Thursday, March 1, 2007

COA launches Electronic new govt. accounting system

BY ULYSSES ESPARTERO
KALIBO, Aklan – The Commission on Audit (COA) recently turnover the documents of the full implementation of the Electronic New Government Accounting System (e-NGAS) to the provincial government of Aklan.

According to Provincial Accountant Ma. Victoria Salido, the e-NGAS computerizes the preparation of financial reports from the recording of transactions to the preparation of subsidiary ledgers, general ledgers, journals and ultimately the generation of financial statements including the Trial Balance, Balance Sheet, Statement of Income and Expenses and Statement of Cash Flows.

COA likewise provided the PACCO with the e-Budget System that will hasten the preparation of the Status of Appropriations, Allotments and Obligations.

The turnover ceremony was witnessed by COA Regional Director Atty. Sheila Villa and Aklan Gov. Carlito S. Marquez.

Also present were the department heads of Aklan provincial government including Provincial Budget Officer Mary Grace Macahilas, Provincial General Services Officer Medelia Solanoy and PACCO Asst. Dept. Head Liwayway Maravilla.

It may be recalled that the e-NGAS was installed at the Provincial Accounting System (PACCO) last October 2006.

In his recent State of the Province Address (SOPA), Marquez cited PACCO for providing internal control and auditing and played crucial role in sound fiscal management.

“Our prudent financial management during the past two years in the provincial government enabled us to be able to fully redeem the P40 million bond floatation’s by the middle of last year,” Marquez said.

“This has elicited recognition from the Department of finance that it has cited the Jetty Port and Terminal Project funded by the bond float to be one of the success stories for economic enterprises of local government units in the country,” he added.

In an effort to strengthen the internal control of the province, the Marquez administration has institutionalized in 2005 the creation of an Internal Audit Team to ensure that all collections and expenditures are properly accounted for.

For year 2007, the Sangguniang Panlalawigan chaired by Vice Gov. Ronquillo C. Tolentino approved the General Budget of P420.25 million and the Economic Enterprise Development Department budget amounting to P243.985 million or in a total of P664,244,699./

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