-7 also said about P3.3 million in cash advances remained unliquidated as of Dec. 31, 2007 while collections worth P888,319 were not immediately deposited to a bank. The Naga City Treasurer’s Office replied by saying that owing to the nearest bank’s distance and the absence of a service vehicle, they were compelled to make only weekly bank deposits. Auditors called on Naga City Mayor Valdemar Choing to lend a vehicle for the City Treasurer’s Office. The mayor was also advised to create a committee that would conduct a physical inventory of their PPEs and to avoid use of any excess funds. Naga City officials and personnel were also required to liquidate their cash advances 30 days from use of funds to prevent sanctions.