PSG housing project cost exceeded allowable cost
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency spent too much money on these houses, exceeding the price limits set by the government.
Why It Matters
Recommended Actions
- Coordinate with the National Agency to establish an agreement and settle terms of payment and provide justification for project cost exceeding the allowable cost set under DHSUD/NEDA Joint MC No. 2023-003
Original Audit Finding Excerpt
"The computation revealed that the townhouse and LRB units exceeded the specified area by 68 sqm and 9 sqm, respectively. Additionally, the cost of the housing project exceeded the allowable cost by P44.100 million for townhouses and P104.747 million for LRB units. Hence, the construction of the project is considered excessive, contrary to COA Circular No. 2012-003 and the NHA Charter."