Close  

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.

ADVERTISEMENT

“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.

FEATURED STORIES

However, his administration failed to turn over any document about the city’s financial situation to Mayor Francisco “Isko Moreno” Domagoso.

Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

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.

TAGS: COA, Commission On Audit, Joseph Estrada, Manila cash deficit, Manilay City government
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.