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Monday, September 12, 2005 (Philippines)
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Tudela town in the Camotes group of islands had a cash balance of P163,949.07 at the end of 2004.
But it needs to raise P3.57 million more, if it intends to pay its total payables amounting to P3.73 million.
The Commission on Audit (COA), in its audit report for the island town, said Tudela’s spending more than what it has, or what auditors call an overdraft, is not a first for the municipality.
[full story] |
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| Manny Pacquiao, 28, celebrates his sixth-round knockout of Hector Velazquez, of Tijuana, Mexico, during their WBC Super Featherweight bout at the Staples Center in Los Angeles. A Filipino-American from Hawaii, Brian Viloria, knocked out defending champion Eric Ortiz of Mexico in the first round to win the WBC light flyweight championship. Rey Bautista also won at the Staples Center.(Ap photo) |
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