Office of the Vice President
2 July 2017
The Office of the Vice President (OVP) continues to exert all effort to cut costs when able and ensure that every centavo of the people’s money is spent responsibly. Furthermore, the OVP is committed to maximize its meager budget for the direct benefit of underprivileged Filipinos.
Disbursement for OVP’s financial assistance / subsidy reached 86% of the released amount in 2016, notwithstanding the election ban on such expenses from February to May 2016. The management took the initiative to be prudent by not exhausting the full appropriation so that the existing program can first be assessed before it is scaled up, as it is happening now. Additionally, the unreleased portion of the 2016 appropriation can still be utilized until this year. In fact, the utilization rate for the same item just for the first five months of 2017 is already at 50%.
As to the other findings of the COA report such as unliquidated cash advances, these include observations from previous administrations. Corrective action have already been taken.