Improper management of fund transfers and loans to LGUs
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency mismanaged money given to local governments, leaving billions in unaccounted advances and unpaid loans.
Why It Matters
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Original Audit Finding Excerpt
"Improper management of the fund transfers and loans granted to LGUs from CYs 1992 to 2023 for land development and housing construction resulted in the accumulation of unliquidated advances and loans receivable totaling P4.469 billion and P186.503 million, respectively, as at December 31, 2023, contrary to the relevant provisions of PD No. 1445, also known as the Government Auditing Code of the Philippines, and NHA MC No. 2018-030 dated October 12, 2018."