COMMISSION ON AUDIT MEMORANDUM NO.

91-733 October 2, 1991

TO : All COA Directors/Officers-in-Charge, Auditors, Heads of Auditing Units, National,

Local and Corporate, and all others concerned.

SUBJECT : Implementing Guidelines Governing the Monetization of Leave Credits of

Government Officials and Employees.

Pursuant to the Joint Civil Service Commission and Department of Budget and
Management Circular No. 1, s. 1991, regarding the monetization of leave credits, the following
guidelines are hereby prescribed, to wit:

A. Application for Monetization of Leave Credits:

1. Any official/employee who wishes to monetize his leave credits must first file an
application for leave of ten (10) working days which shall be duly recommended
by the Auditor/Supervisor concerned and approved by the COA Regional Director
in the regional offices; or in the case of the COA Central Office and Metro Manila
Area, submitted to the Employees Welfare Division for certification of his
accumulated leave credit balance and approved by the Director, Administrative
Office. No inclusive dates shall be indicated in the leave application. (Example
form attached).

2. Upon approval by the Director, Administrative Office, or the Regional Director, as

the case may be, the official/employee concerned shall prepare the voucher
corresponding to the period of the leave applied for.

3. The official/employee concerned shall not actually go on leave of absence but

shall continue to report for work during the period covered by his approved leave.

4. Commutation of the ten (10) days leave credit may be availed of by any
official/employee only once a year.

5. A monthly report on the officials/employees who availed of the monetization of

leave credits shall be submitted by the Directors/Unit Heads to the Employees
Welfare Division, Administrative Office and the Accounting Division, PFMO.

B. Computation of Money Value of Ten (10) Days Leave Credits:

FORMULA: Monthly Salary x 10 days = Money Value of

22 monetized leave

EXAMPLE: P10,000.00 (monthly sal.) x 10 days = P4,545.45

22
 NOTE : Divisor of 22 is used as the average working days per month.

Please be guided accordingly.

By Authority of the Chairman:

(SGD.) BARTOLOME C. FERNANDEZ, JR.

Commissioner,
Officer-in-Charge