The rating affirms the BCDA’s adherence to transparency, accountability, and sound fiscal management in handling public funds. COA issues an “unqualified or unmodified opinion” when auditors determine that an agency’s financial statements are free from material misstatements—whether due to fraud or error—based on International Public Sector Accounting Standards.
“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,” said BCDA President and CEO Joshua M. Bingcang.
Since 2010, BCDA has consistently received the same top rating from state auditors. COA has repeatedly confirmed that the agency’s financial records “present fairly, in all material respects, the financial position” of BCDA and reflect its cash flows and financial performance “in accordance with state accounting principles generally accepted in the Philippines.”
Mandated under Republic Act No. 7227, BCDA is tasked with converting former military bases into economic growth centers. It generates revenues through land sales, leases, joint ventures, and concession agreements.
In 2024, BCDA posted gross revenues of P22.1 billion, nearly triple the P7.3 billion recorded in 2023. As of July 2025, it remitted a record-high P5.3 billion—comprising P2.2 billion in dividends and P3.1 billion in contributions to the AFP and other agencies. —Ed: Corrie S. Narisma
