Authorized Funding Sources for Overtime Payment
- Overtime payment can be sourced from:
- Amounts specifically appropriated in the agency's budget for overtime pay.
- Savings from released allotments for current operating expenditures.
Limitations on Use of Savings for Overtime
- Before using savings from released allotments to pay overtime:
- All authorized mandatory expenses must first be paid.
- Total overtime pay in a calendar year must not exceed 5% of the agency's actual current operating expenditures.
Autonomy of Agencies in Utilizing Savings
- Agencies may use savings from released allotments for current expenditures to pay overtime without prior approval from the Department of Budget and Management (DBM).
- This autonomy is subject to compliance with the stated conditions.
Accounting Rules Implementation
- The Commission on Audit (COA) is tasked with issuing the accounting rules and regulations to implement this Circular's provisions.
Repealing Clause
- Any provisions in existing circulars or issuances that are inconsistent with this Circular are hereby rescinded, repealed, or modified accordingly.
Effectivity
- This Circular shall take effect on January 1, 1995.
- Adopted on February 28, 1995, by Secretary Salvador M. Enriquez, Jr.