Executive Order No. 292 [BOOK V/Title I/Subtitle B/Chapter 9-Accountability and Responsibility for Government Funds and Property]


Accountability and Responsibility for Government Funds and Property

SECTION 50. Accountable Officers; Board Requirements.—(1) Every officer of any government agency whose duties permit or require the possession or custody government funds shall be accountable therefor and for safekeeping thereof in conformity with law; and

(2) Every accountable officer shall be properly bonded in accordance with law.

SECTION 51. Primary and Secondary Responsibility.—(1) The head of any agency of the Government is immediately and primarily responsible for all government funds and property pertaining to his agency;

(2) Persons entrusted with the possession or custody of the funds or property under the agency head shall be immediately responsible to him, without prejudice to the liability of either party to the Government.

SECTION 52. General Liability for Unlawful Expenditures.—Expenditures of government funds or uses of government property in violation of law or regulations shall be a personal liability of the official or employee found to be directly responsible therefor.

SECTION 53. Prohibition Against Pecuniary Interest.—No accountable or responsible officer shall be pecuniarily interested, directly or indirectly, in any contract or transaction of the agency in which he is such an officer.

Executive Order No. 292