Powerpoint of key consideration in budgeting

1. KEY CONSIDERATION
IN BUDGETING
MEM 630- Financial Management in
Education
THE PROCESS OF
BUDGETING

2. HIGHLIGHTS
What are the key
consideration in budgeting?
What is the process of
budgeting?
Sample of a Budget

3. KEY CONSIDERATION IN BUDGETING
• Proper planning of the School Improvement Plan
(SIP)/ Institutional Development Plan
• Sourcing of funds and other resources (whether it is
from government subsidy or private sector donations)
• Proper allocation of funds and other resources
• Actual uses of resources and their care
• Proper recording of transactions and safekeeping of all
records pertaining to the transactions
• Monitoring and controlling of uses of resources in the
interest of efficiency and effectiveness towards
achievement of desired outcomes as well as of
accountability
• Conformity with existing lawful orders and regulations
pertaining to budget

4. THE PROCESS
OF BUDGETING
Budget preparation
Budget authorization
Budget execution
Accountability

5. 1
THE BUDGET
PREPARATION
Preparation of estimates, Budget
forms and Instructions
Preparation of Revenues and
Expenditures Estimates
Review and Consolidation of Agency
Request by Department
Transmission of Department Request
to DBM
Negotiation between Department
and the DBM. Preparation of Draft
Budget
Cabinet review of Draft Budget/
President’s Approval

6. 1I
BUDGET
AUTHORIZATION
Final Budget submitted to Congress
for approval (within 30 days)
Approval of the House of
Representatives/ Senate
Signing of the General
Appropriations Act

7. EXAMPLE OF APPROVED GAA

9. IV
ACCOUNTABILITY
Management Review of
actual performance or
accomplishments in
relation to work targets
of the agencies
Submission of Budget
Accountability Reports
(BAR)
Detailed examination
of agency’s book of
accounts by resident
representative from
Commission on Audit)

10. PARTING WORDS…

11. THANK YOU!

12. REFERENCES
• (DOC) PRINCIPLES AND PRACTICES OF BUDGETING IN SCHOOL FINANCE
MANAGEMENT Explain the concept of budget, school budget and budgeting | Dr.
Carol O Ezeugbor - Academia.edu
• https://www.unicef.org/esa/media/3816/file/Guidelines-Developing-a-Education-
Budget-Brief-March-2019.pdf
• https://www.slideshare.net/BusinessFinanceTraining/budgeting-for-schools
• https://www.yourarticlelibrary.com/accounting/budgeting-accounting/budgeting-
meaning-purpose-process-and-principles/71709
• https://www.dbm.gov.ph/wp-content/uploads/2012/03/PGB-B2.pdf
• https://www.slideshare.net/ZERODELTA/budget-process-of-the-philippine-national-
government
• B5.pdf (dbm.gov.ph)