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The BUDGET PROCESS

The BUDGET PROCESS. BUDGET CYCLE. Preparation. Accountability. Authorization. Execution. RA No. 10147. 5 Priority Areas of AQUINO GOVT Transparency Economic Growth Anti-Poverty Rule of Law Climate Change. The BUDGET PROCESS. Budget Execution -.

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The BUDGET PROCESS

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  1. The BUDGET PROCESS BUDGET CYCLE Preparation Accountability Authorization Execution

  2. RA No. 10147 5 Priority Areas of AQUINO GOVT • Transparency • Economic Growth • Anti-Poverty • Rule of Law • Climate Change

  3. The BUDGET PROCESS Budget Execution - • Commences with the issuance by the DBM of a circular prescribing the preparation of the annual agency Work and Financial Plans (WFPs); • The Agency annual work and financial plan is required for the following purposes : • 1. To promote efficiency in the programming and utilization of budgetary resources; • 2. To adjust agency physical targets and the corresponding level of program implementation in accordance with the budgetary level approved under the General Appropriations Act; • 3. To establish appropriate schedules for the release and utilization of funds in accordance with the agency work program.

  4. 1. ABM2.SAROs3. NCA4. NCAA5. Cash Disbursement Ceiling

  5. The BUDGET PROCESS and SIGNIFICANT BUDGETARY INNOVATIONS Budget Accountability - • Involves submission of Accountability Reports to fiscal oversight agencies (DOF, COA) and Congress. • This is preparation of financial and physical reports of operations which basically provides information on the actual physical accomplishment of agencies in relation to actual expenses accrued. • There are also Performance Reviews and Audits. Auditing is the detailed examination of the books of accounts to ensure that all expenses have been disbursed in accordance with accounting regulations and purpose for which the funds have been authorized.

  6. Personal Services Cost 1. Salaries ex. New Teacher 1 SG 11 SSL 3 Second tranche June 23, 2010 – May 31, 2011 = Php 15,649.00 June 01, 2011 17,099.00 2. Clothing 4,000/annum • PIB 2,000/annum (not included) • PERA 2,000/month • Health Ins Pre 188/month • Pag-Ibig100/month • ECIP 100/Month • RLIP 12% of total salaries

  7. Personal Services Cost 1. Salaries ex. New Teacher 1 SG 11 SSL 3 Second tranche Jan 01, 2011 – May 31, 2011 = Php 15,649.00 X 5mo=78,245 June 01, 2011 -Dec 31,2011 17,099.00 X 7 Months =119,693 2. Clothing 4,000 • PIB 0 • PERA 24,000 • HIP 2,256 • Pag-Ibig 1,200 • ECIP 1,200 • RLIP 23,753 • Bonus 17,099 • Cash Gift 5,000 TOTAL 276,446 Less: 8%tax) 15,845 Net 260,601 ( NCA to be received)

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