Guimaras in over P400M fiscal mess
The Province of Guimaras is in a bind in as far as fiscal management is concerned. With over P400 million in questioned accounts and transactions, the Commission on Audit (COA) called on the attention of provincial officials to take appropriate actions if only to correct the system and the multi-million in 'messy' accounts.
For instance, the Guimaras Provincial Hospital's (GPH) operation was also discovered to have failed in meeting requirements set by law particularly on its conversion as "economic enterprise." As such, government auditors came out with a clear message, "...the adoption of the GPH as economic enterprise is even disadvantageous to the province and the GPH as a whole."
A total of eleven findings were disclosed by the Commission as it furnished the province with its 2005 Annual Audit Report including the GPH concern.
First off, COA noted that there is an "overstatement" in Plant, Property and Equipment (PPE) Account and Government equity accounts of P103,505,826.15 due to failure in closing/transferring various public infra to appropriate accounts
Yet another "overstatement" in the Current Assets and Government Equity Accounts due to failure of General Services Offices (GSO) and Accounting offices to monitor receipts and issuances of office supplies under the Special Education Fund (SEF) amounting to P5,423,160.38.
"Overstatement" anew in the Inventory and Government Equity Accounts due to the failure of the GSO and the Accounting offices to account dispositions/issuances of other supplies reported at P3,033,371.43.
COA also questioned the agricultural supplies and agricultural equipment and fishery equipment of P811,500 and P937,981, respectivel,y already issued to farmer beneficiaries in the past year yet still reflected in the latest financial statement
The audit team found that there is "uncertainty" on the validity of balance of the PPE amounting to P345,074,423, "doubtful" SEF schoolbuilding record of P928,668 and "erroneous recording of transactions relating to AFMA-Agrarian Reform Funds projects" where the disclosed amount was placed at P31 million.
The Commission further found a "misstatement of cash in bank account." No specifics were stated though on the total amount supposedly "misstated."
Yet another COA finding is the income projection of Guimaras as reported found by the Commission to be not realistic "hence shortfall of funds could have occurred endangering the implementing of some of its committed projects/programs for the year." Cash shortfall was noted at P15.4 million.
And it is in Guimaras where there are "idle funds" amounting to P56.3 million per month "resulting in a lost of potential earnings of additional income amounting to P1,514,860.16 more than what was actually earned out of current account deposits"