Barangay Budgeting

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2012 ANNUAL BUDGET OF BARANGAY ISOK II An Analysis (by: Abraham L. Cuevas) INTRODUCTION Barangay Isok II in the municipality of Boac, Marinduque is one of the barangays in the Poblacion area. This review will present an overview of the proposed Barangay Budget of Barangay Isok II for CY 2012. This paper will also tackle details on the budget preparation, budget authorization, budget review, and budget execution and accountability. OVERVIEW OF THE BARANGAY 2012 BUDGET On October 7, 2011, the Sangguninag Barangay of Isok II passed Barangay Appropriation Bill No. 2012-01 with the title An Ordinance Appropriating Funds for Barangay Isok II (Annex A). A barangay budget comprises estimates of income, total appropriations covering…show more content…
True to the case of Barangay Isok II, prior to their budget preparation, the Barangay Treasurer first secured the estimates of income and total appropriations covering current operating expenditures and capital outlays of the barangay, which are the components of a barangay budget. After such, the Punong Barangay, with the assistance of the Barangay Treasurer, prepared their barangay budget for the year 2012. Usually, estimated savings at the end of the current year forms part of the beginning balance for the budget year. It includes projected balances of any appropriation which remain free of any obligation or encumbrances and which are still available at the end of the current year after the satisfactory completion, or the unavoidable discontinuance or abandonment of the work, activity or purpose for which the funds were authorized. The mandatory obligations that should be provided in the barangay annual budget was also followed, which are the following: • Appropriations for development projects of not less than 20% of the total IRA of the barangay for the budget year (Development Fund); • Appropriations for Sangguniang Kabataan (SK) programs, projects and activities equivalent to 10% of the general fund of the barangay for the budget year (SK Fund); • Appropriations for
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