Following the recommendations of the Commission on Audit (COA), the Department of the Interior and Local Government (DILG) has closed its four trust fund accounts at the Landbank of the Philippines (LBP) with an aggregate amount of over P12.98 million.
Earlier, the COA flagged the DILG for maintaining four unauthorized bank accounts stating that their creation and retention as of yearend 2023 “have no legal basis”.
The DILG said the accounts were used as depository accounts for funds from other national government agencies. The accounts were created to ensure the prompt release of funds to support the implementation of various programs and projects.
According to the DILG, it had earlier closed the P1.73-million RO IX Trust Regular Account and the DILG-NCR Local Government Academy Special Project Account with P111,009.42.
The DILG is processing the closing of the P1.116-million DILG-NCR Special Project Account and the P10.025-million DILG Central Office Trust Account.