LGU Financial Reports Evaluation Quiz
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Questions and Answers

What is the primary goal of the BLGF according to the text?

  • To be the focal agency and authority in local finance (correct)
  • To sustainably empower employees
  • To continuously develop effective and responsive organizational internal processes
  • To lead the way towards national development

    • Which of the following is NOT a Key Result Area (KRA) listed in the BLGF strategy map?

  • Policy Development
  • Compliance Reviews (correct)
  • LGU Financial Performance M&E
  • Capacity Development and Professionalization of the Treasury and Assessment Services

    • What is the primary function of the BLGF's Legal Division according to the text?

  • The text does not mention the function of the Legal Division (correct)
  • Information systems management
  • Local financial data analysis
  • Administrative and financial management

    • Which of the following is NOT listed as an BLGF Institutional Strengthening activity?

    <p>Budgeting and Accounting</p> Signup and view all the answers

    What is the primary Outcome of the BLGF's strategy according to the text?

    <p>LGU Fiscal Sustainability</p> Signup and view all the answers

    Which of the following is NOT listed as a Major Final Output (MFO) of the BLGF?

    <p>Capacity Building for LGU Treasurers</p> Signup and view all the answers

    What is the purpose of the Manual for the Evaluation of Local Treasury Operations (MELTO)?

    <p>To provide a systematic and uniform set of evaluation procedures supported by laws and regulations</p> Signup and view all the answers

    Who conducts the local treasury operations evaluation within Metro Manila?

    <p>BLGF Central Office</p> Signup and view all the answers

    According to the Constitutional Provision mentioned, who has the power to create revenues and levy taxes in Local Government Units?

    <p>Each Local Government Unit (LGU)</p> Signup and view all the answers

    What happens to the taxes, fees, and charges collected by Local Government Units (LGUs) according to the Constitutional Provision?

    <p>They exclusively accrue to the local governments</p> Signup and view all the answers

    What is the role of the Basic Reference Manual for the Evaluation of Local Treasury Operations (MELTO) according to the text?

    <p>Guiding BLGF, Regional Offices, and Provinces in evaluating local treasury operations</p> Signup and view all the answers

    What is the purpose of timely and accurate submission of LGU financial and fiscal reports?

    <p>For target-setting and policy formulation</p> Signup and view all the answers

    What constitutes a lien on a property subject to tax, according to the text?

    <p>Real property tax and other taxes levied under the title</p> Signup and view all the answers

    Which entity receives 40% of the proceeds in a municipality within Metro Manila, according to the text?

    <p>Municipal School Board</p> Signup and view all the answers

    When can the lien on a property subject to tax be extinguished, according to the text?

    <p>Upon payment of the taxes and related interests only</p> Signup and view all the answers

    Who enforces the lien on a property subject to tax by administrative or judicial action?

    <p>Both administrative and judicial authorities</p> Signup and view all the answers

    What percentage of proceeds goes to barangays in a city within Metro Manila, according to the text?

    <p>50%</p> Signup and view all the answers

    Where can a taxpayer appeal within 15 days from receiving an adverse decision by CBAA?

    <p>CTA en banc</p> Signup and view all the answers

    Study Notes

    BLGF Strategy Map

    • The BLGF is the focal agency and authority in local finance, aiming to be at the forefront of local economic growth and national development.
    • The organization's vision is to achieve LGU Fiscal Sustainability.

    Outcome

    • The desired outcome is LGU Fiscal Sustainability, with key result areas (KRAs) focusing on:
      • Regulation of LGU Financial Management
      • Policy Development
      • Treasury and Assessment Policy Reforms and Services
      • Technical Assistance
      • LGU Revenue Generation and Resource Mobilization Programs
      • Capacity Development and Professionalization of the Treasury and Assessment Services
      • LGU Financial Performance M&E Compliance Reviews
      • Accountability and Discipline

    Institutional Strengthening

    • The organization aims to strengthen its internal processes through:
      • Organizational Development
      • HR Systems
      • IT Systems
      • Knowledge Management
      • Performance Management
      • Rewards and Recognition
      • Good Governance

    Environmental Influence

    • The BLGF monitors and evaluates LGU Financial Performance, with a focus on:
      • Policy Development
      • LGU Fiscal Sustainability
      • Regulation of LGU Financial Management
      • Technical Assistance

    Support Mechanisms

    • The organization has a structured support system, comprising:
      • Office of the Executive Director
      • Administrative, Financial and Management Service
      • Financial and Management Division
      • Legal Division
      • Administrative Division
      • Internal Affairs Division
      • Policy, Planning, Programming and Standards Division
      • Local Financial Data Analysis Division
      • Information Systems Management Division
      • LGU Debt Monitoring & Evaluation Division
      • 15 Regional Offices
      • Plantilla of Personnel

    Local Treasury Operations Evaluation

    • The BLGF conducts local treasury operations evaluation, guided by the enhanced Manual for the Evaluation of Local Treasury Operations (MELTO).
    • MELTO provides a systematic and uniform set of evaluation procedures supported by existing laws, rules, and regulations.

    Basics of Local Finance and Taxation

    • The BLGF operates under the Constitutional Provision, Article X, Secs. 4-6, which grants LGUs the power to create their own sources of revenue and levy taxes, fees, and charges.
    • LGUs have a just share in national taxes, which are automatically released to them.

    Distribution of Proceeds

    • The distribution of proceeds is guided by Sec. 271 & 272, LGC, with the following allocations:
      • Province: 35%
      • Municipality: 40%
      • Barangay: 25%
      • City: 50%
      • MMDA: 35%
      • Municipality: 35%
      • Barangay: 30%

    Tax Remedies

    • Local Government Administrative Remedies:
      • Lien (Sec. 257, LGC)
      • Levy on Real Property (Sec. 258-252, LGC)
    • Taxpayer Administrative Remedies:
      • Protest (Sec. 252, LGC)
      • Claim for Refund or Credit (Sec. 253, LGC)
      • Redemption of Real Property (Sec. 261, LGC)
    • Judicial Remedies:
      • Civil action (Sec. 266, LGC)
      • Question of Legality (Sec. 187, LGC)
      • Court Action
      • Appeal to CTA en banc within 15 days from receipt of adverse CBAA decision.

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    Description

    Test your knowledge on the review, evaluation, and monitoring of timely and accurate LGU financial and fiscal reports. Explore the guidelines under the enhanced Manual for the Evaluation of Local Treasury Operations (MELTO) for local treasury operations evaluation.

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