What are the budgetary processes in the Philippines?

The budgetary process has four phases namely:

1. Budget preparation: the plan is used to determine expenditure and sectoral ceilings; to formulate the function/project activities; and to determine cost estimates;
2. Budget and review: the plan is used to verify the consistency of the budget with approved activities, goals and objectives;
3. Budget execution: the plan is the basis for determining the activities to be undertaken during the period; and
4. Budget accountability: the plan sets the standards against which performance can be measured

SOURCE: Department of Budget and Management (DBM)