Donations.
Section 7
SEC. 7. Donations.—Ministries, bureaus, offices, or agencies are authorized to accept donations, contributions, grants, bequests or gifts, in cash or in kind from foreign governments, international agencies, private entities or individuals for purposes relevant to their functions. Cash proceeds shall be deposited with the National Treasury as a Special Account in the General Fund and shall be used or expended only in accordance with the wishes of, and purposes specified by the benefactor or donor, subject to Section 40 of P.D. No. 1177. Contributions or gifts in kind intended for specified beneficiaries, but which are perishable in nature and would require storage or distribution expenditures of more than forty per cent of their current market value may be sold at public auction and the proceeds derived therefrom shall be deposited in like manner as if they were in cash, and shall be used or expended for the same purpose, subject to the conditions imposed by the donor and Section 40 of P.D. No. 1177. All such receipts, including equipment and other fixed assets shall be recorded in the books of the government and shall be subject to pertinent accounting and auditing rules and regulations. The agency concerned shall submit to the Office of Budget and Management and to the Commission on Audit quarterly/monthly report of the proceeds from such donations, contributions, grants, bequests or gifts, in cash or in kind, including a quarterly report of expenditures or disbursements thereof.