Transcription of GLOSSARY OF TERMS A - Department of Budget and …
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GLOSSARY OF TERMS A - Department of Budget and …
GLOSSARY OF TERMS . A. to the public vis- -vis the targets/budgets for the same period. ccounts Payable (A/P). Obligations/commitments of national Allotment. Authorization issued by the government agencies, whether current Department of Budget and management year and prior years, for which services (DBM) to an agency, permitting the have been rendered, goods have been agency to commit/incur obligation and/or delivered or projects have been completed pay out funds within a specified period of and accepted. Prior Year's Accounts time within the amount specified through Payable are those accounts payable which the: have been incurred and remained unpaid as of the end of the preceding year. 1. General Appropriations Act as an Current Year's Accounts Payable are Allotment Order (GAAAO).
information system for the public financial management (PFM) operations of the Government of the Philippines (GOP). The system will be used to collect and organize government financial information through a central database that supports the following fundamental PFM functions: a) Budget Management; b) Commitments Management; c)
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