Republic of the Philippines

CAMIGUIN POLYTECHNIC STATE COLLEGE

Balbagon, Mambajao, Camiguin
-oOo-

PHYSICAL INVENTORY PLAN (PIP) FOR THE CONDUCT OF ACTUAL PHYSICAL

COUNT OF PROPERTY, PLANT AND EQUIPMENT (PPE) FOR THE ONE-TIME
CLEANSING OF PPE ACCOUNT BALANCES OF GOVERNMENT AGENCIES

Pursuant to the Commission on Audit (COA) Circular No. 2020-006 dated January 31, 2020,
this plan is hereby prepared to ensure the efficient conduct of Physical Inventory taking for purposes
of recognition of PPE items found at the station and disposition for non-existing or missing PPE
items, for one -time cleansing of PPE account balances of the Camiguin Polytechnic State College
(Main Campus and Catarman Campus).

I. Preliminary Activities

The Inventory Committee, thru the Supply Office, must undertake the following
Preliminary Activities:

a. Initiate coordination meetings with the Accounting Unit and Internal Audit Service in
sorting out issues on record discrepancy.
b. Procurement of needed equipment and materials to be used in property tagging and
inventory taking.
c. Timeline of various preliminary activities to be undertaken by Supply Unit

Activities Date of Conduct

Printing and Segregation of Property Acknowledgement
receipt per employee March 25-27, 2024

Printing of List of Property per Employee Accountability March 25-27, 2024

Printing of List of Properties per Location/Office March 25-27, 2024

Printing of List of PPEs for Disposal To be determined after the

conduct of Physical Count
Printing of List of Non-Existing / Missing PPEs
Preparation of Property Cards March 25-27, 2024

II. Designation of Physical Inventory Team

 The Inventory Committee may designate personnel from other offices in addition to the
Audit and Accounting Divisions to undertake the task of Physical Counting for check and
balance. The number of personnel to undertake the physical Inventory Taking shall
depend on the magnitude or scope of work.
Role Duties and Responsibilities
Checkers and Counters  Responsible in checking the
(at least 3 persons including Office existence of PPE and Semi-
Property Custodian) Expendable equipment/furniture,
1. items not included in the Inventory
2. Working Paper and the actual
3. condition of the item, i.e.
1. In good condition
2. Needing Repair
3. Unserviceable
4. Obsolete
5. No longer needed
6. Not used since purchase
 Items not included in the said
working paper shall be listed and
considered “found at station” using
the List of PPEs found at Station
provided by the COA.
 Responsible in the verification of
Accountable Officer for the
particular item per office using the
working paper as basis.
 Confirm all accountabilities based on
Inventory Working Paper must be
reported to Supply Office for
preparation of renewal of Property
Acknowledgement Receipt (PAR)
and Inventory Custodian Slip (ICS).
New PAR and/ ICS is prepared in
case there is a change in Accountable
Officer.
 Affix temporary tags and assign
sequence number to all items as
guide for the “Taggers” to follow in
laying the final property tag of the
items.
 Submit report per office per item to
Supply Office for the preparation and
printing of property tags.

Taggers  Responsible for laying the final tag

(at least 3 persons including Office based on the report submitted by the
property Custodian) Counter and Checkers and prepared
1. Property Tags (Stickers) by
2. administrative personnel
3.
Validators  Countercheck the Inventory Working
(Internal Audit and Accounting) paper based on the number of PPEs,
1. semi-expendable equipment, and
 2. those “found at the station” as
3. declared by the Counter and
4. Checkers including the color code of
equipment based on each category.
Supply Office Personnel  Responsible for the orientation of
1. designated Inventory Team for
2. various category and classifications
3. of PPE and semi-expendable items.
 Responsible for the preparation and
printing on Inventory Working Paper
per Office that will be used by the
Checkers in verifying the existence,
condition, and accountable officer of
the items.
 Responsible for printing Property
Tags per equipment per category per
office based on the submitted list
from Checkers.
 Responsible for cross-checking
copies of PAR and ICS for all items
Not found during the Inventory
Taking.
 Preparation of new/renewal of PAR
and ICS.
 Facilitate signing of PAR and ICS.
 Responsible for updating of Property
WITNESS:
Card and Stock Card
 Responsible for the preparation of
Representative from Commission on
Report of PPE and Physical Count of
Audit (COA)
Inventories
 Responsible for providing the
Inventory Committee with the list of
items for derecognition

III. Physical Inventory Taking

The flow of the personnel designated to do the task must be coordinated and organized
for efficient and smooth of the activity.

1. The Supply Office Support will provide the Inventory Working Paper in Inventory
Committee.
 2. Prior to the start of physical inventory, an orientation will be facilitated by Supply
Office on various classifications of PPEs and other issues that may arise during the
Inventory Taking.
3. Assigned Checkers and Counters will take the first step on the actual undertaking,
followed by Taggers and Validators taking the last step.
4. All items considered “Found at the Station” will be appraised and shall be submitted
to the Accounting Division for recognition as fixed asset if appraised value is P
50,000 above. A PAR will be issued accordingly to the Accountable Officer.
Otherwise, an ICS will be issued to monitor the accountability.
5. The inventory taking is expected to be finish in two (2) months, hence, all members
will be relieved from their duties as indicated in section 5.3 of the COA Circular.
6. Items not found during the conduct of Physical Inventory Taking but was included in
the “Inventory Working Paper” will be checked based on PAR and ICS on file.
7. All missing items without proof of accountability shall be submitted to the Inventory
Committee for endorsement to COA for derecognition.

IV. Schedule of Physical Inventory Taking

To ensure the smooth undertaking of physical inventory taking, strict observance of the
recommended schedule must be properly followed. The approach of Physical Inventory
Taking shall be per unit per office per person.

UNIT SCHEDULE
Institute of Arts and Sciences Office April 01- 05, 2024
Institute of Business and Governance April 01- 05, 2024
Institute of Teachers Education April 01- 05, 2024
Institute of Technology April 01- 05, 2024
Institute of Engineering and Computer Science April 01- 05, 2024
Learning and Information Center (College Library) April 08, 11 – 12, 2024
Planning Office April 08, 11 – 12, 2024
Human Resource Office April 08, 11 – 12, 2024
Budget Office April 08, 11 – 12, 2024
Accounting Office April 15 – 19, 2024
Cashier Office April 15 – 19, 2024
Chief Administrative Office April 15 – 19, 2024
Registrar Office April 15 – 19, 2024
General Services Office April 22 – 26, 2024
Vice President of Academic Affairs Office April 22 – 26, 2024
College President Office April 22 – 26, 2024
College/Board Secretary Office April 22 – 26, 2024
College Clinic April 22 – 26, 2024
Computer Laboratory April 29 – 30, 2024
Physical Plant and Development Office April 29 – 30, 2024
Research and Extension Office April 29 – 30, 2024
Production Services Office May 02- 03, 2024
Supply Office May 02- 03, 2024
BAC Office May 02- 03, 2024
Guidance Office May 02- 03, 2024
Office of the Student Affairs Services May 06 – 10, 2024
Sports Coordinator Office May 06 – 10, 2024
Quality Management Services/ISO Office May 06 – 10, 2024
Data Center May 06 – 10, 2024
 Skills Development and Assessment Center May 06 – 10, 2024
Science Laboratory May 13 – 17, 2024
Engineering Laboratory May 13 – 17, 2024
Guest House May 13 – 17, 2024
Guard House May 13 – 17, 2024
Assessment Office May 13 – 17, 2024
Scholarship Grant Office May 13 – 17, 2024
Catarman Campus May 20 -24, 2024

V. Submission of Report

Based on the COA approved derecognition, findings and reconciliation result of the
actual inventory taking, the inventory Committee shall submit the Final Report of
Physical Count of Property, Plant and Equipment (RCPPE) to the COA.

The said report will now be the basis for the Accounting Unit to update its Property, Plant
and Equipment Ledger Card (PPELC) and will serve as the beginning balance after the
“One Time Cleansing”.