Construction, Inc.

2/F Las PiñasBusinessCenter

Alabang-Zapote Rd. Talon, Las PiñasCity

To : John Risty M. Frogosa

From : Accounting Department
Date : July 3, 2019

APPOINTMENT LETTER

This is to formally appoint you as the revolving fund (additional) custodian of MGS Construction, Inc. effective July 3,
2019. You are directly responsible for the operation of the fund; thus you must observe and adhere to the following
policies and procedures for proper accountability:

 The amount of additional Revolving Fund entrusted to you Five Thousand Pesos Only
(Php.5,000.00).Total revolving fund entrusted to you is now Fifteen Thousand Pesos (Php.15,000)
 The revolving fund (RF) must always be kept under lock or in a vault accessible only to you.
 Expenses from revolving fund must be liquidated immediately. A summary of expenses should be
attached together with all the original official receipts (OR) pasted neatly on sheets of recycled short
bond paper. In cases where official receipts are not available, an acknowledgement receipt can
suffice.
 Allowable expenses from fund shall be all petty expenses needed in the project site/plant for the
performance of everyday operations.
 As a rule, the fund should not be used to purchase project materials or pay any contractors, as these
transactions are under the purchasing department. If in emergency cases or during unavoidable
circumstances, a clearance from the Purchasing Head should be obtained before any purchases of
materials or payments to any contractors can be made.
 Request for replenishment of fund can be submitted to the accounting department at any time during
working hours. Provided that the accounting department will only receive and process requests that
were pre-approved by your respective department head.
 Bear in mind that the accounting department is not liable for any lost requests or documents that were
not properly submitted and acknowledged by any accountant concerned.
 Personal money or any cash collections should not be mingled with the revolving fund. A receipt
should be issued for any overages from the fund and any shortages should be paid by the custodian.
 The accounting department has the right to perform cash counts anytime and unannounced during
the duration from the time you accepted and signed this appointment letter until the whole return of
the fund duly noted and accepted by the accounting department.

In view of the above, kindly signify your acceptance on your appointment as the Revolving Fund Custodian on the
space provided below.

Acknowledged and Accepted by:

John Risty M. Frogosa

(Signature over printed name)
Revolving Fund Custodian

Date: July 3, 2019

Signed in the presence of:

Loida D. Nacario
(Signature over printed name)
Chief Accountant