Philstar
OVP: No loss of funds in COA report
The Office of the Vice President (OVP) stated that the 2024 Commission on Audit (COA) report found no loss or wastage of government funds or property under their management.
The OVP emphasized that the COA issued an unmodified opinion on their financial statements, indicating fairness in their presentation.
The OVP management discussed audit observations with COA and agreed to implement all recommendations proposed.
However, the COA report flagged two major programs for issues in guidelines and low utilization of funds.
Specifically, the PagbaBAGo Campaign had incomplete guidelines and procedures.
Additionally, the Mag Negosyo Ta 'Day program had a low budget utilization, with only P600,000 or 0.4 percent of P150 million spent as of December 31, 2023.
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