A
collection of Philippine laws, statutes and codes
not
included or cited in the main
indices
of
the
Chan Robles Virtual Law Library
PRESIDENTIAL DECREE NO. 613
|
PRESIDENTIAL DECREE NO. 613
- ALLOWING THE EXPENDITURE DURING THE PERIOD FROM JANUARY FIRST TO JUNE
THIRTY, NINETEEN HUNDRED AND SEVENTY-THREE, OF THE INCOME ACCRUING TO
THE GENERAL, TRUST AND OTHER FUNDS IN THE PHILIPPINE TREASURY DURING
THE SAME PERIOD, AND FOR OTHER PURPOSES
|
chanroblesvirtualawlibrary
WHEREAS,
figures compiled by the National Accounting Service of the Budget
Commission and as reconciled with those of the Commission on Audit,
show that as of fiscal year of 1971-72 ended June 30, 1972, there was a
deficit of P335,412,694.71 in the General Fund;chanroblesvirtualawlibrary
WHEREAS, pursuant to the provisions of Republic Act No. 992, otherwise
known as the Revised Budget Act, a quarterly allotment system was
established and designed to forestall deficit by keeping expenditures
within the income;chanroblesvirtualawlibrary
WHEREAS, following the allotment system the collections at the
beginning of the ensuing fiscal year will have to be applied first to
wipe out the deficit of the previous fiscal year which, in effect,
would paralyze the essential activities of the Government during the
first quarter of the new fiscal year; chanroblesvirtualawlibrary
WHEREAS, it is clearly in the public interest that the said deficit of
P335,412,694.71 incurred during the fiscal year 1972 which ended June
30, 1972, should be blocked to enable the Government to use the
collections during the initial period of fiscal year 1973 to cover the
expenditures previously authorized by law instead of applying the said
collections to wipe out the deficit of the previous year;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the Constitution, do hereby
decree and order the following:cralaw:red
Section 1. The expenditures made during the period
from July first to December thirty-first, nineteen hundred
seventy-three pursuant to appropriations made by law prior to this
Decree, of the income accruing to the general, special, trust, and
other funds in the Philippine Treasury for the said period is hereby
authorized: Provided, however, That the expenditures from special and
trust funds for the purposes for which said special and trust funds
were created.
Section 2. All laws, decrees, orders, rules and
regulations or parts thereof inconsistent herewith are hereby repealed
or modified accordingly. chanroblesvirtualawlibrary
Section 3. This Decree shall take effect immediately.
Done in the City of Manila,
this 18th day of December, in the year of Our Lord, nineteen hundred
and seventy-four.
|
Back
to Home
- Back
to Main
chanroblesvirtuallawlibrary
Since 19.07.98
|
