(4) a Certified Public Accountant, or a regular member of the Philippine Bar, or Bachelor of Commerce graduate, or a holder of Master‟s degree in Business Administration, or Public Administration with appropriate civil service eligibility; (5) with at least five (5) years supervisory experience in treasury operations and related works; and (6) of proven honesty and integrity. These qualifications shall also apply to both Assistant Regional Treasurers for Administration and Operations. SEC. 7. Appointment. – The Regional Treasurer who shall have the rank of Cabinet Secretary shall be appointed by the Regional Governor for a term of five (5) years and without prejudice to reappointments, provided that after the approval of this Code, the incumbent Regional Treasurer shall continue to serve the unexpired portion of his term of office of five (5) years. In case of vacancy, the appointee succeeding him/her shall serve only the unexpired portion of his/her term without prejudice to reappointment. SEC. 8. Salary. – Subject to salary increase adjustments, the Regional Treasurer shall receive an annual compensation equivalent to that of a Regional Department Secretary or in accordance with the standards set by the Office of Compensation and Position Classification. The two (2) Assistant Regional Treasurers shall receive annual compensation one (1) grade below the salary grade of the Regional Treasurer. SEC. 9. Quarterly and Annual Reports. – the Regional Treasurer shall submit quarterly and annual reports to the Regional Governor and the Speaker of the Regional Assembly on the status of funds in the Regional Treasury. SEC. 10. Relation with Treasurers of Local Government Units (LGUs). – Relationship between the Regional Treasurer, the provincial, city, municipal, or barangay treasurer shall be defined and executed in accordance with the provisions of applicable laws, rules and regulations, and such institutional arrangements as may be agreed upon by the Autonomous Regional Government and the National Government or their respective instrumentalities. Chapter 2 Regional Budget and Management Office (RBMO) SEC. 11. Declaration of Policy- Article XVIII Section 6 of RA 9054 provides that pending the enactment of a regional budgetary law, the budgeting process of the Autonomous Regional Government shall be governed by pertinent rules and regulations prescribed by the Department of Budget and Management. SEC. 12. Mandate. - The RBMO is mandated to assist the Office of the Regional Governor and line agencies and offices in the Autonomous Regional Government in the 197