BARANGAY BUDGET
PROCESS
WHAT THE LOCAL CODE
On or BeforeSAYS?
the (5th) Day of September
of each year the municipal treasurer jointly
with the municipal accountant shall issue a
certified statement covering the actual.
Income of the past year and estimates of
income of the current insuing fiscal year from
local sources for the barangay concerned.
Based on certified statement the
barangay treasurer shall submit on or before
the fifteen(5th) Day of September of each
year to the Punong Barangay the statement
covering the estimates of income and
expenditures for the past and insuing fiscal
year.
BUDGET CYCLE
BUDGET PREPARATION
AUTHORIZATION
REVIEW
EXECUTION
ACCOUNTABILITY
BUDGET
PREPARATION
• WHEN IS THE
BUDGET PREPARED?
The Punong Barangay shall prepare the
barangay budget for the coming fiscal year
upon receipt of the detailed statement of
income and expenditures From the Barangay
Treasurer on or before September 15 of each
year.
WHAT ARE THE CONTENTS
OF THE BARANGAY BUDGET?
Budget Message
Local Expenditure Program(proposed
Appropriations)
Summary of Income And Expenditure (Past
Year, Current And Budget Year).
Summary of Actual Estimated Output.
WHO PREPARES THE
BUDGET ?
The Punong Barangay with the assistance
of the Barangay Treasurer and in consultation
with the Sangguniang Barangay and Barangay
Development Council prepares the barangay
budget consisting of the following:
ESTIMATES OF
INCOME
Identify sources of revenue that
will finance the budget
STEP 1. DETERMINE
ACTUAL INCOME FROM
TAXES
SHARE FROM REAL PROPERTY TAX
BUSINESS TAX (STORES/RETAILERS)
SHARE ON SAND AND GRAVEL
MISCELLANEOUS AND OTHER TAXES
EXTERNAL SOURCES (IRA, VAT,-EVAT,
NATIONAL WEALTH, SUBSIDY FROM
LGU
1. 20% Development Fund
(Actual IRA)
2. 10 SK Federation-from total
appropriation
3. 5% MDRRF from total
Appropriation
BUDGET
AUTHORIZATION
The Sangguniang barangay shall enact
annual and supplemental budgets in
accordance with the provisions of the code.
The appropriation ordinance is the
legislative instrument authorizing the budget.
It becomes effective at the beginning of the
budget year upon its approval by majority of
the Sangguniang Barangay members and
signed by the Punong Barangay.
BUDGET REVIEW
The annual budget is submitted for review
within ten days the sanggunian concerned shall
review the barangay ordinance to ensure
compliance there of with all the budgetary
requirements and limitations provided in this
rule.
The sangguniang bayan thru the
municipal budget officer shall review the
barangay budget within 60 day.
BUDGET EXECUTION
(JANUARY –
DECEMBER)
The ordinance enacting the annual budget
shall take effect at the beginning of the
ensuing calendar year. An ordinance enacting a
supplemental budget however shall take effect
upon its approval or in the fixed herein.
The Punong Barangay Shall Be Primarily
Responsible For The Execution of the Annual
and Supplemental Budgets of the Barangay.
BUDGET
ACCOUNTABILITY
(JANUARY-DECEMBER)
The responsibility for the execution of the
annual budget and supplemental budgets and
the accountability therefore shall be vested
primarily in the Punong Barangay concerned.
The last stage of the budget process
where by the financial and physical
performance of the barangays ARFE
monitored, recorder, validated and evaluated
purposely to assess whether performance in
accordance with the targets are provided with
the corrective actions during this phase od the
budget cycle.
