The money that the developer should have paid to NHA from the joint venture was not properly tracked. The developer said they paid more than what NHA recorded, and there were no official audited reports to confirm the actual amounts. So NHA couldn't issue a proper bill or statement.

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Original Audit Finding Excerpt

"From CY 2015 to the present, the total collection received from the developer representing NHA’s share from the RPPP amounted to P1.531 billion, based on the actual net proceeds recorded by the AD. However, the developer’s submitted report presented during the inspection of the subject property indicated a total remittance of P1.630 billion. The difference may pertain to the six per cent capital gains tax, which was included in the developer’s computation but not recorded by the AD. According to the AD-BAPD, the financial report submitted to them consisted only of collections from the developer. They further stated that the NCR East Sector Office (ESO) or the QCDO did not provide audited FS or reports to assess the correctness of the amounts collected and still collectible from the developer as at December 31, 2024. Consequently, no Statement of Account or billing statement was issued to the developer for any amount due and demandable."

Source Document