Professional Documents
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Educ205N-A-Fiscal Management of Educational Institution: DATE/TIME: 3:30-7:30 PM Activity 1
Educ205N-A-Fiscal Management of Educational Institution: DATE/TIME: 3:30-7:30 PM Activity 1
Educ205N-A-Fiscal Management of Educational Institution: DATE/TIME: 3:30-7:30 PM Activity 1
INSTITUTION
DATE/TIME: 3:30-7:30 PM
ACTIVITY 1
b. Educational Institution
Is responsible for the systematic transmission of knowledge, skills and
cultural values within a formally organized structure.
A place where people of different ages gain an education, including
preschools, childcare, elementary schools, and universities.
An organization which carries out educational activity.
A place where people of different ages gain an education including
preschools, childcare, elementary schools, and universities.
• It is one of the most influential institutions in contemporary societies.
Every nation in the world is equipped with some form of education system,
though those systems vary greatly.
• Education is a social institution through which a society’s children are
taught basic academic knowledge, learning skills, and cultural norms.
• John J. Macionis
• It is the social institution through which society provides its members
with knowledge, including basic facts, job skills, and cultural norms and
values.
FUNCTIONS OF EDUCATIONAL INSTITUTION SOCIALIZATION:
• Technologically simple societies look to families to teach skills and
values and thus to transmit a way of life from one generation to the next.
• As societies gain more complex technology, the school became the
first formal agency which exposes the child to the rules of the larger
society.
• In primary school, children learn language and basic mathematical
skills. In addition, all educational institutions teaches cultural values and
norms.
• Here the child learns to recognize and obey rules, learn to behave in
group settings, sit quietly and listen to teachers, participate in social
events, and accept responsibilities.
c. Fiscal Autonomy
Is a guarantee given by the Constitution to certain units of the
government. It is intended as a guarantee of separation of powers and of
independence from political agencies. The units that have been given
fiscal autonomy are the constitutional commissions, the ombudsman and
the judiciary. The language used in the grant of the guarantee is almost
identical for all three units. The Supreme Court jealously guards fiscal
autonomy.
The guarantee for the Constitutional Commissions says, “The
Commission shall enjoy fiscal autonomy. Their approved annual
appropriations shall be automatically and regularly released.” For the
Ombudsman it says, “The Office of the Ombudsman shall enjoy fiscal
autonomy. Its approved annual appropriations shall be automatically and
regularly released.” The provision for the judiciary has an addition not
found in the other two: “The Judiciary shall enjoy fiscal autonomy.
Appropriations for the Judiciary may not be reduced by the legislature
below the amount appropriated for the previous year and, after approval,
shall be automatically and regularly released.”
There is a similar provision for local governments although the phrase
fiscal autonomy is not used. It says: “Local government units shall have a
just share, as determined by law, in the national taxes which shall be
automatically released to them.” The Supreme Court has had the
opportunity to explain the meaning of the phrase “automatically and
regularly released.”
d. Fiscal Dependency
e. Fiscal Policy Formulation
Fiscal policy are "measures employed by governments to stabilize the
economy, specifically by manipulating the levels and allocations of taxes
and government expenditures. Fiscal measures are frequently used in
tandem with monetary policy to achieve certain goals. In the Philippines,
this is characterized by continuous and increasing levels of debt and
budget deficits, though there have been improvements in the last few
years.
The Philippine government's main source of revenue are taxes, with
some non-tax revenue also being collected. To finance fiscal deficit and
debt, the Philippines relies on both domestic and external sources.
f. Fiscal Revision
Fiscal Revision is generally undertaken to improve the efficiency of tax
administration and to maximise the economic and social benefits that can
be achieved through the tax system. A tax itself can be defined as ‘a
financial charge or other levy imposed upon a taxpayer (an individual or
legal entity) by a state, or the functional equivalent of a state’
g. Budget Planning
Budgetary planning is the process of constructing a budget and then
utilizing it to control the operations of a business. The purpose of
budgetary planning is to mitigate the risk that an organization's financial
results will be worse than expected. The first step in budgetary planning is
to construct a budget. This is accomplished by engaging in the following
tasks, which are presented in their approximate order:
1. Obtain strategic direction from the board of directors. This step is
needed to set the general direction of the plan, such as to add a
new product line or to terminate a subsidiary.
7. Once all parties are satisfied with the budget model, the board of
director’s signs off on it and the accounting department loads it into
the accounting software, resulting in budget versus actual financial
statements.
h. Budget Designing
Means the preliminary estimated design and construction cost
developed for the Project, which is established after completion of the
Preliminary Design Report and before work on the final design.
A budget is a statement of the amount of money that is available to
spend over a period of time, or on a specific thing, such as a building. It
may include an outline plan for how that money will be spent, and a
breakdown of the items it will be spent on.
Budgets for construction projects help determine what is affordable and
should be set as early as possible. It is important that they are based on
evidence and are realistic.
i. Budget Preparation
A full understanding of the budget planning and preparation system is
essential, not just to derive expenditure projections but to be able to
advise policymakers on the feasibility and desirability of specific budget
proposals, from a macroeconomic or microeconomic perspective. It is
much easier to control government expenditures at the "upstream" point of
budget preparation than later during the execution of the budget.
Budget preparation is a process with designated organizations and
individuals having defined responsibilities that must be carried out within a
given timetable. This process is normally established and controlled by a
legal and regulatory framework. While generally sharing broadly common
procedures, budget preparation (and execution) systems do exhibit
differences depending on their historic origin.
To understand the budget preparation process in a given country, it is
important to:
Assess the basic soundness by judging the budget preparation system
against certain internationally accepted standards or "budget principles";
Know where to find the rules governing the budget preparation process;
and
From those rules, identify who has the responsibility for what elements of
the budget preparation process.
j. Budget Hearing
A budget hearing is a meeting where members of the public can sit in
on talks regarding an organization’s budget. In most cases, nonprofit
companies or government agencies and institutions are common users of
these hearings. A city or school, for example, may hold a public budget
hearing to discuss certain aspects of upcoming projects and expenditures.
The public can usually question or make comments on the budget and its
items. Budgets typically relate to taxes, making the budget important to
many individuals.
An annual budget hearing is often the most common type of meeting.
This is standard as government agencies make plans each year for taxes,
expenditures, and appropriations. Holding an annual budget hearing also
allows the agency to have enough information on hand to accurately
discuss financial obligations. Tax changes may occur due to previously
passed legislation or new requirements. Discussion on the use of these
taxes may be necessary to ensure the organization or institution uses the
new funds properly.
The attending public may have concerns or even protests regarding a
budget. For example, a budget hearing may include talk on salary
increases for board members or perks for certain members. This often
creates difficult budget hearings as some may not believe the individuals
earned these increases. Other times, attendees may dispute the use of
funds or changes to the government agency or organization’s operations.
Debate about the use of funds can be quite heated as different individuals
have different ideas for the budget.
k. Budget Presentation
A budget presentation is the report of the budget to be used or has
already been used by an entity for a particular period of time and the
allocation of the budget, which will be divided to all the operational needs
of an entity. The inclusions of a budget presentation depends on the
nature of the organization using it, the sources of the budget, and the
needs that are needed to be supplied in a specific time duration.
4. The Power of Elected Officials resides from the People who installed them to
Power. Expound on this innate rule.
Black’s Law Dictionary defines sovereignty as “the supreme, absolute,
and uncontrollable power by which any independent state is governed.” It is
likewise “the paramount control of the Constitution and frame of government
and its administration.”
“We, the sovereign Filipino people, imploring the aid of Almighty God,
in order to build a just and humane society and establish a government that
shall embody our ideals and aspirations, promote the common good,
conserve and develop our patrimony, and secure to ourselves and our
posterity the blessings of independence and democracy under the rule of law
and a regime of truth, justice, freedom, love, equality, and peace, do ordain
and promulgate this Constitution.”
5. Taxes are the lifeblood of nation.
Without revenue raised from taxation, the government will not survive,
resulting in detriment to society. Without taxes, the government would be
paralyzed for lack of motive power to activate and operate it.