Dormant NGC Account Without Breakdown
National Housing Authority · 2022
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: Financial ManagementIssue: Non-complianceA large amount of money (about 297 million pesos) is sitting in an accounts payable account with no explanation of what it is for, and it has not been touched since 2005. This is a red flag because it suggests the amount might be unverified or no longer valid, and it lacks proper documentation.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"It also consists of P296.904 million in NGC, which has no breakdown and has been dormant since its transfer from the HGC Controllership Department to NHA in CY 2005 based on the Audited Financial Statements and Schedules as of March 31, 2005."