By Prince Golez
President Rodrigo Duterte has signed measures extending the validity of the 2020 budget and the Bayanihan to Recover as One Act or Bayanihan 2.
Republic Act No. (RA) 11520 extends the validity of the availability of the 2020 General Appropriations Act to December 31, 2021.
“All appropriations authorized in this Act, including budgetary support to government-owned or -controlled corporations, shall be available for release and disbursement for the purpose specified, and under the same general and special provisions applicable thereto, until December 31,” it stated.
The amount appropriated as financial assistance to local government units released during the fiscal year will also be available for disbursement until year’s end.
Under the new law, all unreleased appropriations shall lapse, while unexpended or undisbursed funds shall revert to the unappropriated surplus of the General Fund and shall not be available for expenditure except for subsequent legislative enactment.
Meanwhile, RA 11519 gives the Duterte administration until June 30, 2021 to spend remaining funds from the country’s second coronavirus aid package.
The balances of fund transfers between agencies, instrumentalities and GOCCs which remain unused as of June 30 will revert to the unappropriated surplus of the General Fund, the law read.
It likewise prohibits agency outsourcing requests of agreements by agencies, instrumentalities and/or GOCCs with Philippine International Trading Corp