CSC and DBM JOINT CIRCULAR NO. 2-97

: Government officials and employees can monetize a maximum of thirty (30) days vacation leave/service credits.
: There must remain at least five (5) days of vacation leave/service credits after monetization.
: If the official or employee has accumulated no less than fifteen (15) days vacation leave/service credits, he can monetize no more than ten (10) days.
: The monetization of leave credits can be availed of only once a year.
: For 1997, an official or employee who has already monetized ten (10) working days may be allowed to monetize the balance of twenty (20) working days provided there shall remain no less than five (5) days leave to his credit after monetization.
: The official or employee who availed of this privilege must still go on five (5) days forced leave, subject to the provisions of Executive Order No. 1077 dated January 9, 1986 and its implementing rules and regulations.
: The funding shall be charged against any savings of the department, agency, government-owned/controlled corporation, or local government unit concerned.
: Savings is as defined under Section 54 (Meaning of Savings and Augmentation), General Provisions, FY 1997 General Appropriations Act.
: Employees holding positions below salary grade 19 shall be given preference in the availment of this privilege.
: The Joint Circular took effect immediately upon its adoption on June 25, 1997.