Manila gov’t verifying COA report on cash deficit | Inquirer News

Manila gov’t verifying COA report on cash deficit

/ 05:04 AM July 09, 2019

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.

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TAGS: COA, Commission On Audit, Joseph Estrada, Manila cash deficit, Manilay City government
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