WITH only P43 million cash in the bank account of the Balilis, what's left of their sale of underwater lots to the Province of Cebu may not be enough for a full refund.

That worry was raised yesterday by Provincial Board Member Victor Maambong after the executor of the Balili Estate finally gave an accounting in court of the sales proceeds of the P98.9 million transaction.

?It?s clear they did not have the authority of the court to distribute the proceeds,? said Maambong.

Lawyer Romeo J. Balili reported in court that P15.5 million was advanced to the owner?s widow, Amparo Balili, who also used P24 million for various ?investments.?

There won?t be enough left for the provincial government's claim, said Maambong.

He was referring to the Capitol's formal demand for a refund of P37.8 million.

But the size of the claim would more than double to P81 million in the light of survey findings of the Department of Environment and Natural Resources (DENR) that 82 percent of the purchased land area is covered by spurious titles for land classified as timberland.

The Capitol's demand letter was based on a belated discovery that 9.4 hectares of the 24.7 hectares bought last year was in the sea or covered with coastal mangroves.

A 10-hectare fishpond was also identified.

The Balilis indicated that they would not be returning the money, when they told the court the transaction was a ?perfected contract of sale.?

The Province of Cebu, they said, had ?no legal standing? in the estate proceedings and would have to file a separate court action if they insisted on collecting.

RTC Judge Ester Veloso last Sept. 25 ordered the executor to deposit all funds of the estate in a new account in the name of the Estate of Luis V. Balili and his widow Amparo.

That order stemmed from the court's concern that the sales proceeds were deposited in a personal account in the name of Romeo and Amparo Balili, a move which may prejudice other heirs and claimants.

Maambong also questioned why the executor allowed the deduction of P24 million for ?investments? in the name of Amparo Balili. (See table.)

He wanted to know what kind of investments were made and if these had the approval of the court, where estate proceedings have yet to adjudicate the shares of heirs of the late Luis V. Balili.

?Supposedly this should be approved by the court... but it looks like he (Romeo) made a short cut,? Maambong told CEBU DAILY NEWS.

He said that even the release of P15.5 million as ?advances? to the widow Amparo Balili and and the payment of at least P18 million for taxes, fees and a P4.7 million broker's commission lacked approval of the Regional Trial Court branch 6.

Maambong said the PB ad hoc committee looking into the Balili ?fiasco? may no longer have time to invite Atty. Balili back to a committee hearing to clarify these matters.

Yesterday, PB staffers gathered at Maambong's office for the marking of affidavits executed by PB Member Juan Bolo, whom Gov. Gwen Garcia earlier blamed for misleading her about the land purchase, and Capitol department personnel and resource speakers who testified before the board .

Also, marked were purchase documents in the committee's possession.

Maambong said the ad hoc comitte, composed of all PB members, can proceed with drafting a report and recommendations for Governor Garcia.Reporters Doris C. Bongcac and Ador Mayol