Unfinished Calamity Projects Due to Insufficient Funding
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: InefficiencyFive projects that were already bid out and started are still not finished because there is not enough money to complete them, showing low progress and poor planning.
Why It Matters
Recommended Actions
- Ensure that all contracts to be awarded to contractors for the proposed housing projects have sufficient funds;
Original Audit Finding Excerpt
"As indicated in the table above, the projects were granted a SARO and went through the required public bidding but were not completed due to insufficient funds as outlined in the RPPPA as at December 31, 2024. Additionally, the completion rates of the aforementioned projects range between 3.01 per cent and 52.17 per cent."