COA: Talisay overstates '04 assets by over P1.8M

Talisay City has overstated its 2004 declared assets by at least P1.8 million, according to a recent Commission on Audit's review of city accounts.

The COA was able to verify that a total of P1,819,463.34 are assets that should not have been declared and included in the city accounts.

These include dues from an already deceased former municipal treasurer, unrealized financial aid from the national government, uncollected income, supplies inventory, property and equipment, investments and marketable securities, breeding stocks, and motor vehicles.

The bigger part, amounting to P1.180-million, is on investments and marketable securities-composed of livestock and crops, swine dispersal and breeding animals-all of which were projects eight years before but had expired during the term of the last municipal mayor of Talisay.

COA also found out that the national government's P64,715.50 financial aid to Talisay in the 1980's never materialized and should not be included as assets.

There were uncollected incomes from unnamed creditors and government supplies that had long been carried in accounts, even if the items could no longer be found, as certified by the general services office. There is the P37,460 unliquidated cash advance from former municipal treasurer Lydia Racho who already died a long time ago.

With this disparity, COA has recommended that city accountant Viluzminda Villarante obtain authority from the COA-commission proper to write-off these items from the assets accounts. "The account can be adjusted only upon receipt of the approval from the COA commission proper," the report said. - Garry B. Lao