QuestionsQuestions (PRESIDENTIAL DECREE NO. 777)
It is the period from January 1 to December 31 of each calendar year for all government branches, subdivisions, instrumentalities, departments, bureaus, offices, agencies, and GOCCs.
All branches, subdivisions, instrumentalities, departments, bureaus, offices, and agencies of the Government, including government-owned or controlled corporations.
From the period July 1 of each calendar year to June 30 of the following year.
On January 1, 1977.
It is extended to include the six-month period from July 1 to December 31, 1976.
Appropriate budgetary provision must be made for minimum essential operating requirements by the proper authorities.
It shall not exceed 50% of the programmed or actual current operating expenditures of the agency/entity for the immediately preceding 12-month period.
They must be submitted to the Development Budget Coordination Committee (DBCC) not later than March 31, 1976.
Accounting and financial records, reports, and statements shall be rendered to reflect the extended coverage of the immediately preceding fiscal period.
The Chairman, Commission on Audit; the Secretary of Finance; and the Commissioner of the Budget.
Yes. All laws, executive orders, administrative orders, ordinances, resolutions, rules and regulations, or parts thereof inconsistent with PD No. 777 are repealed or amended accordingly.
To better synchronize preparation, submission, authorization, and execution of socio-economic development plans and the annual budget, and to facilitate compilation and analysis of government transaction data for social and economic accounting and other statistical purposes.
The agency’s previous fiscal year (July 1, 1975–June 30, 1976) is extended through December 31, 1976, and the agency shifts to a calendar-year fiscal year starting January 1, 1977.
No. The decree expressly limits the provision for minimum essential operating requirements for that six-month period to not more than 50% of the agency/entity’s programmed or actual current operating expenditures for the immediately preceding 12-month period.
The decree requires submission of current and capital requirements to DBCC no later than March 31, 1976 for its approval.