Republic of the Philippines

Province of Sorsogon
Municipality of Sta. Magdalena
Brgy. Poblacion 2

MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENT:

This Memorandum of Agreement, made and entered into by in between the

Sangguniang Kabataan Council of Barangay Poblacion 2, Sta. Magdalena
Sorsogon represented by HON. NARIA ELLA G. CORREA (Sangguniang
Kabataan Chairperson) and HON. FLORENDA F. GALLON (Punong
Barangay) of Sangguniang Barangay Council of Brgy. Poblacion 2, Sta.
Magdalena Sorsogon for the purposes of Transfer/Release/Deposit of the 10%
of the General Fund of the Barangay to the current account of the SK under
Joint Memorandum Circular (JMC) No. 1. s 2019 dated January 23,2019 by the
Department of Budget and Management(DBM), Department of the Interior
and Local Government (DILG) and National Youth Commission (NYC) on the
Guidelines on the Appropriation, Release, Planning and Budgeting Process for
the SK Funds.

WHEREAS, Section 20(a) of the SK Reform Act of 2015 (Republic Act {RA}
No.10742), ten percent (10%) of the general fund of the Barangay shall be
set aside for the SK. The Sangguniang Barangay shall appropriate the SK
Funds in lumpsum, which shall be disbursed solely for youth development
and empowerment purposes. Furthermore, Section 20(b) of the same law
provides that the SK shall have “Financial Independence” in its operations,
disbursements, and encashment of their fund, income and expenditures.

WHEREAS under 3.2 Release of the SK Fund by the Barangay in which

prescribed by this “JMC No. 1, s. 2019”;

3.2.1 The SK Funds shall be automatically released by the Barangay to the

SK, and shall not be subject to any lien or holdback that may be imposed by
the Barangay for whatever purpose;

3.2.2 Consistent with Section 20(b) of RA No. 10742, the SK shall open a
current account in the name of the SK in a bank, preferably government-
owned, situated in or nearest to its area of jurisdiction, with the SK
Chairperson and the SK Treasurer as the official signatories. For efficiency
and economy purposes, it is strongly encouraged for the SK to open and
maintain a depository account in the same bank and branch of its Barangay.
In the opening of account, the provisions of Department of Finance
Department Circular No. 1-2017 dated May 11,2017 shall be strictly
observed;

3.2.3 The SK Funds shall be deposited by the Barangay in the current

account of the SK not later than five (5) working days after the crediting of
the monthly Internal Revenue Allotment (IRA) share of the Barangay
consistent with the rules and regulations issued by the Commission on Audit
(COA). For all the other income accruing to the General Fund of the
Barangay, the corresponding SK Funds shall be deposited not later than five
(5) working days after the end of the month. The Barangay may opt to
transfer/release the SK funds earlier than herein prescribed on annual,
semestral or quarterly basis, subject to the written agreement between the
Barangay and the SK.
Failure by the Barangay to release any amount of the SK Fund shall subject
the erring officials to penalties under existing laws.
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 WHEREAS on 4.0 Transitory Provision of this JMC, All undisbursed SK Funds
as of December 31, 2019 under the custody of the Barangay shall be
transferred to the current account of the SK. The Utilization thereof shall be
subject to subsequent planning and budgeting by the SK, in accordance with
the policies and procedures prescribed by this JMC.

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:

1. That the Sangguniang Barangay of Barangay Poblacion 2, Sta.

Magdalena Sorsogon shall do and execute the following:

 Transfer/Release/Deposit of all the remaining balances of SK on

December 31, 2019 – December 31,2020 in lump-sum as indicated by
the JMC which shall not be subject to any lien or holdback that may be
imposed by the barangay. It is very strictly emphasized that upon
opening of account of the SK and upon properly introduce to the
Sangguniang Barangay Regular Session the proceed of transfer of its
all remaining Fund must be observed and properly executed. It is
understood that after informing all the Sangguniang Barangay Officials
during regular session transferred of SK Continuing Fund amounting
Three Hundred Six Thousand Two Hundred Fifty Six and Ninety Six
Centavos (₱306,256.96) should be done not later than five (5) working
days after the said session.

 Transfer/Release/Deposit of the ten percent 10% of the General Fund of

the Barangay in the current account of the SK not later than Five (5)
working days after the crediting of the Monthly IRA share of the
Barangay. The exact and Agreed date of Transfer/Release/Deposit of SK
Fund shall be subject to Monthly Basis, it must be deposited on every
5th day of the Month unless the indicated day are (a)holidays or (b)non-
working days the execution will be subject after on those future
concern dates. The total amount of SK Annual Share from the IRA of
this Year is Two Hundred Sixty One Thousand Four Hundred Forty Three
and Seventy Centavos (₱261,443.70) which is approximately Twenty-
One Thousand Seven Hundred Eighty Six and Ninety Eight Centavos
(₱21,786.98) per month which shall be transferred to the SK Account
Name, “Brgy. 2 Poblacion SK” with Account No. 001212-1205-33 every
5th day after the end of each month &;

 Transfer/Release/Deposit of the 10% of all the other regular and income

accruing to the General Fund of the Barangay. The corresponding SK
Share shall be deposited not later than five (5) working days after the
end of the month.

2. That the both parties have read and understood all the terms and
conditions and agreed to the same without reservation.

In witness whereof the parties hereto have caused this Agreement to be

executed in accordance with the laws of the Republic of the Philippines,
signed this _____ day of APRIL, 2021 at Brgy. Poblacion 2, Sta. Magdalena
Sorsogon.
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 HON. FLORENDA F. GALLON NARIA ELLA G.
CORREA
Punong Barangay Sangguniang Kabataan
Chairperson
CTC No. _____________________ CTC No.___________________
Issued On:___________________ Issued On:_________________

Signed & Attested by the Majority of Sangguniang Kabataan

Member:

HON. PRINCESS GARROTE HON. SHIELA GAYMO

Sangguniang Kabataan Member Sangguniang Kabataan Member

HON. ROYCE G. GALLON HON. RUVIL F. BARTOLATA

Sangguniang Kabataan Member Sangguniang Kabataan Member

HON. JOHN RONALD E. LEONCITO HON. JOHN PAUL F.

GAYANES
Sangguniang Kabataan Member Sangguniang Kabataan Member

Signed & Approved by the Majority of Sangguniang Barangay

Member:

HON. AL A. HISPANO HON. ANNE E. GAUFO

Sangguniang Barangay Member Sangguniang Barangay Member

HON. ANA G. DELOVINO HON. ARVIN F. FUELLAS

Sangguniang Barangay Member Sangguniang Barangay Member

HON. REBECCA G. FORTE HON. SANTIAGO F.

FRAYRES
Sangguniang Barangay Member Sangguniang Barangay Member

HON. JOVITO G. GAMOS

Sangguniang Barangay Member

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