The Mines and Geosciences Bureau (MGB), through its Financial Management Division, beat the challenged posed by the Department of Budget and Management (DBM) to start early the encoding of actual obligation for FY 2015 through the Online Submission of Budget Proposal System (OSBPS) as the initial requirement for the FY 2017 Budget Proposals.

With its online submission last February 26, the MGB met the challenge, which was made during the Briefing on the Provisions of Fiscal Year (FY) 2017 National Budget Memorandum No. 125 held last January 22 at Camp Aguinaldo in Quezon City.

In its report, the MGB disclosed that it utilized a total of PhP870.99 million for FY 2015, or 95.94% of its PhP907.82 million allotment for the year.

Among the expenditure items, the Personnel Services took the bulk amounting to PhP447.51 million, or 51.38% of the total. It was followed by Maintenance and other Operating Expenses, amounting to PhP227.12 million, and Capital Outlay with PhP146.36 million, accounting for 31.82% and 16.80% shares, respectively.

By: Financial Management Division