TABLE OF CONTENTS

Part Subject Page No.

I Audited Financial Statements

Audit Certificate 1
Statement of Management Responsibility for Financial Statements 3
Financial Statements 4
Notes to Financial Statements 12

II Detailed Findings and Recommendations

Financial and Compliance Audit 19
Value for Money Audit 38

III Status of Implementation of Prior Years Audit Recommendations 43

IV Annexes
Annex A Consolidated Balance Sheet (By fund) 49
Annex B Consolidated Statement of Income and Expenses
(By fund) 52
Annex C Consolidated Statement of Cash Flows (By fund) 56
Annex D Status of Appropriations, Allotments and Obligations for
the General Fund for Current Legislative Appropriation
and Continuing Appropriations 57
Annex E Status of Appropriations, Allotments and Obligations for
the Special Education Fund for Current Legislative
Appropriation and Continuing Appropriations 60
Annex F Reconciliation of the Due to/from Other Funds Account 61
Annex G Comparative Schedule of Cash in Bank Per Books and Per
Bank Confirmation 62
Annex H Summary of Idle Lands (Partial List) 63
Annex I Comparative Schedule of the Declared Gross Sales of
Business Establishments Operating within the City 64
Annex J Schedule of Business Establishments that Declared Zero
Sales in their 2009 Operations 65
Annex K Aging of Cash Advance 66
Annex L Cash Advances Granted to City and Barangay Officials
and Personnels who Retired from the Service, Resigned,
Deceased and /or Whereabouts Unknown 68
Annex M Cash Advances Granted to Previous Paymasters with Case
under Court Litigation 70
Annex N Computation of Additional Revenue of P37.20 Million per 71
Year from the Operations of Maypajo Market
 PART I
AUDITED FINANCIAL STATEMENTS
 PART II
DETAILED FINDINGS AND RECOMMENDATIONS
 PART III
STATUS OF IMPLEMENTATION OF PRIOR
YEARS RECOMMENDATIONS
 PART IV
ANNEXES