Republic of the Philippines

MINISTRY OF FINANCE Office of the Minister Manila

MINISTRY ORDER NO. 5-86

February 27, 1986

TO SUBJECT

.

The Treasurer of the Philippines Guidelines in the treatment :of. :Treasury Warrants

re..prese:iting-'disbursemeiits fromthe national funds issued before February 27; 1986 and are being presented for (1) direct encashment at the Bureau of'the Treasury;-(2) scheduling ofencash-

metit-by-the Bureau of'the Treasury; and (3) clearing purposes '(negotiated - thru banks).

In view of the. assumption of office of the new administration and considering the present low cash resources of the government, the availment of which nay yet be prioritized, it is hereby directed that -

1. Treasury Warrants covering disbursements, other than payment of regular salarieslallowances; ordinary transportation expenses; standing contractual obligations (rentals, maintenance fees, etc); ordinary supplies and equipments and other expenditures of similar nature, which are issued before February 27, 1986 and are being presented for encashment in the Bureau of the Treasury:- the payees of said Treasury Warrants shall be advised to return the'same to the issuing agencies for replacement. Treasury Warrants issued before February 27, 1986 and are 2. presented to the Bureau of the Treasury for scheduling of encashment (pursuant to existing policies) which cover disbursements other than the exceptions abovementioned:-the agency concerned shall be advised to submit the transaction involved for pre-audit by the Resident Auditor or confirmation by the present head of the agency before same are accepted for scheduling;

3. Treasury Warrants issued before' February 27, 1986 and are presented to the Bureau of the Treasury for clearing purposes and other than the exceptions abovementioned:- clearing shall be withheld. They shall be returned to the negotiating bank before the expiration of the 48-hour clearing rule. The banks concerned shall be advised that further verification as to the sufficiency of funds to support

"Tsang Bansa,Isang Diwa"

the issuance of said Treasury Warrants is being made and that the same shall be submitted for reclearing after four (4) days. In these cases the Bureau of the Treasury shall take immediate steps to secure confirmation as to the propriety of the issuance of said Treasury Warrants before the lapse of the four-day period. If confirmation is not received within this four-day period, said Treasury Warrants shall be dishonored.

This order takes effect immediately. February 27, 1986.

ALFREDO'PIO DE R^ JR. Acting. Minister f finance

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