The Mines and Geosciences Bureau (MGB) Management and the Commission on Audit (COA) representatives conducted the FY2018 Exit Conference last May 21, 2019.

The annually scheduled event is the venue for the COA to relay their observations and recommendations on certain transactions, activities and policies of the agency for the year under audit, including the status of implementation of prior years’ audit recommendations. The Management is then also given time to discuss the comments on the said observations and the actions taken or to be taken in order to address the audit recommendations.

The MGB delegation was headed by Acting Director Atty. Wilfredo G. Moncano, accompanied by the Acting Assistant Director, Central Office Division Chiefs and personnel concerned. Also present were representatives from Regional Offices No. I, VI and XIII. The COA representatives was headed by Supervising Auditor Merla C. Bagsit. The discussion was facilitated by the Audit Team Leader Atty. Arnel P. Bacarra.

The COA indicated that there were noticeable improvements in the compliance of the agency with the liquidation of Cash Advances, posting of the relevant and detailed information on PPAs and the submission of requirements set by the commission.

In addition, the COA noted a positive observation for the agency. The agency expended P1,234,403,088.24 or 95% of its total allotment of P1,294,989,329.00 and disbursed P1,172,004,166.91 or 95% of the obligated amount that complimented its 97.67% accomplishments under the Regular Agency Fund.

The Management committed to continue striving for the effective and efficient implementation of projects and utilization of funds allocated for the agency.

The Management is taking this opportunity to thank the COA Auditors for making the exit conference a successful venue for clarification of the issues and concerns. Also, for the continuous assistance and guidance provided for the organization.

By: Financial Management Division