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FINANCIAL AND BUDGETARY PROBLEMS AFFECTING SCHOOL ADMINISTRATORS

RECEIPT AND COLLECTIONS/ DISBURSEMENT


OBJECTIVE
To define the receipts and collections / disbursement
The collection and disbursement system
To determine the laws and regulations

Cash Receipt and Collections

Disbursement
RECEIPT AND COLLECTIONS

Receipt refers to all cash inflow whether actual or constructive regardless of


source or purpose and whether pertaining to the agency or not.

It includes not only income or revenue actually collected but also trust
receipts, fund deposits, inter-fund and inter agency transfers and equity
contributions received by corporate agencies
(COA Memo 84-411).
SOURCES OF RECEIPTS AND COLLECTIONS
Subsidy income from the National Government
Subsidy from the central office
Subsidy from Regional office/Staff Bureau
Income from Government Service
Income from Grants and Donations
Refund of Cash Advance
Performance Bidders/Bail Bonds
Collections made on behalf of another agencies
Inter-agency transferred funds
THE COLLECTIONS SYSTEM
RECORD- CASH RECEIPT RECORDS
BOOKS OF ACCOUNT- CASH RECEIPT JOURNAL
CASH JOURNAL
GENERAL LEDGER
SUBSIDIARY LEDGER
REPORT
REPORT OF COLLECTION AND DEPOSITS
REPORT ON ACCOUNTABLE FORMS
POLICIES ON COLLECTIONS
All moneys and property officially received by a public officer in any capacity or upon
any occasion must be accounted for as government fund and government property
No payment of any nature shall be received by a collecting officer with out immediately
issuing an OR in acknowledgement thereof.
Official Receipt are designed to cover a particular kind of collection only and at no
instance shall temporary receipt be issued to acknowledge receipt of public funds.
POLICIES ON COLLECTIONS
Pre-numbered Official Receipts shall be issued in strict numerical sequence. All copies of
each receipt shall be exact copies or carbon reproduction in all aspect of the original
At no instance should money in the hands of the collecting officers be utilized for the
purpose of en-cashing private checks.
COMMON RULES ON INTERNAL CONTROL OVER CASH RECEIPT AND COLLECTIONS
The collecting officer should be familiar with the laws and regulations affecting his work.
He should not have access to or responsibility over the accounting records related cash.
Adequate records should be maintained and reports regularly submitted
Reconciliation of banking transaction should be done by persons other than those
responsible for the handling of cash received and deposited

COMMON RULES ON INTERNAL CONTROL OVER CASH RECEIPT AND COLLECTIONS


Control over cash, including remittances through mails, should be established
immediately once received, acknowledge with pre-numbered official receipts and
recorded promptly
Monthly report of accountability for the accountable forms should be prepared and
submitted by all accountable officers
No disbursement should be made from cash receipt unless specifically authorized
COMMON RULES ON INTERNAL CONTROL
OVER
CASH RECEIPT AND COLLECTIONS
Cash receipt should be deposited intact daily
Safes and other facilities should be provided to ensure protection of cash and unused
accountable forms
Surprise cash examinations should be made frequently by internal and external
auditors.
The collecting officer as well as his assistant should be adequately bonded.
THE DISBURSEMENT SYSTEM
RECORD
Cash Disbursement Records
Check Disbursement Records
BOOKS OF ACCOUNT
Check Disbursement Journal
Cash Disbursement Journal
General Ledger
Subsidiary Ledger
REPORT
Report of Checks Issued
Report of Disbursement
Petty Cash Replenishment Report
Liquidation Report
POLICIES ON DISBURSEMENT
Basic Requirements Applicable to all Types of Disbursements
Certificate of availability of fund
Approval of claim or expenditure by head of office or his duly authorized
representative
Submission of documents and other evidences to establish the validity and
correctness of the claim for payment
Conformity of the expenditure to existing laws and regulations
Proper accounting treatment
POLICIES ON DISBURSEMENT
Only permanently appointed officials and employees shall be granted cash advances
Only duly appointed or designated disbursing officer may perform disbursing functions.
Only one disbursing officer shall be assigned / designated for a specific legal purpose.
Transfer of cash advance from one accountable officer to another shall not be allowed
The cash advance shall be used for the specific legal purpose for which it was granted.
POLICIES ON DISBURSEMENT
No additional cash advance shall be allowed to any official or employee unless the
previous cash advance given to him is first settled or a proper accounting thereof is
made.

No cash advance shall be given unless for a legally authorized specific purpose. A cash
advance shall be reported on and liquidated as soon as the purpose for which it was
given has been served.
Cash advances granted for travel shall be accounted for as Due to Officers and
Employees which are subject to liquidation upon travel completion.
When a cash advance is no longer needed or has not been used for a period of two
months, the same should be returned to, or deposited immediately with the collecting
officer
POLICIES ON DISBURSEMENT
The AO shall liquidate his/her cash advance as follows:
Salaries, wages, etc. within 5 days after each 15 day/end of the month pay
period
Petty Cash Fund within 20 days after the end of the year, subject to
replenishment during the year
Foreign travel within 60 days after return to the Philippines
Local travel immediately upon completion of the official travel
All cash advances shall be fully liquidated at the end of each year
When no liquidation of the previous cash advance is received on or before January 20,
the Accountant shall cause the withholding of the AOs salary (COA Cir. 97-002)
POLICIES ON DISBURSEMENT
No officer or employee shall be granted a cash advance unless he/she is properly
bonded in accordance with law
Every official or employee authorized to travel abroad shall render an account of the
cash advances received by him within sixty (60) days after his return to the Philippines
COMMON RULES ON INTERNAL CONTROLOF DISBURSEMENT
The disbursing officer (DO) should be familiar with the laws and regulations
affecting his work. He should not have access to or responsibility over the
accounting records related to disbursement.
Adequate records should be maintained and reports regularly submitted
Officers authorized to sign checks should have no authority over the accounting
records or the custody of cash
COMMON RULES ON INTERNAL CONTROL OF DISBURSEMENT
Checks should be countersigned, the signing and countersigning of checks should
not be made in advance
Vouchers should be approved by one or more individuals other than the
disbursing officer
COMMON RULES ON INTERNAL CONTROL OF DISBURSEMENT
Vouchers and supporting papers should be stamped PAID upon payment
The disbursing officer as well as his/her assistants, should be bonded with the
Fidelity Bond Division of BTR

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