Tuesday, October 09, 2007 P5M, not just P2M: LTO loss By Elias O. Baquero Sun.Star Staff Reporter
THE Land Transportation Office (LTO) 7 lost more than P5 million this year, said an audit team looking into the agency’s finances when its cashier went missing, after she failed to account for funds.
An official also said that agency funds may have also been lost in previous years.
LTO 7 Director Alex Leyson said they will file criminal and administrative charges today with the Office of the Ombudsman-Visayas against missing cashier Marissa Abear Veriña.
Leyson said the team, comprising Macario Getaruelas, Jinky Estrada and Lovelyn Sulip, found that more than P5 million of the agency’s funds were unaccounted for in transactions from January to July this year.
Leyson also said administrative officer Gonzalo Baybay was one of the signatories of the checks used by Veriña to withdraw money from the Land Bank. But, he said, it will be up to the ombudsman to determine whether he is also liable.
LTO 7 legal officer Vicente Gador Jr. said records showed that Veriña issued 19 checks, 17 of which were in her name. A P706,000 check was issued to one Reynaldo Dante, despite him being not an LTO creditor.
A high-ranking LTO official (name withheld pending his comment) was also issued an P18,000 check by Veriña. Colleagues, however, said this may have been a cash advance that remains unliquidated.
Records also showed that a P720,000 check was issued in the name of Veriña on April 10, 2007. The check, however, was not supported by documents that could prove that the withdrawal was in accordance with rules and regulations.
No vouchers
The checks issued by Veriña from Jan. 1 to July 31 this year that were not supported by approved vouchers are under the general fund.
Gador said that the exact amount lost, based on audit reports, is P5,563,156.38. He said he doesn’t know whether LTO funds were also lost in previous years because the audit only covered seven months in 2007.
Gador, however, said funds may have been lost in previous years because even last year, the LTO 7 also experienced insufficient funds, especially during paydays and when payments for electricity and water bills were made.
He said Veriña was made to explain about the insufficiency of funds for the checks but she told them she erred in the account numbers.
Unfunded checks had led to the discovery of the missing money several weeks back.
Gador said Veriña will be charged administratively for gross dishonesty and criminally for malversation of public funds through falsification of public documents.
He said they will attach to the complaint vouchers, checks and bank statements that will be certified by Acting Finance Chief Corazon Bascon.
The bank statement will include that as of February 2007 when Land Bank certified that the total transaction for the month was P362,000. Veriña had reported to Leyson that the total negotiated transaction was only P26,000.
Veriña went absent without an official leave last Sept. 13, a day after she was relieved by Leyson when she admitted having pocketed the money that was allocated for salaries.
Since then, Veriña failed to report to work despite several promises to do so. She also could not be located in her house in Deca Homes in Tongkil, Minglanilla town, Cebu.
