The local government of Valenzuela has received the audit highest rating and best classification for a local government by the Commission on Audit (COA).
In its Independent Auditor’s Report, COA said that “the audit evidence it has obtained is sufficient and appropriate” for the basis of providing an “unmodified opinion” to the City Government of Valenzuela.
All of the city’s resources are used, as supported by its financial position, financial performance, net assets and equity, cash flows, and budget as of December 31, 2020.
“Valenzuela City being rendered with the highest classification and best classification for a local government unit means that we, in the local government, maintains its honest and fair financial management in public service,” Mayor Rex Gatchalian said.
“Despite a challenging 2020 due to the pandemic, this rating manifests that Valenzuelanos can continue to expect and trust the City Government’s compliance to the highest standards of accountability, good governance, and transparency,” he added.
The COA has rendered its observations and recommended courses of action and the city government is now undertaking the needed actions.