Basey Audit Reports · CY 2024
2024 audit at a glance
Review the public Commission on Audit (COA) Annual Audit Report for the Municipality of Basey for CY 2024. Figures include comparisons with CY 2023.
Audit opinionQualified opinion
The Auditor rendered a qualified opinion on the combined financial statements. Except for the effects of the matters described in the Bases for Qualified Opinion, the financial statements present fairly, in all material respects, the financial position, financial performance, cash flows, and comparison of budget and actual amounts in accordance with International Public Sector Accounting Standards (IPSASs). See the audit findings for details.
Key financial highlights
CY 2024 vs CY 2023
Total assets
₱1,130,821,080.03
₱1,105,323,513.40 in 20232.3%
Total liabilities
₱254,519,709.46
₱315,907,664.83 in 202319.4%
Net assets/equity
₱876,301,370.57
₱789,415,848.57 in 202311.0%
Total revenue
₱318,908,845.40
₱299,055,159.15 in 20236.6%
Total expenses
₱286,990,919.35
₱250,036,312.80 in 202314.8%
Surplus for the period
₱28,775,094.22
₱58,768,987.78 in 202351.0%
Financial position
Total assets, liabilities, and net assets/equity, CY 2023 vs CY 2024
| Category | CY 2024 | CY 2023 |
|---|---|---|
| Total assets | ₱1,130,821,080.03 | ₱1,105,323,513.40 |
| Total liabilities | ₱254,519,709.46 | ₱315,907,664.83 |
| Net assets/equity | ₱876,301,370.57 | ₱789,415,848.57 |
Assets grew to ₱1,130,821,080.03 while liabilities declined to ₱254,519,709.46, raising net assets/equity by 11.0%.
Financial performance
Revenue, expenses, and surplus for the period, CY 2023 vs CY 2024
| Category | CY 2024 | CY 2023 |
|---|---|---|
| Total revenue | ₱318,908,845.40 | ₱299,055,159.15 |
| Total expenses | ₱286,990,919.35 | ₱250,036,312.80 |
| Surplus for the period | ₱28,775,094.22 | ₱58,768,987.78 |
Revenue rose by 6.6% to ₱318,908,845.40, while the surplus decreased from ₱58,768,987.78 in 2023 to ₱28,775,094.22.
About the local government unit
Classification
1st class municipality
Province
Samar · Region VIII (Eastern Visayas)
Founded (non-COA context)
1591
Barangays
51
Land area
513.01 km²
Population (2024)
57,645
Population, 1903–2024
Census population history of Basey, Samar (Philippine Statistics Authority censuses)
| Category | Population |
|---|---|
| 1903 | 13,504 |
| 1918 | 18,100 |
| 1939 | 28,296 |
| 1948 | 35,523 |
| 1960 | 29,680 |
| 1970 | 35,165 |
| 1975 | 37,890 |
| 1980 | 36,760 |
| 1990 | 39,137 |
| 1995 | 40,114 |
| 2000 | 43,809 |
| 2007 | 48,389 |
| 2010 | 50,423 |
| 2015 | 55,480 |
| 2020 | 56,685 |
| 2024 | 57,645 |
Audit coverage
Financial audit thrusts
Areas covered by the CY 2024 financial audit
- Cash and Cash Equivalents
- Advances for Payroll
- Property, Plant and Equipment
- Prepaid Insurance
- Due to NGAs
- Due to BIR
- Due to Philhealth, Pag-ibig and GSIS
- Consultancy Services
- Other General Services
Performance and compliance audit areas
Programs and funds subjected to performance and compliance audit
- Fund Transfers from NGAs - LGSF-SBDP of NTF-ELCAC
- Utilization of 20% Development Fund
- Utilization of Local Disaster Risk Reduction Management Fund
- Gender and Development Fund
Explore the report
Assets, liabilities, and net assets/equity of the Municipality
Revenue, expenses, and the surplus for the period
Appropriations, obligations, and budget utilization
Operating, investing, and financing cash movements
Detailed composition of the accounts behind the statements
General, Special Education, and Trust Funds plus special funds
Audit observations and recommendations
Completed projects, ongoing works, and awards
Audit and government finance terms explained
Data and source notes
- The executive-summary financial position/performance chart is omitted from structured data because several values are truncated and its 'Income' measure is not interchangeable with audited Total Revenue. Full-precision audited amounts are retained in the financial statements and financial_highlights sections.
- Exec summary cancelled checks count is stated as 4, while the Independent Auditor's Report, Part II, and the detailed schedule (Table 7) all show 3 cancelled checks totaling 20125.00. The verified count used is 3.
- Part II Section 3.3 lists a CIB-LCCA balance of 111348807.21 but its TOTAL row incorrectly repeats the unreleased-checks amount 2294313.33; the correct fund detail is General 76967044.97 + SEF 742213.14 + Trust 33639549.10 = 111348807.21.
- Part II Section 3.4 states 19 unreleased checks totaling 11088402.44, which does not reconcile with the table totals (2294313.33). The reconciled total per Tables 3-6 is 2294313.33.
- Finding 3 fund attribution follows Tables 5-6 and the account identities in Note 4: Trust Fund has 4 unreleased checks/16837.70 and SEF has 9/27201.09. Table 3 reverses the SEF/TF labels while retaining the bank account numbers; its conflicting labels are preserved in unreleased_checks_by_fund_as_reported_table_3. General Fund has 6 checks/2250274.54; the overall 19/2294313.33 is unchanged.
- Note 11 (PDF page 44, printed page 24) reports 2023 current liabilities of 257198287.76, but its line items sum to 257247587.76, the SFP amount. The note now retains the printed total and a separately labeled calculated_line_item_total. The audited SFP total is unchanged.
- LDRRMF total available is stated as 37342155.42 in the finding title and 37342155.41 in Note 27; both appear in the report.
- CY 2024 appropriations by class are calculated from the full-precision SCBAA rows: PS 120949361.19, MOOE 153806518.98, CO 73004439.04, sum 347760319.21. The executive chart truncates PS/MOOE to 120949361.1/153806518.9 (displayed sum 347760319.04) and prints a conflicting total of 347762343.2; these chart values are retained separately. Obligations total 315098778.18.
- Appendix E lists 73 disbursement rows of 20000.00 each (obligated total 1460000.00), of which 63 were issued via checks (distributed total 1260000.00); the appendix TOTAL line of 1500000.00 does not reconcile to the row sum.
- Wikipedia infobox economic figures (revenue 290.1M, assets 113.1M, expenditure 287M, liabilities 254.5M for 2024) conflict with the audited figures and are NOT used. All income, expense, asset, and liability figures in this dataset are sourced exclusively from the official COA Annual Audit Report (audited total assets = 1130821080.03; audited total revenue = 318908845.40).
- Note 14 processing fee (13522.18) and Note 26 depreciation for buildings (3675552.23) contained source typos ('135,22.18' and '3,675552.23'); corrected values are used.
- Exec summary CY 2023 by-class comparatives are printed with transposition errors (appropriations MOOE 134215704.60 / CO 181416165.80 / total 426360989.00 and obligations MOOE 126823947.66 / CO 54130997.00) that do not reconcile to the audited CY 2023 SCBAA; the audited CY 2023 values are used (appropriations PS/MOOE/CO 110727095.50/134215704.66/181416165.84 totaling 426358966.00; obligations PS/MOOE/CO 106133209.98/126529103.66/54425841.50 totaling 287088155.14).
- The municipal accountant name in the lgu_profile is corrected to 'Ivan Kim T. Talbo, CPA' per the Statement of Management Responsibility and Part II Table 23 of the CY 2024 Annual Audit Report.
- Appendix F January 2024 Pag-IBIG under-remittance is printed as 149179.46 in the source; the reconciled value of 14099.00 is used (173848.73 withheld less 159749.73 remitted), consistent with the printed running balance of 569999.13.
- Finding 1 reports PPE of 885440099.30 and 89.84% for the four affected account groups. The audited SFP/Note 9 PPE balance is 881193508.92; the finding total divided by audited total assets is 89.56%. Reported and calculated values are kept separate.
- Finding 8 reports uninsured properties of 258233195.28, which excludes the table's negative transportation-equipment difference. The complete table nets to 252957217.82. The printed premium total is 2635518.24 while its two rows sum to 2635508.27; both presentations are retained.
- Finding 13's net combined GSIS/Pag-IBIG under-remittance is 1599753.97. Appendix F prints 1734834.43 because it combines GSIS net under-remittance with Pag-IBIG current-year unremitted amounts before prior-year payments; the printed appendix total is retained only as a reported conflicting value.
- The wikipedia subtree and the founding year, district, geography, population, officeholder, history, and tourism claims it contains are outside the COA audit-verification boundary.
- SCBAA continuing-appropriation cells are blank, and Finding 2 explicitly identifies the omitted disclosure (PDF pages 31-32 and 55-56). All four total_continuing_appropriations values are null, meaning not disclosed. The non-monetary second basis for the qualified opinion also uses null, not a monetary zero.
- Note 14 Fines and Penalties - Business Income (2024 0.00; 2023 809.50) was omitted from the extraction and has been restored from PDF page 45. Including it reconciles the 2023 detailed income rows to the printed total of 6424367.60.
- The Pag-IBIG monthly schedule summary now uses net under-remittance of 47427.75 (2228341.79 less 2180914.04), consistent with Finding 13 and the corrected monthly rows. Appendix F prints 182508.21; that conflicting subtotal is retained separately as reported_appendix_under_remittance.
- Table 19 (PDF page 101, printed page 81) prints GAD totals of 10400000.00 planned, 9550000.00 accomplished, and 750000.00 variance. Its four rows instead sum to 11100000.00, 10350000.00, and 750000.00. The application totals use the calculated row sums; gad_plan_vs_accomplishment_variance_reported_totals preserves all printed totals.
- Finding 7 paragraphs 7.6-7.7 report 38 personnel with multiple advances and 11 with advances aged three years or over. Counting all 84 rows in Table 12 gives 39 and 12, respectively. Its balance rows sum to 4124407.54, versus the printed total and finding amount of 4158275.54 (difference 33868.00). Reported and calculated values are kept separately. The maximum balance of 281157.00 and maximum count of 10 agree with the table.
- Note 17 CY 2024 employee-cost rows sum to 120428544.45, which is 300.00 below its printed total and the financial-performance statement amount of 120428844.45. The source rows and reported total are retained without inventing a balancing entry.
- Note 11 reports Due to Pag-IBIG of 663025.01 for 2024, while Finding 13/Table 21 and Appendix F show 603327.88, a difference of 59697.13. Both source presentations are retained; no unsupported reconciliation is assumed.
- Finding 3 reports cash in bank of 111348807.21, whereas Note 4 reports 119134407.44 (difference 7785600.23). LDRRMF PPA utilization totals 9060344.40 in Finding 11, whereas Note 27 reports 8501635.23 (difference 558709.17). These source presentations are retained without assuming they have identical scope.
- Small source discrepancies are retained: CY 2024 Notes 4, 6, 12 and 13 each have a 0.01 row-sum difference; combined cash outflows sum to 365208331.42 versus printed 365208331.43, and printed operating cash flow is 29039343.29 versus 29039343.28 calculated from the printed totals. SEF closing cash is 858578.43 in its SFP but 858578.42 in its cash-flow statement.
- Finding 11 contains conflicting transfer wording: paragraph 11.21(d)(1) says to the LDRRMF-STF, while paragraphs 11.20 and 11.24 describe reimbursement from the Trust Fund to the General Fund. The recommendation is a source summary, not independent payment instructions.
- Names marked Redacted for privacy and masked bank account numbers are editorial redactions of values present in the PDF. Partially implemented statuses combine mixed recommendation-level statuses, and related_prior_recommendations records thematic links rather than a COA declaration that findings are identical. Percentage fractions, row counts, maxima and calculated totals are derived values, not additional audited figures.
- COA Annual Audit ReportAnnual Audit Report of the Municipality of Basey, Samar for CY 2024 (4305 lines)
- Executive SummaryExecutive Summary of the CY 2024 audit
- COA Annual Audit Report (comparative source)CY 2023 Annual Audit Report used to verify comparative SCBAA values
- Executive Summary (comparative source)CY 2023 Executive Summary used to verify comparative values
- Wikipedia ArticleWikipedia article on Basey, Samar
Prepared by Atty. Joselita M. Poticano (OIC Supervising Auditor) and Vanessa Ann Cristin C. Gabutin (OIC Audit Team Leader). Independent Auditor’s Report dated March 24, 2025; the audit followed International Standards of Supreme Audit Institutions (ISSAIs). Also available: CY 2023 audit report.