What does it mean by “Maximum Cash Accountability” for purposes of Fidelity Bond?

[ad_1] Question: Hello po gabotaf, good evening. Accountable Officer is bonded as disbursing officer. Maximum cash accountbility po is 100,000 but the AO was given a cash advance of 120,000. What violation was committed? If error was done in good faith ( nakaligtaan na 100k pala ang max), ano po pwedeng remedies? Subject for disallowance […]

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Question: Hello po gabotaf, good evening.

Accountable Officer is bonded as disbursing officer. Maximum cash accountbility po is 100,000 but the AO was given a cash advance of 120,000.

What violation was committed?

If error was done in good faith ( nakaligtaan na 100k pala ang max), ano po pwedeng remedies?

Subject for disallowance po ba agad?

Thank you po.

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1 thought on “What does it mean by “Maximum Cash Accountability” for purposes of Fidelity Bond?”

  1. Anonymous

    IF AN DISBURSING OFFICER HAS PHP5,000,000.00 MAXIMUM CASH ACCOUNTABILITY AND THE DO HAS A TOTAL DISBURSED OF PHP16,000,000.00 IN A MONTH, OR PHP4,000,000.00 DISBURSEMENT WEEKLY FOR 4 WEEKS.
    IS THERE ANY VIOLATION IN EXCEEDING ON HIS ALLOWABLE MCA OF ONLY 5 MILLION?
    IS THERE A NEED TO INCREASED HIS MCA?
    THANK YOU FOR ANSWERING PO.

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