January 23, 2018, 11:46 pm
Facebook iconTwitter iconYouTube iconGoogle+ icon

COA recovers P1.54B from disallowed transactions

THE Commission on Audit has recovered P1.54 billion in public funds from disallowed transactions of various government agencies in 2016, a whopping 208 percent increase from P500 million settled the year before.

In a statement released yesterday, COA said the bulk of the settled disallowances totaling P1.3 billion came from the Education and Employment Cluster of the National Government Sector.

The COA attributed its accomplishment to its continuing effort to improve the recovery of unsettled liabilities by government agencies and officials.

Part of this initiative is the development of an information system to monitor implementation of audit recommendations issued through Audit Observation Memorandum (AOM), Notices of Suspension (NS), Notices of Disallowance (ND) and Notice of Charge (NC).

A notice of disallowance is issued against fund disbursements that did not comply with existing rules and requires refund of the amount involved.

On the other hand, a notice of suspension is issued when a transaction has incomplete documentation but may be lifted once the full supporting documents are submitted.

The COA issues notices of charge where there are under collection or under remittance of revenues due the nation’s coffers.

“We are focused on ensuring that public funds are expended or utilized according to laws, rules and regulations and preserving resources against wastage and unnecessary, excessive, extravagant and unconscionable expenditures,” COA chairman Michael G. Aguinaldo said.

He explained that while the COA was not vested with enforcement powers, it is able to step up its campaign to enable the payment and settlement of the amounts disallowed by regularly reminding agencies of their obligations.

“Increasing our efforts in getting the amounts disallowed paid and settled, and remitted to public coffers, is one way for the Commission to create a greater impact in governance,” Aguinaldo added.

In 2016, the Commission issued 4,775 NDs amounting to P4.5 billion.

Notices of suspensions meanwhile involved transactions amounting to P9.10 billion, of which almost half has been settled at around P4.06 billion.
No votes yet

Column of the Day

Facebook’s constant state of denial

By ABIGAIL VALTE | January 23,2018
‘Funny that Facebook is concerned about objectivity problems but turns around and gives the users the power to rank based on their standards of trustworthiness.’

Opinion of the Day

Ressa and Mocha

By DAHLI ASPILLERA | January 24, 2018
‘Two female news dispensers, CEO Maria Ressa of Rappler On-line News and Mocha Uson of the Presidential Press Office are themselves now in the news.’