The Philippine Health Insurance Corp. (PhilHealth) topped the 2012 list among government-owned or -controlled corporations (GOCCs) with the fattest bonuses and allowances.
The 2012 Annual Financial Report on GOCCs showed that PhilHealth released P1.65 billion in unauthorized dole-outs, which the Commission on Audit (COA) is now asking to return to the government.
State auditors disclosed that more than 22 sort of allowances and benefits were paid to the top officials of the state’s foremost health insurance company, without the approval of the President.
Next is the Development Bank of the Philippines with P216.8 million, which was issued as “performance incentive bonus,” a total that already excessive of the ceiling set by the Governance Commission on GOCCs.
At third are the water districts of Central Visayas with P186.58 million.
The Philippine Charity Sweepstakes Office closed in at fourth with P54.82 million, while the Philippine Economic Zone Authority had P48.5-million releases completing the top five.
COA said that the five out of 31 state-run corporations disbursed
“bonuses, allowances and benefits to the board of directors and employees without or in excess of legal basis or proper authority.”
Auditors asked the officials who received the hefty cash to “refund the excess compensation/allowances received.”
Rounding off the top ten are Home Development Mutual Fund (P37.63 million); Butuan City Water District (P28.24 million); Development Academy of the Philippines (P23.83 million); Philippine National Oil Corp.-Exploration Corp. (P14.51 million) and the Mactan-Cebu International Airport Authority (P14.4 million).