Professional Documents
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WHAT THE 1987 (TITA CORYS TIME) CONSTITUTION PROVIDES ON GOVERNMENT MONEY:
.... NO MONEY SHALL BE PAID OUT OF THE TREASURY EXCEPT IN PURSUANCE OF AN APPROPRIATION OF LAW....
MEANING.....
NO PAYMENT FROM PUBLIC MONEY IF NO LAW AUTHORIZING SUCH PAYMENT AND SPECIFYING SUCH PURPOSE MEANING FURTHER THAT NO PAYMENT UNLESS NO LAW PASSED BY CONGRESS/ SENATE --- THE GENERAL
APPROPRIATIONS ACT..
MEANING...
THE DEPT OF BUDGET AND MANAGEMENT
--- UPON APPROVAL OF THE BUDGET LAW
WILL START ISSUING ALLOTMENTS OR AUTHORITY TO GOVT AGENCIES TO INCUR OBLIGATIONS OR ENTER INTO COMMITMENTS OR SPEND GOVT MONEY
DEPENDING ON THE LEVEL OF ALLOTMENTS TO AGENCIES CONCERNED, WILL ONLY START RELEASING FUNDS ONLY UPON APPROVAL OF THE GENERAL APPROPRIATIONS LAW (OR NATIONAL BUDGET)
FOLLOWING: BUDGETARY ACCOUNTS SYSTEM RECEIPT/ INCOME & DEPOSIT SYSTEM DISBURSEMENT SYSTEM, & FINANCIAL REPORTING SYSTEM
Q.: WHAT IS THE SYSTEM OF PRESCRIBING THE PROCEDURES FOR RECORDING APPROPRIATIONS, ALLOTMENTS AND OBLIGATIONS?
a. Fund accounting b. Government accounting c. Obligation accounting
d. Budgetary accounting
Q.: WHAT IS THE SYSTEM OF PRESCRIING THE PROCEDURES FOR RECO DING APPROPRIATIONS, ALLOTMENTS AND OBLIGATIONS?
a. Fund accounting b. Government accounting c. Obligation accounting
d. Budgetary accounting
BUDGETING.....
IT IS PLANNING ...
IT IS CONTROLLING ....
PLANNING DELVES INTO THE FUTURE OBJECTIVES AND BUDGETS TO ATTAIN SUCH OBJECTIVES; CONTROLLING STEPS TAKEN BY MGT TO ENSURE OBJECTIVES ARE ATTAINED
THE REPRESENTIVE BODY (CONGRESS) ....TO OBTAIN APPROVAL AND AUTHORIZATION BEFORE ANY PLAN IS DONE
FRAME CONTROLS AMOUNTS TO BE RAISED, IF ANY, AND PROPOSED AMOUNT FOR SPENDING THIS IS A PROGRAM ABOUT RAISING/ COLLECTING MONEY AND HOW IT SHALL BE SPENT.
THERE IS A NEED TO CLASSIFY INCOME AND EXPENDITURES TO REFLECT SUCH ACCOUNTS --- SO THAT THESE DATA COULD BE USED IN FUTURE BUDGE ESTIMATES
Q.: ITS MAIN CONCERN IS THE AVAILABILITY AND USE OF FUNDS FOR PUBLIC SERVICES
a. Commission on audit b. Bureau of the treasury c. Department of finance d. National budgetary system e. Bangko sentral
Q.: ITS MAIN CONCERN IS THE AVAILABILITY AND USE OF FUNDS FOR PUBLIC SERVICES
a. Commission on audit b. Bureau of the treasury c. Department of finance d. National budgetary system e. Bangko sentral
PROGRESS; AND STATEMENTS OF CONDITION OF THE NATIONAL TREASURY ..... AT THE END OF LAST COMPLETED FY; AT THE END OF FISCAL YEAR INPROGRESS; & ESTIMATED CONDITON AT END OF ENSUING FY
Q.: IT IS A STATEMENT OF ESTIMATED RECEIPTS AND EXPENSES OF THE GOVERNMENT WHICH IS THE BASIS FOR THE GENERAL APPROPRIATIONS LAW.
a. b. c. d. e.
National government budget Local government budget National and local government budgets Statement of budget operations Government financial statements.
Q.: IT IS A STATEMENT OF ESTIMATED RECEIPTS AND EXPENSES OF THE GOVERNMENT WHICH IS THE BASIS FOR THE GENERAL APPROPRIATIONS LAW.
a. b. c. d. e.
National government budget Local government budget National and local government budgets Statement of budget operations Government financial statements.
.... IT IS ABOUT PUBLIC FINANCE AND FINANCIAL TRANSACTIONS, BELONGING TO THE PUBLIC OR GOVERNMENT TREASURY
CREATED.
BUT WHAT IS A TRUST FUND? .... IT IS REAL PROPERTY OR PERSONAL PROPERTY HELD IN TRUST FOR THE BENEFIT OF ANOTHER PERSON...
OPERATIONS OF A GOVERNMENT AGENCY. 5. ALL DISBURSEMENTS OR DISPOSITION OF GOVT MONEY AND/OR PROPERTY SHALL BEAR THE APPROVAL OF THE PROPER OFFICIALS
ADHERED TO; 8. GAAP AND PRACTICES OF ACCOUNTING, SOUND MANAGEMENT AND GOOD FISCAL ADMINISTRATION SHALL BE OBSERVED, PROVIDED THESE DO NOT CONTRAVENE EXISTING LAWS AND REGULATIONS.
COVERS ONE YEAR AND THE BASIS FOR AN ANNUAL APPROPRIATION SUPPLEMENTAL BUDGET ONE THAT ADJUSTS A PREVIOUS BUDGET DEEMED INAPPROPRIATE FOR THE PURPOSE IT WAS INTENDED; ALSO THE BASIS FOR A SUPPLEMENTAL APPROPRIATION
THIS IS SUBMITTED IN SPECIAL FORM ON ACCOUNT THAT ITEMIZATIONS ARE NOT ADEQUATELY PROVIDED IN THE APPROPRIATIONS ACT OR THAT AMOUNTS ARE NOT AT ALL INCLUDED IN THE BUDGET LAW.
EMPHASIZES THE PROGRAM OR SERVICES CONDUCTED AND BASED ON FUNCTIONS, ACTIVITIES AND PROJECTS, FOCUS ATTENTION UPON THE GENERAL CHARACTER AND NATURE OF WORK TO BE CARRIED OUT AND THE SERVICES TO BE RENDERED
THE OBJECTS OF THIS BUDGET ARE EXPENDITURES SUCH AS SALARIES AND WAGES, TRAVELLING EXPENSES, FREIGHT, SUPPLIES AND MATERIALS AND EQUIPMENT
Q.: It concerns with the implementation of the national budget by the different departments and release of allotments.
a. Budget preparation b. Budget authorization c. Budget execution d. Budget accountability
Q.: It concerns with the implementation of the national budget by the different departments and release of allotments.
a. Budget preparation b. Budget authorization c. Budget execution d. Budget accountability
IDENTIFY GOVERNMENT PRIORITIES .... (EXAMPLES?....) INCREASE REVENUE (EXAMPLES?... TAX) DECREASE EXPENDITURES.... SPEND THE DEFICIT.
1.
BUDGET PREPARATION
COVERS THE FOLLOWING: ESTIMATING REVENUES DETERMINING PRIORITIES AND ACTIVITES TRANSLATING PRIORITIES AND ACTIVITIES IN TO EXPENDITURE LEVELS
THE
VARIOUS GOVERNMENT AGENCIES ESTIMATES THEIR RESPECTIVE BUDGETS: LGUs BUREAUS, AGENCIES GOCCs, ALL OTHER GOVT BODIES UNDER THE EXECUTIVE DEPARTMENT THEN SUBMITTED TO EXECUTIVE BRANCH PRESIDENT FOR REVIEW AND FINALIZATION
THE
TRANSMITS THE PROPOSED BUDGET TO THE LEGISLATIVE DEPARTMENT (CONGRESS) --AS THE BASIS FOR THE APPROVAL OF BUDGET LAW, KNOWN AS THE GENERAL APPROPRIATIONS ACT- OF YEAR XXXX
IT IS A DOCUMENT ISSUED BY THE DBM OUTLINING PRIORITY AREAS OF THE GOVT FOR THE APPLICABLE BUDGET YEAR
BUDGET CALL....
REMINDS AGENCIES OF BUDGET LIMITS APPROXIMATE RATE OF INCREASE IN GOVT CIELINGS, AS UP DATED IN THE LATEST
BUDGET MESSAGE OF THE PRESIDENT/ MALACANANG THEN DBM SUMMARIZES ALL BUDGET PROPOSALS, ANALYZES AND RECOMMENDS TO THE PRESIDENT FOR SIGNATURE AND EVENTUAL TRANSMITTAL TO CONGRESS
ADDRESS); THE NATIONAL BUDGET PROPOSAL IS NOW TRANSMITTED TO THE HOUSE OF REPRESENTATIVE
LEGISLATIVE AUTHORIZATION
A SUMMARIZED BUDGET IS DONE IN LUMP SUM, FURTHER DETAILED INTO BUDGETARY FUNCTION BY ACTIVITIES OR
PROJECT. EACH AGENCY IDENTIFIES ITS MOST SIGNIFICANT ACTIVITY OR ACTIVITIES. HEADS OF AGENCIES ARE OCCASIONALLY INVITED DURING BUDGET COMMITTEE HEARINGS TO EXPLAIN
WHAT IS APPROPRIATION...
THIS IS AN AUTHORIZATION MADE UNDER LAW OR LEGISLATIVE ENACTMENT, DIRECTING THE PAYMENT OF GOODS AND
SERVICES OUT OF GOVERNMENT FUNDS UNDER SPECIFIC CONDITIONS OR FOR SPECIAL PURPOSE...
Q.:WHICH DEPT PREPARES THE NATIONAL BUDGET, WHICH SERVES AS THE BASIS FOR THE GENERAL APPROPRIATIONS ACT?
a. Legislative department
b. Executive department c. Judiciary department
Q.:WHICH DEPT PREPARES THE NATIONAL BUDGET, WHICH SERVES AS THE THE BASIS FOR THE GENERAL APPROPRIATIONS ACT?
a. Legislative department
b. Executive department c. Judiciary department
(BARs)
End.