Bureau of Local Government Finance Opinion

July 26, 2011 BUREAU OF LOCAL GOVERNMENT FINANCE OPINION 6th Indorsement Respectfully returned without action to the OIC-Regional Director, Bureau of Local Government Finance, Department of Finance, Region X, 6th Division corner Tejero St., Patag, Cagayan de Oro City, the herein request for approval to open a depository account of the Province of Camiguin with the Philippine National Bank (PNB)-Mambajao Branch, which per verification made by the Department of Finance (DOF), the Land Bank of the Philippines (LBP)-Camiguin Branch can provide the same payroll ATM service facility being offered by PNB-Mambajao Branch. DOF further stated that as a matter of policy, DOF Order No. 27-05, providing "All Provincial, City and Municipal Treasurers, Commissioners of BIR and BOC, Heads of attached agencies of the DOF and the Heads of all GOCCs shall deposit their funds and maintain depository accounts with a) Land Bank of the Philippines; and b) Development Bank of the Philippines," should be observed by LGUs, "for consistency in the treatment of government deposit accounts." Be guided accordingly. AHacIS (SGD.) MA. PRESENTACION R. MONTESA, CESO III Executive Director