THE Department of Budget and Management (DBM) said its updated Budget Operations Manual (BOM) for local government units (LGUs) will help provinces, cities, and municipalities adopt an eBudget system developed with the Asian Development Bank (ADB).
The manual will help LGUs “improve and systematize the methods, techniques, and procedures employed in budget preparation, authorization, execution, and accountability,” as well as provide “technical assistance in local government budgeting,” the DBM said in a circular issued on Tuesday.
It said that the previous version of the manual is from 2016.
“However, there have been significant developments in local government budgeting which call for the need to update the BOM for LGUs, 2016 Edition,” the DBM added.
The manual will include discussions on local taxation and fiscal matters, an enhanced framework for policy-based budgeting, and updated local budget forms.
The DBM also said that the manual will introduce the cash budgeting system, which LGUs “may adopt to instill fiscal discipline and ensure efficient and timely delivery of public service.”
According to the DBM, the electronic Budget (eBudget) System for LGUs will assist local governments in preparing the different forms required in the budgeting process. The system will also facilitate the online submission of annual or supplemental budget reports and other reports.
The eBudget System for LGUs was developed with technical assistance from the ADB.
“The Budget System also facilitates the online submission of reports to the electronic Statement of Receipts and Expenditure (eSRE) System of the Department of Finance – Bureau of Local Government Finance by the Local Budget Officer,” it said.
The system will be made available at no cost to LGUs interested in digitizing their budget processes. — Keisha B. Ta-asan