Fiscal Public Ad

Fiscal administration
 Leonor briones - Refers generally to the formulation, implementation and

evaluation of policies and decision on taxation and revenue administration;
resource allocation, budgeting and public expenditure; public borrowing and
debt management; accounting and auditing.
 It is the act of managing incoming and outgoing monetary transactions and
budget for governments, educational institutions, non-profit organizations,
and other public service entities
Example: solicits - The National Disaster Risk Reduction and Management
Council (NDRRMC) requests additional funds to strengthen disaster
preparedness and response. They need funds for relief goods, shelter,
medical supplies, and rapid response teams, particularly since the typhoon
season is approaching.
National budget allocation and preparation - The Department of Budget and
Management (DBM) prepares the annual national budget, which is reviewed
and approved by Congress.
Commission on audit (COA) – Kapag natapos ng isang ahensya ng gobyerno,
tulad ng Department of Public Works and Highways (DPWH), ang isang
proyekto (halimbawa, isang kalsada o tulay), ang COA ay magsasagawa ng
audit upang tiyakin na ang pondo na inilaan para sa proyekto ay ginamit
nang tama.
Taxation
 The process of collecting from the citizens their share for the government’s
success
Example: corporate income tax – companies doing business here in the
Philippines is subject to corporate income tax
Budget process in the Philippines
1. Budget preparation
 Refers on the determination of budgetary priorities and activities which will
serve as guidelines in formulating the budget of the different gov. agencies.
 Dito pinaplano finoformulate ng gobyerno yong mga priorities and mga
activities na gagawin nila tru the fiscal year and nakakaatulong din ito upang
malaman nila ang approxiamate na magagastos sa buong fiscal year
2. Budget authorization
 Pertains to the consideration that the legislative dept gives to the budget and
the approval of the appropriations bill.
 refers to the process by which the legislative branch (in the Philippines, this is
Congress) reviews, evaluates, and approves the proposed budget submitted
by the Executive branch.
3. Budget execution
 Considered the operational aspects of budgeting according after it has been
authorized by the legislative department
 refers to the operational phase of the budget process, where the government
actually implements and spends the funds that were previously authorized by
the legislative branch (Congress).
4. Budget accountability
 It is the process of submitting accountability reports to fiscal agencies of the
government and to congress as well
 Dito ay kinakailangan magsubmit ng mga government agencies ng
accountability report sa mga ahensya gaya ng commission on audit,
department of budget and management at sa congress para magakaroon ng
transparency or para malaman ng congress kung nagagamit nga ba ng tama
ang budget sa tamang pagagamitan nito
PRINCIPAL AGENCIES TASKED WITH FISCAL FUNCTIONS

1. Congress (lower house)
 Responsible for revenue and expenditure policies
 Aside from having its concurrence on every bill in order to be passed
for the president’s signature to become a law, the HOR has the power
to impeach certain officials, and all money bill must originate from the
lower house.
 responsible for formulating policies related to government revenue
(such as taxes) and expenditures (how public funds are spent). They
propose and review tax laws and budget proposals, which determine
the government’s financial priorities.
2. Department of Finance
 responsible for the management of the government's financial
resources and the formulation of fiscal policies
3. bureau of internal revenue (BIR)
 is a revenue service for the Philippine government, which is
responsible for collecting more than half of the total tax revenues of
the government. It is an agency of the Department of Finance, and it is
led by a commissioner.
 The BIR administers the collection of taxes, including income,
corporate, and value-added taxes, which are the primary sources of
government revenue, na ginagamit ng gobyerno para pondohan ang
mga projects na gagawin nila
4. Commission on audit
 Conducts funds and performance audit to see to it that expenditures
are in accordance with the appropriation law approved.
 Sila ang pangunahing sumusuri at naga-audit ng mga financial
transaction sa lahat ng government agencies, para malaman nila if
nagagamit ba ng tama ang mga pondo sa tamang paraan

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Fiscal administration

 Leonor briones - Refers generally to the formulation, implementation and

PRINCIPAL AGENCIES TASKED WITH FISCAL FUNCTIONS

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