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 gave money to local governments without proper tracking and liquidation, resulting in billions of pesos in unaccounted funds.
Why It Matters
Recommended Actions
- Coordinate with the concerned LGUs for the submission of their liquidation reports and the return of unutilized funds, in the case of advances, particularly those accounts that were released for more than a year
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."