MANILA: The Commission on Audit (COA) has urged the Department of Agrarian Reform (DAR) to scrap its P70m ($1.7m) agrarian reform education programme.
The COA said the P70.869m allocated for the Fund for Agrarian Reform Education (FARE) has not been utilised and no programmes or projects were implemented while the money remained unused for more than five years. State auditors revealed the fund was placed in a Land Bank of the Philippines (LBP) high-yielding security savings account with a 91-day maturity date at 2.5 percent interest rate per annum.
“Unutilised funds for more than five years of FARE consisting of the principal and its accumulated interest earnings have increased to P70,869,533.72 as of yearend,” the COA report said.
The audit team that reviewed DAR’s finances added that for several years, no annual work program and/or a work and financial plan was prepared.
The COA stressed the money allocated for the FARE is not being put to productive use, thereby depriving intended beneficiaries.
Since the government could use the funding for other programs or projects, Commission on Audit asked Agrarian Reform Secretary Virgilio de los Reyes to review the necessity of continuing the program or otherwise remit the funds to the National Treasury. “No activities were undertaken to achieve the objectives of the program to the disadvantage of the intended beneficiaries,” state auditors noted.
THE PHILIPPINE STAR
