Reduction in fund utilization due to mischarged disbursements
National Housing Authority · 2024
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Financial ManagementIssue: Non-complianceSome expenses were charged to the wrong budget, so the reported fund usage had to be reduced, indicating improper charging of expenditures.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"The fund utilization for CY 2021 and prior years was reduced by P65.792 million due to identified CYs 2013 and 2014 disbursements of land development and construction of housing units that were charged in the allotment for the Iloilo Resettlement Project under DAP and Resettlement Program under regular appropriations. The said reduction is part of the decrease of P206.05 million in the DAP's fund utilization for CY 2021 and prior years and the remaining decrease of P143.623 million was due to reclassification of charges against the regular appropriation of housing project for ISFs living in danger areas in Metro Manila amounting to P28.676 million, and other releases for the North Triangle Relocation Project of P111.587 million."