SK Seminar Session 1-3

Section 20(b) of the IRR of RA No. 10742 SK shall have _____________________in its operations, disbursements and encashment and deposits of its funds, income and expenditures.

• A. SK Funds

• B. Accounting Plan

• C. Financial Independence

• D. Annual Barangay Youth Investment Program (ABYIP)

What is the legal basis of the GRANT OF HONORARIUM TO SK OFFICIALS?

• A. RA 7160; Sec 4 and Article IX D of 1987 Philippine Constitution

• B. Section 16 of the SK Reform Act of 2015 (RA No. 10742)

• C. Joint Memorandum Circular (JMC) No. 1 series of 2019

• D. Section 4 of RA No. 11768

The __________ shows the workflow of SK transactions pertaining to budget; receipts/collections and deposits; disbursements/payments of SK fund; supplies and materials, and property and equipment; recording of financial transactions; and preparation of financial statements and other reports.

• A. SK Budgeting Plan

• B. SK Accounting Plan

• C. SK Procurement Plan

• D. SK Investment Plan

Honorarium Monitored by the SK Treasurer (Budget Registry for PS) and Recorded by Budget Monitoring Officer in the Appropriate Registers. True or False?

• True

• False

Honorarium shall not exceed the rate equivalent to _____ in the salary schedule of LGU.

• A. Salary Grade (SG) 9, Step 1

• B. Salary Grade (SG) 9, Step 3

• C. Salary Grade (SG) 10, Step 1

• D. Salary Grade (SG) 9, Step 2

This account is used to record the amount of advances to SK Officials for official travel.

• A. Advances to SK Officials

• B. Advances to SK Treasurer

• C. Refund of Cash Advances

• D. Travelling Expense

What stages in the Budgeting Process of JMC No. No. 1 series of 2019 are the focus of HFTSK?

• A. Budget preparation and Budget execution

• B. Budget preparation and Budget Review

• C. Budget execution and Accountability Reports

• D. Budget authorization and Accountability Reports

Funds Received for Specific Purpose shall be recorded and monitored in the Registry of Budget Commitments, Payments and Balances (RBCPB)

• True

• False

Unexpended balances/budget for CO shall continue and remain valid until fully spent, reverted, or the project is completed. True or False?

• True

• False

This Circular was issued to prescribe the guidelines on the appropriation and release of the SK fund, provide for the planning and budgeting process for the SK, and emphasize the concomitant posting requirements to enhance transparency and accountability.

• A. JMC No. 1 series of 2019

• B. RA No. 10742

• C. COA Circular 2022-004

• D. RA NO. 11768