What are the fund clusters?
Fund Cluster is an aggregation of Funding Sources for the purpose of recording transactions and preparing report in the Budget, Treasury and Accounting processes. The aggregation of Funding Source codes into Fund Cluster is necessary, otherwise, each Funding Source code will have its own separate books of accounts.
What is the fund cluster code for business related funds?
06
Fund Cluster Funding Source
| # | Short Description | UACS Code |
|---|---|---|
| 3 | Special Account – Locally Funded/Domestic Grants Fund | 03 |
| 4 | Special Account – Foreign Assisted/Foreign Grants Fund | 04 |
| 5 | Internally Generated Funds | 05 |
| 6 | Business Related Funds | 06 |
What is the purpose of UACS?
The key purpose of the UACS is to enable the timely and accurate reporting of actual revenue collections and expenditures against budgeted programmed revenues and expenditures.
What is funding source in UACS?
All Funding Source Codes Funding Source
| # | Short Description | UACS Code |
|---|---|---|
| 1 | Specific Budgets of National Government Agencies | 01101101 |
| 2 | ARMM-DepEd’s GSIS Contribution | 01101111 |
| 3 | Special Shares of LGUs in the Proceeds of National Taxes | 01101252 |
| 4 | Barangay Officials Death Benefits Fund | 01101253 |
What is UACS code?
The Unified Accounts Code Structure or UACS is a government-wide harmonized budgetary, treasury and accounting code classification framework jointly developed by the Department of Budget and Management (DBM), the Commission on Audit (COA), the Department of Finance (DOF) and the Bureau of the Treasury (BTr) to …
What is MFO PAP?
MFO/Program, Activity and Project (PAP)
What are source of funds?
Source of Funds (SOF) Refers to the origin of the particular funds or any other monetary instrument which are the subject of the transaction between a Financial Institution and the customer. Alternatively, another definition of SOF is the origin and means of transfer of monies that are accepted for the account.
What is the rule of UACS?
More popularly known as FOLMO, the 5 key elements of the UACS with specified number of digits are the following: Funding Source (8), Organization (12), Location (9), Major Final Output/Program, Activity and Project (15), and Object (10). Each element is composed of segments. All in all, the UACS has 54 digits. 10.
What are funding sources?
Sources of funding include credit, venture capital, donations, grants, savings, subsidies, and taxes. Fundings such as donations, subsidies, and grants that have no direct requirement for return of investment are described as “soft funding” or “crowdfunding”.
What are the key elements of UACS?
More popularly known as FOLMO, the 5 key elements of the UACS with specified number of digits are the following: Funding Source (8), Organization (12), Location (9), Major Final Output/Program, Activity and Project (15), and Object (10). Each element is composed of segments.
What are the government offices primarily charged with the accounting responsibility?
Accounting Responsibility – Under PD 1445, accounting responsibility for all government funds and property is entrusted, immediately and primarily, to the head of the government agency or office.
What MFO means?
Acronym. Definition. MFO. Multinational Force and Observers (US DoD)