Accounting Office

FUNCTIONAL STATEMENT

The Municipal Accountant’s office takes charge of both the ACCOUNTING and INTERNAL AUDIT SERVICES of Municipality of Tanay to help ensure proper stewardship of public funds.

Basic Principles and Objectives

  1. To install, discharge and maintain an effective accounting and internal control system of this municipality ensuring all resources are utilized in conformity with laws, rules, policies, and are safeguarded against loss, wastage and misuse.
  2. To report on the financial position and the results of operation of this municipality for the information of all concerned persons, agencies, officials and officers.
  3. To establish financial data concerning past operations and present condition as managerial guide for future operations and decision making.
  4. To regulate the process of bookkeeping, undertaking analysis of accounts, recording, classifying, summarizing and interpreting the results thereof for all transactions involving receipt and disposition of funds and properties.

LEGAL MANDATE

As mandated under Section 474 of the Republic Act No. 7160 otherwise known as the Local Government Code of l991, this Office shall take charge of the following services:

 (1) Install and maintain an internal audit system in the local government unit concerned;

(2) Prepare and submit financial statements to the governor or mayor, as the case may be, and to the sanggunian concerned;

(3) Appraise the sanggunian and other local government officials on the financial condition and operations of the local government unit concerned;

(4) Certify to the availability of budgetary allotment to which expenditures and obligations may be properly charged;

(5) Review supporting documents before preparation of vouchers to determine completeness of requirements;

(6) Prepare statements of cash advances, liquidation, salaries, allowances, reimbursements and remittances pertaining to the local government unit;

(7) Prepare statements of journal vouchers and liquidation of the same and other adjustments related thereto;

(8) Post individual disbursements to the subsidiary ledger and index cards;

(9) Maintain individual ledgers for officials and employees of the local government unit pertaining to payrolls and deductions;

(10) Record and post in index cards details of purchased furniture, fixtures, and equipment, including disposal thereof, if any;

(11) Account for all issued requests for obligations and maintain and keep all records and reports related thereto;

(12) Prepare journals and the analysis of obligations and maintain and keep all records and reports related thereto; and

(13) Exercise such other powers and perform such other duties and functions as may be provided by law or ordinance.

As provided under Section 334c of Republic Act 7160, the financial records of the barangays shall be kept in the Office of the City Accountant in a simplified manner as prescribed by the Commission on Audit.

The Municipal Accountant’s office shall prepare the financial statements of Barangays. Copies are furnished to the Sangguniang Barangay and the audit team leader.