Professional Documents
Culture Documents
LOGO
Background of Public
Financial Management
(PFM)
in the Philippines
Company
LOGO A. The Legal Framework for PFM
B. THE INSTITUTIONAL
FRAMEWORK FOR PFM
Company
LOGO Four Phases of the Budget
Process or the Budget Cycle
a) Budget Preparation
b) Budget Legislation
c) Budget Execution
d) Budget Accountability
Company
LOGO a) Budget Preparation
Executive branch consolidates the annual
budget proposal of the executive,
legislative, and judicial branch of the
government.
estimation of revenues
determination of budgetary priorities
consistent within the MTPDP
translation of approved priorities into
expenditure levels
Company
LOGO Submission of the Budget
President Submits
Budget Proposal to
Budget
Budget Congress
Call Consolidation
DBCC
approves Budget Approval by
budget Hearings President and
parameters Cut-off for Cabinet
Inclusion of
Items in Budget
Proposal
Company
LOGO b) Budget Legislation
House Approval
President
& Submission Senate
Signs
to Senate Approval
into Law
Company
LOGO c) Budget Execution Flow
Chart
Agency/DBM Agency
prepares ABM implements
DBM releases
SARO & NCA
Company
LOGO d) Budget Accountability
Allocative Efficiency
spending on the “right things” or “right
priorities”
Operational/Technical Efficiency
obtaining the best value for money
Company
LOGO Attributes of Good
Performance Indicators
S – Specific
M – Measurable
A – Achievable
R – Relevant
T – Time-bound
Company
LOGO
Attributes of Good
Performance Indicators
C – Clear
R – Relevant
E – Economic
A – Adequate
M – Monitorable
Company
LOGO
2) Unpredictability of funding,