Cash-based budgeting system scrapped
Credit to Author: GLEE JALEA| Date: Thu, 03 Jan 2019 16:33:56 +0000
NAGA CITY, Camarines Sur: The government will no longer adopt the cash-based budgeting system because President Rodrigo Duterte has signed a resolution extending the 2018 national budget until December 2019, House Majority Leader Rolando Andaya Jr. said on Thursday.
During the hearing of the House Committee on Rules on some budget controversies, Andaya said President Duterte had already signed a resolution which extends the life of the 2018 budget worth P3.767 trillion until Dec. 31, 2019.
“’Yung cash-based budgeting system mukhang hindi na po matutuloy dahil pinirmahan na po ng ating mahal na pangulo ‘yung resolusyon na ineextend yung 2018 budget this year (the cash-based budgeting will not push through because the President has signed a resolution extending the 2018 budget this year),” Andaya said during the hearing of the House Committee on Rules held in this city.
“The President, by signing that resolution extending the life of the 2018 budget, did away with the cash-budgeting system,” he added.
Joint Resolution 3, a consolidation of House Resolution 32 and Senate Resolution 17, was signed on December 28. It extends the availability of the 2018 appropriations for maintenance and other operating expenses and capital outlays until the end of 2019.
Under the cash-based budgeting system, agencies are required to complete their contracts by the end of 2019 since projects that are not ready for implementation will be removed from the budget.
Congress failed to pass the General Appropriations Act before it adjourned for the holiday break. This means that the government will operate on a reenacted budget.
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