Executive Summary
EXECUTIVE SUMMARY INTRODUCTION Tomas Oppus is a fifth class municipality in the province of Southern Leyte, Philippines. The Municipality of Tomas Oppus occupies an area of 56.11 square kilometers, and the home of 15,807 residents according to the 2010 National census. Politically, Tomas Oppus is subdivided into twenty nine (29) barangays namely: Anahawan, Banday, Biasong, Bogo (Pob.), Cabascan, Camansi, Cambite, Canlupao, Carnaga, Cawayan, Higosoan, Hinagtikan, Hinapo, Hugpa, Iniguihan, Looc, Luan, Maanyag, Mag-ata, Mapgap, Maslog, Ponong, Rizal, Sana Agustin, San Antonio, San Isidro, San Miguel, San Roque, Tinago. The Municipality of Tomas Oppus is headed by Honorable Mayor Agustin R. Escaño, Jr. and is supported by Honorable Vice Mayor Nicanor F. Tahup and eight (8) members of Sangguniang Bayan. Scope of Audit An audit was conducted on the accounts and operations of the Municipality of Tomas Oppus, Southern Leyte for calendar year 2015 in accordance Philippines Public Sector Accounting Standard. The audit included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statements presentation. The audit covered the transactions for the period January 1 to December 31, 2015. HIGHLIGHTS OF FINANCIAL OPERATIONS Sources and Application of Funds Income The Municipality of Tomas Oppus collected total revenue of P 52,329,138.05 from various sources, as shown below: Sources of Revenue 2015 Tax Revenue P1,723,945.95 Share from Internal revenue 48,216,749.00 Collection Other share from National Taxes 0.00 Service and Business Income 2,388,443.10 Shares, Grants and Donations 0.00 Gains 0.00 Other Income 0.00 Total P52,329,138.05 Appropriations Appropriations for the current year amounted to P 57,664,166.00.
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