SK Budgeting

This is a financial plan embodying the estimate of receipts and payments for one fiscal year operation of the SK. It shall be approved through a Resolution.

• Annual Budget

• Supplemental Budget

• Approved Budget

• Commitments

Which of the following is not among the sources of fund for the SK for budgeting purposes?

• Ten percent (10%) of the general fund of the Barangay

• Contributions, monies and all other resources received with specific purpose(s)

• Unexpended balances/budget returned to the general fund of the S

• Proceeds from fund-raising activities that are in line with CBYDP and ABYIP

As to the release of the ten percent share of the SK, JMC No. 1, s. 2019 dated January 23, 2019 provides that the Punong Barangay shall automatically release not later than

• five (5) working days upon receipt of the monthly internal revenue allotment (IRA) of the barangay

• five (5) working days after the end of the month of receipt of all other income accruing to the general fund of the barangay

• both A and B

• neither A nor B

Unexpended Maintenance and Other Operating Expenses (MOOE) and Capital Outlay (CO) balances in the SK budget shall revert to the general fund of the SK at the end of the fiscal year, and shall not thereafter be available for expenditure except by subsequent approval of the SK.

• True

• False

The following, except one, are required to allow the SK to make change(s) in the annual budget by way of a supplemental budget. Which one is not required?

• When supported by funds actually available as certified by the SK Treasurer

• If covered by a new revenue source(s)

• When estimates of new revenue source(s) are established

• None of the choices