In a bid to streamline and ensure accuracy in its financial records, the Palawan provincial government conducted a seminar for designated supply officers on the implementation of the One-Time Cleansing of Property, Plant, and Equipment (PP&E) account balances.
The training, organized by the Inventory Committee, was held on November 18 at the VJR Hall of the Provincial Capitol.
The seminar was led by Atty. Mary Joy Ordaneza-Cascara, chairperson of the Inventory Committee, with the support of the General Services Office (GSO) and the Provincial Accountant’s Office.
It aimed to equip supply officers with the necessary skills and knowledge to handle tasks related to the cleansing initiative, including conducting a comprehensive physical inventory.
The formation of the Inventory Committee was mandated by Executive Orders No. 53 and 65, series of 2024, issued by Governor Dennis Socrates. The initiative responds to recommendations by the Commission on Audit (COA) to address discrepancies in PP&E records.
Key topics discussed during the seminar included resolving issues with PP&E account balances, addressing non-existing or missing assets, identifying unclear ledger entries, and refining classifications such as leased assets, heritage items, construction in progress, and other tangible properties.
The one-time cleansing initiative is a compliance measure with COA directives, aiming to establish accurate and transparent financial statements while ensuring the integrity of PP&E data.
The training underscores the provincial government’s dedication to financial accountability and effective asset management, ensuring that public resources are properly documented and utilized.
