WHEREAS,
the current pattern of social and economic development being undertaken
by the National Government is based upon a structural system of
priorities of all continuing, coordinated, and full integrated social
and economic plans and programs;chanroblesvirtualawlibrary
WHEREAS, there are various distinct, separate and special projects
previously authorized to be implemented and funded from special and
fiduciary funds which, in some cases, are no longer in conformity with
the present development program and/or otherwise run counter to the
objectives of social and economic plans formulated consistent with
national development goals;chanroblesvirtualawlibrary
WHEREAS, there are special fiduciary funds the purposes for which such
funds were created had been fulfilled or abandoned, or that the laws
creating such special and fiduciary funds contain certain restrictions
such that the objectives for which the funds were created cannot be
fully attained resulting in the accumulation of big cash balances in
the special and fiduciary funds involved; chanroblesvirtualawlibrary
WHEREAS, the accumulation of big cash balances in special and fiduciary
funds is adversely affecting the management and control of such cash
resources in the National Treasury, resulting in the useless
immobilization of public funds which otherwise could be
advantageously availed of to finance the prosecution of various
essential public services;chanroblesvirtualawlibrary
WHEREAS, the transfer of the funding and operation of all existing
special and fiduciary funds into the general fund would
facilitate the implementation of social and economic programs and
projects of the government for the benefit and general welfare of the
masses; chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the constitution, do hereby
order and decree:cralaw:red
Section 1. All existing special and fiduciary funds
are hereby abolished and all assets, liabilities, surpluses and
appropriations pertaining to all special and fiduciary funds as
authorized by the corresponding acts, laws, or decrees creating such
special and fiduciary funds, as well as the financing and operations
thereof, are hereby transferred to the General Fund of the National
Government; provided that the personnel whose salaries and/or wages are
drawn from such special and fiduciary funds shall be paid out of the
General Fund subject to the provisions of Section 2 hereof;chanroblesvirtualawlibrary
Section 2. The existing functions and activities
authorized under present laws creating each of the special and
fiduciary funds which, as determined by the National Economic and
Development Authority, are in conformity with the present social and
economic plans and programs formulated consistent with national
development goals shall continue to be maintained under the General
Fund. All taxes, levies, fees, imposts and other income of special and
fiduciary funds duly authorized under existing laws shall remain
in force and shall accrue to the General Fund.
Section 3. The Secretary of Finance, the
Commissioner of the Budget, and the Chairman of the Commission on
Audit shall issue the necessary rules and regulations for the effective
implementation of the provisions of this Decree.
Section 4. All existing laws, decrees, and letters
of instructions, as well as rules and regulations, which are
inconsistent with the provisions of this Decree are hereby repealed
and/or modified accordingly.
Section 5. This Decree shall take effect on July 1,
1975.
DONE in the City of Manila,
this 27th day of May, in the year of Our Lord, nineteen hundred and
seventy-five.
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