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Principal Agencies Tasked with Public Financial Administration

ROSELLE Y. BONGGOYAN
NANCY S. JELIANGGAO
RITZEL LYN B. NOMIO
IAN C. BELTRAN
MOSES S. VILLAGONZALO
MITCHEL E. ZAMBRANO
MARC CHITO S. ITAO
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PUBLIC FISCAL ADMINISTRATION

 Is the act of managing incoming and outgoing

monetary transactions and budgets for
governments, educational institutions, non Profit
Organizations, and other public service entities
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Principal agencies tasked with fiscal functions

1. Congress (lower House)

 Responsible for revenue and expenditure policies.
Aside from having its concurrence on every bill in
order to be passed for the President’s signature to
become a law, the House of Representatives has the
power to impeach certain officials, and all money
bills must originate from the lower house
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2. Department of Finance

Revenue generation and collection

Fund custody
Disbursements

Keeping of accounts
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2.1 Bureau of Internal Revenue

Mandate
Comprehend the assessment and collection of all
national internal revenue taxes, fees and charges
and the enforcement of all forfeitures, penalties,
and fines connected therewith, including the
execution of judgments in all cases decided in its
favor by the court of tax appeals and the ordinary
courts
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2.2
Functions
 The
prevention and suppression of smuggling and other frauds
upon the customs
 Thesupervision and control over the entrance and clearance of
vessels and aircraft engaged in foreign commerce
 Theenforcement of the tariff and customs laws and all other laws,
rules and regulations relating to the tariff and customs
administration
 The supervision and control over the handling of foreign mails
arriving in the Philippines, for the purpose of the collection of the
lawful duty on the dutiable articles thus imported and the
prevention of smuggling through the medium of such mails;
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2.3 Bureau of the Treasury

Mandate (Under executive order no. 449)

 Assist in the formulation of policies in borrowing, investment and
capital market development
 Formulate adequate operation guidelines for fiscal and financial
policies
 Assist in the preparation of by the government agencies concerned
of an annual program for revenue and expenditure targets,
borrowing levels and cash balances of the national government
 Act as principal custodian of financial assets of the national
government, its agencies and instrumentalities
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3. Department of Budget and Management

Review of estimates and fiscal policy studies in close

consultation with the national economic development
authority
Accountable for carrying out the President’s
responsibility of preparing the budget
Formulate and implement the national budget and
ensuring the efficient and sound utilization of
government resources to achieve the country’s
development objectives
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4. Commission on Audit

 Conducts fund and performance audit to see it that

expenditures are in accordance with the appropriation law
approved.
 Promulgate accounting and auditing rules and regulations
including those for the prevention and disallowance of
irregular, unnecessary, excessive, extravagant or
unconscionable expenditures, or uses of government funds
and properties
 Submit annual reports to the President and the Congress
on the financial condition and operation of the government
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5. National Economic and Development Authority

 Provideshigh-level advice to policymakers in congress and

executive branch
 Review, evaluation, and monitoring of infrastructure projects
identified under the comprehensive and integrated
infrastructure program (CIIP) consistent with the
government’s thrust of increasing investment spending for
the growing demand on quality infrastructure facilities
 Undertaking of short-term policy reviews to provide critical
analyses of development issues and policy alternatives to
decision-makers
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6. Bangko Sentral ng Pilipinas
Responsibilities
 The BSP provides policy directions in the areas of money,
banking and credit. It supervises operations of banks and
exercises regulatory powers over non-bank financial
institutions with quasi-banking functions.
 The BSP formulates and implements monetary policy aimed at
influencing money supply consistent with its primary objective
to maintain price stability
 The BSP has the exclusive power to issue the national currency.
All notes and coins issued by the BSP are fully guaranteed by
the Government and are considered legal tender for all private
and public debts.
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7. Development Budget Coordination
Committee- composed of DBM, DOF, BSP,
NEDA and Office of the President
 recommend for the presidential approval the level of the annual
government expenditure program and the ceiling of government
spending for economic and social development, national defense,
general government and debt service

 Recommend to the president the proper allocation of

expenditures for each development activity between current
operating expenditures and capital outlay

 Recommend to the president the amount set to be allocated for

capital outlay under each development activity for various capital
or infrastructure projects
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