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CoA classifies Quezon City’s ‘Green Fund’ as public money

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PHILSTAR

THE COMMISSION on Audit (CoA) asked retailers in Quezon City to remit the P316.598 million collected from the plastic bag tax or the “Green Fund” as of December last year, ruling that it is considered as public fund. “The CoA Commission Proper (CP) during its regular meeting held on January 31, 2019 has ruled that the Green Fund maintained by relevant retailers is a public fund therefore subject to CoA audit jurisdiction,” said CoA in its annual report on Quezon City. The report showed that Green Fund collections totalled P341,428,658 as of Dec. 31, 2018. “Of this amount, P24,830,307.52 was spent by the retailers for various environmental projects, thus leaving a balance of P316,598,350.48 as of year-end,” said CoA. The state auditors asked the Quezon City government to immediately collect and remit the balance from the Green Fund including interest, if any. CoA also asked the city government to amend the city ordinance for the immediate remittance of the plastic bag tax by retailers. — Vince Angelo C. Ferreras