QuestionsQuestions (CSC JOINT CIVIL SERVICE COMMISSION AND DEPARTMENT OF BUDGET AND MANAGEMENT CIRCULAR NO. 1)
It is intended to (1) provide additional funds for education, health, or emergencies by allowing employees to monetize accumulated vacation leave credits; (2) allow continued reporting for work while still being paid salary for actual services rendered even if the employee monetizes vacation leave; and (3) authorize payment of the monetized leave credits.
It is the payment of the money value of accumulated vacation leave credits without actually going on leave of absence.
It refers to the vacation leave credits earned by an employee.
All officials, employees, and laborers in national and local governments, including those in GOCCs with original charters, state universities and colleges, judiciary, and legislative, whether in career or non-career service and appointed permanent, provisional, casual, or temporary.
The employee must have accumulated at least fifteen (15) days vacation leave/service credits.
A maximum of ten (10) working days of vacation leave/service credits.
Only once a year.
It is deemed included in the employee’s accumulated leave credits.
Yes. Even after monetizing the maximum ten (10) working days, the employee must still go on five (5) days forced leave as provided under Executive Order No. 1077 (Jan. 9, 1986).
No. Any employee who avails of the privilege shall not be allowed to go on vacation leave simultaneous with monetization of leave credits; however, this restriction does not apply to sick leave.
No. Regardless of how much they have accumulated beyond fifteen (15) days, they can only avail a maximum of ten (10) days monetized vacation leave/service credits per year.
It shall be charged against the savings of the department, agency, or local government unit concerned.
In the utilization of savings, agencies shall give priority to payment of monetized leave credits/service credits.
Yes. Employees holding positions below Salary Grade 19 shall be given preference in the availment of the privilege.
It takes effect immediately.
Teachers who have accumulated service credits may avail the privilege, provided the service credits are converted to vacation and sick leave in accordance with the conversion rate prescribed in Item 2.2 of CSC Memorandum Circular No. 9, series of 1988.
The conversion rate stated in Item 2.2 of CSC MC No. 9, s. 1988, is the basis for converting teachers’ service credits to vacation and sick leave for purposes of monetization.
Monetization is designed so the employee continues reporting for work and is paid salary for services actually rendered, without needing to go on vacation leave simultaneously.