Question & AnswerQ&A (Act No. 752)
The main purpose of Act No. 752 is to amend paragraph (f) of Section 9 of Act No. 83 by requiring a committee consisting of the provincial governor, provincial supervisor, and provincial secretary to count the cash of the provincial treasurer at the end of each month and certify the results to the Insular Auditor and Insular Treasurer.
The committee consists of the provincial governor, the provincial supervisor, and the provincial secretary.
The committee is required to count the cash promptly at the close of business on the last day of each month.
The provincial treasurer must keep a true and correct record of all deposits made and a true and correct list of checks drawn against the depository, including the date, number, name of payee, and purpose of each check.
The committee must include the deposit balance as a separate item in their count, as shown by the provincial treasurer's records.
The committee must count and determine the cash balance on hand for each separately designated insular fund account in the same manner and at the same time as they count provincial funds.
The committee must certify the detailed results to the Insular Auditor and the Insular Treasurer, and the certificate must be signed by each committee member.
Two members of the committee may act and properly make the verification in the absence or disability of the third member.
A duplicate of the certificate sent to the Insular Auditor and Treasurer must be recorded in the minutes of the provincial board.
The Act took effect immediately upon its passage on May 19, 1903.