Republic of the Philippines COMMISSION ON AUDIT Regional Office No. VIII Office of the Regional Supervising Auditor NGS ~ Cluster 5 — Education and Employment Leyte Government Center Candahug, Palo, Leyte December 2, 2020 Teodorico N. Sulla Principal Leyte Agro- Industrial School Leyte, Leyte Attention: Jose Mari V. Baluran Accountant I Re: Closing of the 2020 accounts and submission of year-end financial statements (FS) and reports/schedules to the Regional Auditor and Central Office Chief Accountant pursuant to COA Circular 2015-007 dated October 22, 2015. Dear Sir: This is to respectfully give focus on the requirement as above cited including those pertaining to the monthly as well quarterly financial reports May it be recognized please, that Section 60 Chapter 19 Volume I of the Government Accounting Manual requires your agency to submit pertinent financial statements and schedules within the prescribed deadline, Accordingly, an operating unit is bound to submit the following on the designated deadlines as follows; viz: [ Report Period Deadline ait Tor Trial Balances (TBs) & Monthly Ten days after end of Auditor, Regional Accountant Subsidiary Schedules the month (SSs) | TBs, Financial Quarterly | Ten days after the end | Auditor, Regional Accountant Statements, SSs ofeach quarter ‘TBs, Financial Year-End | On or before January Auditor, Regional Accountant Statements (FS), SSs 20 of the following (Regional Office & year Operating Units | combined)In order to make possible your agency’s compliance with the aforesaid requirements, implementation of hereunder proposed procedures is recommended to be done on the indicated dates; thus: ) Instruct the submission of all claim documents to the cashier within a designated cut-off date preferably on or hefore December 16, 'b) Require the cashier/tellers to prepare all required reports and source documents, thereafter, cause their submission to the Accounting Division for recording 0n or before the cut-off date. The tuming over of pertinent documents and reports to the Accounting Division shall be covered by transmittal letters (TLs) which contain information concerning the designated reference number of said documentations. Said TLs shall be marked as received by the accounting division, in turn to serve as proofs of the receipt of all turned-over documents ©) Direct the Accounting Division to update all accounting records specifically, the joumals and ledgers including the production of Pre-Closing Trial Balances not later than the last date of December which is preferred to be done on or before December 23. ‘Thereafter closing of the 2020 accounts shall be commenced. Coordination with the in-charge auditor is advised in case of any existing problenvissue/limitation. 4) Transactions that are yet to be paid but substantially supported with supporting Papers, shall be recorded as payables. Our auditor-in-charge shall be monitoring from time to time your agency’s compliance with the above procedures particularly the status of Pre-Closing Trial Balance as of December 29, 2020 and the processes that will be undertaken thereafter. In addition, we will be issuing tracers up to the 3 in case of unsubmitted year-end financial statements starting January 22, 2021. Our interventions on the matter cannot be dispensed with, as prompt compliance thereto will ccapacitate our team in accomplishing all mandated audit reports on time. In addition, the FS including all attachments are mandatorily subject to our audits and that in case of non-submission on time as well as unresolved misstatements, said circumstances would become part of the 2020 Audit Observations, We hope for your office’ usual support in making the undertaking a successful one. Thank you very much. N acs Lon :LLA P. CASTILLO State Auditor IV Audit Team Leader COAVIENGS/Clster Sno ater re losing ofthe 2020 accounts