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.

• Number: Presidential Decree No. 613
• Sections: 4

Preamble

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 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 forestal 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 the

first quarter of the new fiscal year;

WHEREAS, it is clearly in the public interest that the said

deficit of P335,412,694.71 incurred during the fiscal year 1972 which

ended June 30, 1972, should be blocked to enable the Government to use

the collections during the initial period of fiscal year 1973 to cover

the expenditures previously authorized by law instead of applying the

said collections to wipe out the deficit of the previous year;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the

Philippines, by virtue of the powers in me vested by the Constitution,

do hereby decree and order the following:

Section 1

SECTION 1. The expenditures made during the period from July

first to December thirty-first, nineteen hundred seventy-three 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 is hereby authorized: Provided,

however. That the expenditures from special and trust funds for

the period shall have been made solely for the purposes for which said

special and trust funds were created.

Section 2

SEC. 2. All laws, decrees, orders, rules and regulations or

parts thereof inconsistent herewith are hereby repealed or modified

accordingly.

Section 3

SEC. 3. This Decree shall take effect immediately.

Done in the City of Manila, this 18th day of December, in the year

of Our Lord, nineteen hundred and seventy-four.

(Sgd.)

FERDINAND E. MARCOS

President of the Philippines

By the President:

(Sgd.)

ALEJANDRO MELCHOR

Executive Secretary