Uncollected Loan from Former Congressman
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency failed to collect a loan of P2.375 million that was supposed to be paid by a former congressman for a water system project, violating the agreement.
Why It Matters
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Original Audit Finding Excerpt
"128 AGENCY ACTION PLAN and STATUS OF IMPLEMENTATION RESULTS OF COA VALIDATION Ref. Audit Observations Audit Recommendations Agency Action Plan Status of Implementati on Reason for Partial/Delay / Non- Implementation, if applicable Action Taken/Action to be Taken Date of Follow- up Status of Implemen- tation Actual Implementation Date Remarks Action Plan Person /Dept. Responsible Target Implementation Date From To From To c. Require the representatives from SO/RO/DO and AD to sit down for the reconciliation of LUD and Accounting records; and Not Implemented Not implemented - - d. Set timeline for each SO/RO/DO in cleansing the Other deferred credits -Deposit liabilities in the books. Not Implemented Not implemented - - No.12 page 135 The recognition of the housing units in NHA's books as Inventory held for manufacturing and land as Land for future projects in NGC's books ove"