State auditors have noted low disbursement of funds meant for the Performance-Based Grant System (PBGS) component of the Municipal Development Fund Office’s (MDFO) Agrarian Reform Communities Project II (ARCP II).
The observation was made in a Value for Money Audit included in the 2014 Commission on Audit (COA) report on the MDFO, an office under the Department of Finance mandated to provide development financial support to local government units (LGUs).
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