ACCOUNTING | When do you issue a Certificate of Availability of Fund?
When do you issue a certificate of availability of fund? Is there a threshold in the issuance of this certification to government contracts?
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Pursuant to Section 86 of Presidential Decree (PD) No. 1445, except in the case of a contract for personal service, for supplies for current consumption or to be carried in stock not exceeding the estimated consumption for three months, or banking transactions of government-owned or controlled banks, no contract involving the expenditure of public funds by any government agency shall be entered into or authorized unless the proper accounting official of the agency concerned shall have certified to the officer entering into the obligation that funds have been duly appropriated for the purpose and that the amount necessary to cover the proposed contract for the current fiscal year is available for expenditure on account thereof, subject to verification by the
auditor concerned. The certificate signed by the proper accounting official and the auditor who verified it, shall be attached to and become an integral part of the proposed contract, and the sum so certified shall not thereafter be available for expenditure for any other purpose until the obligation of the government agency concerned under the contract is fully extinguished.
Thus, the proper accounting official issues CAF whenever the agency enters into a contract/obligation, for the sum/amount of money as approved by the agency/as approriated.
What if the Government Agency has a Finance Officer who is the head of accounting unit and budget unit..Who will certify on the availability of fund?