Laoag council passes resolution requiring monthly financial reports

Laoag City—Following the loss of P85 million from the city’s coffers, the Sangguniang Panlungsod here passed a resolution requiring the city’s accountant and treasurer to submit monthly financial reports.

It also specifically mandates that the financial reports contain the reconciliation of bank accounts and actual collections.

Laoag councilor Franklin Dante A. Respicio, the measure’s sponsor, said the reports will be submitted to the office of the mayor, city council, and the Commission on Audit (COA).

The resolution further directs all of the banks where the city uses as depository banks to submit monthly reports to the city government, particularly to the office of the mayor, the council and the COA. (Dominic B. dela Cruz)

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