₱305-M trust fund remains intact, says Lim

The city’s ₱305 million trust fund remains intact, according to a special report of City Councilor Yan Lam Lim, who sought to address circulating claims alleging misuse of the fund.

Lim, chair of City Council finance, budget, and appropriations committee, said he personally validated the information by securing the original certification from Land Bank of the Philippines (LBP).

The bank confirmed that the amount remains in the city’s coffers, he added.

Councilor Lim issued the clarification amid the spread of what he described as misleading and malicious information on social media regarding the status of the trust fund, which has recently become the subject of public speculations.

“I urge media practitioners and social media advocates to practice prudence and uphold objectivity to prevent misleading information (online),” he further pointed out.

Even as Lim issued the clarification, City Councilor Imee Rose Moreno sought a review of the matter, requesting for its inclusion in the agenda of the scheduled public works committee meeting.

Moreno also proposed inviting representatives from the Commission on Audit to explain to the body its 2024 report findings, as well as officials from LBP to determine whether the said amount is classified as a trust fund or part of the city’s general fund. (FDC/SP)