Court Fiduciary Funds
OCA Circular No. 54-04, issued on April 6, 2004, mandates that all Clerks of Court and accountable officers in various Philippine courts submit a report on unwithdrawn fiduciary funds by April 30, 2004. This requirement is in response to ongoing issues with non-compliance despite previous reminders and is essential for reconciling financial records with the Land Bank of the Philippines and local treasurers. Failure to submit this report will result in the withholding of salaries and benefits for those who do not comply. The directive emphasizes the importance of accountability in managing court funds.
Law Information
- Reference Number
- OCA Circular No. 54-04
- Date Enacted
- Category
- Supreme Court Issuances
- Subcategory
- Office of the Court Administrator Circulars
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
April 6, 2004
OCA CIRCULAR NO. 54-04
| TO | : | All Clerks of Court/Officers-in-Charge of the Regional Trial Courts, Metropolitan Trial Courts, Municipal Trial Courts in Cities, Municipal Trial Courts, Municipal Circuit Trial Courts, Shari'a District Courts and the Shari'a Circuit Courts |
| SUBJECT | : | Court Fiduciary Funds |
It has been reported that many Clerks of Court/Accountable Officers are not submitting the required Report of Unwithdrawn Fiduciary Funds as provided under Circular No. 50-95 dated October 11, 1995, notwithstanding repeated reminders and follow-up letters to this effect.
The Commission on Audit, in their Audit Observation Memoranda, has called the attention of the Office of the Court Administrator on the need to submit this requirement.
For the purpose of periodic reconciliation of our books of accounts and to have an update of existing deposits of all fiduciary fund collections with the Land Bank of the Philippines and the Provincial/City/Municipal Treasurers, all Clerks of Courts/Accountable Officers are required to submit the complete lists of all unwithdrawn fiduciary funds deposited with the Land Bank of the Philippines and in the Provincial, City and Municipal Treasurers. Submission of the lists must be made on or before 30 April 2004 using the attached format.
Failure to comply with said requirement will mean the withholding of salary and benefits.
For strict compliance. ASIDTa
(SGD.) PRESBITERO J. VELASCO, JR.Court Administrator
Cite This Law
Court Fiduciary Funds, OCA Circular No. 54-04, Apr 6, 2004 (Philippines)
Court Fiduciary Funds, OCA Circular No. 54-04 (Phil. 2004)
Related Laws
- Court Fiduciary FundsSupreme Court Circular No. 050-95 • Oct 11, 1995 • Supreme Court Issuances
- Court Fiduciary FundsSupreme Court Circular No. 013-92 • Mar 1, 1992 • Supreme Court Issuances
- Court Fiduciary FundsOCA Circular No. 50-95 • Oct 11, 1995 • Supreme Court Issuances
- Court Fiduciary FundsOCA Circular No. 13-92 • Mar 1, 1992 • Supreme Court Issuances
- The Opening of High Yield Savings Accounts with the Land Bank of the Philippines for All Fiduciary Fund DepositsOCA Circular No. 87-04 • Aug 9, 2004 • Supreme Court Issuances
- Opening of Time Deposit Accounts with the Land Bank of the Philippine for All Fiduciary Fund Deposits Below P1,000,000.00OCA Circular No. 100-04 • Aug 27, 2004 • Supreme Court Issuances
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