Unutilized Cash Allocations Reverted to the Bureau of the Treasury
Department of Public Works and Highways · 2024
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What Happened?
Category: Cash ManagementIssue: Non-complianceThe office received a huge amount of cash from the national budget for its programs, but around 3.7 billion pesos were not spent before the deadline and had to be returned to the central 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 di fferent Offices in CY 2024, P1,525,489,618,918.42 or 99.7 6 percent was utilized, while the remaining P3,711,836,227.70 representing 0.2 4 percent was not utilized within the validity period, thus, reverted to the Bureau of the Treasury."