Scribd Logo
Upload

Welcome to Scribd!

  • 35 views

    MOA SK Funds

    Uploaded by

    Iinday Anrym

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd

    MOA SK Funds

    Uploaded by

    Iinday Anrym
    35 views3 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    DOC, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    35 views3 pages

    MOA SK Funds

    Uploaded by

    Iinday Anrym

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3

    Republic of the Philippines

    Province of Cebu
    Municipality of BORBON
    BARANGAY BINGAY
    6008

    MEMORANDUM OF AGREEMENT

    KNOW ALL MEN BY THESE PRESENT:

    This Memorandum of Agreement, made and entered into by in between the Sangguniang
    Kabataan Council of Barangay Bingay, Borbon, Cebu represented by HON. MA. STELLA
    A. SUMAYANG (Sangguniang Kabataan Chairperson) and HON. NACIANSINA S.
    CATUBIG (Punong Barangay) of Sangguniang Barangay Council of Barangay Bingay.
    Borbon, Cebu 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 the Appropriation, 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 aside for the SK. The
    Sangguniang Barangay shall appropriate the SK Funds in lump-sum, which shall be
    disbursed solely for youth development and empowerment purposes. Furthermore, Section
    20(b) of the same law provides that the SK shall have a 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
    âJMC 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 holdback 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 in the current account of the SK not later than ten (10) working
    days after the crediting of the monthly National Tax 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 ten (10) 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 Transitory Provision 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 Bingay. Borbon, Cebu


    shall do and execute the following:
    i. 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 holdback 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. It is
    understood that after informing all the Sangguniang Barangay Officials during regular
    session transferred of SK Continuing Fund amounting Four Hundred Fifty One
    Thousand ( ₱ 451,000.00) should be done not later than fifteen (15) working days after
    the said session.

    ii. Transfer/Release/Deposit of the ten percent 10% of the General Fund of the Barangay
    in the current account of the SK not later than Ten (10) working days after the crediting
    of the Monthly NTA share of the Barangay. The exact and Agreed date of
    Transfer/Release/Deposit of SK Fund shall be subject to Quarterly Basis, it must be
    deposited on every 10th 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. The total amount of SK Annual Share from the NTA o f this Year is Two
    Hundred Eighty Thousand Six Hundred Forty One and Ninety Two Centavos ( ₱
    280,641.92) which is approximately Seventy Thousand One Hundred Sixty and Forty
    Six Centavos ( ₱ 70,160.46) per quarter which shall be transferred to the SK
    Account Name: BARANGAY BINGAY BORBON CEBU SK with Account No:
    002492-1081-81 every 25th day after the end of each quarter;

    iii. Transfer/Release/Deposit of the 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 fifteen (15) working days after the end of the quarter.

    2. That the both parties have read and understood all the terms and conditions and
    agreed to the same without reservation.

    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 6th day of
    JANUARY 2023 at Bingay, Borbon, Cebu.

    HON. NACIANSINA S. CATUBIG HON. MA. STELLA A. SUMAYANG


    Punong Barangay Sangguniang Kabataan Chairperson
    CTC No.: 26362824 CTC NO. ________________
    ISSUED ON: 2/12/2023 ISSUED ON.______________
    ISSUED AT: Borbon, Cebu
    Signed & Attested by the Majority of Sangguniang Kabataan Member:

    Hon. ROYETTE K. SERAFIN Hon. JONIL C. BRIAN


    SK Councilor SK Councilor

    Hon. MARVIN R. MONTEJO Hon. FARES Y. IMPAS


    SK Councilor SK Councilor

    Hon. RIGLER M. VILLACENCIO Hon. ISRAEL N. SUMAYANG


    SK Councilor SK Councilor

    Hon. JOHN M. SALOGAOL


    SK Councilor

    Signed & Approved by the Majority of Sangguniang Barangay Member:

    Hon. TITA M. SOLLANO Hon. ELENITA V. RIVERA


    Education BAC/Women’s/Senior Citizen/Solo Parents
    & PWD

    Hon. ALPIO Y. MONTEJO Hon. TEODORO C. MODEQUILLO, JR.


    Agriculture Peace and Order

    Hon. JILOMER B. BLANQUERO Hon. CARMEN A. BRIAN


    CCA / Finance Health

    Hon. FRANCISCO M. HORTEZUELA Hon. MA. STELLA A. SUMAYANG


    Infrastructure Youth and Sports

    You might also like