Dormant Land Assembly Amount Lacks Breakdown
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThere is a large amount of money for land that has not been used for a long time and we don't have details on what it is for.
Why It Matters
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Original Audit Finding Excerpt
"It also consists of P70.038 million in NGC, which has no breakdown and has been dormant since its transfer from the HGC Controllership Department to NHA in CY 2005, based on the Audited Financial Statements and Schedules as at March 31, 2005."