Unliquidated Cash Advances to LGUs
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe NHA gave money to local governments for housing projects, but a large portion (over half) has not been accounted for or spent properly, which is against the rules.
Why It Matters
Recommended Actions
- Strictly monitor the completion of project being implemented and require the immediate liquidation of funds received by LGUs to avoid accumulation of unliquidated funds;
Original Audit Finding Excerpt
"Out of the P4 billion balance of advances/fund transfer to various LGUs for the land development and housing construction, the amount of P2.082 billion or 52.05 percent remain unliquidated as at December 31, 2024, contrary to the related provisions of PD No. 1445, and NHA MC No. 2018-030 dated October 12, 2018."