Reversion of cash allocations due to cash utilization inefficiencies
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Internal Control DeficiencyThe agency returned millions of pesos of cash allocations to the Treasury because offices had not used the funds, often due to paperwork, coordination, and check-processing mistakes.
Why It Matters
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Original Audit Finding Excerpt
"Similarly, Cotabato 2nd DEO reverted cash allocations totaling P18,153,398.26 for the second quarter and P1,183,865.68 for the fourth quarter, indicating underutilization of funds. Although the total amount reverted for CY 2024 — P19,337,263.94—represents only 0.68 percent of the total cash allocations received, it still reflects inefficiencies in cash utilization and fund management."