Memorandum Circular No. 692




MALACAÑAN PALACE MANILA BY THE PRESIDENT OF THE PHILIPPINES [ Memorandum Circular No. 692, December 17, 1973 ] SUB-ALLOTMENT AND DISBURSING OF FUNDS BY THE IMPLEMENTING AGENCIES OF THE RAD TASK FORCE. Releases to the Presidential Task Force for the Reconstruction and Development of Mindanao are released to the Development Management Staff (Executive Order No. 411) for which in turn these allotments will be sub-alloted to the various implementing agencies as approved by the Financial Sub-Committee of the RAD Task Force. The following will be the guidelines in the sub-allotment and disbursement of the funds requirements to various implementing agencies by the Committee: 1. The implementing agency in accordance with their schedule of project implementation and the Work Plan of the RAD Task Force shall submit a Special Budget to the Financial Committee of RAD Task Force for the projects to be implemented during the year. 2. The Financial Committee reviews, investigates and evaluates the request in the light of the established priorities. 3. The Financial Committee of the RAD Task Force will then sub-allot to the implementing agency the amount approved by it in accordance with the implementing Agency’s Financial Work Plan and request for Allotment using BF No. 121 as revised. 4. The implementing agency shall submit to the Financial Committee of the RAD Task Force a monthly progress report of each of the project or projects being undertaken. 5. The following reports will accompany the Monthly Progress Report for each individual project: a) Statement of Disbursements and Outstanding obligations (as of the month for which the progress report is made); b) Statement of Status of Funds or Reconciliation of Bank Statements if any; c) Statement of Accounts Payable 6. The reports called for (a to c) should be certified, approved and audited by the following officers of the implementing agency: a) Chief Accountant/Project Accountant b) Agency Auditor/Project Auditor c) Head of the Implementing Agency as Project Director 7. Upon receipt of all the financial reports by the Financial Sub-Committee they shall be consolidated for the reference and control by the Sub-Committee.1âшphi1 8. Appropriate forms for purposes of the above are enclosed. All previous memoranda on this subject is hereby modified accordingly. By authority of the President: (SGD.) ALEJANDRO MELCHOR Executive Secretary and Chairman, RAD Task Force Enclosures 17 December 1973 The Lawphil Project - Arellano Law Foundation