The agency has a large amount of money in bank accounts that has been frozen because of a court case. They tried to get it unfrozen but as of the audit date, they still didn't know the outcome, so the money is still not available.

Why It Matters

Recommended Actions

No recommendations are available for this finding yet.

Original Audit Finding Excerpt

"The account also includes current and savings accounts totaling P294.266 million that were garnished by PVB pursuant to Construction Industry Arbitration Commission (CIAC) Case No. 13-2014, involving a contractor and NHA. The Court of Appeals issued a final and executory decision on October 16, 2016, reversing the final award, dismissing the complaint and denying the contractor’s Petition for Review. On November 8, 2018, NHA filed a Very Urgent Motion to Lift/Cancel Notice of Garnishment and Release Order of Money to CIAC. Subsequently, on November 21, 2018, NHA requested PVB to immediately unfreeze the deposited funds. In response, PVB's Litigation Department directed NHA's request to the handling Sheriff of Bulacan to issue the necessary order to lift the garnishment. Despite NHA's efforts, as of September 27, 2021, the status of the filed Very Urgent Motion remained unknown, as the requested information from CIAC was not received."

Source Document