Policies and Guidelines in Keeping the General Accounts of the National Government

September 12, 2014

COA RESOLUTION NO. 022-14

 

WHEREAS, Section 2 (1), Article IX-D, 1987 Philippine Constitution mandated the Commission on Audit (COA) to Keep the General Accounts of the Government and, for such period as may be provided by law, preserve the vouchers pertaining thereto;

WHEREAS, Section 12, Presidential Decree No. 1445, vested the Accountancy Office (now Government Accountancy Sector) with the functions to prepare, for the Commission, the Annual Financial Report of the Government, its subdivisions, agencies and instrumentalities, including government owned and/or controlled corporations, and such other financial or statistical reports as may be required by the Commission; verify appropriations of National Government Agencies and control fund releases thereto; prepare statements on revenues and expenditures of local government units, and on their legal borrowing and net paying capacities for reclassification and other purposes;

WHEREAS, Section 7 (4), Chapter 3, Subtitle B, Title I, Book V, Revised Administrative Code of 1987, vested the Accountancy Office (now Government Accountancy Sector) with the functions to maintain the accounts of the Current Surplus of the General Fund of the national government;

WHEREAS, the Government Accountancy Sector (GAS) maintains the Registries of Appropriations and Allotments (RAPAL) to record and monitor the approved budget (appropriations) and allotments released to all agencies of the national government and submits to Congress and the President of the Philippines within one hundred twenty (120) days after the end of every fiscal year the Annual Report on Appropriations, Allotments, Obligations and Disbursements pursuant to the special provisions of the General Appropriations Act (GAA);

WHEREAS, since the registries presently maintained by the GAS are deemed inadequate to keep the general accounts, there is a need to promulgate policies to address the issue and set the framework, guidelines and procedures in the keeping of the general accounts, which should include the recording of all data pertaining to the general accounts in the appropriate registries, which are considered as the books of the general accounts of the government;

WHEREAS, the COA is vested with the authority to promulgate Accounting and Auditing Rules and Regulations under Section 2 (2) Article IX-D of the 1987 Philippine Constitution;

NOW, THEREFORE, this Commission resolves, as it is hereby resolved, to adopt and prescribe the use of the Policies and Guidelines in the Keeping of the General Accounts of the national government, a copy of which is attached as ANNEX "A" and made an integral part of this Resolution, comprising the following sections:

1. Introduction

2. Framework

3. Definition of Terms

4. General Policies

5. General Guidelines

6. Specific Guidelines

7. Annexes

8. Transitory Provisions

9. Effectivity

RESOLVED further that the GAS shall be responsible for the implementation of this Resolution and is hereby authorized to require the submission of the following: CTSHDI

1) copies of budget documents (GAA, GARO, SARO, e-Budget listing or its equivalent) from the DBM on or before the end of the 15th day of the following month pursuant to COA Circular No. 96-002 dated February 27, 1996;

2) copies of quarterly budget and financial accountability reports from the national government agencies within thirty (30) days after the end of each quarter pursuant to COA-DBM Joint Circular No. 2013-1 dated March 15, 2013, as amended by COA-DBM Joint Circular No. 2014-1 dated July 2, 2014; and

3) such other financial reports as may be necessary for the exercise of its functions pursuant to Sec. 22, P.D. 1445.

APPROVED this 12th day of September 2014.

(SGD.) MARIA GRACIA M. PULIDO TANChairperson

(SGD.) HEIDI L. MENDOZACommissioner

(SGD.) JOSE A. FABIACommissioner