Moa SK Fund

Republic of the Philippines
Province of La Union
Municipality of SAN JUAN
Baranga Panicsican
KNOW ALL MEN BY THESE PRESENT:

This Memorandum of Agreement, made and entered into by in between the
Sangguniang Kabataan Council of Barangay Panicsican, San Juan , La Union represented
by HON. KIMBERLY SHAE C. RAGURO (Sangguniang Kabataan Chairperson) and
HON. ALEJANDRINO A. MORLA (Punong Barangay) of Sangguniang Barangay
Council of Barangay Panicsican, San Juan , La Union for the purposes of
Transfer/Release/Deposit of the 10% of the General Fund of the Barangay to the current account of
the SK under Joint Memorandum Circular (JMC) No. 1. s 2019 dated January 23,2019 by the
Department of Budget and Management(DBM), Department of the Interior and Local
Government(DILG) and National Youth Commission (NYC) on the Guidelines on
theAppropriation, Release, Planning and Budgeting Process for the SK Funds.
WHEREAS, Section 20(a) of the SK Reform Act of 2015 (Republic Act {RA}
No.10742), ten percent (10%) of the general fund of the Barangay shall be set
asidefor the SK. The Sangguniang Barangay shall appropriate the SK Funds in
lump-sum, which shall be disbursed solely for youth development and
empowermentpurposes. Furthermore, Section 20(b) of the same law provides
that the SK shall have “Financial Independence” in its operations,
disbursements, and encashment of their fund, income and expenditures.
WHEREAS under 3.2 Release of the SK Fund by the Barangay

in which prescribed by this “JMC No. 1, s. 2019”; 3.2.1 The SK Funds shall be
automatically released by the Barangay to the SK, and shall not be subject to any
lien or hold back that may be imposed by the Barangay for whatever
purpose;3.2.2 Consistent with Section 20(b) of RA No. 10742, the SK shall open a
current account in the name of the SK in a bank, preferably government-owned,
situated in or nearest to its area of jurisdiction, with the SK Chairperson and the
SK Treasurer as the official signatories. For efficiency and economy purposes, it
is strongly encouraged for the SK to open and maintain a depository account in
the same bank and branch of its Barangay. In the opening of account , the
provisions of Department of Finance Department circular No. 1-2017 dated May
11,2017 shall be strictly observed; 3.2.3 The SK Funds shall be deposited by the
Barangay inthe current account of the SK not later than five (5) working days
after the crediting of the monthly Internal Revenue Allotment (IRA) share of the
Barangay consistent with the rules and regulations issued by the Commission on
Audit(COA). For all the other income accruing to the General Fund of the
Barangay, the corresponding SK Funds shall be deposited not later than five (5)
working days after the end of the month. The Barangay may opt to
transfer/release the SK funds earlier than herein prescribed on annual, semestral
or quarterly basis,subject to the written agreement between the Barangay and
the SK. Failure by the Barangay to release any amount of the SK Fund shall
subject the erring officials to penalties under existing laws.
WHEREAS on 4 . 0 T r a n s i t o r y P r o v i s i o n
of this JMC, All undisbursed SK Funds as of December 31, 2018 under the
custody of the Barangay shall be transferred to:
The current account of the SK. The Utilization thereof shall be subject to subsequent
planning and budgeting by the SK, in accordance with the policies and procedures
prescribed by this JMC.
NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:
1. That the Sangguniang Barangay Council of Barangay Panicsican, San Juan, La

Union shall do and execute the following:


 Transfer/Release/Deposit of all the remaining balances prior on the return of SK
on the specific year 2013 up to December 31, 2018 in lump-sum as indicated by
the JMC which shall not be subject to any lien or hold back that may be imposed
by the barangay. It is very strictly emphasized that upon opening of account of
the SK and upon properly introduce to the Sangguniang Barangay Regular
Session the proceed of transfer of its all remaining Fund must be observed and
properly executed.
 Transfer/Release/Deposit of the percent 10% of the General Fund of the

Barangay in the current account of the SK not later than five (5) working days
after the crediting of the Monthly IRA share of the Barangay. The exact and
Agreed date of the Transfer/Release/Deposit of the SK Fund shall be subject to
Monthly Basis, it must be deposited on every 5th day of the month unless the
indicated day are (a) holidays or (b) non working days the execution will be
subject after on those future concern dates.
 Transfer/Release/Deposit of the percent 10% of all the other regular and Income
accruing to the General Fund of the Barangay. The corresponding SK Share shall
be deposited not later than (5) working days after the end of the month.
2. That the both parties have read and understood all the terms and conditions and
agreed to the same without reservatio9n.
In witness whereof the parties hereto have caused this Agreement to be executed in
accordance with the laws of the Republic of the Philippines, signed this __ day of
______ at Barangay Panicsican, San Juan, La Union.
HON. ALEJANDRINO MORLA HON. KIMBERLY SHAE C. RAGURO

Punong Barangay SK Chairperson
CTC NO. _________________ CTC NO. _________________
ISSUED ON: ISSUED ON:

Moa SK Fund

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Republic of the Philippines

KNOW ALL MEN BY THESE PRESENT:

WHEREAS under 3.2 Release of the SK Fund by the Barangay

NOW THIS AGREEMENT WITNESSETH AS FOLLOWS:

1. That the Sangguniang Barangay Council of Barangay Panicsican, San Juan, La

 Transfer/Release/Deposit of the percent 10% of the General Fund of the

HON. ALEJANDRINO MORLA HON. KIMBERLY SHAE C. RAGURO

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