Cash shortage only P2.5 million, not P7.5 million

CEBU, Philippines – The controversy surrounding the alleged cash shortage blamed on the municipal treasurer of Compostela has renewed the conflict between Mayor Ritchie Wagas and Vice Mayor Joel Quino.

“Earlier, Vice Mayor Quino and members of the municipal council had asked the Office of the Ombudsman-Visayas to investigate municipal treasurer Lorenzo Almodiel for the alleged P7.5 million cash shortage.”

Yesterday, municipal accountant Sylvia A. Malacad issued a certification in favor of Almodiel.“

In his certification dated July 7, 2009, Malacad said that based on the records in his office, the total cash shortage as of July 7, 2009 only amounted to P2,532,427.31.

A copy of the certification was obtained by The Freeman.“

The certification said of the total unliquidated cash advances made through Almodiel, P90,000 is considered settled.

However, the liquidation has not been entered in the book of accounts as the documents will still have to be processed and verified.

Former mayor Gilbert Wagas, political adviser of Mayor Ritchie Wagas, said the three members of municipal council committee on finance and appropriation who filed the complaint wanted to divert the real issue.“

Gilbert said the failure by the council to pass the 2009 annual budget is a crime against the people of the town.“

He said that formal complaints are now being filed against the members of the council before the Ombudsman for their failure to pass the annual budget. – Jose P. Sollano/LPM (THE FREEMAN)