City Hall opens applications for monetization of leave credits

CEBU, Philippines – Cebu City Hall offers monetization of leave credits of regular and casual employees.

Assistant city treasurer Emma Villarete said that starting next week they are already accepting applications for monetization of five days leave credits for every year of service.

The five days will be taken from the vacation leaves of the employee for every year.

Monetization is according to the daily rate multiplied by five days.

Villarete added that for this year, the city included P7-million fund solely for the monetization of leave credits, a practice they started in the last two years.

Monetization of leave credits is practiced to save the government from paying voluminous amount in one instant or upon resignation of the employee.

An employee earns 2.5 points leave credits for every month; 1.25 for sick leave, and 1.25 for vacation leave which give a total of 30 days all in a year both sick and vacation leaves.

Section 23 of the Omnibus Rules on Leave, according to the Civil Service Commission, stated that monetization of fifty percent of all the accumulated leave credits may be allowed for valid and justifiable reasons subject to the discretion of the agency head and the availability of funds.

Even the sick leaves are allowed to be monetized provided vacation leaves are already exhausted.

There are 5,000 regular and casual employees under the Cebu City government. — Ferliza C. Contratista/MEEV (THE FREEMAN)