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