BCDA maintains 15-year clean audit record, highlights growth and transparency

The Bases Conversion and Development Authority (BCDA) reaffirmed its commitment to transparency and accountability in managing public resources, following a clean audit opinion from the Commission on Audit (COA) for the 15th consecutive year.

In a statement on Tuesday, BCDA president and chief executive officer Joshua Bingcang said the 2024 financial statement received an “unqualified or unmodified opinion” from COA, indicating that it was “free from material misstatements.”

“Getting the most favorable audit opinion for 15 consecutive years now is a testament that BCDA is serious in ensuring utmost transparency and accountability in our operations, especially in the management of public resources,” Bingcang said.

He credited the agency’s personnel for upholding the agency’s mandate through responsible fund management.

BCDA, which oversees the transformation of former military bases into civilian economic hubs, generated PHP22.1 billion in gross revenues in 2024—more than triple the PHP7.3 billion recorded in the previous year. These earnings were sourced from land disposition, leases, joint ventures, and concession fees.

A portion of the revenues is remitted to the national government, including support for the modernization program of the Armed Forces of the Philippines (AFP). Earlier this month, BCDA posted a record remittance to the Treasury amounting to PHP5.3 billion.

The agency emphasized that its financial discipline supports national development goals and reflects sound public sector management.