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Section 1
Release of Funds
Section 1.
Release of Funds.
The Department of Budget and Management (DBM) is hereby authorized to release funds, in such amount as may be necessary, from the SAGF-151 of the DOE, to the implementing agency (IA) concerned, for purposes as may be authorized by the President of the Philippines:
Provided,
That the release of funds shall be subject to the following:
a. Request for release of funds by the IA;
b. Bureau of the Treasury (BTr) certification on the availability of funds deposited with the SAGF-151 of the DOE; and
c. Existing laws and budgetary, accounting and auditing rules and regulations.
Section 2
Implementing Agency
Section 2.
Implementing Agency.
The IA shall be responsible for the implementation of the programs and projects, and its disbursements/expenditures shall be subject to applicable laws and budgeting, accounting and auditing rules and regulations.
For recording purposes, the DBM shall authorize the IA to open and maintain a SAGF for the amounts released pursuant to this Executive Order (EO). In case the IA is a Local Government Unit, the SAGF shall be issued to DBM; and if the IA is a Government Owned or Controlled Corporation, the SAGF shall be issued to the BTr.
Section 3
Repealing Clause
Section 3.
Repealing Clause.
All EOs, rules, regulations and other issuances or parts thereof, which are inconsistent with the provisions of this EO, are hereby repealed or modified accordingly.
Section 4
Effectivity
Section 4.
Effectivity.
This EO shall take effect immediately.
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Done in the City of Manila, this 13th day of October, in the year of Our Lord, Two Thousand and Nine.
(Sgd.)
GLORIA MACAPAGAL-ARROYO
President of the Philippines
By the President:
(Sgd.)
EDUARDO R. ERMITA
Executive Secretary