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GOV.PH  | Philippine Standard Time: 03 March 2024, 12:49 AM

“The Softbroom Capital of the North, and Premier Highland Vegetable Producer, & Adventure Tourism Paradise of La Union”

PREPARATION AND SUBMISSION OF FINANCIAL REPORTS TO COMMISSION ON AUDIT AND OTHER AGENCIES

Financial reports are being prepared and submitted quarterly and annually to the Commission on Audit (COA) for auditing purposes.

Office or Division:

ACCOUNTING OFFICE

Classification:

High Technical

Type of Transaction:

G2C

Who may avail:

Auditors, Provincial Accounting and Treasure’s Office, BLGF, Local Government Unit of San Gabriel

CHECKLIST OF REQUIREMENTS

WHERE TO SECURE

PREPARATION OF JOURNALS

1. Cash Receipt Journal

2. Cash Disbursement Journal

3. Check Disbursement Journal

4. General Journal

5. General/Subsidiary Ledgers

5.1 General fund

5.2 SEF

5.3 Trust Fund

Accounting Office

PREPARATION OF MONTHLY AND QUARTERLY FINANCIAL REPORTS

Trial Balance:

1. General fund

2. SEF

3. Trust Fund

4. Statement of Management Responsibilities

5. Financial Statements

5.1 Statement of Financial Position

5.2 Statement of Changes in Net Assets or Equity

5.3 Statement of Cash Flow

5.4 Statement of Financial Performance

6. Cash Advances Monitoring

7. Status of Receivables

8. Summary of Actual MOOE and CO Provided by the Agency to the Auditing Unit/Team

9. Bank Statement Reconciliation

10. Municipal Accounts for sorted vouchers, receipts & signed cash advances

Accounting Office

PREPARATION OF ANNUAL FINANCIAL STATEMENTS

1. Statement of Management Responsibility for Financial Statements

2. Consolidated Statements of Financial Position

3. Consolidated Statement of Financial Performance

4. Consolidated Statement of Cash Flow

5. Statement of Changes in Net Asset/Equity

6. Statement of Comparison of Budget and Actual Amounts

7. Notes to Financial Statement

Accounting Office

CLIENT STEPS

AGENCY ACTIONS

FEES TO BE PAID

PROCESSING TIME

PERSON RESPONSIBLE

1.Receive Paid Vouchers, Official Receipts and other records from Treasury Office.

1. Receive the documents.

None

1 day

Administrative Aide III/Accounting Clerk I

Accounting Office

2. Prepare the necessary journal entries to be recorded on the different accounts.

None

1 month

Administrative Aide III/Municipal Accountant

Accounting Office

3. Prepare financial statements.

None

1 month and 15 days

Municipal Accountant

Accounting Office

4. Print the documents and records.

None

3 days

Administrative Aide III/Accounting Clerk I/Municipal Accountant

Accounting Office

5.Check, review and verify.

None

5 days

Municipal Accountant

Accounting Office

6. Submit to COA and other agencies.

None

1 day

Administrative Aide III

Accounting Office

Total

2 months and 25 days

Official Website of the Municipality of San Gabriel