Tuesday, November 16, 2010

Update on COA's 2009 Consolidated Audited Annual Report on Rizal Technological University

Though it was founded in 1975 as Rizal Technological Colleges (RTC), the College was converted into the Rizal Technological University (RTU) on October 11, 1997, by virtue of Republic Act No. 8365. RTU is tasked to provide highly professional, scientific, technological and special instructions in the fields of engineering and technology, education, business and entrepreneurial technology and arts and sciences and to the promotion of research, extension and advance studies in its area of specialization.

The Commission on Audit's (COA) 2009 Consolidated Audited Annual Report (CAAR) of RTU found that RTU's income increased from P 359 million in 2008 to P 397 million in 2009 or an increase in P 38 million. Of this, P 25 million  was from the National Government and P 12.7 million was from other income, 

But COA's 2009 CAAR also found the following problems with RTU's usage of the taxpayer's money:

See the rest here:

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