The Procurement Service - Department of Budget and Management (PS-DBM) conducted its mid-year inventory of stocks for 2021 on July 15 and 16, in accordance with the Chapter 8 of Section 13 of the Government Accounting Manual (Volume I).
This is also in compliance with Office Order No. 116-2021 to check PS-DBM's integrity of property custodianship; account for the actual inventory of sale and for consumption; track the missing delivery receipts that lack sales invoice; and correct errors in posting of inventory in and out, among other purposes.
The semi-annual requirement was carried out by teams composed of Main Office personnel for the warehouse in Paco, Manila and regional employees for the depot offices nationwide. This two-day activity was led by PS-DBM Operations and Regional Operations Group Director Atty. Jolas E. Brutas.
In this period of physical counting and system cut-off, there is no movement of stocks and no manual preparation of documents.
Upon verification of the final inventory count, and the determination of damaged, missing, or expired inventory, if there are any, discrepancies are adjusted as necessary.