Memorandum Circular No. 76




MALACAÑAN PALACE MANILA BY THE PRESIDENT OF THE PHILIPPINES [ Memorandum Circular No. 76, September 19, 1966 ] PRESCRIBING THE POLICY REGARDING THE GRANT OF BUDGETARY AID TO LOCAL GOVERNMENTS. It has been observed that some provincial, city and municipal governments have been habitually depending on budgetary aids from the National Government to finance partly their yearly operational expenses. As a result of this practice, deficits are usually incurred by the local governments concerned whenever the anticipated aid is not released by the National Government for lack of funds.1âшphi1 In order to prevent the incurrence of deficits, provincial, city and municipal governments are hereby advised not to reply on budgetary aids from the National Government in estimating their income to cover operational requirements. For, as a general policy, no such budgetary aids shall be granted in view of the measures of fiscal restraint being undertaken by the National Government. By authority of the President: (SGD.) RAFAEL M. SALAS Executive Secretary Manila, September 19, 1966 The Lawphil Project - Arellano Law Foundation