In order to ensure the availability of cash resources for priority development projects and at the same time to establish a better rationale for recommending the level, type and timing of public borrowing, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby promulgate the following rules and regulations governing the institution of an operational cash budget to supplement the present budget system:

1. The Treasurer of the Philippines shall prepare a monthly estimate of cash inflow into the Treasury indicating probable sources and funds to which they accrue and shall submit such estimates at least 20 days before the beginning of each quarter to the Budget Commission;
   
   
2. In submitting the financial work plan and request for allotment to the Budget Commission, every agency shall indicate therein the cash requirements of the agency during the corresponding quarter, broken down into weekly schedule of required cash disbursements;
   
   
3. The Budget Commission shall carefully review the monthly and weekly cash disbursement requirements of the agencies to properly relate such total cash disbursement requirements with the estimated total cash inflow in the Treasury. In the same manner and in the same document that the Budget Commission releases the advice of allotment to any agency for the purpose of establishing the obligational authority of the agency, the Budget Commission shall release to the same agency its authorized cash disbursement ceiling for the corresponding quarter, broken down into weekly basis, furnishing the resident representative of the Auditor General a copy of the advice of allotment which it has released to any agency to the Treasury. Cash disbursements of agencies shall be limited as to amount and shall be timed as prescribed in the cash disbursement ceiling authorized by the Budget Commission;
   
   
4. The representative of the Auditor General shall not countersign any treasury warrant, check of expense voucher if the disbursement contemplated therein will exceed the cash disbursement ceiling authorized and outside the time schedule for such disbursements;
   
   
5. The Budget Commissioner shall submit to the Presidential Developmental Budget Committee the Cash Budget to enable the Committee to make adjustments therein if necessary and to recommend borrowings to cover projected cash deficiencies if such eventualities are expected to occur.

Done in the City of Manila, this 14th day of May, in the year of Our Lord, nineteen hundred and seventy.


By the President:

(Sgd.) ALEJANDRO MELCHOR
Acting Executive Secretary