OCA CIRCULAR NO. 120-2005, November 23, 2005
OCA CIRCULAR NO. 120-2005, November 23, 2005
| TO: |
ALL CLERKS OF COURTS IN THE REGIONAL TRIAL COURTS, METROPOLITAN |
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SUBJECT:
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SUBMISSION OF REPORTS ON HIGH YIELD SAVINGS
ACCOUNTS |
allowed to be opened with the Land Bank of the Philippines for a minimum deposit
requirement of One Million Pesos (PI,000,000.00) from the fiduciary fund
deposits of the first and second level courts. However, records show that there
are Clerks of Court who failed to strictly comply with the aforementioned OCA
Circular.
In view hereof, all Clerks of Court/Accountable Officers are hereby directed
to submit a Report relative to the high yield savings deposits indicating
therein the following information:
a)Savings Account Number;
b) LBP Branch where the account is maintained;
c) Date of the initial placement of the account;
d) Monthly balance of the deposits;
e) Monthly interest earned on the deposits; and,
f) Date as to when the interest was deposited to the Judiciary Development
Fund Account.
The Report shall be submitted on or before the 20th day of December 2005 and
addressed to the Chief Accountant, Financial Management Office, Office of the
Court Administrator.
November 23, 2005.
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PRESBITERO J. VELASCO, JR.
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Court Administrator
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