Unutilized Cash Allocations Reverted to Bureau of the Treasury
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceAbout 3.7 billion pesos of cash allocations were not used before the deadline and had to be returned to the government treasury.
Why It Matters
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Original Audit Finding Excerpt
"Out of the total notices of cash and transfers of allocations of P1,529,201,455,146.12 received by different Offices in CY 2024, P1,525,489,618,918.42 or 99.76 percent was utilized, while the remaining P3,711,836,227.70 representing 0.24 percent was not utilized within the validity period, thus, reverted to the Bureau of the Treasury."