Law Summary
Responsibilities of the Chief of Agency
- The Chief of Agency is accountable for collecting and properly accounting for all revenues under the agency's jurisdiction.
- Must implement reasonable steps to minimize loss, defalcation, and irregularities.
- Responsible for ensuring adequate procedures and supervision over accountable officers.
Deposit and Crediting of Income
- All income must be deposited to the National Treasury or authorized government depositories unless law specifies otherwise.
- Deposited income shall accrue to the unappropriated surplus of the General Fund (Section 65, PD 1445).
Issuance and Accountability of Official Receipts
- Collecting officers must immediately issue official receipts for any payment received.
- Receipts must be officially numbered, kept under proper custody, and be subject to audit (Section 68, PD 1445).
Remittance of Collected Funds
- Authorized public officers must remit full collected amounts intact to the respective agency treasury and credited to the correct accounts (Section 69).
- Monthly deposit abstracts certified by the Treasurer must be reconciled with collection reports.
Appointment and Duties of Collecting Officers
- Duly bonded collecting officers shall be appointed to receive and collect payments.
- They must submit monthly collection reports to the auditor.
Order of Payment Requirement
- Collecting officers require an Order of Payment from accounting officials before receiving payments.
- The Order must include payee name, amount, payment nature, and account code.
Recording and Documentation
- Collections must be recorded immediately in a cash book dedicated to collections.
- Official receipts must be immediately issued upon receipt.
Daily Remittance Procedure
- Collecting officers must remit daily all collections to the National Treasury or authorized depository.
- Remittances must be supported by validated Remittance Advice forms.
Distribution of Validated Remittance Advices
- Various copies of the remittance advice are distributed among the Bureau of the Treasury, government depository banks, collecting officers, and reports.
- Distribution specifics differ for direct remittance to the Treasury versus via depository banks.
Monthly Reporting of Collections
- Collecting officers prepare monthly reports in triplicate distributed among the Resident Auditor, Chief Accountant, and their personal files.
Cross-Checking and Credit of Collections
- The Chief Accountant cross-checks remittance advices with deposit records before crediting collecting officers' accounts.
Reconciliation with National Treasury Abstracts
- The Chief Accountant verifies the monthly abstract of remittances against credited collections.
- Any discrepancies are immediately addressed or elevated to higher authorities.
Clearance upon Retirement or Resignation
- Collecting officers cannot be cleared upon retirement or resignation until their remittances are fully cleared by the National Treasury.
Legal Foundation and Compliance
- Guidelines are based on PD 1445 provisions, National Accounting and Auditing Manual, and COA Circular No. 78-78.
- These procedures ensure accountability and minimize discrepancies in handling national collections.