12.2 Bonding of Accountable Officer
12.2.1 The BT shall be bonded in accordance with existing laws in an amount to be determined by the SB but not exceeding Ten Thousand Pesos (P10,000.00), premiums for which shall be paid by the barangay. (Sec. 395 (d) of RA 7160).
12.2.2 The provincial/city or municipal treasurer may designate the BT as his deputy to collect local taxes, fees or charges. In case a bond is required for the purpose the provincial, city or municipal government shall pay the premiums thereon in addition to the premiums of bond that may be required under this Code. (Sec. 170 of RA 7160).
12.2.3 Copy of the fidelity bond with the appointment and oath of office of each AO shall be furnished to the COA Auditor concerned for record purposes.
12.3 Maintenance and Custody of Records
12.3.1 Every officer primarily accountable for government property shall keep a complete record of all properties under his charge and render his accounts therefore semi-annually to the PB. (Sec. 375 (d) of RA 7160).
12.3.2 The C/M Accountant shall retain a copy of all documents required to be on file.
12.3.3 In case of loss of financial documents, such as DVs, LRs, and the like, the AO or record custodian shall make a report to the PB and COA. The lost records shall be reconstituted by proving its contents by a copy, or by a recital of its contents in some authentic documents or by the testimony of witnesses in the order stated.
12.3.4 Upon reconstitution of the lost documents by the AO, particularly DVs, the same shall be submitted to the PB for approval, to the C/M Accountant for recording in the books of accounts, and to the Auditor for post audit.
12.4 Transfer of Accountability
12.4.1 All AOs leaving the barangay (either through resignation, completion of term, suspension or retirement) shall seek clearance from money and property accountabilities.
12.4.2 Outgoing barangay officials shall secure money and property clearance as provided in DILG Memorandum Circular No. 2002-122 dated August 5, 2002.
12.4.3 The outgoing PB shall turn-over to the incoming PB all the barangay properties and records listed in the Turnover - Receipt form. Both PBs shall sign the invoice-receipt before the outgoing PB secures clearance from the C/M mayor.
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