#BudgetWatch: No extension for budget submissions - DBM
MANILA, Philippines - The Department of Budget and Management (DBM) on Tuesday, May 7, refuted reports announcing the deadline extension for agency budget proposals for FY 2014.
The DBM said the May 13 deadline was intended for budget proposal adjustments, including the fleshing out of lump-sum amounts in budget submissions of agencies.
The clarification was made following news reports that the budget submission deadline had been extended from April 15 to May 13 this year.
However, guidelines under National Budget Memorandum No. 118 specify that agency budget proposals should have been submitted by April 15, while the refocusing of proposed budgets and the fleshing-out of lump-sum funds may be completed by May 13.
The DBM also urged agencies to meet all their budget submission requirements in time for their scheduled Technical Budget Hearings, as well as to make sure they comply with budget preparation deadlines set by the budget department.
You may also view Rappler's Slides and Ladders infographic to get an idea about the budget process and the schedule of the budget preparation and resulting legislation. - Rappler.com