DOF warns treasurers of LGUs

MANILA, Philippines - The Department of Finance will punish local treasurers who fail to electronically file their 2014 statement of receipts and expenditures (SREs) by the end of the month.

In its latest TaxWatch campaign, the DOF ordered the country’s 1,715 city, provincial and municipal treasurers to submit their year-end electronic financial reports  by March 31 or they face administrative sanctions.

For late filers, a written reprimand will be issued for a first offense.  A second offense will result in a suspension of one day to 30 days.  For the third offense, the action is dismissal from employment.

For inaccurate reports, the penalty for the first offense is  suspension of one month and one day to six months and dismissal from service for subsequent offense.

Local treasurers are required to file the first three quarterly reports on or before the 20th of the month following the end of the quarter, and the year-end report shall be submitted on or before March 31 of the subsequent calendar year.

According to the DOF, 79 percent or 1,347 of the 1,715 local treasurers failed to submit their 2013 year-end financial reports on time and 65 treasurers have still not submitted as of January this year.