CLARIFICATIONS ON THE AVAILMENT

OF MONETIZATION OF LEAVE CREDITS

Section 22. Monetization of Leave Credits

Monetization of Leave Credits of the Omnibus Rules on Leave Rule XVI of the Omnibus
Rules Implementing Book V of EO 292 provides Officials and employees in the career and
non-career service whether permanent , temporary, casual or co-terminus, who have
accumulated fifteen (15) days of vacation leave credits shall be allowed to monetize a
minimum of ten (10) days: Provided, that at least five (5) days is retained after monetization
and provided further that a maximum of thirty (30) days may be monetized in a given year.
(Provided for under CSC MC No. 41, s. 1998)

Section 23. Monetization of 50% or more of Vacation/Sick leave credits.

Monetization of fifty percent (50%) or more of the accumulated leave credits may be allowed
for valid and justifiable reasons subject to availability of funds.

Hereunder are the clarifications for the granting of the Iloilo Provincial Government
on monetization of leave credits:
1. For CY 2015, each employee has a budget allocation for monetization of ten
(10) days, as regular monetization. This must be charged against vacation
leave credits pursuant to section 22 as stated above.
2. Monetization of leave credits in addition to the regular ten (10) days is
classified as Special Monetization using the Sick Leave and/or Vacation
Leave for the following reasons:
a. That it will be used for medical and hospital needs of the employee
and/or his/her immediate family member/s;
b. That requested monetization will be used to pay for Educational
assistance e.g. payment of tuition fees and related expenses of the
employees and/or his/her immediate family member/s. Provided that
after the granting of Special Monetization, there is a leave credits
balance of at least ten (10) days vacation/sick leave credits.
c. For use in extreme financial need due to force majeure and
emergencies
Immediate family members refers to spouse, children, parents, unmarried
brothers and sisters and any relative living in the same roof or dependent upon
the employee for support.

3. Monetization of ten (10) days sick leave credits may be allowed subject to the
approval of the Chief of Office and the Local Chief Executive under the
following conditions:
a. Accumulated Vacation Leave balance is ten (10) days and below but
Sick Leave is more than thirty (20) days;
b. Funds of the concerned office are available.
c. Waiver, certification, and other documents must be attached if deemed
necessary.

4. All offices must have updated leave records of all its employees and
reconciled with the central files at the HRMDO prior to the processing of the
Monetization Payroll.