MANILA, Philippines — The Commission on Audit (COA) has questioned the books of account of the Southern Philippines Development Authority (SPDA), which listed 10 parcels of land valued at only P1 each.
In an audit report released recently, the COA noted the discrepancy between the SPDA’s 2017 financial statement with a land account worth P9.5 million while its books listed 10 properties with a total land area of 24,145.94 hectares, which are worth only P10.
The SPDA is a government-owned and controlled corporation under the Office of the President, which pursues business projects in Mindanao.
The COA said eight of the properties have no tax declaration numbers, two have no land registration titles and three, including a 24,000-hectare property, are occupied by informal settlers.
Four of the properties were acquired in 1975, three in 1981, two in 1982 and one in 1997.
“No action was made on the appraisal of the properties to date,” the COA said.
The properties include a 24,000-hectare land at the boundary of Wao and Amai Manabilang towns in Lanao del Sur; Basilan Fishpond project in Panigayan, 112 hectares; a 13.79-hectare in Bagumbayan, Sultan Kudarat; Bonbon Agricultural Development project in Butuan City, 9.4 hectares, and Autonomous Region in Muslim Mindanao (ARMM) production center in Cabatangan, Zamboanga City, 5.032 hectares.
Also valued at P1 each are the Liguasan Marsh Development project in Pikit, North Cotabato, two hectares; a 1.54-hectare property in Cabaruyan, Libungan, Cotabato; a 1.05-hectare land in Barangay Sasa, Davao City; Basilan fishpond project in Isabela, 9,600 square meters, and ARMM compound in Cotabato City, 1,644 sqms.
The COA said the SPDA should prepare pertinent documents for the appraisal and titling of the parcels of land, provide the budget to hire an independent appraiser and record the new appraised values in its land account.