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PRESIDENTIAL DECREE NO. 75
PRESIDENTIAL DECREE NO. 75 -
AMENDING REPUBLIC ACT NUMBERED TWENTY-THREE HUNDRED SIXTY-ONE, ENTITLED
"AN ACT REVERTING TO THE GENERAL FUNDS OF THE NATIONAL GOVERNMENT THE
CASH BALANCES OF CERTAIN SPECIAL OR REVOLVING FUNDS UNDER CERTAIN
CONDITIONS"
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WHEREAS, under R.A. No. 2361, enacted on
June 20, 1959, the whole or any such portion of any outstanding cash
balance of a special or revolving fund shall be transferred to the
general fund of the National Government upon certification by the head
of office administering said fund and attestation by the Auditor
General to the effect that the purpose or purposes for which the said
fund was created had been fulfilled or abandoned or that the amount of
cash balance or any portion thereof is no longer needed without
adversely affecting the purpose for which the fund was created;chanroblesvirtualawlibrary
WHEREAS, the Auditor General, in his annual reports for Fiscal Year
1968 thru Fiscal Year 1971 has repeatedly recommended the amendment of
R.A. No. 2361 so as to enable the Auditor General even without the
certification of Agency Head concerned to transfer the outstanding cash
balances of any special or revolving fund upon determination, based on
financial statements periodically submitted to the General Auditing
Office, that the fund has completely stopped operation for the last two
years or that the cash balance thereof has remained intact, or dormant
for the same number of years;chanroblesvirtualawlibrary
WHEREAS, as a result of these existing special funds remaining idle or
dormant, large amounts of public funds are uselessly immobilized, which
otherwise could be made available for financing the various essential
public services of the Government;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines, and
pursuant to Proclamation No. 1081, dated September 21, 1972, and
General Order No. 1, dated September 22, 1972, as amended, do hereby
adopt and make as part of the law of the land certain amendments to the
provisions of Republic Act No. 2361 entitled "An Act Reverting to the
General Funds of the National Government the Cash Balances of Certain
Special or Revolving Funds under Certain Conditions" which shall read
as follows:cralaw:red
Section 1. Section one of Republic Act Numbered
Twenty-three hundred sixty-one, entitled "An Act Reverting to the
General Funds of the National Government the Cash Balances of Certain
Special or Revolving Fund under certain Conditions," is hereby amended
as follows: chanroblesvirtualawlibrary
"Sec. 1. Any provision of law to the contrary
notwithstanding, the whole or any such portion of any outstanding cash
balance of any special or revolving fund upon certification by the
Auditor General, as determined by him from the financial statements
periodically submitted to the General Auditing Office, to the effect
that the fund has completely stopped operation for the last two years
or that the balance has remained intact or dormant for the same number
of years, is hereby transferred to the general funds of the national
government, and written report of such transfer shall immediately be
given by the Auditor General to the President of the Philippines, the
Secretary of Finance, the Commissioner of the Budget and the Treasurer
of the Philippines."
Section 2. Effectivity. — This Decree shall take
effect immediately.
Done in the City of Manila,
this 6th day of November, in the year of Our Lord, nineteen hundred and
seventy-two.
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