SECTION 10. The Budget Operations Office.—The Budget Operations Office shall review and analyze the work and financial flows, the budgetary proposals of national and local government agencies and corporations, check each agency’s compliance with the budgetary policies and project priorities, determine the budgetary implications of foreign-assisted projects from the time of project design to the negotiation for financial assistance, prepare recommendations for fund releases, formulate and implement fiscal policies and plans for budget preparation and control, and conduct studies on economic trends and factors affecting government revenues, expenditures and borrowings. It shall consist of the following Bureaus:
(1) National Government Budget Bureaus A and B which shall evaluate and review the budgetary proposals, work and financial flows of the national government and ensure its compliance with budgetary policies and project priorities of the bureaus assigned to each group.
(2) Local Government Budget Bureau which shall recommend and effect the release of National Assistance for Local Government (NALGU) funds and those for autonomous regions based on approved work and financial plans as limited by the Secretary.
(3) Government Corporation Budget Bureau which shall evaluate and analyze the budgetary proposals, plans and financial flows of government corporations and agencies and ensure its compliance with budgetary policies and project priorities;
(4) Budget Planning Bureau which shall assist the Secretary in the preparation and management of fiscal policies and plans for budget coordination, conduct studies on economic trends and factors affecting government revenues, expenditures and borrowings, and shall collaborate with the Office of the President, Department of Finance, Central Bank, National Economic and Development Authority, and other agencies in the formulation of financial plans.
(5) Foreign-Assisted Projects Bureau which shall review and evaluate foreign-assisted projects to determine the annual funding requirements of certain projects identified by implementing agencies and supported by foreign funding; assist the Secretary in determining the budgetary implications of foreign-assisted projects from the time of project design to negotiations for financial assistance; ensure the concurrence of the Secretary of Budget on all loan agreements; evaluate the work-financial plan of projects chargeable against the Foreign Assistance Projects (FAPS) support fund; and recommend and effect the releases from such fund based on the approved work financial plans as may be directed by the Secretary.
SECTION 11. National Accounting and Finance Office.—The National Accounting and Finance Office shall take charge of the maintenance of the data bank of financial information and shall provide the necessary data required by the President, fiscal agencies and international financial institutions, analyze and evaluate the accounts and overall financial performance of the government, and supervise the management of the accounts of government agencies and instrumentalities. It shall consist of the following Bureaus:
(1) National Government Account and Finance Bureau;
(2) Local Government Accounting and Finance Bureau; and
(3) Government Corporate Accounting and Finance Bureau.
SECTION 12. Regional Offices.—The Regional Offices shall implement the policies, programs, standards and guidelines on budget administration and management in the regions.