Dads approve MOA on ATM payroll facility
Through separate ordinances, the 20th City Council on its regular session Monday presided over by Presiding Officer Pro Tempore Councilor Romeo V. Calizo, authorized City Mayor Rolando A. Uy to enter into and sign the Memorandum of Agreement (MOA) on ATM Payroll Facility with the Land Bank of the Philippines (LANDBANK) covering the implementation of the ATM Payroll Facility for permanent, contractual, casual and job order personnel of the City Government of Cagayan de Oro.
Likewise adopted was an ordinance authorizing the City Mayor to enter into and sign the MOA with the Land Bank of the Philippines covering the use of a 2-square meter area for the establishment of one (1) unit ATM Booth at the City Hall premises.
Under the MOU, the city shall establish and maintain a Payroll Fund Account which shall be subject to a monthly average daily balance of P2,500,000 and other applicable terms and conditions and provisions of the agreement.
It shall cause its personnel/employees, regardless of appointment of status, to open at LANDBANK-Capistrano Branch an ATM Payroll Account subject to an average maintaining balance requirement of one hundred pesos (P100.00) and other applicable terms and conditions.
It shall also advise LANDBANK in writing and seek approval for the addition of Payroll Accounts to be opened for its personnel/employees seven (7) banking days before the applicable payroll credit date, deposit Cash or On-Us Checks in the amount equivalent to its payroll for the month in the Payroll Fund Account and submit the original Payroll Register and copy of the Universal Serial Bus (USB), among others.
For its part, the LANDBANK shall exercise due care in the handling of the USB and debit the Payroll Fund Account and credit the individual LANDBANK ATM Payroll Account on the payroll date, among others.
The legislation was reviewed and endorsed by the committees on finance, budget and appropriations and on laws and rules chaired by Councilors Yan Lam S. Lim and Edgar S. Cabanlas, respectively.