PS-DBM sinita ng COA sa ‘unauthorized’ P3B high-yield investment

PS-DBM sinita ng COA sa ‘unauthorized’ P3B high-yield investment

August 29, 2022 @ 7:00 PM 4 weeks ago


MANILA, Philippines- Sinita ng Commission on Audit (COA) ang Procurement Service of the Department of Budget and Management (PS-DBM) dahil sa P3 bilyong halaga ng high-yield investment sa government banks, at sinabing hindi ito awtorisado at isinagawa “outside of its mandate”.

Sa isang management letter sa PS-DBM, inihayag ng state auditors na pumalya ang PS-DBM na ibalik  ang investment sa general fund ng Bureau of Treasury (BTr) na labag sa Executive Order No. 431 na may petsang Mayo 30, 2004.

Sinabi pa ng COA na ang non-return ng P3 bilyong  investment sa BTr ay saliwat sa Department of Finance-DBM-COA Joint Circular No. 04-2012 na may petsang Setyembre 11, 2012, kung saan nakasaad na lahat ng dormant account, maging unnecessary special at trust funds, ay dapat na ibalik sa general fund.

Nakasaad din sa parehong 2012 Joint Circular, tumutukoy ang dormant accounts sa mga koleksyon na awtorisado ng batas law na i-deposit sa authorized government depository bank (AGDB) at nananatiling inactive sa loob ng mahigit limang taon.

“Review of the Cash in Bank [such as] Time Deposits, Local Currency disclosed that the PS-DBM invested its funds in high-yield savings account with the LBP and the Development Bank of the Philippines (DBP), to earn interest at higher rates as compared to that of a current or savings account,” ayon sa COA.

“It is not in PS-DBM’s mandate to make investments and it has no authority to invest in a high-yield savings account. The practice of investing cash in a High Yield Savings account, therefore, deviates from its mandate of procurement of CSEs which requires the utilization of funds,” dagdag nito.

“The non-reversion of the investment in the High Yield Savings account maintained for over five years to the Bureau of Treasury’s General Fund had not provided the national government additional funds for its operations.”

Sinabi rin ng COA na na kahit na-terminate na ang high-yield savings account ng PS-DBM at naibalik na ang proceeds sa LBP Current Account noong 2020, nananatili ang DBP high-yield savings account na may balanseng P3.001 bilyon.

“Out of the balance, P1.363 million which represents interest income earned was automatically swept into the account of the BTr as evidenced by the credit advice issued by the DBP on March 18, 2022,” anito.

“The fund source of the P3.000 billion deposited with the DBP could not be specifically identified. Since the funds with the PS-DBM’s are fund transfers from client-agencies whose budgets are provided on an annual basis, any fund balance is to be reverted to the General Fund. Also, the high-yield savings account has been established for more than five years and has remained inactive, with the incurrence of interest income as the only transaction,” dagdag ng ahensya.

Dahil dito, inirekomenda ng COA na hilingin ng PS-DBM sa pinuno ng Treasury Division nito na agad na i-remit ang balanse ng savings sa BTr.

Sa kasalukuyan ay wala pang komento ang PD-DBM ukol dito. RNT/SA