Allowing The Expenditure During The Period FromJanuary First ToJune Thirty, Nineteen Hundred And Seventy-Three, Of The Income Accruing To The General, Trust And Other Funds In The Philippin

MALACAÑANG
M a n i l a

PRESIDENTIAL DECREE No. 613 December 18, 1974

ALLOWING THE EXPENDITURE DURING THE PERIOD FROM JANUARY FIRST TO JUNE THIRTY, NINETEEN HUNDRED AND SEVENTY-THREE, OF THE INCOME ACCRUING TO THE GENERAL, TRUST AND OTHER FUNDS IN THE PHILIPPINE TREASURY DURING THE SAME PERIOD, AND FOR OTHER PURPOSES

WHEREAS, figures compiled by the National Accounting Service of the Budget Commission and as reconciled with those of the Commission on Audit, show that as of fiscal year of 1971-72 ended June 30, 1972, there was a deficit of P335,412,694.71 in the General Fund;

WHEREAS, pursuant to the provisions of Republic Act No. 992, otherwise known as the Revised Budget Act, a quarterly allotment system was established and designed to forestall deficit by keeping expenditures within the income;

WHEREAS, following the allotment system the collections at the beginning of the ensuing fiscal year will have to be applied first to wipe out the deficit of the previous fiscal year which, in effect, would paralyze the essential activities of the Government during...

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Summary of Presidential Decree No. 613

Deficit in the General Fund
- As of fiscal year 1971-72 ended June 30, 1972, there was a deficit of P335,412,694.71 in the General Fund. (Whereas clause)

Quarterly Allotment System
- Pursuant to Republic Act No. 992 (Revised Budget Act), a quarterly allotment system was established to prevent deficit by keeping expenditures within the income. (Whereas clause)

Paralysis of Government Activities
- Following the allotment system, collections at the beginning of the fiscal year would have to be applied first to wipe out the deficit of the previous fiscal year, effectively paralyzing essential government activities during the first quarter of the new fiscal year. (Whereas clause)

Authorization of Expenditures
- The expenditures made during the period from July 1 to December 31, 1973, pursuant to appropriations made by law prior to this Decree, of the income accruing to the general, special, trust, and other funds in the Philippine Treasury for the said period, are hereby authorized. (Section 1)
- Expenditures from special and trust funds shall be for the purposes for which said special and trust funds were created. (Section 1)

Repeal or Modification of Inconsistent Laws
- All laws, decrees, orders, rules and regulations or parts thereof inconsistent with this Decree are hereby repealed or modified accordingly. (Section 2)

Effectivity
- This Decree shall take effect immediately. (Section 3)