Anomalous Practice of Engaging in Lending Business Using Taxpayers' Money

March 25, 2009 BLGF MEMORANDUM CIRCULAR NO. 007-09 TO : All BLGF Officials and Employees, Regional Directors, District Treasurers of Metropolitan Manila; Provincial, City and Municipal Treasurers; and Others Concerned SUBJECT : Anomalous Practice of Engaging in Lending Business Using Taxpayers' Money The Office of the Secretary has recently called the attention of this Bureau concerning a reported anomalous practice by some local treasurers of using taxpayers' money for the purpose of engaging in an unlawful lending business. Taxpayers' monies are the lifeblood of the government. They provide a source of fund for the promotion of the general welfare and protection of citizens. Local treasurers are duty-bound to take custody, and exercise proper management, of the funds of the local government unit concerned. As such, therefore, the irregular use of public funds by some unscrupulous local treasurers who, unashamedly and without any compunction, double as loan sharks to promote their own private and selfish interest at the expense of the public funds under their custody and accountability, cannot and should not ever be allowed and tolerated. Accordingly, all concerned, especially local treasurers, are hereby advised and warned to desist from engaging in this unethical/anomalous practice. They must and should be exposed outright and anyone found to be involved therein shall be severely dealt with in accordance with law. DcICEa (SGD.) MA. PRESENTACION R. MONTESA Executive Director