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Manila Bulletin devider Sports devider PSC knows all along about P10M unliquidated funds - POC

PSC knows all along about P10M unliquidated funds - POC

Published Oct 11, 2023 07:45 am

At A Glance

  • Philippine Olympic Committee (POC) President Abraham "Bambol" Tolentino stood on his ground and reiterated that the Philippine Sports Commission (PSC) had a hand in the Commission on Audit's (COA) demand letter asking the organization to liquidate the P10 million financial assistance released decades ago.

Philippine Olympic Committee (POC) President Abraham “Bambol” Tolentino stood on his ground and reiterated that the Philippine Sports Commission (PSC) had a hand in the Commission on Audit's (COA) demand letter asking the organization to liquidate the P10 million financial assistance released decades ago.

Tolentino said an Affidavit of Undertaking for the release of funds for this year’s Asian Games had a provision for the POC to liquidate P13.2 million including the P10 million for the country’s participation in the Bangkok Asian Games in 1998.

“The Affidavit of Undertaking was sent to us weeks before the Asian Games started, or before the PSC and COA sent that demand letter late Sept. 20,” Tolentino said.

“It’s very clear in that affidavit that indeed, the PSC knew it all along,” he added.

In a press conference on Tuesday, Oct. 10, PSC Chairman Richard Bachmann clarified that the notice on POC’s unliquidated funds from COA is a standard procedure and did not pass by his office.

“I have no signature and therefore, the PSC is not involved,” Bachmann said.

Bachmann also stressed that COA operates independently from the PSC and has the authority to examine, audit and settle all governmental accounts including those of the POC, and that the timing and issuance of letters to the POC by COA are not within the purview of the PSC.

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Richard Bachmann Bambol Tolentino
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