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11. 11. Principal Agencies tasked with fiscal functions: A. CONGRESS (Lower
House) B. DEPARTMENT OF FINANCE C. DEPARTMENT OF BUDGET AND
MANAGEMENT D. COMMISION ON AUDIT
12. 12. CONGRESS (Lower House) Responsible for revenue and expenditure
policies.
15. 15. COMMISSION ON AUDIT Conducts fund and performance audit to see
to it that expenditures are in accordance with the Appropriation Law
approved.
21. 21. LINE ITEM versus PERFORMANCE BUDGETING 1. Line Item • Object of
the expenditure type • Consists of a detailed listings of every position to be
filled • Gives the legislative body tremendous discretion to strike out or to
approve individual items. • Funds appropriated may not be transferred from
one category of expense to another. • Also known as “rule of thumb”
budgeting where figures of past years are reflected but without income
indicators.
22. 22. LINE ITEM versus PERFORMANCE BUDGETING Three columns of figures
appear in each budget sheet: a) Actual expenditure for each object during
the previous fiscal year b) Estimated amounts to be spent for the same
objects for the current fiscal year c) Amount desired for the same objects
for the incoming or future fiscal year
24. 24. NEW POLICY GUIDELINES FOR BUDGETING Based on this agenda: The
formulation of the national budget must be in the context of a three year
planning framework Expenditures must achieve program targets and
support development strategy
25. 25. NEW POLICY GUIDELINES FOR BUDGETING Agency programs will be
supportive of the identified priority areas which include the following: 1.
Modernization of the agricultural sector to augment farmer income, bolster
production and attain food security. 2. Improvement of the quality of basic
social services like health and sanitation, nutrition, education, social welfare
and housing. 3. Acceleration of countryside infrastructure development. 4.
Enhancement of global competitiveness through liberalization,
deregulation, and privatization. 5. Provision for macroeconomic stability by
instilling fiscal discipline, prudent government spending and efficient
revenue generation. 6. Reform in governance to make it responsive to the
current domestic and global environment.
26. 26. PRINCIPLES FOR AGENCY GUIDANCE 1) Prudent Spending 2)
Entrepreneurial Budgeting 3) Performance Based Budgeting 4) Wholistic
Budgeting 5) Consistency with Sub-Sectoral Development Objectives
28. 28. INCOME SOURCES 1) Tax Revenue a) Income tax b) Property tax c)
Domestic goods and services tax d) International trade and transactions
sales tax e) Value added tax (VAT)
29. 29. INCOME SOURCES 2) Non-Tax Revenue a) Operating and service income
b) Income from public enterprises and investments c) Miscellaneous income
d) Capital revenue e) Grants f) borrowings
30. 30. END OF PART 1 Public Fiscal Administration THANK YOU! Reporter: Ryan
Candido Amilhussin
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