Reclassification of payments from Typhoon Yolanda housing project
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Non-compliancePayments that were originally recorded under a specific project were moved to the correct budget category after reconciliation, indicating that the initial recording was incorrect.
Why It Matters
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Original Audit Finding Excerpt
"Fund utilizations for CY 2023 and prior years were reclassified as follows: Based on the reconciliation, payments that had previously been reported under the Permanent Housing Project for Typhoon Yolanda were reclassified to their proper chargeability based on their funding source."