The delayed remittance of the National Telecommunications Commission’s collections of telecommunications fees expose the government resources to risk of loss or misuse, the Commission on Audit said.

In its report covering 2022, CoA discovered that some collections of NTC Regional Offices V and VI were not deposited intact daily or the next banking day, which runs counter to Section 69 of Presidential Decree 1445, mandating that collections from taxes, revenues, or receipts of any kind must be deposited to the agency’s treasury.

It also contradicted Item D, Appendix 26 of the government accounting manual, which provides that collections should be deposited intact daily, or on the first banking hour of the next day in case it hit the cut-off.

“The keeping of cash, regardless of the amount, for some time longer than that prescribed exposes it to risks of being stolen and could also pose a temptation to commit fraud,” CoA said.