February 9, 1994

DAR MEMORANDUM CIRCULAR NO. 02-94

SUBJECT    :     Guidelines on Financial Matters

In the interest of the service and in order to improve the administrative procedures, the following guidelines on financial matters are hereby adopted as follows:   CTAIHc

1.         Field financial operation will have a cut-off date of 20th day of each month except the last month of the fiscal year which shall be at the end of the month. This is to allow the accountants both regional and provincial to prepare the required Trial Balances and other financial reports for the month. The provincial accountants shall submit to the region, copy furnish the central office, these documents on or before the 25th day of the month. The regional accountant shall likewise on this date submit to Central Office Accounting Division the Trial Balances and financial statements of the region proper. This will allow the Central Office to start its initial analysis and evaluation meanwhile that the regional accountants prepare the consolidated statements for submission to the Central Office on or before the end of the month. The Central Office is required to submit the consolidated financial statements for the Department to Central Authorities such as Commission on Audit (COA) Department of Budget and Management (DBM) on or before the 10th day of the following month.

2.         All communications pertaining to financial matters particularly those affecting financial reports and supporting documents shall be addressed to the Assistant Secretary, FMAO/Assistant Regional Directors for Administration as the case maybe.

ATTENTION:          ACCOUNTING DIVISION/BUDGET DIVISION

(Concerned Office or Division)

3.         The approved budgetary structure which correspond to cost center shall be properly maintained in the Journal and Analysis of Obligations (JAO). However, to produce additional costing information, financial transactions shall be properly coded. The code shall be indicated at the face of the documents and disbursement voucher by the certifying official, supervising or incharged of the activity for the guidance of the budget and accounting offices for the charging and recording on the proper cost center. Attached herewith is the list of cost center codes for your guidance.

4.         The budget office shall see to it that expenditure are in accordance with the approved work and financial plan and are within the allocated cost.   cHATSI

For guidance and strict compliance.

(SGD.) ROLANDO LL. QUERUBIN

Assistant Secretary of FMAO