Non-turnover of Completed Infrastructure Projects to End-Users
Department of Public Works and Highways · 2024
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Property, Plant and EquipmentIssue: Non-complianceMore than 1,300 completed infrastructure projects worth over P17.2 billion have not been formally transferred to the agencies that are supposed to operate and maintain them, so the DPWH's books still show these assets as its own, overstating its assets and net position.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"A review of the SL accounts of various DPWH Offices revealed that 1,368 completed projects with total cost of P17,269,712,316.90 are still carried in the books of the DPWH under the CIP and various Infrastructure Assets accounts, and not yet transferred to the end-users or source/recipient agencies, resulting in the overstatement of both the CIP and Accumulated Surplus/(Deficit) accounts by the same amount."