Public funds should be monitored to ensure that it is spent and utilized appropriately and accurately. Hence, one of the programs contained in Division Strategic Plan and implemented in the Division of Malaybalay City is “Pera ng Bayan, Bantayan” which aims to strictly monitor the liquidation of cash advances.
Section IV of Presidential Decree 1445 provides the following fundamental principles which govern the financial transaction and operations of any government agency: 1) No money shall be paid out of any public treasury or depository except in pursuance of an appropriation law or other specific statutory authority; 2) Government funds or property shall be spent or used solely for public purpose; 3) Trust funds shall be available and may be spent only for the specific purpose for which the trust was created or the funds received; 4) Fiscal responsibility shall, to the greatest extent, be shared by those exercising authority over the financial affairs, transactions, and operations of the government agency; 5) Disbursement or disposition of government funds or property shall invariably bear the approval of the proper officials; 6) All laws and regulations applicable to financial transactions shall be faithfully adhered to; and 7) Generally accepted principles and practices of accounting as well as of sound management and fiscal administration shall be observed, provided that they do not contravene existing laws and regulations.
The above mentioned provisions are the guiding principles of Accountable Officers or Disbursing Officers in their utilization and disbursement of public funds as well the responsible persons who will monitor if the public funds are appropriately and accurately utilized. Observation of these provisions will result to submission of accurate and up to date required financial reports to support the liquidation of cash advances, thus minimizing or even eliminating the problems encountered in downloading of funds to the schools.
Strict adherence to this program is highly expected of every administrator/ public official.