Former village exec vows to account for P42.6M

June 09,2016 - 10:28 PM

A FORMER Tisa barangay chairman submitted a written explanation on his failure to submit a liquidation on the P42.6 million worth of disbursements made by his office from January 2007 to November 2012.

In a letter he submitted personally to Cebu City Acting Mayor Margot Osmeña, Eduardo Cabulao said most of these disbursements were above board and he is trying to secure the transaction records from the barangay treasurer’s office.

Cabulao received a letter from former City Accountant Mark Salomon last April 9 asking him about the disbursements worth P42.6 million as of December 2013. Salomon stated most of these disbursements were made in January 2007 up to November 2012.

About P35,993,788.82 were under the Land Bank of the Philippines (LBP) while P6,610,047.36 came from the Philippine Veterans Bank (PVB).

He said the records of these disbursements were fully documented and a good amount of these went into burial assistance./UP Cebu Intern Amy A. Macalinao

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TAGS: Cebu, Cebu City, Cebu City Acting Mayor Margot Osmeña, Eduardo Cabulao, Land Bank of the Philippines, LBP, liquidation, Tisa

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