Koronadal City— Fredaliza Gazo, Officer-in-Charge of the Provincial General Services Office in South Cotabato, confirmed the completion of the reconciled Property, Plant and Equipment (PPE) inventory since the administration of former Governor Hilario De Pedro, III, is about to be completed, a subject of Commission on Audit report.
“We have availed of the one-time cleansing inventory and fortunately, it is now completed,” Gazo reported.
The inventory is part of the financial statement prepared by the Provincial Accountant’s Office.
A COA circular stated that the Property, Plant and Equipment constitute more than 50 percent of the total assets of the government and discrepancies in PPE account balances is perennial. Accountability is needed in this matter, the COA ordered.
The Provincial Accountant’s Office is yet to release demand letters to respective accountable personnel and officials.
The one-time cleansing of PPE account of government offices establishes PPE balances that are verifiable as to existence, condition and accountability.