Reversion of excess amount after payment of honoraria for successfully completed procurement project
Any excess in the amount of authorized sources of funds for the payment of honoraria for successfully completed procurement projects shall be remitted by NGAs to the Bureau of the Treasury. In the case of GOCCs and LGUs, the same shall form part of their corporate or local government funds, respectively.
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Pursuant to the DOF-DBM-COA Permanent Committee Resolution No. 2005-2 dated June 2005, as quoted in DBM Budget Circular No. 2004-5A, all agencies are authorized to treat the collections from the authorized sources of funds to pay the honoraria for successfully completed procurement project identified in item 6.1 of said Budget Circular as trust receipts to be used as exclusively for the payment of honoraria and overtime pay therein authorized.
Agencies may utilize up to one hundred percent (100%) of the said collections for the payment of honoraria and overtime pay subject to the guidelines in item 5.0 of said Circular.
Any excess in the amount collected shall be remitted by NGAs to the Bureau of the Treasury. In the case of GOCCs and LGUs, the same shall form part of their corporate or local government funds, respectively.
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