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Findings No.6 COA Annual Audit Report 2006

July 28, 2008

6. Disbursement vouchers, payrolls, official receipts and some reports were submitted beyond the reglementary period required under Sec. 8 of COA Circular No. 94-001 dated Jan. 20, 1994, thus resulting in the delay in the analysis, review and verification of the accounts, and consequently delaying information to management of deficiencies noted therein, if any.

Section 8 of COA Circular No. 94-001 dated January 20, 1994, provides:


“The Chief Accountant, Bookkeeper or other authorized official performing accounting and/or bookkeeping function of the audited agency shall ensure that (a) the reports as submitted by the accounting officers are immediately recorded in the books of accounts and submitted to the auditor within ten (10) days from such receipt, xxx”

As of February 27, 2007, the following disbursement vouchers, payrolls, official receipts and accounting reports were not submitted to the Auditor’s Office on time for verification.

ReportsUnsubmittedGeneral Fund (GF)Disbursement VoucherNov – Dec. 2006PayrollsNov – Dec. 2006Official ReceiptsNov – Dec. 2006Checks Disbursements

Journal

Nov – Dec 2006Cash Disbursements

Journal

Nov – Dec 2006Cash Receipts JournalNov – Dec. 2006Special Education FundDisbursement VouchersNov – Dec 2006PayrollsNov – Dec 2006Official ReceiptsNov – Dec 2006Checks Disbursements

Journal

Nov – Dec 2006Cash Disbursements

Journal

Nov – Dec 2006Cash Receipts JournalNov – Dec 2006Trust Fund Disbursements VouchersNov – Dec 2006PayrollsNov – Dec 2006Official ReceiptsNov – Dec 2006Checks Disbursements

Journal

Nov – Dec 2006Cash Disbursements

Journal

Nov – Dec 2006 Cash Receipts JournalNov – Dec 2006


The delayed/non-submission of the reports prevented the Auditor’s Office from conducting timely audit, hence deficiencies noted, if any, could not be relayed immediately to the management for corrective action.

RECOMMENDATION:

Remind the City Accountant to comply strictly the provision of COA Circular No. 94-001, Section 1 on the timely submission of the accounts so as not to delay examination and settlements of accounts.

Written by admin · Filed Under Commission on Audit, Valencia City 

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