Improper Management of Fund Transfers and Loans to LGUs
National Housing Authority · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceThe agency mismanaged money given to local governments, resulting in billions of pesos in unaccounted funds and unpaid loans.
Why It Matters
Recommended Actions
- Assign an office or a department, other than the AD and FMD, in the Central Office to act as a technical monitoring body who will report to the Office of the Assistant General Manager (OAGM) and Office of the General Manager (OGM) on the status of the projects in the ROs/DOs wherein funds were released to LGUs for its implementation
Original Audit Finding Excerpt
"Improper management of the fund transfers and loans granted to LGUs from CYs 1992 to 2023 for land development and housing construction resulted in the accumulation of unliquidated advances and loans receivable totaling P4.469 billion and P186.503 million, respectively, as at December 31, 2023, contrary to the relevant provisions of PD No. 1445, also known as the Government Auditing Code of the Philippines, and NHA MC No. 2018-030 dated October 12, 2018."