FINANCIAL MANAGEMENT BUREAU
The Financial Management Bureau (FMB) is responsible for advising and assisting in various financial matters such as formulating and reviewing financial systems and procedures, developing policy guidelines and regulations, and preparing reports on funds released to the Senate.​
FMB plays a crucial role in ensuring transparency, accountability, and efficiency in financial operations. By overseeing the development and implementation of financial systems and policies, they help to safeguard financial resources and ensure they are used effectively and in accordance with established regulations.
Overall, the Financial Management Bureau serves a vital function in maintaining the integrity and effectiveness of financial operations within its jurisdiction.
GUIDELINES
One of the general requirements for disbursements is that all claims against government funds shall be supported with complete documentation that shall establish the integrity of the claim.The submission of complete supporting documents enumerated under each type of transaction does not preclude reasonable questions on the funding, legality, regularity, necessity or economy of the expenditure or transaction, among others, and such questions may be raised by any of the signatories to the transaction.
handles the processing of disbursement vouchers of all claims for payments and the liquidation documents of cash advances as well as pre-audit on all claims in compliance with existing accounting and auditing rules and regulations. It records all financial transactions of the Senate and maintains a complete set of book of accounts of the Senate. It prepares and submits periodic financial statements required by law.
facilitates the budget preparation and evaluation and the budget execution and control. It formulates guidelines and instructions in the preparation of the annual budget estimates as well as the compilation, analysis, and presentation of statistical data needed in the preparation of budget estimates. It also prepares the Senate financial work plans. Moreover, it plans and develops methods and procedures on budget execution. It facilitates the issuance of receipts of allotment notices to concerned offices and the obligation of allotments for all expenditures of the Senate.
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is tasked with the payroll disbursement, check disbursement, and cash collection. This office maintains records and reports of payroll transactions and disbursements. It facilitates the payment of salaries and other benefits of the Senate employees. It also prepares checks and corresponding bank advice for all approved vouchers. In addition, this office maintains a petty cash fund and traveling expenses fund for the Secretariat.