MEMORANDUM CIRCULAR NO. 5 - REQUIRING ALL HEADS OF DEPARTMENTS, AGENCIES AND OFFICES TO COORDINATE WITH THE DEPARTMENT OF BUDGET AND MANAGEMENT AND THE DEPARTMENT OF FINANCE IN THE PREPARATION OF BUDGETARY PRESENTATIONS

In order to effectively implement a sound policy of financial restraint in view of the budgetary constraints the country is currently addressing as a result of the adverse regional financial situation, there is a need to harmonize and coordinate efforts in the preparation of budgetary presentations.  

Toward this end, all departments, agencies and offices, in the preparation of their budgetary presentations, are hereby directed to coordinate with the Department of Budget and Management and the Department of Finance regarding source of funds, funding priorities, mandatory expenditures and similar technical requirements, and the matter of unfunded laws or laws passed with funding deficiencies the total requirement of which, as of 1998, already amount to approximately P435.1 Million.

The Department of Budget and Management is hereby tasked to take the lead in the effective implementation of this circular.  

For compliance.

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Since 19.07.98.