The Caramoan Resort Project of Camarines Sur province earned P14.66 million in 2023 but it spent P23.89 for operational expenses and, thus, incurred losses of P9.23 million, the Commission on Audit (COA) said. 

In its 2023 annual audit report, COA said that other revenues collected for the implementation of other provincial programs, projects and activities were used to cover for the deficiency. 

It pointed out the "significant amount" of P9.23 million losses defeated the purpose of establishing a facility that was supposed to generate income.

It said tha majority of the expenses went to Job Order Contract Wages, which amounted to P9,673,080; electricity bills for P4,467,667.11; food and non-food supplies for P2,605,744; and bedroom and bathroom furnishing for P2,676,878.57.

Also, it said, the other expenses water bills for P1,075,343.92; insurance expenses for P726,291.35; janitorial supplies for P660,805.89; rent expenses for P817,832.31); contract of service wages, P483,450; and resort operation officer-in-charge, P708,360.

COA said its audit team recognized the efforts of the provincial government to provide basic services and facilities through tourism development and promotion programs. 

However, it stressed the need for the Caramoan Resort Project to provide accurate information on whether the relevant expenditures incurred for its operation have been sufficiently covered by actual collections of revenue, thus supporting the profitability and sustainability of the facility.

"Nonetheless, the expenditures that exceeded the actual collections have depleted funds which can be used to implement other programs/projects/activities that provide relevant public services beneficial to most of the people of Camarines Sur," it stressed.