MANILA, Philippines – State auditors have reminded the Social Housing Finance Corporation (SHFC) to strictly disburse funds as outlined in its mandate after discovering that more than P3 million in financial assistance given to vulnerable beneficiaries and contractual workers did not satisfy legal requirements.
In a 2020 audit report, the Commission on Audit (COA) told the SHFC to submit the legal basis for its disbursement of P 1.508 million for member beneficiaries and P 1.526 million for institutional contract of service employees, which were given as COVID-19 financial assistance during the lockdowns in 2020.
COA said that the grant of cash aid contraven…
Keep on reading: Housing finance agency told to only disburse funds as outlined by mandate