Law Summary
Deposit Maintenance and Valuation
- Deposits must remain in the TOP savings account for no more than five days from the deposit date.
- AGDBs are penalized at one percent per day of the deposit amount if they fail to credit the deposit on the value date.
- The Bureau of the Treasury-Central Office (BTr-CO) notifies the AGDB Head Office daily of total deposits to the TOP account.
Validation of Deposits by AGDB
- AGDBs must validate deposit information by Day 2 for Metro Manila branches and Day 3 for branches outside Metro Manila from the deposit value date.
Definitions
- "Authorized Government Depository Banks" are banks majority-owned by the government or government-owned corporations.
- "National Collections" include fees, charges, and revenues collected by government entities and remitted to the National Treasury.
- "Treasury Fiscal Examiners" are BTr officials assigned by province/city to report collections, verify amounts, and ensure timely deposits.
Responsibilities of National Collecting Officers/Local Treasurers
- Prepare triplicate and sequentially numbered Lists of Collections (LCs) with date of collection as the LC date.
- Label LCs "A" for same-day deposits and "B" for next banking day deposits; footnote checks previously dishonored.
- Deposit all national collections into the TOP savings account with the accredited AGDB branch.
- Complete the AGDB deposit slips in triplicate and attach the LC to the validated deposit slip for fiscal examiner inspection.
Responsibilities of AGDB Branch and Head Office
- Receiving tellers validate deposit slips by stamping and signing all three copies.
- Distribute copies of validated deposit slips: original to AGDB branch, second copy to NCO/LT, and third copy with LC to fiscal examiners.
- Inform NCO/LT and fiscal examiners of dishonored checks.
- Compile Daily Summary of Deposits and submit to fiscal examiners with validated deposit slips.
- AGDB Head Office issues credit advice and daily summary to the TOP, meeting deadlines for Metro Manila and provincial branches.
Responsibilities of Treasury Fiscal Examiners (TFE)
- Collect validated deposit slips, LCs, and daily summaries from AGDB.
- Reconcile deposit amounts with AGDB records.
- Demand refund and redeposit of dishonored checks.
- Prepare daily reports and submit to the respective Treasury Regional Office.
Responsibilities of Treasury Regional Office
- Consolidate daily reports from provincial fiscal examiners.
- Submit consolidated daily deposit summaries to the Bureau of the Treasury-Central Office immediately via fax.
- Mail original copies of these summaries to the Central Office.
Repealing Clause
- Provisions inconsistent with DOF Order No. 14-94 are repealed or modified accordingly.
Sanctions
- Non-compliance by responsible officers or employees will result in appropriate criminal and/or administrative action.
Effectivity
- This order took effect on June 1, 1996.