Manila gov’t verifying COA report on cash deficit
MANILA, Philippines — The Manila City government has tapped its budget officer and city accountant to look into reports that the former administration left a cash deficit of P4.39 billion.
The Commission on Audit (COA) earlier said in a report that as of Dec. 31, the city only had a general fund of P5.36 billion compared to P9.05 billion in payables and obligations.
“The city government is verifying the data,” Julius Leonen, Manila’s public information officer, said in a statement.
The COA findings were contrary to the claim of former Mayor Joseph “Erap” Estrada that the city’s financial standing was sound. He had frequently said during his six-year term that this was one of his accomplishments.
However, his administration failed to turn over any document about the city’s financial situation to Mayor Francisco “Isko Moreno” Domagoso.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.