COA: Corregidor Foundation failed to tap island's potential

The Commission on Audit called out the Corregidor Foundation, Inc. for its alleged failure to tap the island's potential as a tourist destination.

"CFI’s lack of infrastructure and additional attractions, lack of promotion, and lack of funds resulted in the failure to tap the Island’s immense potential as a tourist destination as manifested by the declining results of operations," COA said in its compliance audit report.

The COA said CFI's plans for development, if any, were not carried out in the last five years, from 2014 to 2018.

"CFI, in the past, may have implemented projects to improve facilities but for the last five years from 2014 to 2018, CFI’s plans for development, if there’s any, were not translated into projects. The leasehold improvement account remains the same less the annual depreciation or impairment. To date, there is only one hotel and one transportation service to and from the Island. Tourist attraction is confined to the ruins or relics of World War II," the COA said.

The COA recommended expanding Corregidor's attractions by improving its museum, mini parks, golf course, game rides, land and water recreational and relaxation facilities, and adding more hotels, restaurants or food parks and ferries for transportation.

It also suggested that CFI evaluate what its tour guides offer tourists for the benefit of all guests.

The COA said CFI may look at Singapore's Sentosa Island, a former British military base and Japanese prisoner-of-war camp, for inspiration. It was transformed into a tourist destination in 1972 and is visited by some 20 million tourists annually.

The agency also said CFI should not leave it up to hotel and ferry owners to promote Corregidor as a tourist destination.

"The active support of the Tourism Promotions Board (TPB) in advertising the place will also be a boost to CFI’s campaign," it added.

CFI for its part said it lacks funds to upgrade Corregidor Island.

It said the Corregidor Tourism Masterplan has already been designed, however, and discussions with the Tourism Infrastructure And Enterprise Zone Authority (TIEZA) and prospective foreign investors are underway.

Operations

COA said the low turnout of tourists on the island led to CFI's net loss of P13.294 million in 2018.

Tourist arrivals on the island averaged only 62,000 a year from 2013 to 2017, or about 5,200 tourists a month, COA said.

"We recommended that CFI actively collaborate with the DOT, TIEZA, TPB and the private sector towards the certain implementation of the approved masterplan for Corregidor Island," COA said.

The agency also found out that CFI keeps some P3.9 million in cash and time deposits in Philippine National Bank, a non-authorized government depository bank. These should be deposited in an authorized government depository bank, in accordance with a circular of the Department of Finance, it said.

CFI management said they will comply with the said recommendation and transfer its funds to an authorized bank. —KG, GMA News