BusinessMirror
  • News
    • News
    • Top News
    • Regions
    • Nation
    • World
    • Asia Today
  • Business
    • Business
    • Agri-Commodities
    • Asean Economic Community
    • Banking & Finance
    • Companies
    • Economy
    • Entrepreneur
    • Executive Views
    • Export Unlimited
    • Harvard Management Update
    • Monday Morning
    • Mutual Funds
    • Stock Market Outlook
    • The Integrity Initiative
  • Sports
  • Opinion
    • Opinion
    • Columns
    • Editorial
    • Editorial cartoon
  • Life
    • Life
    • Art
    • Design&Space
    • Digital Life
    • Journey
    • Motoring
    • 360° Review
    • Property
    • Show
    • Tech
    • Tourism
    • Y2Z
  • Features
    • Biodiversity
    • Education
    • Envoys & Expats
    • Explainer
    • Faith
    • Green
    • Health & Fitness
    • Mission: PHL
    • Our Time
    • Perspective
    • Photo Gallery
    • Science
    • Today in History
    • Tony&Nick
    • When I Was 25
    • Wine & Dine
  • BMPlus
    • BMPlus
    • SoundStrip
    • Live & In Quarantine
    • Bulletin Board
    • Marketing
    • Public Service
    • CSR
  • The Broader Look

Today’s front page, Saturday, September 23, 2023

Subscribe
BusinessMirror
BusinessMirror
  • News
    • News
    • Top News
    • Regions
    • Nation
    • World
    • Asia Today
  • Business
    • Business
    • Agri-Commodities
    • Asean Economic Community
    • Banking & Finance
    • Companies
    • Economy
    • Entrepreneur
    • Executive Views
    • Export Unlimited
    • Harvard Management Update
    • Monday Morning
    • Mutual Funds
    • Stock Market Outlook
    • The Integrity Initiative
  • Sports
  • Opinion
    • Opinion
    • Columns
    • Editorial
    • Editorial cartoon
  • Life
    • Life
    • Art
    • Design&Space
    • Digital Life
    • Journey
    • Motoring
    • 360° Review
    • Property
    • Show
    • Tech
    • Tourism
    • Y2Z
  • Features
    • Biodiversity
    • Education
    • Envoys & Expats
    • Explainer
    • Faith
    • Green
    • Health & Fitness
    • Mission: PHL
    • Our Time
    • Perspective
    • Photo Gallery
    • Science
    • Today in History
    • Tony&Nick
    • When I Was 25
    • Wine & Dine
  • BMPlus
    • BMPlus
    • SoundStrip
    • Live & In Quarantine
    • Bulletin Board
    • Marketing
    • Public Service
    • CSR
  • The Broader Look
  • Banking & Finance

DBM cites prompt release of budget

  • David Cagahastian
  • May 12, 2016
  • 2 minute read

About a third of the cash appropriations for the various government agencies amounting to P650.26 billion have already been released as of April, figures posted on Thursday at the Department of Budget and Management (DBM) web site indicated.

The release of cash to the various government agencies accounted for 31.4 percent of the total appropriations of P2.07 trillion for 2016 for the various government agencies, including those in the legislative and judiciary branches.

The total appropriations of P2.07 trillion for the departments under the General Appropriations Act (GAA) is separate from the P930.69 billion in automatic appropriations. The two items added together constitutes the P3.001-trillion national budget for 2016.

According to the figures released by the DBM, of the total P650.26 billion released in cash to the departments, a total of P595.28 billion, or 92 percent, was actually spent, leaving behind some balance in cash and already in the possession of the government agencies.

Of the four months in fiscal data from the DBM, the single biggest cash disbursement was made in March, with P200.69 billion actually released to the various government agencies to meet various obligations.

Malacañang officials said accelerated expenditures in March should be seen as politically neutral and quelled allegations the funds were used to underwrite the presidential campaign of Liberal Party standard-bearer Manuel A. Roxas II.

Presidential Communications Secretary Herminio B. Coloma Jr. said, while the government has released to the various government agencies their cash appropriations for 2016, this did not mean the funds have all been spent.

Under the new rules of the DBM, the GAA  shall already be the release document that serves as the legal basis for the release of the appropriations to the corresponding government agency even at the start of the fiscal year.

The cash to be credited to the government agency’s bank account would still have to be effected by the DBM and the actual spending still has to follow procurement and payment guidelines.

The guidelines include schedules of disbursements of cash based on the completion status of infrastructure projects, and schedules of disbursements of cash for salaries of government employees.

“These releases are based on the General Appropriations Act, and it is reckless and irresponsible to say that the budget was used during the campaign. These allegations are baseless and our citizens can check in the corresponding web sites of each government agency, wherein they are all required to disclose all the disbursements which they make,”Coloma said.

 

0
0
0
0
Share 0
Tweet 0
Pin it 0
Share 0

Know more

Know more
  • 2 min
  • Banking & Finance
  • Companies
  • Government
  • Migrant Workers
  • Mutual Funds

Pag-IBIG members save record-high ₱59.52B in Jan to Aug 2023, up 11%; MP2 Savings reach ₱31.50B, up 16%

  • BusinessMirror
  • September 23, 2023
Know more
  • 2 min
  • Banking & Finance
  • Economy
  • Top News

BSP keeps rates, but signals a hike in November

  • Cai U. Ordinario
  • September 22, 2023
Construction of a bridge across the bay. Construction equipment on the bridge, top view. Siargao, Philippines.
Know more
  • 2 min
  • Banking & Finance
  • Government

Zero tariff for construction items OK’d

  • Samuel P. Medenilla
  • September 22, 2023
Know more
  • 2 min
  • Banking & Finance

AEV lists p17.45B retail bonds at PDEX

  • VG Cabuag
  • September 22, 2023
Know more
  • 1 min
  • Banking & Finance
  • Government

SSS-Las Piñas to issue notices of violation to errant firms

  • Cai U. Ordinario
  • September 22, 2023
Know more
  • 2 min
  • Banking & Finance

Customs seizes vessel with fuel worth P5.8M

  • Cai U. Ordinario
  • September 22, 2023
Know more
  • 3 min
  • Banking & Finance
  • Column

KYM (Know Your Members)

  • Octavio Peralta
  • September 22, 2023
Know more
  • 3 min
  • Banking & Finance

Miners vow to support new mining tax regime

  • Jonathan L. Mayuga
  • September 22, 2023
Know more
  • 2 min
  • Banking & Finance

‘Cash still king’ prompts app operator’s adjustment

  • Andrea E. San Juan
  • September 21, 2023
Know more
  • 1 min
  • Banking & Finance
  • Government

SSS runs after employers with ₱1.2M in delinquencies

  • Jasper Y. Arcalas
  • September 21, 2023
Know more
  • 2 min
  • Banking & Finance

‘Health insurance growing more vs total sum insured’

  • Jasper Y. Arcalas
  • September 21, 2023
Know more
  • 2 min
  • Banking & Finance

CIMB Bank cites tripling revenues via new clients

  • Cai U. Ordinario
  • September 21, 2023
Know more
  • 2 min
  • Banking & Finance

Court convicts ex-rural bank execs for violating NCB law

  • Cai U. Ordinario
  • September 21, 2023
Know more
  • 2 min
  • Banking & Finance

PDIC generates more than P171.9M from assets sales

  • BusinessMirror
  • September 20, 2023
Know more
  • 2 min
  • Banking & Finance

LBP fuel subsidy to resume after poll-ban free pass

  • Jasper Y. Arcalas
  • September 20, 2023
Know more
  • 3 min
  • Banking & Finance

EU tariffs to decarbonizeAsean exports–Unesco

  • Cai U. Ordinario
  • September 20, 2023
Know more
  • 2 min
  • Banking & Finance

DAP to help Pagcor ease into pure-regulatory role

  • Jasper Y. Arcalas
  • September 20, 2023
George S. Chua - FINEX Free Enterprise
Know more
  • 3 min
  • Banking & Finance
  • Column

Factors affecting decisions

  • George S. Chua
  • September 20, 2023
Know more
  • 2 min
  • Banking & Finance

New fiscal regime for mining looms

  • Jovee Marie de la Cruz
  • September 20, 2023
Know more
  • 2 min
  • Banking & Finance

BTr awards T-bonds as yields ease on inflation

  • Jasper Y. Arcalas
  • September 20, 2023

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe

BusinessMirror
  • About Us
  • Contact Us
  • Advertise with us
  • Privacy Policy
  • Cookie Policy
  • Podcast
  • Text-Only Homepage

Input your search keywords and press Enter.