Podcast
Questions and Answers
ANNUAL BUDGET – a financial plan embodying the estimates of income and expenditure for one fiscal year is known as ________
ANNUAL BUDGET – a financial plan embodying the estimates of income and expenditure for one fiscal year is known as ________
budget
A budget that may be enacted after the annual budget has been approved is called a ________ budget
A budget that may be enacted after the annual budget has been approved is called a ________ budget
supplemental
An authorization made by law or legislative enactment directing payment out of government funds under specified conditions or for specific purposes is known as ________
An authorization made by law or legislative enactment directing payment out of government funds under specified conditions or for specific purposes is known as ________
appropriation
Allotment is an authorization issued by the DBM to an implementing agency to incur obligations for specified amounts contained in a legislative ________
Allotment is an authorization issued by the DBM to an implementing agency to incur obligations for specified amounts contained in a legislative ________
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Liabilities incurred and committed to being paid for by the government either immediately or in the future are known as ________
Liabilities incurred and committed to being paid for by the government either immediately or in the future are known as ________
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The actual withdrawal of cash from the BOT due to the encashment of checks issued by agencies and payment of budgetary obligation is called ________
The actual withdrawal of cash from the BOT due to the encashment of checks issued by agencies and payment of budgetary obligation is called ________
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The AGENCY BUDGET MATRIX (ABM) document disaggregates all programmed appropriations for each agency into two main expenditure categories: 'not needing clearance' and '______'.
The AGENCY BUDGET MATRIX (ABM) document disaggregates all programmed appropriations for each agency into two main expenditure categories: 'not needing clearance' and '______'.
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Items identified as '______' are those which require the approval of the DBM or the President.
Items identified as '______' are those which require the approval of the DBM or the President.
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For items that require approval, an agency needs to submit a Special Budget Request to the DBM with supporting documents. Once approved, a SPECIAL ALLOTMENT RELEASE ORDER (SARO) is issued for '______'.
For items that require approval, an agency needs to submit a Special Budget Request to the DBM with supporting documents. Once approved, a SPECIAL ALLOTMENT RELEASE ORDER (SARO) is issued for '______'.
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To authorize an agency to pay the obligations it incurs, the DBM issues a disbursement authority known as '______'.
To authorize an agency to pay the obligations it incurs, the DBM issues a disbursement authority known as '______'.
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The overall time frame for budget preparation is 7 months and should be done within 30 days from the opening of each regular session of Congress. AGENCY BUDGET MATRIX (ABM) is the comprehensive '______' document for appropriations.
The overall time frame for budget preparation is 7 months and should be done within 30 days from the opening of each regular session of Congress. AGENCY BUDGET MATRIX (ABM) is the comprehensive '______' document for appropriations.
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The different phases of the budget cycle from preparation to accountability include the submission of the proposed expenditure program of departments/agencies/special for confirmation by department/agency heads, presentation of proposed budget levels to the DBCC for approval, President’s refinement of the budget proposal, and finalization of budget documents. This process ensures the efficient allocation of resources and proper use of government funds for the benefit of the citizens and the fulfillment of the country’s development goals. The basic law governing the national budget is the '______'.
The different phases of the budget cycle from preparation to accountability include the submission of the proposed expenditure program of departments/agencies/special for confirmation by department/agency heads, presentation of proposed budget levels to the DBCC for approval, President’s refinement of the budget proposal, and finalization of budget documents. This process ensures the efficient allocation of resources and proper use of government funds for the benefit of the citizens and the fulfillment of the country’s development goals. The basic law governing the national budget is the '______'.
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Most of the time, it takes the form of a Notice of Cash Allocation (NCA); and in special cases, the Non- Cash Availment Authority (NCAA) and Cash Disbursement Ceiling (CDC). OTHERS DISBURSEMENT AUTHORITIES In contrast to NCAs, NCAAs are issued to authorized non-cash disbursements. CDCs are meanwhile issued to departments with overseas operations allowing them to use income collected by their foreign posts for their operating requirements DISBURSEMENTS (7) The Modified Disbursement Scheme is mostly used, where disbursements of national government agencies chargeable against the Treasury are made through government servicing banks such as the Land Bank of the Philippines and Development Bank of the Philippines. The budget process does not end when government agencies spend public funds: each and every peso must be accounted for to ensure that is used properly, contributing to the achievement of social- economic goals.
Most of the time, it takes the form of a Notice of Cash Allocation (NCA); and in special cases, the Non- Cash Availment Authority (NCAA) and Cash Disbursement Ceiling (CDC). OTHERS DISBURSEMENT AUTHORITIES In contrast to NCAs, NCAAs are issued to authorized non-cash disbursements. CDCs are meanwhile issued to departments with overseas operations allowing them to use income collected by their foreign posts for their operating requirements DISBURSEMENTS (7) The Modified Disbursement Scheme is mostly used, where disbursements of national government agencies chargeable against the Treasury are made through government servicing banks such as the Land Bank of the Philippines and Development Bank of the Philippines. The budget process does not end when government agencies spend public funds: each and every peso must be accounted for to ensure that is used properly, contributing to the achievement of social- economic goals.
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