Dormant Advances to Contractors Balances Amount to P518.49 Million
Department of Public Works and Highways · 2023
Severity: HighRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency still held more than half a billion pesos in old, unpaid advances to contractors that had not been settled, verified, or formally written off.
Why It Matters
Recommended Actions
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Original Audit Finding Excerpt
"Existence of dormant account balances – P518,493,182.67"