Republic Act No. 7226: An act requiring the commission on audit to submit to congress annual reports of amounts obligated, warrants issued, and expenditures made in each municipality, province, and city by national government agencies, and instrumentalities, including government-owned corporations, and for other purposes

Republic Act No. 7226

An act requiring the commission on audit to submit to congress annual reports of amounts obligated, warrants issued, and expenditures made in each municipality, province, and city by national government agencies, and instrumentalities, including government-owned corporations, and for other purposes

AN ACT REQUIRING THE COMMISSION ON AUDIT TO SUBMIT TO CONGRESS ANNUAL REPORTS OF AMOUNTS OBLIGATED, WARRANTS ISSUED, AND EXPENDITURES MADE IN EACH MUNICIPALITY, PROVINCE, AND CITY BY NATIONAL GOVERNMENT AGENCIES, AND INSTRUMENTALITIES, INCLUDING GOVERNMENT-OWNED CORPORATIONS, AND FOR OTHER PURPOSES

In plain language

This Republic Act mandates the Commission on Audit (CA) to submit annual and quarterly reports of amounts obligated, warrants issued, and expenditures made by national government agencies and instrumentalities for each municipality, province, city, and province-wide. Reports are due within 120 days after the fiscal year-end and the Act takes effect 15 days after publication in at least two newspapers.

Requires CA to submit annual reports of amounts obligated, warrants issued, and expenditures for each municipality, province, city, and agency/instrumentality of the National Government.

Includes quarterly data during the fiscal year in the reports.

Reports must be submitted within 120 days after the fiscal year-end.

Act takes effect 15 days after publication in at least two newspapers.

Finance

Audit

Legislation

Republic Act

Government Accountability

[ REPUBLIC ACT NO. 7226, March 06, 1992 ]

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

Section 1

In addition to the financial reports required by existing law to be submitted to Congress, the Commission on Audit shall submit an annual report of the amounts obligated, treasury and funding warrants issued, and expenditures made every quarter during the fiscal year for each municipality, province, and city by all agencies and instrumentalities of the National Government, including government-owned corporations.

The annual report shall also contain the same data for each agency and instrumentality of the National Government, including government-owned corporations, by province and highly urbanized city.

Section 2

The annual financial reports herein required shall be submitted to Congress within one hundred twenty (120) days after the end of every fiscal year.

Section 3

This Act shall take effect fifteen (15) days after its publication in at least two (2) newspapers of general circulation.

Approved,

NEPTALI A. GONZALES

President of the Senate

RAMON V. MITRA

Speaker of the House of Representatives

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This bill which originated from the Senate was finally passed by the Senate and the House of Representatives on May 26, 1989 and February 3, 1992, respectively.

ANACLETO D. BADOY, JR.

Secretary of the Senate

CAMILO L. SABIO

Secretary General House of Representatives

Approved: March 12, 1992

CORAZON C. AQUINO

President of the Philippines

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.