Basis for Share Determination
- Shares of provinces, cities, and municipalities are computed based on:
- 70% population
- 20% land area
- 10% equal sharing among units
Creation and Management of Barangay Development Fund
- Establishes a Barangay Development Fund comprised of annual contributions not exceeding P500 from each barangay within provinces, cities, and municipalities.
- Fund exclusively for community development projects meeting requirements set by the Secretary of Local Government and Community Development.
- Provincial Treasurer acts as custodian, maintaining special accounts.
- Fund releases managed through Municipal Treasurers, who ensure proper disbursement and accounting.
Annual Allotment and Supervision of Barangay Funds
- Annual allotments to barangays subject to approval by the President based on development plans of province, city, municipality, and barangay.
- Funds to be used exclusively for self-help or other development projects partially funded by the Barangay Development Fund.
- Barangay Treasurer, under supervision of Municipal Treasurer, responsible for proper disbursement and accounting.
- Annual allotments recorded in a special account in the barangay general fund.
Rulemaking and Implementation
- The Secretary of Finance authorized to issue necessary rules and regulations for prompt, effective implementation of the decree.
Repeal and Modification of Conflicting Laws
- All laws, decrees, orders, or parts inconsistent with this decree are revoked or modified accordingly.
Effectivity
- The decree becomes effective immediately upon approval.