Can we disburse public funds despite pending renewal application of fidelity bond?

No, the fidelity bond of an accountable public officer shall be renewed before the expiration of the bond.

Unjustified failure of an accountable public officer to comply with the requirements to apply the Fidelity Bond pursuant to Treasury Circular No.02-2009 dated August 06, 2009 and Public Bonding Law, shall subject the responsible official/employee to applicable criminal, and/or administrative liability under the Revised Penal Code and PD No. 1445.

(Treasury Circular No.02-2009 dated August 06, 2009)