Basey Audit Reports · CY 2024
2024 audit at a glance
An unofficial presentation of the public Commission on Audit (COA) Annual Audit Report for the Municipality of Basey, Province of Samar, for the calendar year ended December 31, 2024, with comparative figures for 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%
About the local government unit
Classification
1st class municipality
Province
Samar · Region VIII (Eastern Visayas)
Founded
1591
Barangays
51
Land area
513.01 km²
Population (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
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.