Cancellation and reclassification of allotment for North Triangle Relocation Project
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceA budget allocation for a relocation project was cancelled and then reclassified under a different category, which may indicate improper fund management.
Why It Matters
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Original Audit Finding Excerpt
"The original allotment for the North Triangle Relocation Project amounted to P450 million. However, the amount of P286.702 million was cancelled by DBM and subsequently provided a supplemental appropriation of the same amount for CY 2014, which was reclassified under Other Releases."