GSO to conduct inventory of supply, equipment at SP
The city's General Services Office (GSO) will start today the inventory of supplies and equipment issued to the different offices of the Sangguniang Panlungsod (SP).
The inventory was requested by Vice Mayor Jed Mabilog to straighten the records of supplies and equipment in the different SP offices.
His move is also in response to the 2005 report of the Commission on Audit (COA) on the city's unaccounted Property and Plant Equipment (PPE). The unaccounted PPE amounted to P1,079,514,843.66.
The result of the 2005 audit report showed that of the city's total PPE of P1,134,165,139.07, the commission was only able to validate the amount of P54,650,295.41 or 4.82 percent using ocular inspection and verification of records.
The P1,079,514,843.66 unaccounted government properties constitute 95.18 percent of the total PPE. The report covers the city's balance sheet as of December 31, 2005. It was not immediately known whether the city government has corrected its failure.
The 2005 COA report said the inadequacy of the property records maintained by the GSO and Accounting Office did not permit the COA to use alternative audit procedures on some of the PPE items, thus 95.18 is still considered inaccurate and unreliable.
In the same audit report, the commission attributed the inaccuracy and unreliability of the total PPE in the absence of supporting documents and related property records maintained in the GSO.
The commission lamented that since 1992, no physical count of the city's PPE has been conducted to ascertain the actual existence of the PPE neither is there a system or activity at present to ensure reconciliation of the PPE by the GSO and the Accounting Office on a monthly/periodic basis.