Unliquidated and long-outstanding inter-agency fund transfers
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe department received about 134 million pesos from other agencies for projects that are already finished, but it has not yet accounted for how the money was spent. Another 131 million pesos has been sitting unpaid for more than three years, which violates government accounting rules.
Why It Matters
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Original Audit Finding Excerpt
"unliquidated fund transfers totaling P134,375,000.00 despite the projects or the intended purpose were already completed and P130,929,745.87 which remained outstanding for more than three years, thus, not in keeping with Chapter 6, Volume I of Government Accounting Manual for National Government Agencies, and COA Circular Nos. 97-001 and 2016-005."