Complete Turnover of Accountabilities by Incumbent Accountable Officers to their Successors, Keeping of Subsidiary Ledgers in the Names of the Accountable Officers, and Reconciliation of Accountable Officers Account

November 5, 1973 REVENUE MEMORANDUM CIRCULAR NO. 69-73 SUBJECT : Complete Turnover of Accountabilities by Incumbent Accountable Officers to their Successors, Keeping of Subsidiary Ledgers in the Names of the Accountable Officers, and Reconciliation of Accountable Officers Account TO : All Regional Director, Revenue District Officers, Revenue Collectors/Cash Clerks, City/Municipal Treasurers acting as Revenue Collectors, Internal Revenue Officers and Others Concerned There is transcribed and quoted hereunder GAO Memorandum Circular No. 625 dated August 21, 1973 for your guidance and compliance, as follows: cdta "August 21, 1973 MEMORANDUM CIRCULAR NO. 625 TO : All Heads of Departments, Managing Heads of Government-Owned and/or Controlled Corporations and self governing boards or commissions, Chiefs of Bureaus or Offices, Accountable Officers, Chief Accountants, Provincial and City Treasurers, All Auditors and Others Concerned. SUBJECT : Complete turnover of accountabilities by incumbent accountable officers to their successors, keeping of subsidiary ledgers in the names of the accountable officers, and reconciliation of accountable officers account. In view of several cases discovered in the course of cash examinations showing the difficulty, if not impossibility, of determining or reconciling exact accountabilities of accountable officers due to lack of formal transfer of accountability from one officer to another or from an outgoing officer to his successor, the following instructions are hereby prescribed: 1. Whenever an accountable officer is transferred or reassigned to another office, or position/designation, or resigns, retires or is otherwise separated from the service, he shall make a complete turnover of all his money and property accountability to his successor upon properly itemized invoice and receipt before assuming his new assignment or before the effectivity of his resignation, retirement or separation from the service, pursuant to Section 645 of the Revised Administrative Code which is quoted as follows: "Section 645. Invoice and receipt upon transfer of funds or property. When Government funds or property are transferred from one officer accountable therefore to another, or from an outgoing officer to his successor, it shall be done upon properly itemized invoice and receipt." 2. An accountable officer, who is transferred or reassigned to another office, must first be cleared of all money and property accountability from the former agency or office before assuming his new assignment to preclude the necessity of securing clearance from the different agencies where he had been previously assigned, upon his resignation, retirement or separation from the service. 3. The accounting unit in each office or agency shall keep the subsidiary ledgers for accountable officers in the names of said officers and not of the designation or offices involved. 4. Accountable officers accounts shall be reconciled regularly (monthly) and upon their transfer, reassignment, retirement, resignation or separation from the service. Strict compliance herewith is enjoined. This Circular shall take effect immediately. (SGD.) ISMAEL MATHAY, SR. Auditor General" Strict compliance with the requirements of this Circular is hereby enjoined. cdta MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5