Financial indiscipline shames �Diamond City�

However, the city fathers were caught flatfooted this week by revelations that even as they wait to get P212.6 million in fresh funding in the current financial year, the council’s audit trail is a mess.

For the past five years, the GCC has not had its finances audited. In addition, the local authority still battles to adhere to the statutory period within which it is required to produce its financial statements. With the 2015-2016 financial year having  had started yesterday, questions are being asked on whether taxpayers funds – amounting to P212.6 million this year – should continue being thrown into a system that cannot account for funds.