This case has been cited 1 times or more.
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2015-02-03 |
BERSAMIN, J. |
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| Pursuant to the foregoing, the Department of Budget and Management (DBM) and the Commission on Audit (COA) require agencies under various joint circulars to submit budget and financial accountability reports (BFAR) on a regular basis,[39] one of which is the Quarterly Report of Income or Quarterly Report of Revenue and Other Receipts.[40] On the other hand, as Justice Carpio points out in his Separate Opinion, the Development Budget Coordination Committee (DBCC) sets quarterly revenue targets for a specific fiscal year.[41] Since information on both actual revenue collections and targets are made available every quarter, or at such time as the DBM may prescribe, actual revenue surplus may be determined accordingly and releases from the unprogrammed fund may take place even prior to the end of the fiscal year.[42] | |||||