Disbursements for Loans Without Individual Loan Agreements
National Housing Authority · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceOver a billion pesos in housing project funds were disbursed without the required individual loan contracts or identified beneficiaries.
Why It Matters
Recommended Actions
- Strictly comply with Section 4.6 of PD No. 1445, Section 3.1(b) of MC No. 2376 and Sections 2.5 and 7.6 of the TOR on CIA and other relevant MCs issued for ISFs Living in Danger Areas on the requirements for determining the qualified beneficiaries/awardees as basis for the execution of ILA.
Original Audit Finding Excerpt
"Agency Action Plan Reason for > Partial/Delay/ Ref. Audit Observations Audit Recommendations - Target Implementation Status of Non- Action Taken/Action to be Action Plan PersoniDept. Date implementation | Implementation, Taken Responsible From To if applicable - Memorandum dated May 30, | 2022 (Request for Funding Requirements/Issuance of CBAs for Various Variation Orders/Extra Work Orders) cy 2020 Administered trust funds a. Strictly comply with the Accounting Not implemented This finding was reiterated AAR entrusted by DPWH, DOTr, OP | provisions of MOA, GAA for FY Department with modification in Observation | and NGC amounting to P3.734 | 2020 and PD No. 14465 relative . ” No. 9, page | billion, 796.325 million, | to the use of trust fund by FMD Observation No. 26, 103 P942.383 million and P50 | spending only for the specific Annex B of this Report. million, respectively were used | purpose for which the trust was Region 9 Please refer to the by NHA for other housing | created or"