Dormant funds in Fund Cluster 07 bank accounts
Department of Public Works and Highways · 2024
Severity: ModerateRecommendation: Unknown
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What Happened?
Category: Financial ManagementIssue: Dormant AccountSome bank accounts in Cluster 07 contain old or inactive funds that should be returned to the Treasury once the related payments are finished.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"The accounts also include dormant funds and deposits for pending disbursements, with proceeds to be remitted to the Bureau of the Treasury after completion of related obligations."