BCLTE (Local Treasury Competency) flashcards
BCLTE (Local Treasury Competency) · Build recall with a focused review session.
32 cards. Read the term and the definition here. The deck at the top of this page is optional.
- Local Treasury
- The office within an LGU that receives, safeguards, and disburses local funds and keeps the related records, headed by the local treasurer as accountable officer.
- Special Education Fund
- A local special account funded by the additional 1% real property tax and a share of the 1% tax on idle lands, disbursed only for purposes approved by the Local School Board.
- Local Finance Committee
- A body composed of the planning and development coordinator, budget officer, and treasurer that prepares the LGU budget and reviews fiscal matters.
- RA 7160 Book II
- The portion of the Local Government Code of 1991 that governs local finance, including taxation, treasury operations, budget, and accountability of local officials.
- RA 6713
- The Code of Conduct and Ethical Standards for Public Officials and Employees, imposing norms of integrity, responsiveness, and accountability on treasury personnel.
- RA 3019
- The Anti-Graft and Corrupt Practices Act, penalizing corrupt acts by public officers including receiving gifts and causing undue injury to the government.
- COA Circular 92-382
- A Commission on Audit circular prescribing accounting and reporting rules applicable to local government units and their treasury operations.
- Cash Program
- A projection of monthly cash inflows and outflows prepared by the treasurer and approved by the local chief executive to ensure sufficient liquidity.
- Idle Cash Placement
- Deposit of temporarily unneeded local funds in time deposits with authorized depository banks, subject to COA rules and sanggunian authorization.
- Daily Cash Position Report
- A treasurer's report showing the LGU's cash balance at the close of each day, reconciled with the Cash Book and bank records.
- Deposit Intact Rule
- The requirement that all collections be deposited in full to the authorized depository bank without using any portion for disbursements.
- Official Receipt
- A pre-numbered accountable form issued at the time of payment to evidence receipt of money by the local treasury.
- Report of Collections and Deposits
- A treasurer's report summarizing collections, deposits, and remittances for a period, submitted to the accountant and local officials.
- Real Property Tax Receipt
- The receipt issued by the treasurer upon payment of real property tax, evidencing the payment and supporting updates to the assessment roll.
- Disbursement Voucher
- A form authorizing payment of an obligation, supported by invoices, receipts, and certifications of fund availability and appropriation.
- Advice to Debit Account
- An instruction to the depository bank to debit the LGU account and credit the payee, used in lieu of a check for Land Bank accounts.
- Check Signatories
- The local chief executive and the treasurer, or their authorized alternates, whose two signatures are required on LGU checks.
- Stale Check
- A check not presented within the prescribed period, generally six months from date, which must be cancelled and replaced.
- Turn-over of Accountability
- The documented transfer of funds, property, and records from an outgoing accountable officer to the incoming officer, witnessed by the COA auditor.
- Accountable Forms
- Pre-numbered documents such as official receipts and checks that must be logged, secured, and inventoried because they represent potential accountability.
- Fidelity Bond
- A bond secured by an accountable officer to guarantee faithful performance and to cover losses from dishonesty or negligence.
- Bank Reconciliation
- A monthly comparison of the Cash Book balance with the bank statement to identify and explain differences before financial statements are finalized.
- Statement of Cash Flows
- A financial statement reporting cash receipts and payments classified into operating, investing, and financing activities for a period.
- SAAODB
- The Statement of Appropriations, Allotments, Obligations, Disbursements, and Balances, a report on budget execution submitted to COA and DBM.
- Monthly Trial Balance
- A listing of general ledger account balances prepared by the accountant to verify that debits equal credits before statements are issued.
- Segregation of Duties
- An internal control principle separating authorization, recording, and custody functions so no single officer controls an entire transaction.
- COA Audit Approaches
- The Commission on Audit's methods: financial audit, compliance audit, and performance audit of government accounts and operations.
- Internal Audit Unit
- A unit or designated officer within the LGU that reviews internal controls and reports findings to the local chief executive and sanggunian.
- Budget Execution
- The phase in which the approved budget is carried out through allotments, obligations, and disbursements within authorized appropriations.
- Development Fund
- A mandatory local appropriation of at least 20% of the LGU's annual budget used for development projects under RA 7160.
- Calamity Fund
- A mandatory 5% local appropriation usable only upon a sanggunian declaration of a state of calamity in the locality.
- Balanced Budget Rule
- The requirement that the local chief executive submit a balanced budget and that the sanggunian not increase it without identifying new revenue sources.