RESOLUTION NO. 2019-0234 (Co-Sponsors: Committee on Finance and Appropriations and Committee on Ways and Means) "A RESOLUTION REQUESTING THE HONORABLE CITY MAYOR TO DIRECT THE LOCAL FINANCE COMMITTEE TO INSTITUTE CORRECTIVE MEASURES THAT WILL ADDRESS AUDIT OBSERVATION MEMORANDUM (AOM) NOS. 2019-014 AND 2019-018, AND HENCEFORTH, ALL FINANCIAL TRANSACTIONS MUST BE IN CONFORMITY WITH THE USUAL ACCOUNTING AND AUDITING RULES AND REGULATIONS" WHEREAS, this august body has been furnished copies of Audit Observation Memorandum (AOM) Nos. 2019-014 and 2019-018 issued by the Commission on Audit (COA) concerning the risk of acquiring cash overdraft at the end of the year because of the decrease in the collection of Real Property Taxes and improper charges of shortage of collections and payments from collectors, respectively; WHEREAS, this august body, following the information provided by the Joint Committees, to which such Audit Observation Memorandum (AOM) was referred for preliminary evaluation and consideration, that the said matter was already answered by the concerned City Government department and/or offices, deems it prim and proper to direct the Local Finance Committee to institute necessary preemptive and corrective measures to prevent misappropriation of government funds; NOW, THEREFORE, on seconded motion of Honorable Arnold R. Gavenia, be it RESOLVED to request, as this body hereby requests the Honorable City Mayor to direct the Local Finance Committee to institute corrective measures that will address Audit Observation Memorandum (AOM) Nos. 2019-014 and 2019-018, and henceforth, all financial transaction must be in conformity with the usual accounting and auditing rules and regulations. RESOLVED FURTHER, to let copies of this Resolution be furnished to His Honor, City Mayor Samuel S. Co, for his favorable consideration; and to the Local Finance Committee, for information, guidance and/or appropriate action. APPROVED UNANIMOUSLY. I HEREBY CERTIFY to the correctness of the foregoing resolution. MAPHILINDO Q. OBAOB, MPA, MAGaD Verified: City Vice Mayor/Presiding Officer ATTY. TEODORO M. QUICOY SP Member/ Floor Leader Attested: ELKID P. NACUA Acting Secretary to the Sanggunian