[ OCA CIRCULAR NO. 116-2008, November 24, 2008 ]

[ OCA CIRCULAR NO. 116-2008, November 24, 2008 ]

[ OCA CIRCULAR NO. 116-2008, November 24, 2008 ]

TO: Executive/Presiding Judges, Clerks of Court/Officers-in-Charge/ Accountable Officers of the First and Second Level Courts

SUBJECT:

Remittance of Interest Earned on Fiduciary/Sheriffs Trust Fund Deposits and Confiscated/Forfeited Bonds

The Honorable Court En Bane in its Resolution dated March 11, 2008 in A.M. No. 05-3-35-SC, resolved among others to:

x x x

b) DIRECT the CLERK OF COURT to implement the Order in the resolution of January 31, 2006 directing the Fiscal Management and Budget Office to comply with the Audit Memorandun, AOM No. 05- 008-101-(104) by remitting the interests earned on the Fiduciary Funds and forfeited/confiscated bonds to the Bureau of Treasury as contained in "Sec. 7, General Provisions of the General Appropriations Act, CY 2004."

In view of the aforesaid Resolution, the concerned accountable officers are hereby directed to accomplish and submit to the Fiscal Monitoring Division, Court Management Office, OCA the following:

1) Schedule I - Withdrawn/Remitted Interest Earned on Fiduciary/Sheriff's Trust Fund Deposited to Judiciary Development Fund;

2) Schedule II - Withdrawn/Remitted Interest Earned on Fiduciary/S he riff's TrustFund Deposited to Bureau of Treasury;

3) Schedule III - Unwithdrawn/Unremitted Interest Earned on Fiduciary/Sheriffs Trust Fund deposits;

4) Schedule IV- Withdrawn/Remitted Confiscated/Forfeited Bonds Deposited to Judiciary Development Fund '

5)Schedule V- With drawn/ Re milted Confiscated/Forfeited Bonds Deposited to Bureau of Treasury; and

6) Schedule VI - Unwithdrawn/Unremitted Confiscated/Forfeited Bonds

Attached are the forms to be accomplished for all interests earned on Fiduciary/Sheriffs Trust Fund deposits and confiscated/forfeited bonds remitted to the Judiciary Development Fund (JDF) on a yearly basis. Separate forms (also on a yearly basis) shall be prepared for interests remitted to the National Treasury. The schedules must be supported with proofs of transfer/remittance (official receipts and machine-validated deposit slips) to the JDF and/or National Treasury.

The High Yield Savings Account (HYSA) and Time Deposit Account being maintained by the Lower Courts shall now be terminated and only Fiduciary/Sheriff's Trust Fund Savings and/or Current Account(s) shall be maintained with the authorized government depository bank.

Strict compliance is hereby enjoined.

24 November 2008.

JOSE P. PEREZ

Court Administrator