COMMISSION ON AUDIT RESOLUTION NO.

2000-003
January 25, 2000

SUBJECT : Realignment of P3 Million from the Commission's Savings as Additional

Fund to the Accident Insurance Fund.

WHEREAS, this Commission has established on September 21, 1995 under COA
Resolution No. 95-618 an Accident Insurance Program (AIP), with a seed money
ofP4,000,000;

WHEREAS, the AIP has been instituted to "help COA employees and/or their families
face and overcome the shock and grief of loss of life or dismemberment due to accidents";

WHEREAS, the intent of this Commission of ensuring the long-term viability of the AIP
as one of the continuing priority personnel benefit programs of the Commission has to be
fulfilled;

WHEREAS, pursuant to item d.3 of COA Memorandum No. 96-015 dated April 25,
1996, "Additional funds to the Accident Insurance Fund may be transferred by the
Commission upon the recommendation of the Board of Trustees and approval by the
Commission Proper";

WHEREAS, the Commission, through the Personnel Welfare and Assistance (PWA),
Office of the Chairman, has granted the total amount of P3,300,000 to the heirs of eleven
COA employees who died due to accident, leaving the Accident Insurance Fund (AIF) a
balance ofP700,000.00

NOW THEREFORE, upon the recommendation of the PWA Board of Trustees, this
Commission hereby resolves to realign the amount of P3,000,000 from the Commission’s
savings as additional fund to the Accident Insurance Program;

RESOLVED FURTHER, that the PWA shall continue to administer the AIF.

Adopted this 25th day of January 2000.

(Sgd.) CELSO D. GAÑGAN

Chairman

(Sgd.) RAUL C. FLORES (Sgd.) EMMANUEL M. DALMAN

Commissioner Commissioner