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    Romeo Baldevia
    The document outlines the New Barangay Accounting System prescribed by the Commission on Audit for barangays to implement starting in fiscal year 2007. It details the basic features and policies of the accounting system including the accrual basis of accounting, recognition of liabilities, purchase and accounting of supplies, cash advances, audit disallowances, required financial reports and statements, and the processing and recording of barangay transactions at the city/municipal level. Major financial transactions such as appropriations and commitments, receipts and deposits, disbursements, and assets are also described.

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    © All Rights Reserved
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    Ga

    Uploaded by

    Romeo Baldevia
    95 views39 pages
    The document outlines the New Barangay Accounting System prescribed by the Commission on Audit for barangays to implement starting in fiscal year 2007. It details the basic features and policies of the accounting system including the accrual basis of accounting, recognition of liabilities, purchase and accounting of supplies, cash advances, audit disallowances, required financial reports and statements, and the processing and recording of barangay transactions at the city/municipal level. Major financial transactions such as appropriations and commitments, receipts and deposits, disbursements, and assets are also described.

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    The document outlines the New Barangay Accounting System prescribed by the Commission on Audit for barangays to implement starting in fiscal year 2007. It details the basic features and policies of the accounting system including the accrual basis of accounting, recognition of liabilities, purchase and accounting of supplies, cash advances, audit disallowances, required financial reports and statements, and the processing and recording of barangay transactions at the city/municipal level. Major financial transactions such as appropriations and commitments, receipts and deposits, disbursements, and assets are also described.

    Copyright:

    © All Rights Reserved
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    95 views39 pages

    Ga

    Uploaded by

    Romeo Baldevia
    The document outlines the New Barangay Accounting System prescribed by the Commission on Audit for barangays to implement starting in fiscal year 2007. It details the basic features and policies of the accounting system including the accrual basis of accounting, recognition of liabilities, purchase and accounting of supplies, cash advances, audit disallowances, required financial reports and statements, and the processing and recording of barangay transactions at the city/municipal level. Major financial transactions such as appropriations and commitments, receipts and deposits, disbursements, and assets are also described.

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    of 39

    The New Barangay

    Accounting
    System

    -The COA Circular 2013-002


    dated January 30 2013,
    provides the revised chart of
    accounts for national
    Government Agencies only.

    (subject: adoption of the


    revised Chart of Accounts
    for NGA). Likewise , the COA
    Circular No. 2014-003 dated

    April 15, 2014 also provides that


    the Chart of Accounts of GOCCs
    and local Government Units
    (LGUs) and its conversion to the
    new chart of Accounts shall be
    covered by separate guidelines;
    thus pending the new circulars
    for LGU/Barangays, current
    circulars for accounting for
    Barangays shall be used.

    Similar with the NGAS for


    National Government Agencies
    and Local Government Units, the
    Commission on Audit, in exercise
    of the authority granted under
    Article IX-D Section 2, par 2 of the
    1987 Constitution of the
    Philippines , prescribed the New
    Government Accounting System o
    for Barangay to be implemented
    starting fiscal year 2007.

    BASIC FEATURES AND


    POLCIES
    1. Accounting MethodThe IPSASBs Conceptual
    Framework deals with the
    concepts that apply to general
    purpose financial reporting
    under accrual basis of
    accounting.

    Accounting Method
    transactions and other events
    are recognized in financial
    statements when they occur and
    not only when cash or its equivalent
    is received or paid.
    The IPSASB has also issued a
    comprehensive cash basis IPSASs

    Accounting Method
    that includes mandatory and
    encouraged disclosures sections.
    The cash basis IPSASs
    encourages an entity to
    voluntary disclosure accrual
    based information.
    c

    2. Recognition of Liability
    Liabilities shall be taken up only
    for goods actually delivered and
    accepted or services rendered or
    upon receipt of bills from suppliers.
    cash received to guaranty
    c
    faithful performance of an activity
    c

    Recognition of Liability

    shall be recorded as a
    liability.
    Surety Bonds shall not
    recorded in the books.
    c

    3. Purchase of Supplies and


    Materials and Small items
    c
    Purchase
    of supplies and Materials
    and small items with serviceable
    life of more than 1 year, (Stapler,
    punches ruler, mechanical tools,
    etc., ) shall be recorded as
    inventories upon acquisition and
    Expense upon issuance., Except
    Tangible Assets.
    Assets

    4. Cash Advances
    Cash advance for payment of
    personnel services shall be
    accounted for Advances for
    Payroll
    c
    Cash advance for travel and
    other special time advances to
    officers and Employees.
    c

    5. Audit Disallowances
    Shall be Recorded only
    when they become final
    and executory.
    c

    6. Barangay Accounts
    Shall be kept within
    the framework of the
    New Government
    Accounting System
    charts of Accounts.
    c

    7.
    and
    R

    Processing of transaction
    recording in the Books

    Barangay

    City/Municipal

    Shall be done

    Processing
    of
    Transaction
    s

    Recording in
    the books
    through
    Journal
    Entry
    voucher

    Processing of transaction
    and Recording in the book

    The financial
    Records of the
    barangay shall
    be kept in the
    office of the
    City/Municipal
    Accountant.

    Recording in the
    Barangay books
    shall be based
    on the Report
    submitted by
    the barangay
    Treasurer.

    Reports and Documents


    supporting entries in the
    reports shall remain with
    the Barangay
    Treasurer/Barangay
    Record Keeper in the
    Barangay and shall be
    made available to the
    Commission On Audit
    anytime for examination.

    8. Certified registers
    In accordance with the New Barangay
    Accounting System, the following
    certified registers shall be used:
    1. Cash Receipt Registers
    2. Cash on hand and in Bank Registers
    3.Cash Disbursement Registers
    4.Check Disbursement Registers
    5.Petty Cash fund Registers

    9.

    Status of Appropriations,
    Commitments and Balances

    the Status of Appropriations,


    Commitments and Balances of
    each barangay under the
    City/municipality shall be
    consolidated by the
    City/Municipal Budget Officer.
    c

    10. Trial Balance

    The two money


    column trial Balance
    shall be used.
    c

    11. Financial Statements


    The new Barangay
    Accounting System requires the
    preparation of the ff. Financial
    System:
    c

    1. Balance Sheet(Detailed and


    Condensed)

    2. Statement of Income and

    Expense
    (Detailed and Condensed)

    3.Statement of Cash Flow


    (Direct Method)

    4. Statement Of Changes
    in Net Assets/Equity

    12.

    Schedules Supporting
    the Financial Statements

    The following Schedules supporting the Financial


    Statements prepared by the Barangay shall be used:
    c

    1. Schedule Of Public Infrastructures


    and Reforestation Projects.

    2. Schedule of Accounts Payable


    3. Schedule of Accounts Receivable

    13.

    E- NGAS

    Electronic New
    EGovernment
    Accounting
    NGAS
    System

    E-NGAS at the City/Municipality


    level is encourage to facilitate the
    Recording of barangay
    transactions to facilitate the
    recording of Barangay

    Transactions and to hasten


    the consolidation of all
    barangay financial
    statements and reports.

    BARANGAY ACCOUNTING
    SYSTEM PLAN

    shows the accounting flow of


    barangay transactions in the books
    maintained by the City/Municipal
    Accountant.
    c

    It starts with the -receipt of the


    certified registers/reports from
    Barangay Record Keeper on or before
    the 5th day of the following month.

    BARANGAY ACCOUNTING
    SYSTEM PLAN

    Includes the Following:


    1.Receipts and Deposits
    2.Disbursement (cash or checks)
    3.Public Infrastructures and

    Reforestation Projects
    4.Registries of Public and
    Reforestation Projects

    MAJOR FINANCIAL
    TRANSACTIONS
    The NGAS for Barangay prescribes the ff.
    Major categories of Financial transactions:
    1. Appropriation and
    Commitments
    2. Receipts and Deposits
    3. Disbursement
    4. Supplies and Materials,
    Property,, plant and Equipment, Public
    infrastructures/Reforestation Project.

    1.

    Appropriations and
    Commitments

    Section 29,par 1 of the


    constitution provides that:

    No money shall be paid


    out of treasury except in
    pursuance of an
    appropriation made by
    law.

    Appropriations and
    Commitments

    General Appropriation
    Ordinance:
    - GAO shall covered laws rules and
    regulations of the government provide that all
    disbursements of public funds, Except those

    received for specific purpose.


    -Authorizing appropriation for the
    annual budget.

    following funds:
    1. General funds
    2. 20% Development Fund
    3.Calamity Fund
    4. Sangguniang Kabataan Fund

    5.Gender and Development


    Fund

    The committee on Appropriations


    shall monitor the use of appropriated
    funds through the:
    Registry of Appropriations and
    Commitments
    Fund class-1. RACPS-personnel Services
    2. RACMOOE-maintenance
    Other operating expenses :
    3.RACCO-capital outlay
    4.RACFE- Financial expenses.

    Illustration
    :

    On January 2 2014, the


    Barangay Magcalon of San
    Jose, Antique receives of copies
    of General Appropriation
    Ordinance (GAO) for the ff.
    approved apropriations for the
    fiscal year 2014:

    General Fund:
    Personal Service
    P 60 000
    Maintenance and
    other operating expenses 25 000
    Financial expenses
    2 500
    Capital outlay
    32 000
    Calamity Fund
    10 000
    20% development Fund
    40 000
    Sangguniang Kabataan Fund
    20 000
    Gender and Development Fund 10 000

    Journal entry/Memo
    entry:
    Registry of Appropriation and CommitmentsGeneral Fund
    PERSONNEL SERVICES
    For the Calendar Year 2014
    Barangay: Magcalon
    Municipality: San Jose
    Province: Antique
    Dat
    e

    Particul
    ars

    1/2

    GAO 0107

    Re Appro.
    f

    60 000

    Salaries
    and
    wagesRegular

    Salaries
    and
    WagesCasual

    Com
    mime Balance
    nts

    60

    Registry of Appropriation and Commitments- General


    Fund
    MAINTENANCE AND OTHER OPERATING EXPENSE
    For the Calendar Year 2014
    Barangay: Magcalon
    Municipality: San Jose
    Province: Antique
    Dat
    e

    Particula
    rs

    1/2

    GAO 0107

    Ref Appro.

    25
    000

    Salaries
    and
    wagesRegular

    Salaries
    and
    WagesCasual

    Com
    mim
    ents

    Balance

    25 000

    Registry of Appropriation and Commitments- General


    Fund
    FINANCIAL EXPENSES
    For the Calendar Year 2014
    Barangay: Magcalon
    Municipality: San Jose
    Province: Antique
    Dat
    e

    Particula
    rs

    1/
    2

    GAO 0107

    Ref Appro.

    2
    500

    Bank
    Charg
    es

    Doc.
    Stamps

    Commi
    ments

    Balanc
    e

    2
    500

    Registry of Appropriation and CommitmentsGeneral Fund


    CAPITAL OUTLAY
    For the Calendar Year 2014
    Barangay: Magcalon
    Municipality: San Jose
    Province: Antique
    Dat
    e

    Particul
    ars

    1/
    2

    GAO
    01-07

    Re Appro.
    f

    325
    00

    IT
    Motor
    equi Vehicle
    pt.

    Com
    mime
    nts

    Balance

    32
    500

    Registry of Appropriation and Commitments- Calamity


    Fund
    For the Calendar Year 2014
    Barangay: Magcalon
    Municipality: San Jose
    Province: Antique
    Dat
    e

    Particula
    rs

    Ref Appr
    o.

    Food
    Supplie
    s

    Medica Commimen
    l&
    ts
    Dental

    Balanc
    e

    Suppli
    es
    1/2

    GAO 01-

    10

    10 000

    Registry of Appropriation and Commitments - 20%


    Development Fund
    For the Calendar Year 2014
    Barangay: Magcalon
    Municipality: San Jose
    Province: Antique
    Date

    Particulars

    1/2

    GAO 01-07

    Re Appro.
    f

    40
    000

    Repair &
    Maintenan
    ce

    Commi
    ments

    Balance

    40

    000

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