Presidential Decree No. 1374 (PD 1374) — Authorizing the Reversion to the General Fund of Dormant or Unnecessary Special and Fiduciary Funds
WHEREAS, the proper allocation of government resources calls
for the comprehensive review of government planning objectives and priorities,
in conjunction with aggregate receipts and resources;
WHEREAS, the earmarking for specific purposes of proceeds
from taxes, imposts or other revenues of government, tends to frustrate a
comprehensive review of priorities and resources available;
WHEREAS, the initial operation and the implementation of
certain priority activities may justify the creation of Special or Fiduciary
Funds for a specified period of time;
WHEREAS, the transfer of dormant or unnecessary Special and
Fiduciary Funds to the General Fund would facilitate the implementation of
social economic programs and projects which will benefit and improve the welfare
of the masses.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers vested in me by the Constitution, do hereby
Order and Decree:
Statement of Policy.
SECTION 1. Statement of Policy.—All revenues of
government shall accrue to the General Fund and thus be made available to
support approved priority programs and projects. Earmarking of proceeds of
special imposts, taxes, or other sources of revenues for specific uses is
discouraged. Exceptions shall be made only in those cases where, for
administrative or other reasons, earmarking of proceeds may be justified to
support a major priority project with substantial funding requirements for a
specified period of time.
SEC. 2. Abolition of Special and Fiduciary Funds.
The President is authorized to abolish dormant or unnecessary Special or
Fiduciary Funds and transfer all assets, liabilities, surpluses and
appropriations pertaining thereto, to the General fund of the national
government. The operations of all Special and Fiduciary Funds shall be reviewed
by the Secretary of Finance, the Commissioner of the Budget and the Chairman of
the Commission on Audit. They shall recommend to the President the abolition of
Funds which are found to be dormant, or whose basis for creation no longer
exists, or whose purposes are provided for by appropriations of the General
Fund, thus rendering the said Special or Fiduciary Funds unnecessary.
SEC. 3. Rules and Regulations. The Secretary of
Finance, the Commissioner of the Budget, and the Chairman of the Commission on
Audit shall recommend for the approval and the issuance by the President, rules
and regulations for the effective implementation of the provisions of this
Decree.
SEC. 4. Repealing Clause. All existing laws,
decrees and letters of instructions, as well as rules and regulations, which are
inconsistent within the provisions of this Decree are hereby repealed and/or
modified accordingly.
SEC. 5. Effectivity. This Decree shall take effect
immediately.
Done in the City of Manila, this 16th day of May, in the year of Our Lord,
nineteen hundred and seventy-eight.
(Sgd.) FERDINAND E. MARCOS
President of the
Philippines
By the President:
(Sgd.) JUAN C. TUVERA
Presidential Assistant
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
