The DBCC was created on May 14, 1970 through the Executive Order No.

232
creating the Presidential Development Budget Committee (PDBC) and
enumerating its functions and objectives.
Later, on March 1, 1972, the Integrated Reorganization Plan renamed the PDBC to
its current appellation and attached it to the NEDA. In the same year on
September 22, Presidential Decree (PD) No. 136 was issued, amending the
Integrated Reorganization Plan to include the Executive Secretary in the
Membership of the DBCC. In July 25, 1987, Executive Order No. 292 was issued to
reorganize the NEDA including the DBCC to its composition today.
The role of the DBCC is primarily to review and approve the macroeconomic
targets, revenue projections, borrowing level, aggregate budge level and
expenditure priorities and recommend to the Cabinet and the President of the
consolidated public sector financial position and the national government fiscal
program.
Functions of the DBCC
Specifically, the DBCC is mandated with the following functions:
Recommend for Presidential approval the level of the annual government
expenditure program and the ceiling of government spending for economic
and social development, national defense, general government and debt
service;
Recommend to the President the proper allocation of expenditures for each
development activity between current operating expenditures and capital
outlay; and
Recommend to the President the amount set to be allocated for capital
outlay under each development activity for various capital or infrastructure
projects.
Aside from what was explicitly mentioned in the EO No. 232, listed bellow are
other major functions of the DBCC:
The assessment of the reliability of revenue estimates;
The recommendations of appropriate tax or other revenue measures and the
extent and type of the borrowings; and
The conduct of periodic review and general examination of costs,
accomplishments and performance standards applied in undertaking
development projects

The Committee is composed of the principals of the four member agencies and is
chaired by the DBM Secretary. There is also an Executive Technical Board (ETB),
which serves as the clearing-house of the DBCC and consists of the
Undersecretaries and Directors of the DBCC member agencies.
The members of the DBCC have the following specific responsibilities:
DBM resource allocation and management
DOF revenue generation and debt management
NEDA- overall macroeconomic policy
OP Presidential oversight
To ensure close coordination on real, fiscal monetary and external sectors of the
economy, the BSP was invited to attend as a Resource Institution to the DBCC,
ETB and Sub-Committees under DBCC Resolution No. 98.1 dated June 22, 1998. As
a resource institution, the BSP is responsible for the monetary measures and
policies.
HE DISBURSEMENT ACCELERATION PROGRAM
The Disbursement Acceleration Program (DAP) is a stimulus package under the
Aquino administration designed to fast-track public spending and push economic
growth. This covers high-impact budgetary programs and projects which will be
augmented out of the savings generated during the year and additional revenue
sources.
Funds used for programs and projects identified through DAP were sourced from
savings generated by the government, the realignment of which is subject to the
approval of the President; as well as the Unprogrammed Fund that can be tapped
when government has windfall revenue collections, e.g., unexpected remittance
of dividends from the GOCCs and Government Financial Institutions (GFIs), sale of
government assets.

WHEREAS, the experience of the years has been reflected in various improvements
in the budget process, and embodied in C.A. No. 246, R.A. No. 992, and P.D. No.
999;
WHEREAS, the budget process as implemented prior to September 21, 1972 was
not able to fully support national objectives and plans;
WHEREAS, national interest calls for the institutionalization of budgetary
innovation realized during the New Society and developed within the context of
the Constitution of 1973.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by
virtue of the powers vested in me by the Constitution, do hereby Order and
Decree:
Section 1. Title. This Decree shall be known as "Budget Reform Decree of 1977."