Fiscal management refers to the process of planning, directing, and controlling the monetary resources of a government or organization. It aims to maintain financial records and procedures that provide protection for resources while ensuring efficiency. Key aspects of fiscal management include budget planning and monitoring, procurement and allocation of funds, and producing financial reports. Good fiscal management involves proper record keeping and controlled spending to prevent unnecessary expenses, while poor fiscal management lacks oversight and can cause an organization to go over budget. The Government Procurement Reform Act establishes rules for public procurement in the Philippines, based on principles of transparency, competitiveness, and accountability.

1. LOCAL FISCAL
MANAGEMENT
Report by: MELISSA BAYLON-
PERLAS
Subject: Theory and Practice in
Public Administration

2. WHAT IS FISCAL
MANAGEMENT?
-Is the process of planning, directing and
controlling financial resources of an
organization.
-Refers to money within a government
entity
-It is the process of keeping an
organization running efficiently within its
allotted budget.
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3. FISCAL MANAGEMENT GOALS
To maintain fiscal records and
procedures that provides protection for
the resources as well as records which
generate economy, effectiveness and
efficiency of the operation that relate to
the budget of the agency.
To improve the way agency operates
by properly planning, recording and
performing procedures that relate to the
budget.
This involves a variety of tools,
including budget spreadsheets,
accounting, and guides outlining
procedures for an agency.
This Photo by Unknown Author is licensed under CC BY-SA

4. AREAS OF FISCAL
MANAGEMENT
Procurement of Funds
– it is the process of finding and
acquiring goods, services or works from an
external source
Allocation of funds
– the process of fair distribution of
funds assigned to a particular item
Monitoring their use in the interest of
accountability
- to be responsible for their actions and
decisions, and having the obligation to report
about it anytime
Producing financial reports for the relevant
stakeholders
- refers to an openness with regards to This Photo by Unknown Author is licensed under CC BY

5. FISCAL MANAGEMENT PROCESS
Planning the budget
Formal review and approval of the
budget
Implementing the budget
Monitoring and evaluating the
expenditure of funds
Communication with the public
about how funds are used
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6. WHAT IS THE
IMPORTANCE
OF FISCAL
MANAGEMEN
T?
Helps organizations in financial planning
Assist organizations in planning and
acquisition of fundsHelps organizations in effectively utilizing
and allocating the funds received or
acquiredAssist organizations in making critical
financial decisions
Helps in improving the profitability of
organizations
Increases the overall value of the
organization
Provides economic stability
Encourages employees to save money,
which helps them in personal financial
planning

7. CHARACTERISTI
CS OF FISCAL
MANAGEMENT
POOR FISCAL MANAGEMENT –
indicated by a lack of record-
keeping and unnecessary or
unplanned expenditures that
can cause a department to go
over budget or fail to meet its
objectives
GOOD FISCAL MANAGEMENT
– involves recording all fiscal
transactions in checks- and-
balances system that reduces
mistakes or omissions that
might lead to surprise budget
overages
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8. FISCAL MANAGERS
SHOULD ENSURE THAT:
All financial regulations and
procedures are complied with.
All financial transactions are recorded
accurately.
Adequate controls are in place to
ensure that expenditures do not
exceed income
Only authorized expenditures are
incurred

9. GOVERNME
NT
PROCUREM
ENT
REFORM
ACT –
RA9184
(R.A.) 9184, otherwise known as the
“Government Procurement Reform Act,”
for the purpose of prescribing the
necessary rules and regulations for the
modernization, standardization, and
regulation of the procurement activities
of the Government of the Philippines
(GoP).

10. PRINCIPLES
Transparency
Competitiveness
Procurement process
System of accountability
Public monitoring

11. 5 FISCAL
MANAGEMENT
TECHNIQUES Regular cash flow management Most
businesses are not able to forecast their cash
flow, which reduces their ability to anticipate
shortfalls in the future and correct them. To
improve your financial position, it is
significant to spend time on regular
management and analysis of cash flow.
 Timely & accurate financial statements It is
seen that the preparation of financial
statements is often outsourced and used
mainly for the purpose of tax computation.
Creating timely, accurate and relevant
financial statements can help in decision
making and validating those decisions.
 Key Financial Indicators In today's economy,
you need to be proactive in ascertaining your
business' financial position and knowing
whether things are going according to plan.
KPIs make life a lot easier by signalling the This Photo by Unknown Author is licensed under CC BY-SA-NC

12. 5 FISCAL MANGEMENT
TECHNIQUES
 Realistic Operating Budget In today's
dynamic environment, your operating budget
is your measurement tool for success. It
drives pricing and profitability, and therefore
has to be realistic and meaningful.
Updated Systems & Processes Having proper
systems and processes in place helps run
things in the fastest, most effective and
efficient way possible. Vital financial
procedures can be reviewed for credit, billing
and collection. Updated systems can help
avoid repetitive and time consuming activities
and speed things up which invariably
contributes to improved financial position of a
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13. WHO CAN DO
THIS???
A good Finance Team has to work to
implement standardization to reduce
costs and result in profit
maximization.
So, Taking care of these factors gives
improved financial position by
ensuring futuristic planning and
security through longer time frames.