Daily Tribune‘We have effectively utilized online payment platforms for transactions with various clients. These include payments for taxes and fees, distribution of cash incentives and assistance, and payment of salaries and bonuses of city hall personnel, among others’
(Photo from Abby Binay / Facebook)
The Commission on Audit (CoA) has again rendered an “unmodified opinion” to the local government of Makati on the fairness of presentation of the financial statements of the city for calendar year 2023.
Makati Mayor Abby Binay said that the local government has capped the recognition for the seventh straight year as she expressed gratitude to CoA for its impartial evaluation of the city’s compliance with financial reporting and auditing standards for the past seven years.
“The COA opinion validates our unwavering commitment to good governance and its hallmarks, particularly transparency and accountability,” said Binay.
CoA National Capital Region Director IV Atty. Maria Carmina Paulita Juguilon-Pagayawan relayed the latest audit result in a letter to the mayor.
An unmodified or unqualified opinion is given to local government units (LGU) when the “auditor concludes that the financial statements are prepared in all material respects, in accordance with the applicable financial reporting framework.”
Binay also lauded the various departments, offices and institutions of the city government for their strict compliance with CoA policies and guidelines in their respective operations.
“This latest achievement is largely a result of the collective effort of all sectors comprising the city government organization. I would like to thank everyone for giving their full cooperation to the Finance sector to ensure that everything, including program implementation and service delivery, is above board,” Binay said.
She also cited innovations undertaken by the city government with the aid of technology, which have made the operations and transactions of the city government more efficient, convenient and transparent.
“We have effectively utilized online payment platforms for transactions with various clients. These include payments for taxes and fees, distribution of cash incentives and assistance, and payment of salaries and bonuses of city hall personnel, among others,” said the mayor.
She disclosed that the city is set to launch this year an Accounting Information System (AIS) that will enhance the efficiency and effectiveness of Accounting operations, and promote greater transparency in financial transactions.
The AIS can generate real-time financial reports that are crucial to the administration’s decision-making, particularly on economic matters and prioritization of funds. It will also speed up the processing of claims and recording of transactions in the city’s Book of Accounts.
