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Public finance is the study of how governments raise and spend money to provide public goods and services, and how to manage their finances effectively.
It is the use of computer networks to facilitate transactions involving the production, distribution, and sale and delivery of goods and services in the marketplace.
For 2020 budget, the treasury bill rate that we used is 5% to 6%.
The government allotted PhP 18.4 B to support farmers and fishermen.
Expenses paid by the issuer directly related to the authorization, sale, and issuance of bonds.
Budgets are an integral part of _______________ any business efficiently and effectively.
Detachable portions of a bond presented by its holder to bond issuer’s paying agent to document interest due
Macroeconomic assumptions are important in the preparation of national budget.
A plan of the what the government intends to have as expenditures for the whole year
The process in which, at the end of one fiscal year, appropriation authority for previously-approved encumbrances and un-expended grant and capital funds are carried forward to the next fiscal year.
A rate which, when applied to the coming year’s assessable base, exclusive of the estimated assessed value of property appearing on the tax rolls for the first time (new construction), will produce tax revenue equal to that produced in the current tax year.
Expenditure categories within a program area that relate to specific organizational goals or objectives.
The importance of budgeting cannot be understated
Irrigation development is also under Peace and national security in the national budget.
The investment requirements in terms of pesos in 2020 is greater than 2021
BIR target collection for FY 2020 national budget in terms of peso
In the 2020 budget, government allotted billions and billions of pesos for corona virus pandemic
Individuals and families can have budgets
___________ is the main revenue source for governments.
The mandate of Department of Budget and Management is for effective and efficient management of government resources.
The process by which a stream of tax liabilities becomes incorporated into the price of an asset.
President George W. Bush's stated budget deficits totaled about $2 trillion. But he added about $15 trillion to the debt
Corporate budgets are essential for operating at efficiency.
No budget was allotted for Bangsamoro Autonomous Region because they have their own form of government.
A legal contract between the county government or an agency as employer and a certified representative of a recognized bargaining unit for specific terms and conditions of employment; e.g., hours, working conditions, salaries, or employee benefits.
A payment of money imposed upon new property developments as a condition of approval from the county.
Peace and national security covers the judiciary in the national budget.
Total borrowings to finance the FY 2020 national budget
Build, build , build program was under Department of Health
This includes the preparation, passing and implementation of government budget and various government policies.
Current acting secretary of DBM
For 2021, Philippines is aiming for 11.5 growth rate
President Manuel L. Quezon is a commonwealth president and not democratic president.
BIR belongs to the cabinet of the office of the President
A sale of municipal securities by an issuer to the underwriter offering the best bid (lowest net or true interest cost) in open competitive bidding.
Cash are an integral part of running any business efficiently and effectively.
Group and families can have budgets.
Study of finance related to government entities.
A special fund, often held by the trustee or other fiduciary, into which the net proceeds of an issue are deposited and are to be used to pay project costs.
Failure by the issuer to pay the principal or interest due on a bond, or failure to fulfill other agreed upon legal and contractual obligations.
A country’s financial position can be evaluated in much the same way as a business’ ___________________.
Goods that purchased by the high income group with higher taxes on
The U.S. Treasury must sell Treasury bonds, bills, and notes to raise the money to cover the deficit and fund regular government operations.
LTO target collection for FY 2020 national budget in terms of peso
This is a source of ____________ for the government.
International institution that provides loans and grants to the government
A funding source for the Capital Budget that is provided for annually within the Operating Budget from general, special, or enterprise revenues.
Balance means profits are anticipated
A special taxing district created to finance the costs of infrastructure improvements necessary for the development or redevelopment of land of high priority to the county.
A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and on a periodic basis.
Philippines got a good credit standing due to its downward trend in national government debt from 41.9% to 40.8%.
Build, build , build program is under DPWH and DOTR.
Payment made to employees in return for services performed.
Budgeting is a wonderful tool for managing your finances, but many people think it's not for them.
Cash spending increases the amount of money in the economy.
DBM secretary from 2016 to 2019
If the government has less expenditures than it collects in taxes, there is a _____________.
Public finance is the management of a country’s revenue, ___________, and debt load through various government and quasi-government institutions.
Specific factors affecting ____________________ expenses are addressed and monitored.
An analytical technique that compares the costs and benefits of proposed programs or policy actions.
Bureau of Treasury is under Department of Finance
Everything that a government actually spends money
Fill up the gap when public expenditures exceeds public income
A fund established to finance and account for the acquisition, operation, and maintenance of governmental facilities and services that are wholly or partially supported by user charges/fees
We are using Dinar foreign exchange rate in the preparation of annual budget.
. Expenditures are everything that a government actually spends money on, such as social programs, education, and __________.
Countries in the developing world are expected to grow at 4.7 % in 2020
Proposed Budget for 2020 is PhP 4.100 B
Accounting entities for assets the county does not own but must use for certain purposes, such as escrow de-posits held by the county and retiree group insurance reserves.
Asia region is also expected to grow by 4.7%
Initially, deficit spending and the resultant debt will boost economic growth
Deficit Budget means profits are anticipated.
Specific factors affecting potential expenses are addressed and monitored
A form of short-term tax-exempt debt issued by state and local governments that matures within a short period (less than 365 days) from the date of Issue.
The debt is the accumulation of each year's deficit
A static budget remains unchanged over the life of the budget
Social Services got the highest share in 2020 budget
Department of Budget and management was created on
Inflation rate for the year 2019 as set by DBM range of 2.7 to 3.5.
The main component of public finance related to collecting
Philippine National Police approved budget for FY 2020
Under National Health Insurance there are premiums to be shouldered by the government
Assets held by the county in a trustee capacity or as an agent for individual private organizations, other governmental units, and/or other funds.
A tax levied on the purchase of a particular commodity.
They may demand higher interest rates to offset any perceived increased risks.
Corporate budgets are essential for operating at peak efficiency.
Former name of DBM
Budgets are developed for all the different subsidiaries, divisions, and departments within an organization. For a manufacturer, a budget is often developed for direct materials, labor, and overhead
The importance of budgeting cannot be understated.
The statutory or constitutional maximum debt that an issuer can legally incur.
A long-term rental agreement that transfers substantial rights and obligations for the use of an asset to the lessee and, generally, ownership at the end of the lease.
The date of a bond issue from which the bondholder is entitled to receive interest even though the bonds may actually be delivered at some other date.
Roads are examples of
Initially, deficit spending and the resultant debt will boost __________________.
To ensure soundness of the country’s debt portfolio, the government implemented reforms on Treasury Single Account (TSA)
The requirement that certain issuers of municipal obligations file annual reports concerning financial and operating data presented in an official statement.
GDP target for the year 2020 is 4.9%.
Governmental effort involving expenditures and funding for the creation, expansion, renovation, or replacement of permanent facilities and other public assets having relatively long life.
The national debt is the ____________________ of each year's deficit
A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis.
A type of residential property tax relief in which benefits depend on income and/or wealth and property tax payments.
An effort to manage cash flows in such a way that interest and penalties paid are minimized and interest earned is maximized.Categorical Gran
Duties and taxes on imported goods
Total borrowings that will be sourced locally to finance the FY2020 national budget
The amount by which expenditures exceed revenues during an accounting period.
The Philippines economy grew by a modest rate of 6.2% in 2018.
Budgets are developed for all the different subsidiaries, divisions, and departments within an organization. For a manufacturer, a separate budget is often developed for direct materials, labor, and overhead
. Issues occur if the Philippine government lets the value of the dollar.
Total borrowings from abroad to finance the FY 2020 national budget
A budget deficit occurs when a country
Expenditures are a use of cash, and to the extent that they are greater than __________, there is a deficit.
The greater the percentage rate of inflation the better it is for the economy.
The Supreme court ruling in April 2019, local government units (LGUs) will receive an estimated 30% higher shares of the IRA starting FY 2022.
The annual request for capital project appropriations. Project appropriations are normally only for that amount necessary to enable the implementation of the first year of the capital program expenditure plan.
. ________________ is a plan of what the government intends to have as expenditures in a fiscal year
BOC target collection for FY 2020 national budget in terms of peso
President George W. Bush's stated budget deficits totaled about $3 trillion. But he added about $5 trillion to the debt
Population in the elementary enrolees is greater than the population enrolees in the secondary level
Whether the money goes to jet fighters, bridges, or education, it ramps up production and creates jobs.
Local Government units (LGUs) have shares from excise taxes on tobacco pursuant to RA 240.
Whether the money goes to jet fighters, bridges, or education, it ramps up production and creates jobs
Much of the government’s ___________ is a form of income or wealth redistribution, which is aimed at benefiting society as a whole.
The decline of the useful life of a fixed asset over a determined period of time attributable to wear and tear, deterioration, action of the physical elements, inadequacy, and obsolescence.
An increase in the value of an asset.
A budget occurs when a country
Reducing corporate income tax rate is included in the second package of Comprehensive Tax Reform
DBM secretary from 2010-2016
A type of grant that may only be used for a specific program that is usually limited to a narrowly defined activity.
It aims at eliminating the business fluctuations and its impact on the economy
If the government has a deficit (spending is greater than revenue), it will fund the difference by borrowing money and issuing ________________.
A surplus budget remains unchanged over the life of the budget.
The Department of Public Works and Highway got the second biggest amount of budget for the year 2020.
Dubai crude oil is not included in the macroeconomic assumption in making budget.
Income derived from lending money
. The U.S. Treasury must sell Treasury bonds, bills, and notes to raise the money to cover the deficit and fund regular government operations
Sales tax and income tax are examples of
The Department of Environment and Natural Resources got the biggest amount of budget for the year 2020.
_____________ are assessments made by investor advisory companies, also known as rating agencies, of credit quality or, conversely, the risk that the borrowing government will not make scheduled payments of principal and interest.
Deficit spending increases the amount of money in the economy
An accounting commitment that reserves appropriated funds for a future expenditure
The Police is not the best unemployment solution
The actual growth rate in 2018 is greater than 2020 projection
Issues occur if the U.S. government lets the value of the peso.
It aims at reducing the inequalities through redistribution of income and wealth
Business is a wonderful tool for managing your finances, but many people think it's not for them.
A portion of bond proceeds that are set aside to pay interest on the bonds until the projects funded by those bonds are built, operating, and capable of generating revenues for making debt service payments.
Liberalization of rice importation eliminates price hike.
Department of Budget and Management was created under
Bonds that are redeemable by the issuer prior to the specified maturity date at the specified price at or above par.
Charges levied for violations of laws, regulations, or codes.
Insurance that guarantees the timely payment of principal and interest to bondholders.
A bond secured by the pledge of more than one source of repayment, often project revenue and taxing power.
Company budgets are essential for operating at peak efficiency
If the government spends more than it collects, then there is
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