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ISABELA STATE UNIVERSITY

IMPLEMENTING RULES & REGULATIONS FOR THE MONETIZATION OF LEAVE CREDITS

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In accordance with and by virtue of Rule XVI, Section 22, 23, and 24, Omnibus Rules
Implementing Book V of Executive Order No. 292 and Memorandum Circular No.. 08series of
2003, the following rules and regulations are hereby adopted and promulgated for the
implementation of Monetization of Leave Credits, thus:

RULE I
TITLE AND POLICIES

SECTION 1. Title – This IRR shall be known and cited as the “University Implementing Rules and
Regulations for the Monetization of Leave Credits (IRRM)”.

SECTION 2. Policies – It is the declared policy of the State to protect and promote the right health
of the people and to instill health and health consciousness among them. Relative thereto, with
emphasis to the public sector in this jurisdiction, the State further affirms labor as a primary social
economic force. Finally, It shall protect the rights of workers and promote their welfare.

Towards this end, the University Management hereby establishes the implementing rules and
regulations of the abovementioned benefits, in order to:
1) To facilitate its implementation;
2) To provide system in the procedure of application; and
3) To provide order of prioritization in the granting of said benefits.

RULE II
COVERAGE

Section 3. Coverage – This IRRM shall apply and cover all faculty and staff, whether of
permanent, temporary, casual or conterminous appointment, of the Isabela State University
System, who have accumulated fifteen (15) days of vacation leave credits shall be allowed to
monetize a minimum of ten (10) days: Provided, that a maximum of thirty (30) days may be
monetized in a given year, subject to the availability of funds.

Service credits may also be applied for monetization, provided, however, that the same shall be
converted first into vacation-sick leave credits in accordance with the conversion rate and
procedure of service prescribed under CSC Memorandum Circular No. 9, series of 1998.

RULE III
DEFINITION OF TERMS

SECTION 4. Definition of Terms – Whenever used in the IRRM, the following words or phrases
shall mean or refer, thus: