Republic of the Philippines

MINISTRY OF FINANCE Office of the Minister Manila MINISTRY ORDER NO. January 25, 1980 SUBJECT:

RECLASSIFICATION OF MUNICIPALITY OF MASBATE, MASBATE^IN ACCORDANCE WITH THE PROVISIONS OF PRESIDENTIAL DECREE NO. 465.

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The Regional Director for Local Government Finance, Region V, Provincial Governor, Municipal Mayor, the Sangguniang Bayan, Provincial and Municipal Treasurers, Provincial Auditor and Others Concerned.

Pursuant to Section 5 of Presidential Decree No. 465, the municipality of Masbate, Masbate, is due for reclassification effective July 1, 1978, however, its present classification as Third Class has been maintained considering the average annual income of P845,321.45 actually realized during the last four (4) consecutive fiscal years (1974-1977), as certified by the Commission on Audit under letter dated October 5, 1979. The foregoing classification shall be the basis for determining the maximum amounts expendable for salaries and wages, representations allowances, administrative aids and mther statutory contributions in the adoption of the annual budgets, as well as the maximum salary rates of local government officials and employees in accordance with existing law and regulations. This accordingly supplements 'Ministry Order No.3-8qAated December 20, 1979, of this Ministry. By authority of the Minister:

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"Isang Bansa, Isang Diwa"

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