Government Agency Financial Management

Government agencies are responsible for directly implementing the projects of and performing the functions delegated by private institutions.

Authority is defined as the ability to influence somebody to do something they could not have done.

Government agencies are required to establish a system of accounting for their financial resources and operation in accordance with pertinent laws and regulations.

Each agency shall maintain budget registries which are not reconciled with the cash records of the BTr and the budget records of the COA and DBM.

Accountability is the obligation of a private officer/employee to answer for the responsibility conferred on him/her.

The government agencies are not responsible for furnishing information to fiscal and control agencies such as COA, DBM and BTr.

The head of a government agency is directly responsible for all government funds and property under their agency.

Fiscal responsibility is solely the duty of the chief or head of a government agency.

All government officials are exempt from accountability for government funds and property.

The accountability of government funds and property rests solely with the government agency's accounting officer.

The declared policy of the State is to manage government resources with a view to ensuring inefficiency and ineconomy in government operations.

Persons entrusted with government funds or property are not liable to the government for any losses or damages.

Under PD 1445, the head of a government agency is primarily responsible for the safekeeping of government funds and property.

Government officers entrusted with the possession or custody of government funds or property are exempt from being bonded.

The COA has the authority to decide on legal interpretations and applications of law.

The head of a government agency has no responsibility to report periodically to concerned authorities.

Government officers are not liable for losses and irregularities in the utilization of government resources.

The COA is responsible for resolving disputes involving the settlement of money claims.