EXECUTIVE ORDER NO. 449
EXECUTIVE ORDER NO. 449 -
REALIGNING THE ORGANIZATION OF THE BUREAU OF TREASURY
WHEREAS,
on one hand, the Bureau of Treasury has assumed the fiscal agency
function of the national government from the old Central Bank of the
Philippines;
WHEREAS, on the other hand, the function of releasing Internal Revenue
Allotments to local government units had been transferred to the
Department of Budget and Management;
WHEREAS, the Bureau has decentralized its fidelity bonding of all
accountable officers to the regional/provincial level;
WHEREAS, the Bureau has moved towards full computerization and
networking with such projects as the implementation of the Automated
Debt Auction which improved the processing of securities;
WHEREAS, in the light of these changes, there is an urgent need to
restructure the functional groupings in the Bureau and thus enable it
to perform more effectively its functions;
WHEREAS, under Sec. 78 of the General Provisions of Republic Act No.
8250 (General Appropriations Act for FY 1997), heads of departments,
bureaus and agencies are directed to scale down, phase out or abolish
activities no longer essential in the delivery of public services;
WHEREAS, under Sec. 76 of the General Provisions of Republic Act No.
8250, the President may direct changes in the organization and key
positions in any department, bureau or agency;
NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Republic of the
Philippines, by virtue of the powers vested in me by law, do hereby
order:
Section 1. Restatement of the functions of the Bureau
of the Treasury. — The Bureau of the Treasury, hereinafter referred to
as the Bureau, shall have the following functions:
1.
Assist in the formulation of policies on borrowing, investment and
capital market development;
2. Formulate
adequate operations guidelines for fiscal and financial policies;
3. Assist in
the preparation by government agencies concerned of an annual program
for revenue and expenditure targets, borrowing levels and cash balances
of National Government (NG);
4. Maintain
books of accounts of cash transactions of the NG;
5. Manage the
NG cash resources, collect advances made by NG and guarantee forward
cover fees due NG, control and service its public debt, both foreign or
domestic;
6. Issue,
service, redeem government securities for the account of the NG as may
be authorized by the President pursuant to law;
7. Administer
the Securities Stabilization Fund by purchase and sale in the open
market of government bills and bonds to increase the liquidity and
stabilize the value of said securities in order to promote private
investment in government securities;
8. Act as
principal custodian of financial assets of the NG, its agencies and
instrumentalities;
9. Bond all
accountable public officials and employees pursuant to the provisions
of the Public Bonding Law and issue appropriate guidelines therefor; and
10. Perform
such other related functions as may be assigned to it by competent
authorities.
Sec. 2. The Bureau shall be composed of the
following organizational units:
1.
Office of the Treasurer of the Philippines — The Bureau shall be headed
by the Treasurer of the Philippines (TOP) who shall be appointed by the
President upon the recommendation of the Secretary of Finance
hereinafter referred to as the Secretary. The following Services shall
directly assist the TOP in his functions:
1.1
Legal Service, which shall provide legal advice and opinion to the
agency on matters involving statutes, laws, rules and regulations
affecting the Bureau; act as counsel of the Bureau or the Treasurer of
the Philippines in court litigation; take legal action against
violators of Treasury regulations; handle the escheat of dormant
accounts with banks pursuant to existing laws; and conduct
investigation and hearing of administrative cases filed against
Treasury personnel.
1.2 Internal
Audit and Security Service, which shall review and evaluate the control
procedures for the purpose of ascertaining the adequacy, propriety and
effectiveness of the control systems; audit maturing coupon payments
attached to Land Bank Bonds; formulate and enforce adequate security
measures for Treasury officials, employees and properties; and provide
escort and security services to the National Cashier when withdrawing
cash from the Bangko Sentral ng Pilipinas and upon request, to other
representatives of government agencies withdrawing cash from the
National Treasury.
2. Planning
and Policy Subsector — The Subsector shall be headed by a Deputy
Treasurer of the Philippines who shall be appointed by the President
upon the recommendation of the Secretary. It shall be composed of the
following;
2.1
Research Service, which shall prepare, in coordination with various
government agencies and instrumentalities of the NG, annual plans and
programs with respect to inflow of funds from revenues and debt sources
into the Treasury; formulate and recommend policies, plans and programs
for the management of the NG’s cash resources, domestic debt and
financial assets; assess results of operations in relation to NG’s
cash, debt and financial asset policies, plans and programs; provide
technical assistance and advice on matters pertaining to management of
funds, flotation of government securities, fiscal programming, debt
management, etc.; and conduct researches and policy studies aimed at
improving the overall treasury management.
3. Operations
Subsector — The Subsector shall be headed by a Deputy Treasurer of the
Philippines who shall be appointed by the President upon the
Recommendation of the Secretary. It shall be composed of the following:
3.1
Asset Management Service, which shall take charge of the effective
management of the NG’s cash receipts and disbursements; maximize the
earnings of NG’s fund and reduce cost through timely and proper
investment of idle cash balances in high yielding interest account and
prompt servicing of NG’s obligations; administer effectively the Bond
Sinking Fund (BSF) and Securities Stabilization Fund (SSF); see to it
that collections due the Bureau that are received during the day are
deposited with authorized government depository banks (AGDBs) on the
same day; act as custodian of NG’s holdings in government securities
and other non-cash accounts and securities for safekeeping; see to it
that national collections are accurately credited to the Savings
Account of the Top by AGDBs on the day the collections are received;
and determine the correctness of interest credited by AGDBs to the
TOP’s account.
3.2 Liability
Management Service, which shall interlink revenue and expenditure
operations of the government; render assistance on matters involving
policy formulation and rationalization of public borrowings and
management of borrowed funds; participate in the programming,
structuring and timing of borrowing proposals in close coordination
with the Bangko Sentral ng Pilipinas and the Department of Budget and
Management; render assistance to government agencies, corporations and
financial institutions on matters pertaining to loan proceeds; monitor
data on availments of repayments and status of the public debts; and
maintain inventory of documents on various public sector external
liabilities transferred to the NG.
4. Auxiliary
Subsector — The Subsector shall be headed by a Deputy Treasurer of the
Philippines who shall be appointed by the President upon the
recommendation of the Secretary. It shall be composed of the following:
4.1
Accounting Service, which shall account for all receipts and
disbursements of the national government, including national
collections and budgetary expenditures, foreign and domestic
obligations, backpays and emergency currency notes; compute guarantee
fees and interest on advances and prepare billings/collection
statements; account for the liabilities transferred to NG; maintain
subsidiary ledger accounts; and prepare financial statements/reports.
4.2
Administrative Service, which shall be responsible for providing
general housekeeping services in the Bureau, including the procurement
of supplies, materials and equipment and maintenance of building
premises, properties and assets; administration of personnel management
programs involving the recruitment, selection and promotion of
officials and employees; and conduct of training courses and seminars
to enhance personnel benefits.
4.3 Management
Information Systems Service, which shall provide support services to
all operating units in the Bureau whose operational requirements call
for the use of computers.
5. Regional
Offices — These Offices shall include all Provincial/District Offices
which shall report directly to the TOP. They shall be responsible for
the examination of the books of accounts of national collecting
officers and local treasurers, including the monitoring of reports of
provincial offices; providing technical advice and support to
government field representations in the implementation of laws, rules
and regulations governing Treasury operations; recommending Fidelity
Bond claims to the Treasurer of the Philippines for payment, chargeable
against the Fidelity Fund; and consolidating daily reports on national
collections and disbursements as submitted by provincial offices.
Sec. 3. Funding. — Funds needed to carry out the
provisions of this Executive Order shall be taken from funds available
in the Bureau.
Sec. 4. Redeployment of Personnel. — The TOP may
redeploy officials and employees in the Bureau in accordance with the
realigned functions herein prescribed. Said redeployment, however,
shall not result in the dislocation of existing personnel nor in the
diminution of rank and compensation and shall take into account
pertinent Civil Service laws and rules.
Sec. 5. Implementing Rules and Regulations. —
Subject to the approval of the Secretary, the TOP shall prepare the
rules and regulations to ensure the effective implementation of the
provisions of this Executive Order.
On the basis of the organizational changes embodied in this Executive
Order, the TOP shall submit a detailed organizational structure of the
Bureau, including functional statements and staffing pattern for review
and approval of the Department of Budget and Management.
Sec. 6. Effectivity. — This Executive Order shall
take effect immediately.
DONE in the City of Manila,
this 17th day of October in the year of Our Lord, Nineteen Hundred and
Ninety-Seven.
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