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PRESIDENTIAL DECREE NO. 1374
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PRESIDENTIAL DECREE NO. 1374 -
AUTHORIZING THE REVERSION TO THE GENERAL FUND OF DORMANT OR UNNECESSARY
SPECIAL FIDUCIARY FUNDS
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WHEREAS,
the proper allocation of government resources calls for the
comprehensive review of government planning objectives and priorities,
in conjunction with aggregate receipts and resources; chanroblesvirtualawlibrary
WHEREAS, the earmarking for specific purposes of proceeds from taxes,
imposts or other revenues of government, trends to frustrate a
comprehensive review of priorities and resources available;chanroblesvirtualawlibrary
WHEREAS, the initial operation and the implementation of certain
priority activities may justify the creation of Special or Fiduciary
Funds for a specified period of time;chanroblesvirtualawlibrary
WHEREAS, the transfer of dormant or unnecessary Special and Fiduciary
Funds to the General Fund would facilitate the implementation of social
economic programs and projects which will benefit and improve the
welfare of the masses.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
Order and Decree:cralaw:red
Section 1. Statement of Policy. — All revenues of
government shall accrue to the General Fund and thus be made available
to support approved priority programs and projects. Earmarking of
proceeds of special imposts, taxes, or other sources of revenues for
specific uses is discouraged. Exceptions shall be made only in those
cases where, for administrative or other reasons, earmarking of
proceeds may be justified to support a major priority project with
substantial funding requirements for a special period of time.
Section 2. Abolition of Special and Fiduciary Funds.
— The President is authorized to abolish dormant or unnecessary Special
or Fiduciary Funds and transfer all assets, liabilities, surpluses and
appropriations pertaining thereto, to the General Fund of the national
government. The operations of all Special and Fiduciary Funds shall be
reviewed by the Secretary of Finance, the Commissioner of the Budget
and the Chairman of the Commission on Audit. They shall recommend to
the President the abolition of Funds which are found to be dormant, or
whose basis for creation no longer exists, or whose purposes are
provided for by appropriations of the General Fund, thus rendering the
said Special or Fiduciary Funds unnecessary.
Section 3. Rules and Regulations. — The Secretary of
Finance, the Commissioner of the Budget, and the Chairman of the
Commission on Audit shall recommend for the approval and the issuance
by the President, rules and regulations for the effective
implementation of the provisions of this Decree.
Section 4. Repealing Clause. — All existing laws,
decrees and letters of instructions, as well as rules and regulations,
which are inconsistent within the provisions of this Decree are hereby
repealed and/or modified accordingly. chanroblesvirtualawlibrary
Section 5. Effectivity. — This Decree shall take
effect immediately.
Done in the City of Manila,
this 16th day of May, in the year of Our Lord, nineteen hundred and
seventy-eight.
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