AN ORDINANCE ON AUGMENTATION OF FUNDS IN EVERY DEPARTMENT OR OFFICE OF THE LOCAL GOVERNMENT OF MARIBOJOC, BOHOL
Authored by : MASS MOTION
WHEREAS, it has been a practice in the Local Government of Maribojoc, Bohol to augment funds in the different departments or offices when there is a need to augment funds for other purposes;
WHEREAS, augmentation of funds can be done in a particular office when there is a saving of a certain item which remain unexpended for an item not implemented by the Head of Office of a particular department or office;
WHEREAS, it is a duty of the Sangguniang Bayan to ensure a sound fiscal plan and to optimize the utilization of resources within the Local Government Offices and Departments;
WHEREAS, the LGU-Maribojoc endeavors to have a balanced budget in each fiscal year operation;
WHEREAS, augmentation of funds must be done only from sources expressly authorized by law or ordinance and appropriation of the same at all times be acknowledged properly;
WHEREFORE, be it resolved by the Sangguniang Bayan of Maribojoc, Bohol in their session duly assembled, that:
SECTION 1 – Definition of Terms.-:
a.) Augmentation – An increase or addition
b.) Fund – A sum of money or stock of convertible wealth employed in.
SECTION 2 – Every department or office in the LGU-Maribojoc, Bohol has a privilege
to augment funds from savings or unexpended funds of a certain item or items which are not implemented by an office of the LGU-Maribojoc.
SECTION 3- Augmentation of funds will be applied in writing by the Head of Office of
a particular office when there is an urgent need for such augmentation of funds for the good of the LGU-Maribojoc, Bohol.
SECTION 4 – The Augmentation of funds shall be approved by the Local Chief
Executive of Maribojoc, Bohol.
SECTION 5 – Separability Clause: Any issuances, Executive Order, Resolution and
Ordinance which are in conflict with this ordinance are hereby amended and repealed accordingly.
SECTION 6 – Effectivity- This ordinance shall take effect upon approval.
Approved : October 26, 2007
I HEREBY CERTIFY TO THE CORRECTNESS OF THE ABOVE QUOTED ORDINANCE:
ENGR. GABINO C. REDULLA
ERLINDA V. CASTILLON
Acting Secretary to the Sanggunian
LEONCIO B. EVASCO, JR.
Date signed: October 26, 2007