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Findings No.1 COA Annual Audit Report 2005

July 26, 2008

1. Management failed to conduct physical inventory of each plant, property and equipment totaling P1,198,755,302.70 in violation of Section 156, COA Circular No. 386 thus, valuation, validity and existence of the fixed assets could not be determined and ascertain. Read more

Written by admin · Filed Under Commission on Audit, Lanao del Norte | Leave a Comment 

Findings No.3 COA Annual Audit Report 2004

July 26, 2008

3. The management did not pay promptly their loan amortization which resulted to incurrence of additional expense of P47,793.79 representing interest expense. The practice is contrary to sound management. Read more

Written by admin · Filed Under Commission on Audit, Lanao del Norte | Leave a Comment 

Findings No.2 COA Annual Audit Report 2004

July 26, 2008

2. The management did not conduct physical inventory of each plant, property and equipment totaling P1.2 Million in violation of Section 156, COA Circular No. 386. Read more

Written by admin · Filed Under Commission on Audit, Lanao del Norte | Leave a Comment 

Findings No.1 COA Annual Audit Report 2004

July 26, 2008

1. Non-reconciliation between accounting records and the treasurer’s cashbook on Cash Accounts casts doubts on the validity and existence of the declared balances. Read more

Written by admin · Filed Under Commission on Audit, Lanao del Norte | Leave a Comment 

NFA-Lanao Norte creates Palengke Watch Team to monitor NFA rice

May 1, 2008

 

The provincial office of the National Food Authority (NFA-Lanao del Norte/ Iligan City) recently created a body that will make sure that people will be paying just the right amount of money for the price of rice they are buying from the National Food Authority (NFA).

NFA-Lanao Norte Provincial Manager-OIC Raymundo M. Cotiangco said that they have created a Palengke Watch Team to continuously monitor all outlets in the province of Lanao del Norte and Iligan City.

“We want to make sure that NFA rice would reach to the end consumers at the authorized selling price,” he said.

“Any violation committed by the retailers in the sale of NFA rice as to diversion of stocks, unusual depletion of stocks and adulteration will be acted upon by NFA authority.”

For Lanao del Norte, there are 67 Tindahan Natin Outlets (TNO), receiving a weekly allocation of 15 bags NFA rice per operator.  We have also identified 28 Bigasan ni Gloria sa Palengke (BGP) outlets, with weekly allocation of 20 bags per outlet.

Also, there is one (1) Bigasan sa Parokya in Baloi, Lanao del Norte with an allocation of 20 bags per week, allowing per person to purchase a maximum of 3 kilograms.

All these outlets selling NFA rice could serve the consuming public especially those at the marginalized sector.  We have not received yet the guidelines regarding the distribution of rice to individuals with Family Access Card, said Cotiangco.

To date, we have a stockpile of 80,000 NFA rice bags in our warehouse for Iligan City and Lanao del Norte.  Transfer of stocks of NFA rice from Cagayan de Oro City to Iligan City still continues to at least 3-5 truckloads of 700 bags daily. 

“There is nothing to worry about because we have sufficient supply to accommodate the consuming public.  But we ensure that sales and distribution of NFA rice shall made only to accredited outlets,” Cotiangco said. (with PIA-Iligan City)

 

Written by admin · Filed Under Lanao del Norte | Leave a Comment 

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