ANNEX A

Summary of Misstatements
Period Covered January 1 to December 31, 2022

Adjusted by
Effect
Audit Observation/ Management
Ref. No. Description of Amount Effect
Misstatement Accounts affected (Overstatement)/ Yes No
Understatement
AOM No. a) Non- (1,430,475.07) Parks, Plazas and 113,168,278.76 
2023-021 reclassification to Monuments
(2022) the appropriate
Infrastructure Construction in (107,245,116.96)
Asset accounts of Progress (CIP)
completed
projects Advances to (888,474.27)
Contractors

Accounts Payable 5,034,687.53

Depreciation
Expense - 1,430,475.07
Infrastructure Assets

Accumulated 1,430,475.07
Depreciation -
Parks, Plaza and
Monuments
b) Unrecorded 31,780,619.74 Flood Control 39,389,324.20 
donation of newly Systems
turned-over
Pumping Station Donations in Kind 32,778,482.62
from DPWH
Depreciation
Expense - 997,862.88
Infrastructure Assets

Accumulated 7,608,704.46
Depreciation - Flood
Control Systems
c) Double recording (13,766,436.23) Flood Control (14,310,224.75) 
of PPE pertaining Systems
to Aglipay
Pumping Station Depreciation
Expense - (543,788.52)
Infrastructure Assets

Accumulated
Depreciation - Flood (543,788.52)
Control Systems

Accumulated (14,310,224.75)
Surplus (Deficit)
d) Non- (234,260.69) Flood Control (680,000.00) 
derecognition of Systems
demolished

Page 1 of 3
 ANNEX A

Adjusted by
Effect
Audit Observation/ Management
Ref. No. Description of Amount Effect
Misstatement Accounts affected (Overstatement)/ Yes No
Understatement
Roque Pumping Depreciation (25,840.00)
Station Expense -
Infrastructure Assets

Accumulated (445,739.31)
Depreciation - Flood
Control Systems

Accumulated (260,100.69)
Surplus (Deficit)
e) Misclassification -0- Road Networks (13,585,222.24) 
of perimeter
fencing to Road Other Structures (2,191,654.92)
Networks and
Other Structure Depreciation (664,683.64)
accounts Expense -
Infrastructure Assets

Depreciation (939,280.68)
Expense - Buildings

Accumulated (8,065,066.32)
Depreciation - Road
Networks

Accumulated (2,191,654.92)
Depreciation - Other
Structure

Other Land 15,776,877.16

Improvement

Depreciation 1,603,964.32
Expense - Other
Land Improvement

Accumulated 10,256,721.24
Depreciation - Other
Land Improvement
f) Errors in the 3,390,358.95 Depreciation (1,377,085.76) 
computation of Expense
Depreciation
Accumulated (3,390,358.95)
Depreciation

Accumulated 2,013,273.19
Surplus (Deficit)

Page 2 of 3
 ANNEX A

Adjusted by
Effect
Audit Observation/ Management
Ref. No. Description of Amount Effect
Misstatement Accounts affected (Overstatement)/ Yes No
Understatement
AOM No. g) Non- 1,374,325.00 Computer Software (1,374,325.00) 
2023-025 derecognition of
(2022) expired/non- Accumulated (1,374,325.00)
operational Amortization -
intangible assets Computer Software
AOM No. h) Non/Erroneous 3,819,169.86 Advances to (3,819,169.86) 
2023-011 Recording of Contractors
(2022) recoupment of
advance Accounts Payable (3,819,169.86)
payments for
completed
projects
AOM No. i) Non-reversion of 4,992,755.17 Accounts Payable (4,992,755.17) 
2023-012 long outstanding
(2022) obligations aged Accumulated 4,992,755.17
and AOM two (2) years and Surplus/(deficit)
No. 2023- beyond with no
024 actual
(2022) administrative 2,605,591.74 Other Payable (2,605,591.74)  
and judicial claim
has been filed Accumulated
Surplus/(deficit) 2,605,591.74

j) Non-preparation 23,040.00 Accounts Payable 23,040.00 

of Journal Entry
Voucher to Cash-in-Bank, Local 23,040.00
recognize the Currency Current
restoration of
unreleased checks
Total Identified Misstatements 32,554,688.47
Total Uncorrected
2,605,591.74
Misstatements
Audit Opinion considering the
computed Overall Planning Unmodified
Materiality

Page 3 of 3