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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 476 -
REVERSION OF CERTAIN APPROPRIATIONS |
The Chairman, Commission on Audit
Pursuant to the provisions of Presidential Decree No. 999 authorizing the reversion of dormant or unnecessary appropriations and in order to more fully allow the rational evaluation of outstanding appropriations, it is hereby directed that (1) all remaining balances of appropriations included in the attached list be reverted to the unappropriated surplus of the General Fund, effective immediately, (2) all equity investments in government corporations which are provided for in general Appropriations Acts and which are not actually released during the fiscal period covered, be automatically reverted to the General Fund, and (3) the Commissioner of the Budget include the yearly budgetary proposals amounts which may otherwise need to be funded by reverted appropriations.
Done in the City of Manila, this 22nd day of October, in the year of Our Lord nineteen hundred and seventy-six.
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Since 19.07.98.
