Unreleased and unclaimed Guaranty Security/Deposits Payable
Department of Public Works and Highways · 2023
Severity: ModerateRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceMoney being held as security deposits for completed projects has not been returned because some contractors have not claimed it, and the issue remained in the latest audit.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"some have not filed their claims yet, hence similar observation was still noted during the year."