DO 4, s. 2005 – Creation of a DepED Provident Fund Sinking Fund and its Operational Guidelines
February 3, 2005
DO 4, s. 2005
Creation of a DepED Provident Fund Sinking Fund and its Operational Guidelines
Directors of Services/Centers and Heads of Units
Schools Division/City Superintendents
- Pursuant to Resolution Nos. 3 and 8, s. 2004 of the National Board of Trustees of the DepED Provident Fund, a sinking fund is hereby created and its operational guidelines are hereby issued.
- The sinking fund aims to improve the collection efficiency of the regional offices and the Central Office by writing off the bad debts or doubtful accounts that are being incurred by these offices in the course of implementing the Provident Fund. It also aims to eventually eliminate the requirement of a co-maker who is usually and unjustly made to shoulder the burden of paying the outstanding loan obligations of the principal borrower in the event of the latter’s untimely separation from the service.
- Effectivity of the sinking fund shall be June 1, 2004.
- Enclosed are the operational guidelines for the sinking fund, including the priorities and procedures for its application.
- Immediate and wide dissemination of this Order to all concerned is desired.
Encl.: As stated
Reference: DepED Order: No. 12, s. 2004
Allotment: 1—(D.O. 50-97)
To be indicated in the Perpetual Index under the following subjects:
RULES & REGULATIONS