The Makati City local government announced Thursday, July 28, that it has achieved another milestone after earning the Commission on Audit (COA) "unmodified opinion" for the fifth straight year due to its fairness in presenting the city's financial statements in 2021.
"I am very pleased with the results of the recent audit report. Makati earned its first unmodified opinion in 2017, a year after I took the mayoral post. This achievement is a rare feat and a strong validation of our efforts in ensuring honest and transparent governance," Makati City Mayor Abby Binay said.
According to the city government, Atty. Maria Carmina Paulita Juguilon-Pagayawan, COA National Capital Region Director IV, sent a letter to Binay on June 29 reporting the city's unmodified opinion status.
An unmodified or unqualified opinion is given to local government units (LGU) when the "auditor concludes that the financial statements are prepared in all material respects, in accordance with the applicable financial reporting framework."
Binay expressed her gratitude to the COA for its fair evaluation and thanked the departments of the city government for their dedication in complying with laws on the disbursement of government funds.
"This fifth unmodified opinion proves that even with pandemic constraints, we have remained on track in following financial reporting and auditing standards," Binay said.
"I hope that the unqualified opinion will instill trust and confidence in our financial system, especially since our city is the financial capital of the Philippines and that most multinational companies and investors are located here," the mayor added.
According to the city government, Makati has been instituting reforms to promote transparency, accountability, and efficiency in operations at City Hall since 2017, which include the business one-stop shop (BOSS) that allows fast processing and issuance of licenses, clearances and permits.
This prevents corruption in the city government and proliferation of fixers.
The city has also implemented online tax payments to decongest the City Hall and prevent Covid-19 transmission.
In October 2021, the city opened its first Makatizen Hub, a satellite office in SM Makati where residents, workers and employers can get business permits and health certificates, pay real property and business taxes, apply for Makatizen Card, and obtain digital vaccination certificate for individuals going abroad.