Attached herewith is the Memorandum dated July 29, 1998 of Director Lourdes Z. Santiago of the Department of Finance endorsing the Memorandum Circular No. 1 dated July 2, 1998 entitled "ENJOINING THE DISCLOSURE OF ALL FINANCIAL TRANSACTIONS AND CONTRACTS."

For your information and guidance.

Adopted: 11 Aug. 1998



Enjoining the Disclosure of all Financial Transactions and Contracts

In order to help the new administration undertake measures necessary for the effectiveness and efficiency of government operations, the heads of all department, bureaus, offices and agencies, including government-owned and controlled corporations and their subsidiaries, shall make a full disclosure of all financial transactions and contracts, whether pending, approved or completed, entered into by their respective offices for the period of six (6) months preceding June 30, 1998.

A complete report to the President through the Executive Secretary shall be made within fifteen (15) days from issuance of this circular.

For compliance.