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  • Brgy Depository

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    Nyhlene Reyes Tubo
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    The document discusses the financial procedures for barangays in the Philippines. It states that a barangay shall maintain only one depository account with an authorized government bank. If another bank is selected, it requires a resolution from the Sangguniang Barangay and approval from the Punong Barangay. A barangay may also maintain a time deposit account for idle funds with prior approval. The Punong Barangay must authorize the bank to provide the Municipal/City Accountant and Auditor with monthly bank statements, and it is the duty of the Barangay Treasurer to ensure this.

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    The document discusses the financial procedures for barangays in the Philippines. It states that a barangay shall maintain only one depository account with an authorized government bank. If another bank is selected, it requires a resolution from the Sangguniang Barangay and approval from the Punong Barangay. A barangay may also maintain a time deposit account for idle funds with prior approval. The Punong Barangay must authorize the bank to provide the Municipal/City Accountant and Auditor with monthly bank statements, and it is the duty of the Barangay Treasurer to ensure this.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    3 views1 page

    Brgy Depository

    Uploaded by

    Nyhlene Reyes Tubo
    The document discusses the financial procedures for barangays in the Philippines. It states that a barangay shall maintain only one depository account with an authorized government bank. If another bank is selected, it requires a resolution from the Sangguniang Barangay and approval from the Punong Barangay. A barangay may also maintain a time deposit account for idle funds with prior approval. The Punong Barangay must authorize the bank to provide the Municipal/City Accountant and Auditor with monthly bank statements, and it is the duty of the Barangay Treasurer to ensure this.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    4.1.

    15 The barangay shall maintain only one depository account with Authorized Government
    Depository Bank (AGDB) in the name of the barangay. The selection of a depository bank other
    than the AGDB, duly authorized by the Bangko Sentral ng Pilipinas to accept government funds,
    shall be covered by a Resolution of the SB and approved by the PB. In case there are idle
    funds, cash which can be freely invested after considering provisions for recurring expenses
    and programmed disbursements for capital outlay, within the context of the cash operating cycle
    of the barangay, the barangay may maintain a time deposit account with prior authority of the
    SB and approval of the PB.

    4.1.16 The PB shall authorize the AGDB or depository bank other than AGDB to furnish the C/M
    Accountant and the Auditor a copy of the monthly bank statement. It shall be the duty of the BT
    to see that copies of monthly bank statements are furnished said officials. The PB shall furnish
    the Auditor a copy of said authorization.

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