P609-M unrecorded deposits, disbursements flagged
She admitted that they have ‘lapses’ in handling these deposits, but insisted that it should not only be the CTO which should take responsibility as it is a joint effort with other departments.
Daily TribuneShe admitted that they have ‘lapses’ in handling these deposits, but insisted that it should not only be the CTO which should take responsibility as it is a joint effort with other departments.
The Commission on Audit (CoA) in its 2023 annual audit report, flagged down more than P609 million unrecorded deposits and disbursements of Cebu City under suspended Mayor Michael Rama. CoA revealed that the unrecorded deposits even rose to 788 percent, despite having the same observation during the previous audit report.
The report said that credits or deposits in the city’s current bank accounts amounting to P609,519,462.64 and disbursements totaling P27,795,565.32 from fiscal years 2014 to 2023 were not taken up in the books of accounts.
But Cebu City Treasurer Mare Var Reyes said the advance payments were not reflected since a new system was implemented in 2019.
She expressed optimism that the city can curb the increase by this year’s audit.
She clarified further that what was flagged down were amounts that were deposited but were not recorded in the city’s books of accounts.
Reyes cited that these amounts have accumulated since implementing the new system in 2019, especially on Real Property Taxes.
The new system was done in coordination with CoA itself, as well as the city’s Management Information and Computer Services and the city’s accounting office.
She admitted that they have “lapses” in handling these deposits, but insisted that it should not only be the CTO which should take responsibility as it is a joint effort with other departments.
Reyes admitted that the 788 percent increase in the unrecorded amounts is “ alarming.”
Aside from these findings, CoA flagged down unused medical equipment at Cebu City Medical Center and the “ unrealistic” income projection and a bloated budget of P50 billion.
