Scribd Logo
Upload

Welcome to Scribd!

  • 25 views

    Ifugao Executive Summary 2021

    Uploaded by

    J Ja
    The document provides an executive summary of the financial position and performance of the Province of Ifugao for the calendar year 2021. It includes details on the province's assets, liabilities, revenues, expenses, completed infrastructure projects, and audit results. The audit found that the province's assets and equity were understated due to non-recognition of acquired assets and incorrect capital expenditure recognition.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Ifugao Executive Summary 2021

    Uploaded by

    J Ja
    25 views4 pages
    The document provides an executive summary of the financial position and performance of the Province of Ifugao for the calendar year 2021. It includes details on the province's assets, liabilities, revenues, expenses, completed infrastructure projects, and audit results. The audit found that the province's assets and equity were understated due to non-recognition of acquired assets and incorrect capital expenditure recognition.

    Original Title

    Ifugao-Executive-Summary-2021

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document provides an executive summary of the financial position and performance of the Province of Ifugao for the calendar year 2021. It includes details on the province's assets, liabilities, revenues, expenses, completed infrastructure projects, and audit results. The audit found that the province's assets and equity were understated due to non-recognition of acquired assets and incorrect capital expenditure recognition.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    25 views4 pages

    Ifugao Executive Summary 2021

    Uploaded by

    J Ja
    The document provides an executive summary of the financial position and performance of the Province of Ifugao for the calendar year 2021. It includes details on the province's assets, liabilities, revenues, expenses, completed infrastructure projects, and audit results. The audit found that the province's assets and equity were understated due to non-recognition of acquired assets and incorrect capital expenditure recognition.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    You are on page 1of 4

    EXECUTIVE SUMMARY

    A. Introduction

    The Province of Ifugao was created on June 18, 1966 by virtue of Republic Act No.
    4695. It is a third-class province in terms of income classification with 11 component
    municipalities, 176 barangays and 9 Special Sitio Growth Zone established under
    Provincial Ordinance No. 2020-18. The Province is primarily mandated under Republic
    Act No. 7160 otherwise known as the “Local Government Code of 1991” to exercise
    efficient and effective governance essential to the promotion of the general welfare and
    the provision of basic services and facilities.

    As of December 31, 2021, the Province had a total of 1,806 personnel consisting of
    526 permanent, 1 casual, 148 contractual under the Special Education Fund (SEF) and
    1,131 job order/ contract of service personnel. Moreover, PLGU Ifugao consists of 13
    elective officials headed by Honorable Jerry U. Dalipog, Provincial Governor and
    Honorable Glenn D. Prudenciano, Provincial Vice-Governor.

    The Provincial Local Government Unit of Ifugao continues to serve the Ifugao
    People guided by its mission and vision, to wit:

    MISSION: To ensure the collective well-being and happiness of Ifugaos.

    VISION: IFUGAO: A culturally vibrant Province with preserved heritage for


    Humanity.

    For the Calendar Year 2021, the Province of Ifugao received various
    awards/recognition which includes:

    • “1st Province in CAR to Complete and Upload their Provincial Devolution


    Transition Plan to DILG DTP-Repository” by DILG
    • “3rd Top Performing Province- Measles, Rubella, Oral Polio Supplementary
    Immunization Activity” by DOH-CAR
    • “LGU with Less Than 10% Stunting Prevalence in 2020” by the National
    Nutrition Council (NCC)-CAR
    • “Most Improved Local Government Unit in Environmental Health Service
    (MILEHS) for 2021” by DOH National Office
    • “Good Financial Housekeeping (GFH) in CY 2019” by DILG Ifugao
    • “2nd Place Cordillera NutriSong 2021 for Local Nutrition Committee” by NCC-
    CAR

    Pursuant to COA Resolution No. 2011-009 dated October 20, 2011, the integrated
    results and risk-based audit methodology has been adopted in the audit of the accounts
    and operations of the Province for the period ended December 31, 2021.

    i
    The audit aimed to ascertain compliance with laws, rules and regulations, and
    determine whether financial resources were managed economically, effectively and
    efficiently. The audit was focused on the audit thrusts issued by the Local Government
    Sector for CY 2021.

    B. Financial Highlights

    Comparative Analysis of the Statement of Financial Position and Financial


    Performance as of year-end of CY 2021 & CY 2020 as graphically illustrated below
    showed an increase in Assets, Liabilities, Government Equity, Revenue and Expenses
    and a decrease in Surplus/Net Income.

    I. Financial Position

    ↑6.90%
    3,500,000,000.00
    3,000,000,000.00 ↑6.22%
    2,500,000,000.00
    In Pesos

    2,000,000,000.00
    ↑8.72%
    1,500,000,000.00
    1,000,000,000.00
    500,000,000.00
    -
    Assets Liabilities Government Equity
    2021 3,066,595,235.89 852,115,298.75 2,214,479,937.14
    2020 2,868,614,013.97 783,796,335.60 2,084,817,678.37

    II. Financial Performance

    ↑6.41%
    1,200,000,000.00
    ↑16.97%
    1,000,000,000.00
    800,000,000.00
    In Pesos

    600,000,000.00
    400,000,000.00 ↓69.74%
    200,000,000.00
    -
    Revenue Expenses Surplus/(Deficit)
    2021 1,134,386,073.24 783,832,975.99 52,401,537.79
    2020 1,066,071,949.52 670,136,524.53 173,197,111.77

    III. Sources and Application of Funds

    The appropriations, revenue/receipts and obligations of the Provincial Government


    of Ifugao for the year-ended December 31, 2021, including funds received and
    transferred to other agencies with comparative figures for CY 2020, are as follows:

    ii
    Increase (Decrease)
    Particulars 2021 2020
    Amount %
    Appropriations 2,028,892,338.53 1,154,953,862.77 873,938,475.76 75.67%
    Actual Revenue/Receipts 1,994,863,226.75 1,272,513,581.59 722,349,645.16 56.77%
    Obligations Incurred 884,142,747.53 811,237,017.17 72,905,730.36 8.99%
    Funds Transferred to Other Agencies
    Due from NGAs 3,060,200.98 3,060,200.98 0.00 0.00%
    Due from GOCCs 98,325.00 98,325.00 0.00 0.00%
    Due from LGUs 10,370,370.33 18,593,761.76 (8,223,391.43) (44.23%)
    Due from NGOs/NPOs 23,400,853.33 23,677,953.33 (277,100.00) (1.17%)
    Funds Received from Other Agencies
    Due to NGAs 211,066,367.66 220,645,948.25 (9,579,580.59) (4.34%)
    Due to GOCCs 35,703.25 (84,802.08) 120,505.33 142.10%
    Due to LGUs 19,842,875.88 20,741,428.33 (898,552.45) (4.33%)

    Some of the Infrastructure Projects which were completed in CY 2021 based on


    reports are as follows:

    Total Cost
    Name of Project Fund Source Appropriation
    Incurred
    Rehabilitation of Little Ifugao to Pangka Road 2021-5% CF 3,000,000.00 2,915,767.83
    Rehabilitation of Magne Pugol Road 2021-5% CF 3,000,000.00 2,921,655.82
    Lagawe Flood Control 2020-20% DF 4,400,000.00 4,227,170.14
    Pindongan Road 2020-20% DF 3,000,000.00 2,842,833.42
    Polod Bangbang Road 2020-20% DF 3,000,000.00 2,882,210.36
    Lamut-Panopdopan-Holowon Road Improvement 2020-20% DF 5,000,000.00 4,803,430.20
    Poblacion East Farm-To-Market Road 2020-20% DF 5,000,000.00 4,841,255.67
    Ifugao General Hospital (IGH) Completion 2020-20% DF 50,000,000.00 48,480,719.34

    Other infrastructure projects funded through fund transfers from National


    Government Agencies which were completed in CY 2021 are as follows:

    Amount of Total Cost


    Particulars
    Fund Transfer Incurred
    Department of Health
    Construction of Community Based Treatment Rehabilitation 5,000,000.00 4,768,477.74
    Facility (Dangerous Drug Board)
    Construction of Community -Based Recovery Clinic 2,184,000.00 2,183,999.90
    Department of Interior and Local Government
    Construction of Ifugao Halfway House 5,000,000.00 4,970,014.83
    Improvement of Ubao-Haitan Road- (LGSF-CMGP 2020) 33,150,567.67 33,150,564.26
    Improvement of Ubao-Lubuan Road (LGSF-CMGP 2020) 33,720,310.00 33,720,278.70
    Improvement of Sta. Maria-Quarentinas Road (LGSF-CMGP 21,278,696.00 21,278,694.92
    2020))
    Department of Public Works and Highways
    Restoration and Rehabilitation of Banaue Rice Terraces 107,365,000.00 107,365,695.47

    iii
    C. Opinion of the Auditor on the Fairness of Presentation of the Financial
    Statements

    We rendered a qualified opinion on the fairness of presentation of the financial


    statements because assets and equity were understated, both by the amount of
    ₱9,979,581.82, due to the non-recognition of acquired assets and the inappropriate
    recognition of capital expenditures incurred.

    D. Summary of Significant Observations and Recommendations

    Other than the basis for the qualified opinion, the following are the most significant
    observations and recommendations:

    1. Dormant unliquidated fund transfers totaling ₱20,441,185.20 remain in the books


    despite prevailing conditions precluding settlement thereof, thus affecting the fair
    presentation of the related assets and liability accounts.

    We recommended and Management agreed that the required procedures be


    undertaken and that the appropriate documentation be accomplished to support a
    request from COA for authority to write-off the dormant unliquidated fund transfers
    amounting to ₽20,441,185.20, pursuant to COA Circular No. 2016-005.

    2. Two completed projects costing ₱10,479,866.93, funded from the Bayanihan Grant to
    Provinces, remain unused because the facilities lack basic amenities to cater to the
    requirements necessary to respond to the COVID-19 crisis.

    We recommended and Management agreed that sufficient funds be appropriated from


    the 20% Development Fund to complete the facilities and provide the amenities
    necessary to respond to the requirements of the COVID-19 crisis situation.

    E. Summary of Total Suspensions, Disallowances and Charges

    Unsettled audit suspensions and disallowances of the Provincial Government


    amounted to ₱7,287,223.29 and ₱63,384,537.14, respectively. There were no
    outstanding audit charges as of December 31, 2021.

    F. Status of Implementation of Prior Years’ Audit Recommendations

    Of the 63 prior years’ audit recommendations, 14 were fully implemented, 39 were


    partially implemented and 10 were not implemented.

    iv

    You might also like