Flash ReportCOA Uncovers P21 Million in Anomalies and Misappropriations in...

COA Uncovers P21 Million in Anomalies and Misappropriations in Kawit, Cavite

-

- Public Service Reminder -spot_img

In a startling revelation, the Commission on Audit (COA) has brought to light financial anomalies and misappropriations amounting to a staggering PHP21 million within the local government unit of Kawit, Cavite.

The Depth of Discrepancies

COA’s updated report exposes a series of financial irregularities, highlighting a significant overstatement in the municipality’s accounts payable.

The lack of crucial documentation such as delivery receipts and contracts has cast a shadow over the legitimacy of these accounts.

Municipal Mayor Angelo Aguinaldo has been urged by the COA to ensure the Municipal Accountant provides all necessary documentation to validate the recorded Accounts Payable.

In the absence of such proof, adjustments must be made to the financial records to reflect the true state of affairs.

Breaking Down the Overstatement

The PHP21 million overstatement is dissected as follows:

  • Accounts Payable: PHP 4,061,253.35
  • Asset Accounts: Details not specified
  • Expense Accounts: Details not specified

Detailed Asset Findings

The audit report further specifies anomalies in asset categories:

  • Buildings and Other Structures: PHP 2,640,952.75 + PHP 123,730.00 = PHP 2,517,222.75
  • Machinery and Equipment: PHP 0.00 + PHP 123,730.00 = PHP 123,730.00
  • Transportation Equipment: PHP 17,076,733.95 + PHP 1,251,279.60 = PHP 18,328,013.55
  • Total Misappropriated Funds: PHP 19,969,966.30

COA’s findings are a sobering reminder of the critical need for transparency and proper financial governance.

The people of Kawit now look to their leaders for swift action and accountability in the wake of these revelations.


Discover more from Cavite News

Subscribe to get the latest posts sent to your email.

cavite.news
cavite.newshttps://cavite.news
We, the people of Cavite, recognize that in order to achieve our goals and aspirations, we need to be empowered and well-informed of the news and events that affect us and our cities and towns. We need to have access to accurate, relevant, and timely information that will enable us to make informed decisions and take appropriate actions.

4 COMMENTS

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest news

Cavite’s Paliparan-GMA bypass road nears completion, seen to boost connectivity

Construction of the Paliparan-GMA Bypass Road in Cavite is nearing completion, with officials saying the project will help ease...

Minor Nabbed in Cavite for Online Gender-Based Violence

IMUS CITY, Cavite — A 15-year-old boy was taken into custody after an entrapment operation in Cavite for allegedly...

Hindi Lang sa Bulacan at Manila – Cavite’y Mas Nababaha

Isang Paalala sa mga Namumuno: Ang Baha ay Hindi Pumipili ng Lugar Sa tuwing umuulan nang malakas, nagiging viral ang...

Silang LGU clarifies suspension of flood control projects

SILANG, Cavite — The municipal government of Silang issued a statement Tuesday clarifying that the suspension of flood control...
- Advertisement -spot_imgspot_img

CAVITEX Northbound Lane Closed for Pavement Repairs Until Sept. 27, 2025

The Cavite Expressway (CAVITEX) pavement repair program has entered its third and fourth phases, with lane closures expected to...

Cavite City opens new public university with free tuition

Cavite City opens new public university with free tuition CAVITE CITY — Cavite City has inaugurated its newest public higher...

Must read

Offset Shares a Video of Cardi B Giving Birth to Baby Kulture

What was expected of her was the same thing...
- Advertisement -spot_imgspot_img

You might also likeRELATED
Recommended to you