Section 24Sec./Art. 24

Appropriations and funding.

1. The amount of appropriations for the annual operating expenses of the Commission, including the salaries, allowances and other emoluments of all its officials and employees and its central and regional offices as well as in the auditing units in the various national and local government agencies, including government-owned or controlled corporation, shall be included in the annual general appropriations law. The usage of these funds shall be government by the general appropriations and other budget laws;

2. All government-owned or controlled corporations, including their subsidiaries, and self-governing boards, commissions, or agencies of the government shall appropriate in their respective budgets and remit to the National Treasury an amount at least equivalent to the appropriation for the salaries and allowances of the representative and staff of the Commission during the preceding fiscal year;

3. A maximum of one-half of one per-centum (1/2 of 1%) of the collections from national internal revenue taxes not otherwise accruing to Special Funds or Special Accounts in the General Fund of the National Government, upon authority from the Minister (Secretary) of Finance, shall be deducted from such collections and shall be remitted to the National Treasury to cover the cost of auditing services rendered to local government units;

4. The amount estimated to be earned as a result for the assessments on government-owned or controlled corporations, local government units, and other agencies as provided for in this Section shall be taken into consideration in the preparation of the annual budget of the Commission, in accordance with pertinent budget laws. The General Appropriations law shall provide each year for the cost of Commission operations as may be supported by available funds, in order to meet the audit requirements of national and local government units and of government-owned or controlled corporations and other agencies covered by this Code.

CHAPTER 2

JURISDICTION, POWERS AND FUNCTIONS OF THE COMMISSION