Republic of the Philippines COMMISSION ON AUDIT Regional Office No. II Regional Government Center No.1 Dalan imammo corner Pavvurulun Carig Sur, Tuguegarao Cit MEMORANDUM To : | All Audit Team Leaders/OIC-Audit Team Leaders, Supervising Auditors/OIC-Supervising Auditors Local Government Sector This Region Subject |: | Prescribing the Use of the “Handbook on the Financial Transactions of the Sangguniang Kabataan” on the Proper Recording and Reporting of SK Funds Date : | February 14, 2020 We furnish you a copy of COA Circular No. 2020-003 dated January 28, 2020 from Honorable Chairperson Michael G. Aguinaldo, this Commission, pertaining to the above subject. For information and dissemination to LGUs under your audit jurisdiction. Thank you. Director OIC-Regional Director SCR/BRT/remRepublic of the Philippines COMMISSION ON AUDIT — | Commoninealth Avenue, Quezon City, Boiipvines a 1a, CIRCULAR No. :_2020—003 Date : {AN 28-2020 To = The Provincial Governors, City/Municipal Mayors, Punong Barangays, Sangguniang" Panlalawigan/Panlungsod/Pambayan/ Barangay; Sangguniang Kabataan (SK) Chairperson, SK Treasurer, SK Secretary, SK Members; COA Assistant Commissioners! Directors/Auditors; and All Others Concerned SUBJECT + Prescribing the Use of the “Handbook on the Financial Transactions of the Sangguniang Kabataan” on the Proper Recording and Reporting of SK Funds 1.0 RATIONALE Pursuant to Section 21 of the Implementing Rules and Regulations (IRR) of Republic ‘Act (RA) No. 10742, otherwise known as the Sangguniang Kabataan Reform Act of 2015, the Commission on Audit (COA) shall formulate accounting guidelines pertaining to the proper recording and reporting of SK funds. In consonance with the rule-making function of this Commission provided under Section 2@), Article IX-D of the 1987 Constitution, a handbook on the Financial Transactions of the Sangguniang Kabataan is hereby prescribed to ensure @ uniform and efficient implementation of the said Act. 2,0 COVERAGE ‘This Circular covers all financial transactions pertaining to SK funds. 3.0. SAVING CLAUSE ‘Accounting issues and other matters on the proper recording and reporting of SK funds not considered in the handbook shall be covered by supplemental issuances and/or shall be referred to thi Commission through the Government Accountancy Sector, for see bn 44.0. REPEALING CLAUSE ‘All circulars, memoranda and other issuances or parts thereof which are inconsistent “with the provisions of this Circular are hereby rescinded/repealed/modified accordingly. 5.0 EFFECTIVE DATE ‘This Circular shall take effect after fifteen days from publication in the Official Gazette or two newspapers of general circulation.