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ACCOUNTING FOR BUDGETARY ACCOUNTS

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Eunice Ambrocio

on 12 January 2015

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Transcript of ACCOUNTING FOR BUDGETARY ACCOUNTS

Department of Budget and Management
ACCOUNTING FOR OBLIGATIONS
Performance-based Budgeting
The BOOKS
RAPAL
RESPFA
RANCA
BUREAU OF TREASURY
FREE
Monday, January 12, 2015
Chapter II
COMMON FUND SYSTEM
DPWH DepEd
DOH CHED
State Universities ad Colleges (SUCs)
ACCOUNTING FOR BUDGETARY ACCOUNTS
Sect. 29 (1) Article VI of the 1987 Constitution
"No money shall be paid out of the Treasury except in pursuance of an appropriation by law."
"All budgetary accounts (appropriations, allotments and cash allocations) are based on the General Appropriations Act (GAA).
General Accounting Plan (GAP) - government's accounting system from source documents to final reports
1. Budgetary Account Systems
2. Receipt/ Income and Deposit System
3. Disbursement System
4. Financial Reporting System
THE NATIONAL BUDGET
BUDGET
PLANNING
CONTROL
30 DAYS
Opening of regular session
The president submits to the congress a budget of expenditures and sources of financing.
1. No money shall be paid out of the Treasury without appropriation of law or other specific authority
2. Government funds for public purpose
3. Trust funds for specific purpose for which it was created
4. Fiscal responsibility shared by all existing authority over financial affairs of government
5. No disbursements from fund without approval
6. Complete documentation of claims against government funds.
7. All laws and regulations be adhered to.
8. GAAP and sound management should be observed.
FUNDAMENTAL PRINCIPLES OF GOVERNMENT TRANSACTIONS
KINDS OF BUDGET
1. AS TO
NATURE
a. Annual Budget
~ covers one year
basis of GAA
b. Supplemental budget
~ adjustment of previous budget
c. Special budget
~ for items not provided in GAA
KINDS OF BUDGET
2. AS TO
BASIS
a. Performance Budget
~ program of activities with costs of undertaking
b. Line Item Budget
~ adjustment of previous budget
KINDS OF BUDGET
3. AS TO
APPROACH
a. Zero-based Budgeting
~ uses defined ranking procedures to analyze needs of activities
b. Incremental Approach
~ focuses analysis of incremental changes
The BUDGET
Expenditures =/< Revenues
BALANCED
THE BUDGET PROCESS
1. PREPARATION
Budget Call (DBM)
DBM Consolidates
Final Approval by President
Forwarded to Congress
2. AUTHORIZATION
by CONGRESS
Appropriations
GAA
Supplemental
Appropriation
Automatic
Appropriation
Continuing
Appropriation
3.EXECUTION
regulation of fund release to insure that funds used only public purpose
4. ACCOUNTABILITY
tracking, monitoring and evaluation
= QUARTERLY AGENCY PERFORMANCE EVALUATION
Detailed cat-up plan/ remedial action
General
Appropriations
Special Purpose
Funds
control and monitoring
of NCA releases
RENREP
BOOKS OF THE AGENCY
RAOPS
RAOMO
RAOCO
RAOFE
TAX REMITTANCE ADVICE
maintain NCA and monitor bank transfers in replenishing
Modified Disbursements Scheme (MDS) accounts.
Personnel Services:
Basic pay
all authorized:
Allowances
Bonuses
Cash gifts
Maintenance and Other Operating Expenses:
Traveling Expenses
Supplies and Materials
Repairs and Maintenance of Property
Plant and Equipment
Representation Expenses
Training and Seminar Expenses
Capital Outlay:
Purchase and Construction
of Property, Plant and Equipment
Financial Expenses:
Commitment fees
Bank Charges
Interest Expenses
Documentary Stamps Expenses
THANK YOU!
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