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COA announces sale of PIS-4 by GS-4 with PTV-4
MANILA, Philippines – The Commission on Audit has reported another publicity agreement with TNPI or PTV-4, this time by the Public Service Insurance System
. foreign exchange agreement for media services with People's Television Network Inc. in CY 2017 totaling 50,155 million pesos has not added value to GSIS members, does not meet the requirements of the GSIS mandate, and can be dispensed without loss or damage to the system was therefore deemed unnecessary, "said the ACO in its 2017 audit report published on its website Saturday.
Last week, the ACO also noted in another audit report the irregularities of the $ 120 million advertising deal. The Ministry of Tourism joined with PTNI in 2017 under the leadership of Tourism Secretary of the time, Wanda Tulfo-Teo. A total of 89.878 million Pula, or 75% of the contract cost, was allocated to Bitag Media Unlimited Inc., a media company owned by Teo Ben Tulfo's brother, and the COA said Teo and Tulfo could be held accountable
In his audit report on the GSIS, the COA stated that it was in 2015, under the Aquino administration, that the public pension company entered into a protocol of 39 agreement with TNPI to cover a value of 47.02 million and payment of loans deducted from salaries of TNPI employees.
In exchange for the payment of undelivered contributions, it was agreed in the MOA that TNPI would provide media services to GSIS, particularly the five-second broadcast and 30- "The cost of media services for CY 2016 and 2017 amounted to 30.782 million Philippine pesos and 19.373 million Philippine pesos, a total of 50.155 million pesos, the balance covered by the memorandum of understanding, the audit body stated that, although there was no actual expenditure by the GSIS, the services rendered were charged to the receivable "which could have been collected and added" to GSIS's reserves
The COA stated that in addition to the poor reception of the PTV-4 signal in Metro Manila and in remote areas of the provinces, the additional media exposure was also useless since " GSIS did not exist since his ex istence years ago. GSIS is mandatory for all government employees receiving remuneration. "
" We reiterated our recommendations and GSIS management agreed to limit infomercials to those that add value to GSIS members. the premiums and amortization of loans equivalent to the exchange agreement, "said the COA.
Uncashed receivables
Meanwhile, in the same audit report, the COA The GSIS has collected billions of pesos of debts owed by government agencies and private companies that remain outstanding for several years.
The COA has stated that GSIS loans to several private companies with a total equity balance P2.119 billion and accumulated The interest of 823.153 million dollars remains uncollected for 20 years or more "due to the absence of concrete action plan to recover them", which may result in the " loss or wastage of public funds. "
There was also a total of 26.422 billion receivables receivable from the Department of Budget and Management and other government agencies" which remain uncollected for several years. "[19659004] The COA stated that unrecovered receivables include unpaid and / or delayed interest. remittances from social insurance premiums and the amortization of housing loans (20.839 billion pesos); surcharges for late payment of overdue loans and premiums (5,159 billion pesos); contributions / bonuses receivable (P490,475 million); interest receivable on advances to other funds (19 million pesos) and premiums on premiums (13,346 million pesos)
"We have recommended that management assess the outstanding amounts and recoverability of receivables and recognize the extent of the writedown, negotiate and collect from counterparties to recover cash outflows, and review the policy on non-performing loans and premiums receivable, "said COA. – Elizabeth Marcelo
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