Government Accounting Assignment - Pajarillo

Phryzyel Pajarillo
BSA 2C
Sec. 3. Responsibility, Accountability and Liability over Government Funds and Property
This section will tackle the Responsibility, Accountability and Liability over Government Funds
and Property.
Responsibility
- According to the Oxford Languages, it
is the state or fact of having a duty to
deal with something or of having
control over someone. Meaning you
have an obligation or responsibility to a
certain situation or thing.
Accountability
- According to the Investopedia, it is
when an individual or department
experiences consequences for their GOVERNMENT FUNDS AND
performance or actions. Meaning that PROPERTY
every action that someone did act, he
should be ready for the consequences
and learned to be accountable whatever
the result is.
Liability
- According to accounting tools, it is a
legally binding obligation payable to
another entity.
a. Responsibility over Government Funds and Property
This will be the responsibility over the government funds and property with the following:
1. The government funds and properties shall be managed, expanded and utilized with
accordance with the laws and regulation, meaning that these funds and properties of the states
shall not be waste or align with their personal interest, but for the state. It should be handled with
faithfulness that the government funds and properties will be use responsibly.
For example, the people behind those who are handling the finds and properties should be
their responsibility not to deal with their interest but for the interest of all the people.
2. The fiscal responsibility shall only be dealt with the financial of the economy and to be used
only for economics.
3. It is the responsibility of the head of the government to allocate, entrust these governments
funds and properties to the agency head.
For example, the president will assign a budget for the project in the environment, which
the head of the DENR will be entrusted to allocate it responsibly.
b. Accountability over Government Funds and Property

Under this is the following accountable of the government agency for the funds and properties:
1. Every officer of any government agency whose duties permit or require the possession or
custody of government funds or property shall be accountable. This sentence gives a knowledge
that the officer of the government agency, that for every action that they will do to the
government funds and properties entrusted to them by the head of the government shall be held
accountable for whatever actions or decisions that they made during their meeting or
brainstorming and the effect of their actions.
For example, the budget given to the DepEd should be utilized for education and every
transaction that they do will be made public for transparency and they will be held accountable
for the decisions that they made.
2. It is possible to transfer the government funds to another agency as long as they have
permission to do so.
3. When the government funds are transferred to another agency, they should have an official
receipt that proves that the transaction of transfer had already happened. Without the official
receipt as evidence, the transfer of funds to one another did not happen.
For example, the funds given to the DOJ exceeded and the DSWD needed a fund, the DOJ and
DSWD should have an acknowledgement or official receipt subjected by o regulations of the
Commission to have an evidence that a transfer of funds occured.
c. Liability over Government Funds and Property

The discussion below are the liabilities over government funds and properties:
1. It states that if the expenditure or the expenses are not in accordance with laws and
regulations, meaning the government agency violates the use of the government funds and
properties, the one who is found guilty shall be made liable and he will now be a personal
liability to the government.
For example, if the officer of one agency buys a thing that is personal to his interest, with
the government funds, but not to the states, the expenses should be shouldered by the officer who
misuse the funds.
2. The misuse or unlawful action such as depositing the funds, unlawful use of the funds and
properties or the application of it, the officer that is accountable or found guilty should be liable
for all the losses of it. This means that the fund and properties should only be used in a lawful
way for them not to be held liable for such action.
3. When during the transaction, unexpected things happen such as being caught in the fire, the
officer who is transacting for the government funds and properties should notify the Commission
or the auditor within thirty days with evidence that this accident happened during the transaction.
If the officer in charge of the transaction did not comply, the loss that incurred should be liable to
him and he should settle the loss with his personal account.
For example, if officer A who are in charge for transacting to the contractor, and they
caught fire to their meeting place, which officer A held the money for the payment, officer A
should immediately report to the Commision or the auditor in charge for their department with
evidence so that officer A will not be liable to the loss. However, if officer A did not comply
with the set date, all the losses that occurred during his transaction to the contractor, officer A
will settle the loss with his personal account.

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Phryzyel Pajarillo

b. Accountability over Government Funds and Property

c. Liability over Government Funds and Property

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