Any monetary collection that would go into the Bayanihan Fund will be remitted to the Bureau of Treasury and will be utilized in accordance with existing rules and regulations.

This was stressed today by Malacañang in answer to querries on how the fund, which consists of donations by private and public individuals in response to the call of government to solve the deficit problem, would be managed.

"If donors do not specify the use of the fund, the donations will be reflected as income of the Bureau of Treasury and will not be used except to reduce the budget deficit, " said Press Secretary Ignacio Bunye.

However, if donors specify the project for which the donation was made, like the construction of school buildings, Bunye said the fund will be used for the purpose specified by the donor.

"Any disbursement will be made in accordance with existing accounting and auditing rules and will be made by the agency tasked to implement the project," Bunye explained.

President Gloria Macapagal-Arroyo had earlier commended the spontaneous response of well-meaning Filipinos to the ongoing crisis, saying it is one way of showing to the world the Filipinos’ spirit of unity and solidarity.

"More than the monetary value of the pledges and donations, we are showing to the world our unity and solidarity in facing the challenges of nation-building and reform," she said.

The President expressed appreciation to the bayanihan spirit "that has infused the sense of sacrifice and generosity of our people."

"Every peso counts in this effort, and we shall ensure that it is acknowledged and spent well on the most basic needs of our people," she said.

The government, she said, will combine the renewed surge of business confidence, an aggressive push for investments, diplomatic offensives and good governance to bear upon the crisis "even as we share the greater sacrifices in the months to come."