Revenue collections and government expenditures of Barangay Zone II, Digos City

Abstract

The purpose of the study was to determine if the revenue collection and government expenditures of Brgy. Zone II, Digos City were properly allocated. Data gathering and profiling of records and their corresponding category using financial condition analysis determined the utilization of the calculated percentage of trends based on the past data. Also, an Input Process Output (IPO) type of research was used based on classic systems theory. This theory states that the general structure is as important in determining how effective it will function as its components. Furthermore, based on Local Government Code 1991 RA No. 7160, the surplus must not exceed 10% and all projects and activities funded from the Local Government Service Equalization Fund (LGSEF). Revenue/Collection allocation to the total expenditures of Barangay Zone II, Digos City, revealed that the year from 2013-2015 has positive results in terms of their variances which has a less than 10% surplus every year calculated. The year 2013 got a variance of P179,537.36 and convert into a percentage of 4.00, and Year 2014 got a variance of P 18,230.00, and it was converted to a percentage of 0.4. Lastly, they do not have variances in the year 2015. In implementing or executing the barangay budget, barangay officials shall ensure that the revenues as estimated are realized, that the approved programs and projects in the barangay development plan and the annual budget are implemented, that barangay funds are disbursed by the appropriation ordinance and reviewed annual budget, and that all financial transactions of the barangay follow accounting and auditing rules.