Unliquidated Fund Transfers to NGAs Aged Over 10 Years
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency is still carrying old fund transfers to other government agencies that were never properly accounted for. Despite asking repeatedly, the agencies did not submit the required spending reports, and some records are even missing.
Why It Matters
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Original Audit Finding Excerpt
"It also includes dormant account, which cannot be verified due to non -availability of supporting records, and prior year’s unliquidated cash fund transfers, aged more than 10 years, with no liquidation report received from the source agency despite repeated demands."