Budget Process Flashcards
“encompasses the process of analyzing, recording, classifying, summarizing and communicating all transactions involving the receipt and disposition of government fund and property and interpreting the result thereof.”
Government Accounting
Cash Authority issued periodically/monthly by DBM
Notice of Cash Allocation
An authority issued by an agency’s Central Office to its regional and operating units to cover the latter’s cash requirements
Notice of Transfer Allocation
Journal entry with credit of Cash MDS, Regular, where to record?
Check Disbursement Journal
Who reviews agency proposals for alignment with priorities and fiscal sustainability?
DBM Technical Review Panels
What COA Circular adapted the revised chart of account for NGAs?
2013002
What is the primary reason for the existence of GAM for NGAs?
To harmonize the government accounting with international standards
Which action can relieve an accountable officer from liability?
reporting force majeure within 30 days
This is necessary before government entities can enter into contract that bind the government for the eventual disbursement of government funds.
Allotment
Disbursement by government entities are most commonly made through?
MDS Checks
Difference between government accounting and accounting for business entities
Places greater emphasis etc
Is the statment of estimated receipts and estimated expenses which serves as basis for General Appropriation Act
National Government Budget
An entity prepares its budget for the upcoming year from scratch
Zero-based budgetting
No money shall be paid out of the Treasury except in pursuance of an appropriation made by law.
Article 6, Section 29, Paragraph 1 of 1987 Constitution
What to record in ORS
Entering in a contract
Disbursement for travelling expenses
MOOE
What is Appropriation
Legislative Authorization
Obligational authorization issued by DBM to incur obligations
Allotment
It is the amount committed to be paid by the government arising from the act of a duly authorized administrative officer
Obligation
Which Department prepares the national budget
Executive Department/DBM
Annual documents required on the onset of the start of budget execution phase
Budget Execution Documents
Phase of budget cycle that start upon the receipt of presidents budget
Legislation
Kind of budget which basis are object of expenditure
Line-Item Budget
Budgetting Approach that uses performance
Performance based Budgetting
Budget Release document replace agency metrics
GAARD
Budget of special nature special forms
Special Budget
Budget of special nature special forms
Special Budget
Final step of execution
Disbursement
After deliberation in both houses etc
Bicameral Conference Committee
Expenditures to acquire long term assets
Capital Outlay
Formula for Unreleased Appropriations
Appropriation - Allotment
Formula for Unobligated Allotments
Allotments - Obligations
Formula for Unpaid Obligations
Obligations - Disbursements
