PUBLIC FINANCE (MODULE 10)

1. How different is the budgeting process between local and national levels?

The budgeting process including development, approval, implementation and feedback. Every step is
important for residents, elected officials, and employees. Before a local government can establish and
develop a budget, they need to finish their strategic plan because it will determine how the government
can best allocate funds. While the difference of the local government budget process for the national
government involves four distrinct process or phasesinclude budget preparation. Budget authorization,
budget execution and accountability. Each phase is distinctly separate from the others but they overlap
in the implementation of the budget during the budget year. The department of budget and
management DBM is responsible for the formulation and implementation of the national budget and
the efficient and sound utilization of government funds and revenues to achieve the country's
development goals.

2. What is the role the Sanggunian play in tge financial system of the LGU?

Tge Sangguniansl's continous interaction with tge LGU's executive branch, contituents, civil society and
other actors of governance, resulting in policy actions that promote the development of the locality.
Local legislators are more knowledgeable than congress on matters of purely local concern, and in better
position to enact appropriate legislation the term "Sanggunian" suggest more that just a law making
body.

3. How is public accountability of LGU funds operationalized?

To increase public access to financial documents and transactions on local government units to ensure
transparency and accountability among LGU's. Tge organizational practices of government personnel are
central be denied that work ethics and organizational culture prevailing in the local government unit
LGU are reflections of public sector performance which in turn creates an impression on how a
particular government office performs. Alongside with the development of desirable work ethics and
good governance practices. The annual budget and finance is the area where access to information is
most likely to attract attention of citizens not only because it is where the tax payer money goes. It also
includes the financial and policy decisions that the local government will implement during a fiscal year.
All LGU's practiced similar strategies on budget planning and preparation.

4. What is the meaning of political devolution as in the case of the local government code of 1991?

National agencies or offices concerned shall devolve to local government units that responsibility for the
provision of basic services and facilities enumerated in this section within 6 months after the effectivity
of this code as used in this code, the term "devolution" refers to the act by which tge national
government confers power and authority upon the various local government units to perform specific
functions and respo sibilities.

5. Is the concept and practice of the IRA good or not for LGU's
The Internal Revenue Allotment (IRA) is a local government unit’s (LGU) it is good because it share of
revenues from the Philippine national government. Provinces, independent cities, component cities,
municipalities, and barangays each get a separate allotment.

The allotment is largely based upon the type of government they are and a formula based upon their
land area and population. IRA is sourced from a predetermined share of national government revenue.
It is also serves the purpose of decentralizing some fiscal decisions to local governments with the aim of
efficiently delivering public services to the local populace.