Publishing Commission on Audit, Ministry of Finance Joint Circular No. 1-81

August 10, 1981 REVENUE MEMORANDUM CIRCULAR NO. 27-81 SUBJECT : Publishing Commission on Audit, Ministry of Finance Joint Circular No. 1-81 TO : All Revenue Service Chiefs, Regional Directors, Field Auditors and Others Concerned For the information and guidance of all concerned, there is quoted below Joint Circular No. 1-81 of the Commission on Audit and the Ministry of Finance, to wit: "Joint Circular No. 1-81 Subject : Amendments to Paragraph II, Sec. 2 of Department Order No. 20-73, (Ministry of Finance) dated June 14, 1973 on the Frequency of Deposits of National Collections Direct to the Bureau of the Treasury or Through Any of the Authorized Government Depository Banks To : All Heads of Ministries, Bureaus and Offices, Self Governing Boards and Commissions, State Universities and Colleges, Schools, Hospitals and Sanitaria, Regional/Field Offices; All National Collecting Officers, Local Treasurers, City, Unit Auditors, and Others Concerned 1.0 Purpose This Circular is issued to amend the guidelines in the frequency of depositing national collections direct to the National Treasury or thru any of the authorized government depository banks to minimize the expenses and man-hours spent relative thereto. 2.0 Frequency of Depositing National Collections and Number of Remittance Advices. Paragraph II, Sec. 2 of Department Order No. 20-73 (Ministry of Finance) dated June 14, 1973 is hereby amended to read as follows: 2. Frequency of Deposits and Number of Remittance Advices. a. Frequency of Deposits Collecting Officers shall deposit their national collections intact to the Bureau of the Treasury or to any authorized government depository banks as prescribed below: : Travel Time : : Distance : (To and From Office : Accumulated : Frequency of (Office to BTR/ : to BTR/Dep. Bank- : Collections : Deposits Dep. Bank) : Ordinary Transp. : : ------------------------------------- 1. Less than 15 : Less than 1 day : a. P500 or more : a. Daily km. : : b. Less than : Weekly or as soon : : P500 : as Collections : : : reach P500.00 ------------------------------------- : : : 2. 15-30 km. : Less than 1 day : a.1 P2,000 or : a.1 Daily : : more : : : : a.2 Weekly or as : : b.2 Less than : soon as Collections : : P2,000.00 : reach P2,000 ------------------------------------- : b. A day or more : b.1 P2,000 or : b.1 Weekly : : or more : : : b.2 Less than : b.2 Twice a month : : P2,000.00 : or as soon as : : : collection reach : : : P2,000.00 ------------------------------------- 3. More than 30 : a. Less than 1 day : a.1 P2,000 or : a.1 Daily km. : : more : : : a.2 Less than : a.2 Weekly or as : : P2,000 : soon as collections : : : reach P2,000.00 ------------------------------------- : b. A day or more : b.1 More than : b.1 Twice a week : : P5,000 : : : b.2 P2,000 - : b.2 Weekly : : P5,000 : : : b.3 Less than : b.3 Monthly or as : : P2,000 : soon as collections : : : reach P2,000.00 ------------------------------------- b. Number of Remittance Advice. Only one set of remittance advice shall be prepared for every deposit for each agency. However, a separate set of remittance advices shall be prepared for the following: (1) Redeposit/replenishment of dishonored cash items (2) Undeposited collections at the end of any calendar year deposited in the ensuing year under a separate remittance advice. cd 3.0 Responsibilities Heads of Agencies, COA Auditors and Treasury Provincial Fiscal Examiners shall strictly enforce the provisions of this Circular. 4.0 Repealing Clause Provisions of Department Order No. 20-73 (Ministry of Finance) dated June 14, 1973 and pertinent provisions of Commission on Audit General Circular No. 130, dated June 16, 1975 and other circulars/orders that are inconsistent herewith are hereby revoked or modified accordingly. 5.0 Effectivity This Circular shall take effect January 1, 1981. (Sgd.) FRANCISCO S. TANTUICO, JR . (Sgd.) ALFREDO PIO DE RODA, JR. Acting Chairman Acting Minister of Finance" Commission on Audit All those concerned are hereby enjoined to be guided accordingly. RUBEN B. ANCHETA Acting Commissioner TAN: A5239-J1139-A-0