Yes, under Section 20 (b) of the IRR of RA No. 10742, the SK has financial independence in its operations, disbursements, and encashment of its funds, income, and expenditures. As such, the Sangguniang Kabataan funds shall be deposited in the name of the Sangguniang Kabataan of the concerned barangay in a government-owned bank situated in or nearest to its area of jurisdiction with the Sangguniang Kabataan chairperson and the Sangguniang Kabataan treasurer as the official signatories;