LETTER OF INSTRUCTIONS NO. 476, October 22, 1976

[ LETTER OF INSTRUCTIONS NO. 476, October 22, 1976 ]

REVERSION OF CERTAIN APPROPRIATIONS

TO: The Commissioner of the Budget The Chairman, Commission on Audit

Pursuant to the provisions of Presidential Decree No. 999 authorizing the reversion of dormant or unnecessary appropriations and in order to more fully allow the rational evaluation of outstanding appropriations, it is hereby directed that (1) all remaining balances of appropriations included in the attached list be reverted to the unappropriated surplus of the General Fund, effective immediately, (2) all equity investments in government corporations which are provided for General Appropriations Acts and which are not actually released during the fiscal period covered, be automatically reverted to the General Fund, and (3) the Commissioner of the Budget include in the yearly budgetary proposals amounts which may otherwise need to be funded by reverted appropriations.

Done in the City of Manila, this 22nd day of October in the year of Our Lord nineteen hundred and seventy six.

(Sgd ) FERDINAND E. MARCOS President of the Philippines