MANILA — Government agencies with highest expenditures will be required to submit their cash program every three months starting next year.
Under the cash forecasting initiative of the government, the Quarterly Cash Program Report (QCPR) will kick off by 2018, requiring top 10 spenders in the government to submit their three-month cash plan.
“It is improving our cash forecast. For the [Bureau of] Treasury (BTr), it is important that we know, particularly for the top 10 spenders, their requirements,” National Treasurer Rosalia De Leon said on the sidelines of the 120th Anniversary Celebration of the BTr Tuesday.
“On our end, we will have a better handle in terms of cash requirements. And it also means that we can lessen the negative carry,” De Leon told reporters.
The 10 pioneer agencies for QCPR include departments of Agrarian Reform, Agriculture, Education, Health, Interior and Local Government, Labor and Employment, National Defense, Public Works and Highways, Social Welfare and Development, and Transportation.
By 2019, almost all government agencies are required for QCPR.
This is part of the government’s drive to increase accountability, transparency, and good governance.
Aside from the QCPR, the BTr also launched the National Asset Registry System.
“The establishment for comprehensive registry of non-financial assets is key to strengthening the national government’s property and fixed assets,” Deputy Treasurer Sharon Almanza explained.
Almanza added that the National Asset Registry System would also require all national agencies for reporting to have comparative assessment of asset realization, performance, acquisition, and disposal.
“This encouarges agencies to properly manage and efficiently use their assets,” she said.
“The National Asset Registry increases accountabiltiy, greater transparency, and good governance on the use and management of government proeprties and resources,” Almanza said.
On the other hand, De Leon added that through the National Asset Registry, the government would be able to identify its high risk assets and be able to subscribe it to proper protection like insurance.
“For instance, if there will be calamities, they don’t have to depend so much on the National Government budget since it has insurance itself,” she said.