In order to be attuned with the times and to rationalize the requirement on the posting of fidelity bond by accountable officers to realistic levels, Item 7.1 of COA Circular No. 97-002 dated February 10, 1997 is hereby amended to read as:

"7.1  Each accountable officer whose total cash accountability is not less than P5,000 shall be bonded.  The amount of bond shall depend on the total accountability of the officer as fixed by the Head of the Agency.  An official or employee who has both money and property accountability shall be bonded only once to cover both accountabilities, but the amount of bond shall be in accordance with the Schedule issued by the Bureau of Treasury."

Any circular or directive in conflict herewith is hereby amended/modified accordingly.

This Circular shall take effect upon its publication.