Submission of Financial Reports Needed in the Preparation of Certifications of Annual Average Regular Income for Purposes of the Creation, Division or Merger of LGUs or Conversion of a Municipality into a City

October 6, 1997 BLGF MEMORANDUM CIRCULAR NO. 012-97 TO : All Regional Directors for Local Government Finance, Provincial, City and Municipal Treasurers and Others Concerned SUBJECT : Submission of Financial Reports Needed in the Preparation of Certifications of Annual Average Regular Income for Purposes of the Creation, Division or Merger of LGUs or Conversion of a Municipality into a City The Department of Finance and this Bureau has been receiving requests from both Houses of Congress and also from local chief executives for certification of the average annual regular income of LGUs for purposes of the creation, division, merger or conversion of local government units, pursuant to the provisions of Section 450 & 461 of the Local Government Code of 1991 (R.A. 7160). Relative thereto, and in many instances, this Bureau experiences delays in the preparation of said certifications for reason that the financial reports or data needed are not readily available. cdll In view hereof, and in order to facilitate matters, all Provincial, City and Municipal Treasurers are hereby directed to submit to this Bureau, thru their respective Regional Offices, the following financial reports: 1. Report of Revenues & Receipts (annual), of all provinces, cities and municipalities for the last two (2) years, beginning with those for CYs 1995 & 1996; 2. Provincial Form 60-A of all municipalities or Detailed Statement of Shares of Income of the province form the municipalities (annual), for the last two (2) years, also beginning with those for CYs 1995 & 1996. The reports for CY 1997 and the years thereafter shall be submitted regularly on or before the thirty-first (31st) of March of every year to the Regional Office concerned which should forward the same to this Bureau within five (5) days from receipt thereof. The Regional Directors for Local Government Finance and the District Treasurers for Metro Manila are hereby instructed to disseminate the contents of this Circular to the Provincial, City and Municipal Treasurers within their respective jurisdictions and to ensure strict compliance herewith. (SGD.) LORINDA M. CARLOS Executive Director