Unconfirmed and Questioned Share of Proceeds from Military Camps
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-complianceThe NHA is unsure about its share of money from the sale of military camps. Only one agency confirmed receiving its share, and there are questions about how some of the money was used.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"The DHSUD will be writing to the BTr to validate/confirm the P1.800 billion releases in 1995 and 1996 to the three agencies. Apparently, the amount of P1.050 billion was downloaded to NHMFC, P700 million to NHA, and P50 million to HIGC. Only NHMFC confirmed the receipt from the BTr. On March 17, 2022, the NHA sent a letter to BCDA raising questions on the share of P806 million that was applied to the payment of properties transferred by BCDA to NHA by virtue of EO No. 70, as amended by EO No. 465. According to BCDA, out of the total P2.775 billion representing 12 per cent shares from the disposition proceeds for the period May 1993 to December 2021, P806 million was applied to properties transferred to NHA, and P1.970 billion was remitted to the BTr."