COMMISSION ON AUDIT CIRCULAR NO. 94-013
December 13, 1994
All Heads of Departments, Bureaus, Offices, Self-Governing Boards and Commissions, State Universities and Colleges, Chiefs of Financial and Management Services, Chief Accountants/Heads of Accounting Units, Budget Officers, COA Auditors and others Concerned.- the transfer is properly taken up in the books of both agencies,
Rules and Regulations in the Grant, Utilization and Liquidation of FundsTransferred to Implementing Agencies.
There are projects which require inter-agency implementation. The funds are released to the agency which programmed the project in its Budget. In turn, these funds are transferred/sub-allotted to the government agency which will implement the project.
This Circular is, therefore, issued to ensure that:
- the transferred funds are used only for the intended purpose, and that
- proper accounting and reporting is made of the utilization of the funds.