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Requisites and Procedures Prior to the Execution of the Financial Transactions by the Barangays 

With the recent election and proclamation of the winning candidates as a result of the October 30, 2023 Barangay and Sangguniang Kabataan Elections, the Department, anticipates that a number of elected Punong Barangays will be serving for the first time or First (1st) Termer Punong Barangays. Along with other barangay officials, they need to start complying with the requisites under the existing laws, rules and regulations, before they can officially transact business and/or disburse their respective funds.

In this connection, DILG Memorandum Circular No. 2023-166 dated October 31, 2023, provides among others, guidance on the transition period not to exceed three (3) weeks to ensure proper and smooth transition of governance, accountabilities and actual turnover of Barangay and Sangguniang Kabataan Properties, Financial Records, Documents and Money Accountabilities, and to secure/comply with the bonding requirements and other requisites under the existing laws, rules and regulations.

To facilitate the immediate completion of the necessary requirements for the fidelity bonding, all 1st Termer Punong Barangays and the Barangay Treasurer are directed to comply with the relevant provisions of Treasury Circular No. 02-20091 dated August 6, 2009 relative to the application of the bond.

Legal Bases / References

• Advisory 2023.11.15 Relevant Information on the Requirements and Procedures of the Bureau of the Treasury on the Processing of the Fidelity Bond Application by the Concerned Barangay and SK Officials

• MC 2023 - 170 Requisite and Procedures Prior to the Execution of the Financial Transactions by the Barangays