COA: Jesse Robredo Coliseum lost P71M since 2012
The Jesse M. Robredo Coliseum, owned by the Naga City government, only stayed afloat because of subsidies, as it incurred P70.67 million in operational losses since 2012, the Commission on Audit (COA) revealed.
In its 2017 annual audit report, the COA said the Sangguniang Panlungsod’s (SP) failure to declare the city coliseum a Local Economic Enterprise (LEE) meant it lacked policies and guidelines to govern its management and financial operations.
The coliseum only earned a total income of P13.35 million over the last six years. Collections in 2017 even dipped to P2.52 million from the previous year’s P3.15 million.
“The actual results of operation for the past six years… was not profitable in the sense that the generated income was not sufficient to meet the operating costs incurred [by] the JMRC,” the report read.
Auditors attributed these losses to a “less than business-like approach management of its day-to-day operations” due to the absence of specific procedures and institutional support.
The COA urged the city to pass an ordinance would officially establish the coliseum as an economic enterprise “towards realizing a profitable commercial operations [sic].”