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petty cash

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petty cash

Post by Noel Yap on Fri Jan 28, 2011 2:27 pm

should purchase thru petty cash must pass thru bac or not? Very Happy
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Re: petty cash

Post by engrjhez® on Sat Jan 29, 2011 9:11 am

Noel Yap wrote:should purchase thru petty cash must pass thru bac or not? Very Happy

Let me post here my answer to similar question (almost 1 year ago):

In LGUs, we call it "petty cash". However, it has been a long time since "petty cash" was "enjoyed". mmp correctly pointed out that any use of government funds for procurement shall be governed by GPRA - true. What happens now on the CA/Petty Cash? It is clearly ILLEGAL. No procurement shall be undertaken unless it is in the approved Annual Procurement Plan. What can make the CA/Petty Cash LEGAL? We simply allocate a budget (based on historical records) on these small value procurement and put it in the APP. Whether the mode will be Shopping or Negotiated Procurement (or both) is up to the Procuring Entity thru the recommendation of the BAC. Smile

The complete discussion of this topic can be viewed here.
Smile
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Re: petty cash

Post by jcolas on Tue Feb 01, 2011 8:36 pm

"Noel Yap wrote"
should purchase thru petty cash must pass thru bac or not]

I believe petty expenditures need not pass through the BAC as long as these are included in the APP. After the APP has been approved by the Head of the Procuring entity, the Disbursing Officer can now draw a petty cash fund. The BAC is not consulted anymore as this activity is the sole prerogative of the HOPE to approve or not.
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Re: petty cash

Post by msm326 on Wed Feb 02, 2011 8:07 am

You can include in your APP 10% provisions for emergency purchase .
msm326 Very Happy
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Re: petty cash

Post by sunriser431 on Wed Feb 02, 2011 3:00 pm

excerpt from the GPM manual. xxxxx provision for contingencies must be no more than 4% of the total appropriations for maintenance and other operating expenses (MOOE). xxxx bounce


Last edited by sunriser431 on Fri Feb 04, 2011 5:32 am; edited 1 time in total
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Re: petty cash

Post by engrjhez® on Thu Feb 03, 2011 10:24 am

sunriser431 wrote:except from the GPM manual. xxxxx provision for contingencies must be no more than 4% of the total appropriations for maintenance and other operating expenses (MOOE). xxxx bounce

Thanks for that excerpt. I surmise on the 4% contingency cap (although actual variations might really be extended up to 10%) and I believe that is the most acceptable figure in as far as contingency is concerned. This will hope to carefully and meticulously plan expenditures. Smile
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Re: petty cash

Post by sunriser431 on Sat Feb 05, 2011 8:31 am

engrjhez® wrote:
sunriser431 wrote:except from the GPM manual. xxxxx provision for contingencies must be no more than 4% of the total appropriations for maintenance and other operating expenses (MOOE). xxxx bounce

Thanks for that excerpt. I surmise on the 4% contingency cap (although actual variations might really be extended up to 10%) and I believe that is the most acceptable figure in as far as contingency is concerned. This will hope to carefully and meticulously plan expenditures. Smile
As always you are welcome Engrjhez, I'm here manila for R&R, yesterday we visited Tagaytay City wonderful place. cheers cheers
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Re: petty cash

Post by msm326 on Mon Feb 07, 2011 10:46 am

thanks also engrjhez, but I have a copy of an example and thwy base d it on 10% perhaps this is more safe to use .
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Re: petty cash

Post by sunriser431 on Tue Feb 08, 2011 9:53 pm

msm326 wrote:thanks also engrjhez, but I have a copy of an example and thwy base d it on 10% perhaps this is more safe to use .
msm326 Very Happy
may i ask if this is the example copy?, click this LINK
excerpt from the link
xxxx
Total w/ 10% additional provision for inflation
xxxx
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Re: petty cash

Post by msm326 on Wed Feb 09, 2011 9:42 am

In our Case then we based it on our approved budget allocation for the year intended for that particular project such as office supplies/other supplies
msm326 Very Happy
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Petty Cash postings in PhilGeps

Post by zeffgervace on Wed Jul 06, 2011 10:19 am

Do we really have to post all petty expenditures (purchases below Php 1,000) and CA in our philgeps account?

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Re: petty cash

Post by engrjhez® on Wed Jul 06, 2011 10:32 am

zeffgervace wrote:Do we really have to post all petty expenditures (purchases below Php 1,000) and CA in our philgeps account?

Generally YES, except for Shopping and Small Value Procurement amounting to P50,000.00 and less which may be dispensed with. Smile
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Re: petty cash

Post by sunriser431 on Wed Jul 06, 2011 10:36 am

zeffgervace wrote:Do we really have to post all petty expenditures (purchases below Php 1,000) and CA in our philgeps account?
Its not required for us GOCCs, follow the LINK , for the guidelines. Hope it might be of help. bounce
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Re: petty cash

Post by zeffgervace on Wed Jul 06, 2011 12:33 pm

Thank you very much po for the prompt reply. Bago palang po kc ako sa procurement and I was advised by my supervisors to post all purchases regardless of the amount. However, i find it impractical to post those emergency purchases amounting to less than Php 1,000 since it has been already procured.

Again thank you very much po.. Wink

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Re: petty cash

Post by engrjhez® on Wed Jul 06, 2011 1:09 pm

zeffgervace wrote:Thank you very much po for the prompt reply. Bago palang po kc ako sa procurement and I was advised by my supervisors to post all purchases regardless of the amount. However, i find it impractical to post those emergency purchases amounting to less than Php 1,000 since it has been already procured.

Again thank you very much po.. Wink

We, as procuring entities, do not set when and where it would be practical to post notices especially in the PhilGEPS. Having been stated under law that posting in the PhilGEPS is mandatory as it is the "...primary and definitive source of information... on government procurement", we are bound to comply, and not to interpret.

Please differentiate "emergency cases" from "unforseen contingency" which I suppose you mean the latter. Emergency Case is when there is "...imminent danger to life and property...", while unforeseen contingency exists in supplies/services that occur on unpredictable situations, not necessarily matters of life and death. Nevertheless, we hope that such "emergency" is not artificial in nature.

If we mean the former (emergency cases), posting shall still be required for information purposes. Smile
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Re: petty cash

Post by zeffgervace on Wed Jul 06, 2011 2:34 pm

sir, yung impracticality po is just a matter of opinion ko lang po. Still ngccomply naman po kmi though i must admit that i am still confused why we still have to post such purchases. Emergency purchases is the term we use for unforeseen contingencies in our office. God forbids, we haven't come across something which would cause "imminent danger to life and property" yet." Smile

Usually, ito dn po yung ginagamit namin na term in reference to petty cash advances which are reflected in our APP. These petty cash advances are being drawn from our disbursing officer. However, since ung mga RIVs po ung basis namin in posting with PhilGeps, pinopost na din po namin ung mga RIVs na as low as Php50.00 ung amount.

As ive said earlier, bago plang po ako and we still have a lot to learn. Hopefully this forum will provide us sufficient and relevant information/knowledge which would be able to guide us with the procurement process.

Again thank you and more power.. Smile Wink

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