What is the fine for failing to post itemized monthly collections and disbursements of the LGU within the prescribed period?

The fine for failing to post itemized monthly collections and disbursements of the Local Government Unit (LGU) within the prescribed period is set at Php 500.00. This fine is established to encourage transparency and accountability in local government financial practices. By mandating the timely posting of these financial reports, it ensures that citizens can access information regarding how public funds are being collected and spent, contributing to good governance and public trust.

The specified amount serves as a deterrent against negligence in financial reporting, which is essential for maintaining the integrity of public administration. This regulation also highlights the importance of compliance among LGUs, as it plays a crucial role in financial management and oversight within local governments.