Actual receipts exceed final budget by ₱912 billion due to unbudgeted subsidy and gains
Department of Public Works and Highways · 2023
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency received about ₱912 billion more than what its approved budget anticipated, almost entirely due to subsidies and gains that were not included in the budget plan. This indicates that the budget was not a complete or accurate forecast of the agency's funding sources.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Assistance and Subsidy 0.00 0.00 913,004,553,438.64 913,004,553,438.64 Gains 0.00 0.00 343,690,871.12 343,690,871.12 Others 1,729,836,490.72 1,729,836,490.72 296,273,873.36 (1,433,562,617.36) Non-Operating Income/Revenues 1,729,836,490.72 1,729,836,490.72 296,273,873.36 (1,433,562,617.36) Total Receipts 3,459,672,981.44 3,459,672,981.44 915,468,693,640.74 912,009,020,659.30"