(NAR) VOL. 7 NO. 2 / APRIL-JUNE 1996; 92 OG No. 29, 4438 (July 15, 1996)
WHEREAS, huge amounts of cash have built up under
the "Cash-in-banks" account of various offices and agencies of the
government as shown in their final trial balances as of the end of CY
1995;
WHEREAS, the National Government continues to borrow when
there are huge cash immobilized in various accounts of agencies
deposited in authorized government depository banks;
WHEREAS,
Section 5 of the General Provisions of RA No. 8174, the CY 1996 General
Appropriations Act (GAA), provides that "Receipts from non-tax sources
authorized by law for specific purpose which are collected/received by a
government office or agency acting as a trustee, agent or
administrator, or which have been received as guaranty for the
fulfillment of an obligation, and all other collections classified by
law or regulations as trust receipt shall be treated as trust liability
of the agency concerned and deposited with the National Treasury . . .
";
WHEREAS, the same provision further mandates that "All
existing balances of trust receipt deposited with authorized government
depository banks or any forthcoming trust receipt which are intended to
be deposited with authorized government depository banks are hereby
requires to be deposited also with the National Treasury.
NOW,
THEREFORE, I, FIDEL V. RAMOS, President of the Philippines, by virtue of
the powers vested in me by law, do hereby order and direct:
SECTION 1.
Coverage.
— This Order shall cover all offices and agencies of the National
Government including State Universities and Colleges, Schools and
Hospitals, Self-governing Boards and Commission and authorized
government depository banks.
SECTION 2.
General Guidelines.
— All government offices and agencies are hereby required to
immediately transfer all public moneys deposited with depository banks
and other institutions to the Bureau of the Treasury, regardless of
income source.
SECTION 3.
Disbursements. — Disbursements
shall be made by means of separate MDS check series subject to the
issuance of a Notice of Cash Allocation (NCA) and in accordance with
existing accounting and auditing rules and regulations.
SECTION 4.
Maintenance of Accounts.
— The operating units of all offices and agencies are hereby allowed to
maintain in authorized government depository banks only the current
account for funding checks. National government offices and agencies are
likewise allowed to maintain revolving fund deposits when expressly
created and authorized by law.
SECTION 5.
Implementing Guidelines.
— The Department of Budget and Management, the Department of Finance
and the Commission on Audit shall jointly issue the necessary guidelines
for the implementation of this Executive Order.
SECTION 6.
Sanction.
— Failure to comply with the provisions of this Order shall subject the
responsible official/s and employee/s to appropriate criminal and/or
administrative action as the circumstances may warrant.
SECTION 7.
Repealing Clause.
— All executive rules, regulations and other issuances or parts thereof
which are inconsistent with the provisions of this Executive Order are
hereby revoked and/or modified accordingly.
SECTION 8.
Effectivity. — This Executive Order shall take effect immediately.
Adopted: 17 May 1996
(SGD.) FIDEL V. RAMOS
President of the Philippines
By the President:
(SGD.) RUBEN D. TORRES
Executive Secretary