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Baguio flagged over P4.43-B savings
The Philippine Star
|January 15, 2025
The Commission on Audit (COA) has flagged the city government of Baguio for having P4.43 billion in time deposits and several high yield savings accounts (HYSA) amid unpaid obligations and unimplemented priority development projects.
In a 2023 audit report on Baguio, the COA said the funds, placed under HYSA/time deposit and approximately totaling P4.45 billion as of December 2023, were in excess by P3.7 billion or 537 percent of idle funds amounting to P695 million.
The audit breakdown showed that 17 of the HYSA/time deposit accounts were with the Land Bank of the Philippines and have a yearend balance of P3.32 billion.
Diese Geschichte stammt aus der January 15, 2025-Ausgabe von The Philippine Star.
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