Findings No.1 COA Annual Audit Report 2006

July 25, 2008

Due to the absence of operations manual for the rental of heavy/light equipments at the Provincial Motor pool, rentals amounting to P2,102,150.00 were not promptly collected and the receivables were not duly recorded in the books thus, Accounts Receivable and Other Deferred Credits Accounts in the Balance Sheet were understated contrary to the provision of Section 4a of the New Government Accounting System, Volume I. Read more

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Findings No.6 COA Annual Audit Report 2005

July 25, 2008

6. Properties with a total cost of P1,911,697.60 of the defunct SAIL Project were not included in property inventory report because an itemized invoice and receipt was not prepared when ownership was transferred to the provincial government notwithstanding Section 77 of PD 1445, hence property accountabilities were not established. Likewise, Property, Plant and Equipment account in the financial statements was understated.

Section 77 of PD 1445 provides that when government funds or property are transferred from one accountable officer to another, or from an outgoing officer to his successor, it shall be done upon properly itemized invoice and receipt which shall invariably support the clearance to be issued to the relieved or out-going officer, subject to regulations of the Commission.

The provincial government received properties and equipment with total cost of P1,911,697.60 from the defunct SAIL Project which were not included in the property inventory report. (Annex 5) Interview with the designated property officer disclosed that an itemized invoice and receipt was not prepared when said properties were turned over to the provincial government notwithstanding the cited regulation.

In effect, accountabilities of officers and employees who have actual custody of said properties were not established. Further, the Property, Plant and Equipment account was understated.

The accountant mentioned that an itemized invoice and receipt will be required to be prepared by employees previously detailed to said defunct office as basis in updating the recording the properties in the records and reports of the provincial government.

Recommendation:

Require the employees who were previously detailed to the defunct SAIL Project to prepare an invoice and receipt showing a complete itemization of properties transferred to the provincial government. Direct the Provincial General Service Officer to include said properties in the Property Inventory Report and the Provincial Accountant to update the recording of same in the books of accounts.

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Findings NO.5 COA Annual Audit Report 2005

July 25, 2008

5. Prior and current year balances on Due to BIR, GSIS, Pag-ibig and PhilHealth in the total amount of P 2,899,635.22 on all funds were not remitted as of December 31, 2005 in violation of Section 69 of PD 1445 and other regulations, thus concerned national and corporate agencies were deprived of generating additional income and utilization of the fund. Read more

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Findings No.4 COA Annual Audit Report 2005

July 25, 2008

4. The Provincial Treasurer did not enforce collections of P119,419.00 amount of penalties for late payments of lease, including rentals of the convention center of P48,500.00, thus depriving the provincial government of an additional income of P167,919.00 Read more

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Findings No.3 COA Annual Audit Report 2005

July 25, 2008

3. The result of financial operation of Ostrich Program was not established and monitored due to failure of the Provincial Accountant to maintain special account in General Fund and related Subsidiary Records for the said project not withstanding the requirements of Sections 105, 106 and 107 of the New Government Accounting System. Read more

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Findings No.2 COA Annual Audit Report 2005

July 25, 2008

2. Expenditures on fuel used in some infrastructure projects totaling P576,282.40 were automatically charged to expenses instead of having it capitalized as part of project cost, thus understating the Agency Asset and Public Infrastructure accounts and overstating the Gasoline, Oil and Lubricant Expense account. Read more

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Findings No.1 COA Annual Audit Report 2005

July 25, 2008

1. The Accounting Office did not maintain subsidiary ledgers of the individual proponents of Agriculture Office Livelihood Programs and other receivables, nor conduct periodic reconciliations of its records with those of the implementing offices and the Treasury, making its monitoring difficult. Likewise, the receivables of Spanish Assistance Integrated Livelihood Program in the total amount of P10.4 million has been outstanding for more than ten years and have no individual ledger cards, casting doubt on the probability of its collection. Read more

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Findings No.2 COA Annual Audigt Report 2004

July 25, 2008

2. Advances to officers and employees in the total amount P1,048,699.77 remained outstanding for more than a month or a year in violation of COA Circular No. 97-002 dated February 1, 1997.

COA Circular No. 97-002 dated February 1, 1997 requires that a cash advance be reported on as soon as purpose for which it was granted has been served. Officers and employees shall liquidate their cash advance for local travel within 30 days after return to his official station. Failure of said accountable officers to liquidate their cash advance within the prescribed period shall constitute valid cause for the withholding of his salary.

Verification of records disclosed that advances granted to officers and employees in the total amount of P1,048,699.77 remained outstanding for more than a month and even a year. (HYPERLINK “CamiguinProvince04_Annexes.xls” \l “Annex6″ \o “Annexes 6 – 8 “Annex 6-8)

Cash advances were still granted to an employee or official despite previous cash advances were not yet liquidated. Moreover, the requirement to withhold salary was not enforced to employees or officials who have long outstanding cash advances.

Management commented that despite constant follow-up made by their office to concerned employees, delay of liquidation was still encountered. The Office of the Provincial Treasurer had already coordinated with the Accounting Office to find solutions that the outstanding cash advances be settled at the earliest possible time.

Recommendation is well taken.

Recommendation:

Issue demand notices to all officials and employees who have outstanding advances beyond the prescribed period. Enforce liquidation by directing both the provincial accountant and the provincial treasurer to coordinate each other in order to effect through payroll deduction the amount of unliquidated cash advances due from the officials and employees concerned.

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Findings No1 COA Annual Audit Report 2004

July 25, 2008

1. Control records of cash in bank account is inadequate resulting to frequent incurrence of overdraft and discrepancy between cashbook and accounting records. Read more

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GMA, Romualdo lament Hanjin withdrawal of US$2B project

May 2, 2008

“It’s a sad Labor Day for our country this year.”

This was the statement issued by Camiguin Cong. Pedro Romualdo yesterday who confirmed that Pres. Gloria Macapagal-Arroyo had already been informed of Hanjin Heavy Industries Corp. (HHIC) decision to pull out its planned $2 billion shipyard investment from Villanueva, Misamis Oriental.

He said Arroyo who arrived at Camiguin yesterday was very sad by this latest development which would have meant the construction of a shipyard that would have been the second largest in the entire Asian continent offering no less than some 40,000 in terms of job opportunities alone.

But when asked on whether the President is now doing everything she can to bring Hanjin back or to somehow iron out the situation, Romualdo replied, “I cannot answer that as I do not want to pre-empt her (Arroyo)…but we are really asking everyone to help us.”

Some sources close to the President who requested anonymity said Arroyo is planning out some “damage control” as this situation would be sending the wrong message to investors.

For his part, Presidential Assistant for Northern Mindanao Jojo Popus said the Hanjin pull-out might not push through saying, “There is nothing definite yet.”

Romualdo who served as former Camiguin governor said the 40,000 additional jobs brought in by Hanjin would have meant an improvement in the living standards of not just the lives of 40,000 would-be employees and the economy of Northern Mindanao but the entire country.

“Kanang 40,000 jobs multiplied five times pa kana when you consider counting the members of every family who would have benefitted from the Hanjin project,” he told Gold Star Mindanao Daily in the dialect yesterday.

Former Cagayan de Oro City Mayor now Senator Aquilino Pimentel, Jr., Karapatan regional spokesperson Atty. Beverly Musni and Bayan regional spokesperson Kristine Lim were one in expressing their convictions that this Hanjin pull-out here is all a hoax.

They pointed out that this reports on Hanjin’s pull-out is suspect of a grand-scale plan to make sure that senators will not crack its whip on the Korean-based firm which is currently under investigation for allegedly violating environmental laws.

“Istorya lang kana (That is all talk),” Pimentel’s text message reads.

Musni for her part said, “I do not believe that Hanjin is really pulling out its project in Misamis Oriental. Sa binisaya pa padungang lang ni sa pusta. Posturing o hulga lang kini on its part to thwart the ongoing senate inquiry on Hanjin structures illegally erected at the heart of Subic’s forest.”

Lim echoed out their sentiments adding that “this sudden withdrawal from the project may be a relief but poses many questions.”

“Who will assume the project? Who will compensate the damages, disturbance caused to the farmers/residents? We call for accountability and just compensation,” her text message reads. (By Lizanilla J. Amarga)

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