Panagbenga 2006 audit out 06-05-21

	NORDIS WEEKLY May 21, 2006
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Panagbenga 2006 audit out
BAGUIO CITY (May 18) — The audited financial statement of the 2006 Panagbenga Committee, submitted today to Mayor Braulio D. Yaranon, showed a net income of over P2 million with payables of P535,000. In a letter to the mayor, Nelia G. Cid and Bishop Carlito J. Cenzon, 2006 Panagbenga Ad Hoc Management Committee chairperson and co-chair, respectively claimed that the audited report they are submitting is for the public to see and scrutinize, adding they have nothing to hide. The report shows that the Committee has P 1,503,967 cash in the bank, P535,000 receivables with a total of P 2,038,967. They paid P 873,522 as taxes paid to the city and to the Bureau of Internal revenue P377,300 in taxes. Audited by CPA Federico Paragas, Cid and Cenzon added that the 2005 and 2006 Panagbenga never received a public fund to support the activities. Anomalous 2003-2004 Panagbenga? Meanwhile, Yaranon urged that officials of Panagbenga 2003 and 2004 also come up with audited statements. He earlier requested the Commission on Audit (COA) to look into the funds used in previous Panagbenga as public funds were used. He observed that a P5.4 million public funds from the city was used during the two year Panagbenga yet no reports, as mandated by law, on how it (funds) was used by the officials and organizers then. Yaranon observed that that 2003-2004 Panagbenga listed P2 million for prizes without naming the persons who received the said prizes. He also adds that an amount of P255,000 was named to a certain city councilor. This amount is questioned by some Baguio residents claiming that it is an alleged honorarium received by city officials involved and a concrete case of conflict of interest. The mayor also observed that the two years income and expenses indicated more than P 200,000 as barangay prizes but the Barangay Captain Affairs Office denied receiving such prizes. The mayor reiterated that a public funds used to support private activities require the private institution/s to submit audited financial statement on how the funds were utilized. # Arthur L. Allad-iw for NORDIS Post your comments, reactions to this article
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	NORDIS WEEKLY May 21, 2006
Home \| To bottom	Previous \| Next
Panagbenga 2006 audit out
BAGUIO CITY (May 18) — The audited financial statement of the 2006 Panagbenga Committee, submitted today to Mayor Braulio D. Yaranon, showed a net income of over P2 million with payables of P535,000. In a letter to the mayor, Nelia G. Cid and Bishop Carlito J. Cenzon, 2006 Panagbenga Ad Hoc Management Committee chairperson and co-chair, respectively claimed that the audited report they are submitting is for the public to see and scrutinize, adding they have nothing to hide. The report shows that the Committee has P 1,503,967 cash in the bank, P535,000 receivables with a total of P 2,038,967. They paid P 873,522 as taxes paid to the city and to the Bureau of Internal revenue P377,300 in taxes. Audited by CPA Federico Paragas, Cid and Cenzon added that the 2005 and 2006 Panagbenga never received a public fund to support the activities. Anomalous 2003-2004 Panagbenga? Meanwhile, Yaranon urged that officials of Panagbenga 2003 and 2004 also come up with audited statements. He earlier requested the Commission on Audit (COA) to look into the funds used in previous Panagbenga as public funds were used. He observed that a P5.4 million public funds from the city was used during the two year Panagbenga yet no reports, as mandated by law, on how it (funds) was used by the officials and organizers then. Yaranon observed that that 2003-2004 Panagbenga listed P2 million for prizes without naming the persons who received the said prizes. He also adds that an amount of P255,000 was named to a certain city councilor. This amount is questioned by some Baguio residents claiming that it is an alleged honorarium received by city officials involved and a concrete case of conflict of interest. The mayor also observed that the two years income and expenses indicated more than P 200,000 as barangay prizes but the Barangay Captain Affairs Office denied receiving such prizes. The mayor reiterated that a public funds used to support private activities require the private institution/s to submit audited financial statement on how the funds were utilized. # Arthur L. Allad-iw for NORDIS Post your comments, reactions to this article
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