DILIMAN CASH OFFICE:


  Cash Office is the deputized office representative of the National Treasury of the Philippines.  In pursuant of this,  it is tasked of performing  fiscal matters specifically collection of income or monies accruing to the university and payment of its monetary obligations such as salaries, wages, allowances, honoraria to its personnel, stipend to the students and to suppliers of goods and services.

 

Collection of Income

Sources of Income
  • National Government Subsidy
  • Tuition Fees of Students
  • Sales of Goods and Services
  • Operation of Physical Facilities
  • Land Grants and Extension Services
  • Trust Receipts
Rules and Regulations Governing Collection and Utilization of Cash
  • Official receipt must be issued immediately
  • Collection must be deposited intact to the authorized depository bank
  • Collection must not be used for payment of expenditures
  • The Agency Head is responsible for the accounting of all income
  • Cash collection is subject to frequent random audit by the COA
  • The persons authorized to collect must render cash reports
  • The persons authorized to collect must maintain a cash book
  • Persons whose cash accountability exceeds P 1,999 must be bonded
  • No new requisition of Official Receipt is allowed unless the previous requisition is already used up

 

Disbursements

  • Rules and Regulations Governing payment of University Obligations
  • Payment of Salaries
  • Payment of Supplies, Materials, Equipment and Construction
  • Reports and Records of Disbursements

 

Short-Term Investments

By virtue of Executive Order No. 714, the University was granted the authority to manage and control its affairs specifically those pertaining to fiscal matters. The University is allowed to keep/deposit its income in a bank account maintained at PNB, instead of depositing it at the Bureau of the Treasury. The DBM remits to U.P. cash allocations on a quarterly basis, thus, giving the University the opportunity to invest temporarily unused portions of its cash budget on higher-yielding secured investment/placement at the authorized government deposity bank.

    The interest earned on investment is used as follows:
  • 20% is set aside for the purpose of increasing capital for investment.
  • 80% can be spent as authorized by the Board of Regents.
    Some of the uses are as follows:
  • Faculty Development
  • Honoraria/Allowances
  • Financial Benefits
  • MOE Augmentation

 

Custodian of Cash

Cash Office remits cash to autonomous campuses. This is done through direct issuance of funding checks or through telegraphic transfer.

 

Cashiering Accountability

The Director of the Cash Office or any employee whose position entails handling of cash is responsible for its accounting. It is the duty of that employee to tkae reasonable steps to minimize the risk of losses and irregularities.

The head of unit recommending payment of any disbursement subsequently suspended or disallowed by COA is secondarily liable for it.

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