COA reports ‘lapses’ in grant, liquidation of Aquino SBMA officials’ cash advances

Posted by Sana on 01/11/2017 in Cash Advances | Short Link

THE Commission on Audit (COA) has questioned Subic Bay Metropolitan Authority (SBMA) officials cash advances amounting to P14.1 million during the Aquino administration.

In its audit report, the commission said there are lapses in the grant and liquidation of cash advances involving P14.1 million to SBMA officials, who were not even duly designated as disbursing officers.

The agency said the cash advances and inadequate documentation of liquidations totaling P5.5 million exposed government funds to risks of misappropriation or loss and cast doubt on their regularity.

The COA reported that the postaudit of disbursement vouchers (DVs) for cash advances with their liquidation reports revealed that the cash advances were granted to seven SBMA officers, six of whom were not duly designated as disbursing officers.


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