MANILA, Philippines - Members of the Manila’s Finest Brotherhood Association, Inc. (MFBAI) have asked the Commission on Audit to conduct a complete audit of their organization’s funds “to find out (their) true financial status.”
In a letter to COA chairman Reynaldo Villar, the policemen alleged that since the organization was established in 1972, no neutral and competent agency has checked its financial statement, except for the audit done by lawyer Jaime Balmas, a certified public accountant who expressed in his March 1 report that the MFBAI financial statements “present fairly, in all material respects, the financial position of the (MFBAI).”
The call came following the release of the MFBAI financial statements for 2009 by its present officers Friday, together with their point-by-point answers to the issues raised by members on alleged fund misuse.
Concerned members said the answers given by MFBAI president SPO2 Antonio Emmanuel and spokesman SPO2 Virgo Villareal reportedly raised more questions.
The members are also questioning a number of entries in the MFBAI consolidated statement of financial condition, including the P527,815 directors’ expenses; P2,299,848 in membership assistance; more than P1 million in staff and employee benefits; P264,937 for other MFBAI activities; and P352,987 for other administrative expenses.
They are also questioning the more than P2 million in financial assistance reportedly given to members when an attached list of beneficiaries and the amount given to them reached only more than P300,000.
SPO4 Virgilio Martinez vowed to investigate the alleged fund misuse.
The members called on their colleagues to reject the present officers in the MFBAI elections set tomorrow so that a proper investigation could be initiated. – Nestor Etolle