San Juan City's financial performance met international standards - COA

The Nation's Leading Newspaper

8/1/2021 5:30:00 PM

San Juan City's financial performance met international standards – COA

The Nation's Leading Newspaper

The San Juan City government’s financial performance, cash flows, changes in net assets/equity comparison of budget and actual amounts for 2020 have met International Public Sector Accounting Standards, the Commission on Audit has revealed.The 2020 Annual Audit Report (AAR) for the city was summited recently to Mayor Francisco Javier M. Zamora, with the independent auditor’s report indicating the said opinion.

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“In our opinion, except for the effects and possible effects of the matters described in the Basis for Qualified Opinion section of our report, the accompanying financial statements present fairly in all material respects, the financial position of the City of San Juan, as at December 31, 2020 and its financial performance, cash flows, changes in net assets/equity comparison of budget and actual amounts for the year then ended and its notes to financial statements in accordance with International Public Sector Accounting Standards (IPSAS),” COA reported.

The 2020 AAR for the city noted that tax payment delinquency has cost over P233 million in uncollected real property taxes(RPT) thus depriving the city government much needed funds to finance its various programs, projects and activities.However, analysis of the financial records indicated that RPT and Special Education Taxes were unpaid during and prior Zamora’s term as city chief executive. headtopics.com

Non-payment were noted even prior to 2011 with the city government failing to collect P92,310,460.From 2011 to 2020, the city government recorded various amounts of receivables for RPT and SET. The highest non-collection came in 2019 and amounted to P42 million.

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San Juan City's uncollected real estate tax hits P233-MTax payment deliquency has cost San Juan City over P233 million in uncollected real estate taxes thus depriving the city government much needed funds to finance its various programs, projects and activities.