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Unliquidated NSA accounts down to P20M

By: - Reporter / @junavINQ
/ 01:30 PM January 01, 2013

The unliquidated accounts of national sports associations have gone down from P100 million to  P20 million, Philippine Sports Commission chair Richie Garcia announced Tuesday.

“We launched a ‘no-liquidation, no-financial assistance’ policy two months ago and the NSAs were forced to submit documents that reflect where they used the government’s financial assistance,” said Garcia.
“We’re glad that from P100 million a few months back, it’s now down to P20 million,” he added.

The PSC provides funding for the programs, tournaments, foreign exposure and equipment of 53 NSAs under the Philippine Olympic Committee but some NSAs have been remiss in liquidating their expenditures as required by  the Commission on Audit.

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After the 2005 Southeast Asian Games hosted by the country, the unsettled monetary assistance hovered at P500 million. Most of the expenses came from the purchase of equipment for the hosting. The unliquidated amount significantly dropped to P130 million in 2011 and the PSC has seriously pushed for its reduction from there.

“The PSC is now on top of everything,” said Garcia.  “We’ve decided to guide NSAs on the purchase of equipment to make sure that receipts and other purchase documents are valid and acceptable.”
“We’re not asking them to return the money. We’re just asking them to produce the documents that will establish where they spent the money,” added Garcia.
He made it clear that NSAs with unsettled accounts this year will not get a single centavo from the agency as the national team prepares for the 27th Southeast Asian Games in Naypyidaw, Myanmar in December.

TAGS: accounting, National Sports Associations, NSA, Philippine Sports Commission, Richie Garcia
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