PCSO assures public on fund use

Published July 16, 2018, 5:33 PM

by AJ Siytangco

By Jel Santos

The Philippine Charity Sweepstakes Office (PCSO) on Monday assured the public that it is not violating any law despite the Commission on Audit’s (COA) report regarding the agency’s P5.890 billion non-charity funding.

(MANILA BULLETIN)
(MANILA BULLETIN)

COA, in its report, cited the PCSO’s disbursement of P5.890 billion to finance activities not included in its mandate to help the poor.

The PCSO Charter mandates that 55 percent of its revenues should be allocated for prizes, 15 percent for operational expenses, and 30 percent for its Charity Fund.

“Expenses not related to charity programs/projects, hence not in accordance with Section 6B of RA 1169, as amended, totaling P5.890 billion were charged to the Charity Fund (CF), which may deplete the same and eventually affect the delivery and implementation of the mandated purposes of the CF,” the COA report stated.

“We welcome the COA audit report regarding our transactions, but we would like to assure you that we are not violating any law and we are cognizant of our obligations and responsibilities,” Alexander Balutan, PCSO general manager, said in a statement released on Monday.

 
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