Irregular Payment of Group Personal Accident Insurance (GPAI) Premiums
National Housing Authority · 2023
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-complianceNHA spent money on an insurance policy (GPAI) that it was not required to pay, included people who had already left the agency, and did not get the necessary approval from the President's office. This is considered an improper use of government funds, so the agency must stop paying and refund the money.
Why It Matters
Recommended Actions
- Discontinue paying the premiums of GPAI for all NHA officers and employees pending the receipt of authority from the DBM and the OP
Original Audit Finding Excerpt
"Foregoing considered, since the GPAI policy is not a mandatory and compulsory obligation of NHA to GSIS, exceeded by 14 separated employees, and is not supported with the approval/authority from the OP, this is an irregular expenditure per COA Circular No. 2012-003."