Question & AnswerQ&A (PNP STANDARD OPERATING PROCEDURES NO. ODO2011-001)
The primary purpose is to simplify the system of deposit of national collections to the Treasurer of the Philippines account with Authorized Government Depository Banks.
National Collecting Officers (NCO) and Local Treasurers (LT) are required to deposit daily their collections.
It refers to a bank the majority capital stock of which is owned by the Government, its instrumentalities, and/or government owned or controlled corporations.
All fees, charges, assessments, and revenues collected by government departments, bureaus, offices or agencies for remittance to the National Treasury for credit to the General Fund.
They must deposit the collections daily into the TOP Savings Account with an AGDB, fill out the AGDB deposit slip in triplicate pertaining to collections of one date, and attach a List of Collections (LC) to the deposit slip.
For a maximum of five (5) days counted from the value date (deposit date).
A penalty rate equivalent to one (1) percent of the amount of deposit for every day of delay in value dating the deposit on the deposit day.
They must report national collections deposited, ascertain correct and full amounts collected, ensure timely deposits, pick up validated deposit slips, reconcile amounts, demand refunds for dishonored checks, prepare daily reports, and send these reports to the Regional Office.
They shall be deposited the next banking day.
Responsible officers and employees may be subjected to appropriate criminal and/or administrative action.