Valencia City Value for Money Audit
July 1, 2010
VALUE FOR MONEY AUDIT
A Value for Money (VFM) audit was also conducted on the operation of Integrated Bus Terminal Complex wherein construction of the same was funded out of the proceeds of the loan acquired on December 13, 2004 from Land Bank of the Philippines in the amount of P83,578,000.00 payable for eight (8) years.
The city government’s purpose to acquire the project was materialized. It was open to serve the public. During CY 2008, the City Government realized an income of P6,571,326.25 as Parking/Terminal Fees.
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