Public Financial Management Competency Program

The Philippine Normal University (PNU), in partnership with the Department of Budget and Management (DBM), is now accepting participants to join Batch 2 and 3 of the Foundation Track under the Public Financial Management Competency Program (PFMCP).

For inquiries, kindly message our page or go to this link to register: https://bit.ly/45fnk1C. Registration will be closed once the maximum number of participants is reached. Thank you.

: 𝐖𝐇𝐀𝐓 𝐈𝐒 𝐁𝐔𝐃𝐆𝐄𝐓 & 𝐖𝐇𝐘 𝐈𝐒 𝐈𝐓 𝐈𝐌𝐏𝐎𝐑𝐓𝐀𝐍𝐓?

Government budget is defined as the financial plan for a fiscal year, which shows what its resources are, and how they will be generated and used over the fiscal period.

Think of our country as one household. The government manages the estimated income, expenditures and sources of borrowings which will be used to achieve national objectives through strategized and implemented programs and projects.

Government budgeting is important as it enables the government to plan and manage its financial resources to support the implementation of various programs and projects that best promote the development of the country. Through budgeting the government can spend within its means and on the right priorities.

Know more about the basics of the Philippine Budgeting Process
Watch the full AVP of Budget 101 on the DBM Website
https://www.dbm.gov.ph/index.php/avps/cash-budgeting-system-2

Sources:
People's Proposed Budget, Page no. 43https://www.dbm.gov.ph/images/pdffiles/2021-Peoples-Proposed-Budget.pdf
Budget of Expenditures and Sources of Financing (2022), Glossary Page 4:https://www.dbm.gov.ph/wp-content/uploads/BESF/BESF2022/GLOSSARY.pdf
The Budgeting Process, Page 2:https://www.dbm.gov.ph/wp-content/uploads/2012/03/PGB-B1.pdf