Physical Inventory Plan
Physical Inventory Plan
PROPERTY, PLANT AND EQUIPMENT (PPE), RECOGNITION OF PPE ITEMS FOUND AT STATION, AND
DISPOSITION FOR NON-EXISTING/MISSING PPE ITEMS, FOR THE ONE-TIME CLEANSING OF PPE
ACCOUNT BALANCES
Pursuant to Commission on Audit (COA) Circular 2020-006 dated 31 January 2020, this plan is hereby
prepared to ensure the efficient conduct of Physical Inventory Taking for purposes of Recognition of
all PPE’s found at the station and Disposition of Non-existing/Missing PPE Items, for the One-Time
Cleansing of PPE Account Balances at the Municipal Government of Laak.
I. Preliminary Activities
a. The Office of Municipal General Services will schedule a meeting with the Office off
the Municipal Accountant on ____________, 2024 @ __am/pm to discuss Guidelines
and Forms in the conduct of Physical Inventory of PPE in the
____________________.
b. The Inventory Committee, thru the Office of Municipal General Services Officer, will
schedule a coordination meeting with all the Department/Offices of LGU Laak on
________.
Agenda:
The Chairman of the Inventory Committee will assign the following roles of the members
of the inventory committee.
ROLES RESPONSIBILITIES
CHECKERS Responsible in checking the description of
items as listed in the Inventory Report of
PPE and state the actual condition of the
items in the Inventory Count Form as
follows;
1. In Good Condition
2. Needing Repair
3. Unserviceable
4. Obsolete
5. No Longer Needed
6. Not used since purchase/delivery
1. The Chairman, Inventory Committee provides the Checkers and Counters a copy of updated
Inventory Report of PPE, Inventory Count Form and supplies needed.
2. The Checkers and Counters will take the first step on the actual undertaking followed by the
Taggers and Validators Taking the last step.
3. Checkers and Counters submit accomplished ICF form to the Chairman, Inventory
Committee, or its designated member.
4. The Inventory Committee will review, consolidate, and finalize the Inventory Count Form and
prepare a report using Microsoft Excel Format.
5. The MGSO Personnel and MAO Personnel updates respective reports of PPE and prepare all
required documents in the conduct of inventory taking.
6. All reports will be scanned and uploaded in a google drive which will be shared during the
coordination meeting.
7. Monitoring and Validation of reports will commence by the Inventory Committee during the
meeting.
8. Inventory Committee will finalize reports and reconcile balances in the Books of Accounts.
9. The Municipal General Services Office will submit Finalize Report of Physical Count of
Property, Plant and Equipment and Items for derecognition to Commission on Audit.
10. The Municipal General Services Office will recommend preparation of Inventory and
Inspection Report of Unserviceable Properties found during the conduct of Physical
Inventory Taking.