P5.5M unliquidated funds in Sibonga

CEBU, Philippines - Some officers and employees of the Municipal Government of Sibonga have accumulated P5.5 million unliquidated cash advances last year.

The report of the Commission on Audit (COA) for 2012 disclosed that of the total cash advances amounting to P5.5 million, some were overdue for as long as five to 10 years.

"We also noted that municipal officials and employees were granted another cash advance even if the previous cash advances were not yet liquidated and have been long overdue," read the audit report. 

COA said that the municipality's failure to comply with pertinent rules and regulations on the granting, utilization and liquidation of cash advances could possibly expose unused or unremitted cash in the hands of concerned accountable officials to misapplication due to long overdue liquidation and settlement. 

The municipality, in its comment, said that liquidation of cash advances for intelligence and confidential fund in the amount P4.6 million were already sent to COA Central Office for audit.

Further, it is also now strictly complying with the provisions of the COA circular on the granting, utilization and liquidation of cash advances. 

COA recommended that accountable officers with outstanding balances be required to immediately submit their liquidation report and documents.

The accounting section was also required to record the liquidation documents submitted by the concerned accountable officers so that the corresponding expense accounts will be booked up.

COA further recommended that the municipality should impose sanctions on accountable officers who fail to liquidate their cash advances within the prescribed period thru the withholding of their salaries especially those with unliquidated balances totaling more than P50,000 and those with cash advances that have remained outstanding for more than one year.— (FREEMAN)