AN ORDINANCE ADOPTING A SOCIO ECONOMIC FUND SYSTEM IN THE MUNICIPALITY OF MARIBOJOC, BOHOL.
Be it ordained by the Municipal Sangguniang Bayan of Maribojoc, Bohol, that:
SECTION 1: That there shall be a Socio Economic Fund System to be adopted in the Municipal Government of Maribojoc, Bohol.
SECTION 2: That the Municipal Treasurer shall be designated as the treasurer of the said fund.
SECTION 3: That there shall be designated solicitors for the Socio Economic Fund System to be recommended by the Municipal Treasurer and approved by the Municipal Mayor.
SECTION 4: That a separate receipt will be printed for this purpose and every solicitor will remit their collections at the end of the month to the Municipal Treasurer.
SECTION 5: That the Municipal Mayor shall appoint an Internal Auditor from among the Municipal, National officials and employees to act as Auditor of the Socio Economic Fund System.
SECTION 6: That the Municipal Treasurer should render a quarterly report to the Municipal Sangguniang Bayan for purpose of information and guidance to all the members of the Sangguniang Bayan.
SECTION 7: That the income of the Socio Economic Fund System will be used to finance any transactions of the government which will be beneficial to the interest and welfare of our people and the town in general.
SECTION 8: That any disbursement of the said fund will be approved by the Municipal Mayor after a careful study of the intention for the purpose of such fund release.
SECTION 9: That the fund will be used only wherein such funding or expenditures are not acceptable to the CCA rules and regulations in Auditing.
SECTION 10: That this ordinance takes effect upon approval.
SECTION 11: That any violations to the provisions of this ordinance shall be subject to disciplinary action of the Chief Executive.
After careful deliberation.
Approved: January 15, 1987
Let copies be furnished, the Municipal Treasurer, Maribooc, Bohol for appropriate action and implementation.
PHILIP R. MEDEQUISO
EULALIO CASTILLON, SR.
CONRADO REDULLA, JR.