Over P61 million in Disbursement Acceleration Program (DAP) funds transferred by the Philippine Institute for Development Studies (PIDS) to the Commission on Higher Education (CHEd) stays unliquidated in 2016, state auditors mentioned.

In its 2016 annual audit report, the Commission on Audit (COA) mentioned the Department of Budget and Management launched to PIDS the quantity of P560 million for the implementation of the Grant-in-Aid for Research and Development Extension (RDE) Projects, a part underneath the Institutional Capacity Building Program of main State Universities and Colleges (SUCs) to be collectively carried out by the PIDS and the CHEd.

PIDS and CHEd entered right into a Memorandum of Agreement on February 27, 2012 to collectively implement the RDE initiatives, COA mentioned.

The Bureau of Treasury transferred the fund for RDE initiatives to PIDS in two tranches – P504 million and P56 million. On June 20, 2012, PIDS transferred the quantity of P504 million to CHED for the RDE initiatives of state universities and schools.

But auditors mentioned a steadiness of P61.561 million remained unliquidated as of December 31, 2016 for about 4 years and 6 months.

Auditors reminded the PIDS administration that COA Circular No. 94-013 gives that inside 10 days after the tip of every month or the tip of the agreed interval for the mission, the Implementing Agency ought to submit the Report of Checks Issued and the Report of Disbursement to report the utilization of the funds.

COA advisable that the PIDS administration require CHEd and the state universities and schools to liquidate the remaining DAP funds within the quantity of P3.261 million and P58.three million, respectively.

The PIDs administration commented that it’s carefully monitoring CHEd and the involved state universities and schools for the submission of the audited liquidation experiences.

PIDS is a non-stock, non-profit authorities analysis establishment which goals to supply analyses of socio-economic issues and points to help the formulation of plans and insurance policies for sustained social and financial improvement within the Philippines; set up a unbroken channel of communication between coverage makers and planners, on one hand, and researchers, on the opposite; and set up a repository for financial analysis data and different associated actions.

The PIDS Board of Directors is chaired by National Economic Development Authority secretary.

The DAP, the stimulus bundle underneath the administration of erstwhile president Benigno Aquino III, was meant to quick observe public spending and stimulate financial progress. The Supreme Court declared some elements of this system unlawful over public outcry that it was the manager’s pork barrel.

Source: politics.com.ph