New policy enables better monitoring of public school funds
Janvic Mateo (The Philippine Star) - October 31, 2019 - 12:00am

MANILA, Philippines — The government has adopted a new policy that will enable better monitoring and secure the process of the release of funds to over 42,000 public elementary and high schools nationwide.

The Department of Budget and Management, Department of Education (DepEd) and Commission on Audit (COA) have issued a joint circular mandating the so-called non-implementing unit schools to open bank accounts where they will receive cash advances for their maintenance and other operating expenses (MOOE).

Non-implementing unit schools are those that do not receive allotment directly from the DBM and instead get funding through cash advances from the school division offices.

Budget data showed that the over 42,000 non-implementing unit schools have been allotted P4 billion in MOOE this year.

Under the present setup, school heads receive the advances in cash from the division offices for their MOOE requirements.

With the new policy, the money will instead be released to the schools’ bank accounts, enabling better monitoring on the part of the COA.

Education Secretary Leonor Briones said the creation of the bank accounts would also give the schools a chance to manage their cash advances more securely.

Last week, the DepEd signed separate memoranda of agreement with the Development Bank of the Philippines, Land Bank of the Philippines and Philippine Veterans Bank to allow the schools to open bank accounts.            

COA DEPED MOOE
Philstar
  • Latest
Latest
Latest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

FORGOT PASSWORD?
SIGN IN
or sign in with