CoA questions eight GSIS board members over P88-M pays in 2009 By Charlie V. Manalo 03/10/2011

CoA questions eight GSIS board members over P88-M pays in 2009

By Charlie V. Manalo 03/10/2011

Eight members of the Board of Trustees of the Government Service Insurance System (GSIS) might find themselves in the hot seat after the Commission on Audit (CoA) revealed they have received in excess of P11.018 million each in 2009.

CoA said the compensation “can be considered as excessive spending of the Pension Fund” because under Section 42 of the GSIS Act of 1997 (RA 8291), Board members were only entitled to P2,500 per diem when they attend board meetings and maximum monthly representation and transportation allowances of P10,000.

“The said provision made no mention of any other allowances/benefits to be received by the member of the board. It is explicit that the member of the board is entitled only to per diems and reasonable RATA. (But) the review of Personnel Services account for 2009 upon complete submission of the supporting payrolls on Sept. 16, 2010 showed that … P88.150 million, or an average of P11.018 million each, was expended for the compensation of the other eight members,” CoA said in its report..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/nation/20110310nat1.html