NSCB - Economic and Financial Data - Meta Data - Fiscal Sector

Fiscal Sector >Public Sector Operations
Last certified: 03 October 2007
Last update: 23 November 2007

Contact Person

Ms. Visitacion A. Ugalino
Fiscal Planning Division, Fiscal Policy and Planning Office
Department of Finance 4th Flr., DOF Bldg., BSP Complex,
Roxas Blvd. Corner Vito Cruz, Manila

Phone: 632 5233825; 632 5253305
Fax: 632 5244287

Dissemination Formats

Hardcopy
(x) News release ( ) Weekly ( ) monthly
( ) quarterly bulletin (x) Other

Electronic
( ) On-line country bulletin board or database
( ) Diskette ( ) CD ROM (x) Other

The Data: Coverage, Periodicity, and Timeliness
Coverage characteristics	Data are disseminated in billions of Philippine pesos on public sector operations (the "consolidated public sector financial position"). The data cover: (1) the operations of the central government, including both budgetary and non-budgetary accounts (referred to as National Government (NG); (2) the impact of the Central Bank restructuring on the NG (An account which reflect the cost of creating a new monetary authority which is now called Bangko Sentral ng Pilipinas or BSP); (3) the operations of the 14 monitored major non-financial government corporations; (4) the Oil Price Stabilization Fund; (5) the social security accounts; (6) the BSP net income account (central banks operating income. BSP is one of the public sectors included in the Consolidated Public Sector Financial Balance); (7) government financial institutions; and (8) local government units. Data are disseminated on the following: revenue; expenditure; Balance Deficit/Surplus (for the public sector as a whole and for all sub-sectors including the 14 monitored major non-financial government corporations separately). Data on financing are disseminated for the national government and for the major non-financial government corporations separately. The financing of central government and the major non-financial government corporations is further broken down into external and domestic financing. For central government the domestic financing is further broken down into bank and non-bank financing. Financing data for the local government units and the rest of the subsectors are not disseminated because they represent less then 5 percent of the total financing. The data are based on actual accounting records from the following agencies: (1) the Bureau of the Treasury for the detailed data on central government operations and the impact of the Central Bank restructuring; (2) the Corporate Affairs Group of the Department of Finance for the detailed data on the 14 monitored corporations, Government Financial Institutions and social security institutions; (3) the Department of Energy for the detailed data on the Oil Price Stabilization Fund; (4) Central Bank (Accounting records which reflects the cost of creating a new monetary authority which is now called Bangko Sentral ng Pilipinas or BSP and Accounting records of the BSP net income account which reflect the central bank operations); and (5) the Bureau of Local Government Finance for the detailed data on local government operations. The consolidated data for public sector operations are recorded on a cash basis. Data for the corporations and the BSP are also available on an accrual basis. The fiscal year is the same as the calendar year.
Periodicity	Annual
Timeliness	No later then 6 months after the end of the reference year.
Access by the Public
Advance dissemination of release calendar	An advance release calendar that gives one-quarter ahead notice of the approximate release dates, and at least one week ahead notice of the precise release dates, is published in the annual "DOF Statistical Bulletin" and is also posted on the NSCB Internet website (www.nscb.gov.ph).
Simultaneous release to all interested parties	The data are released simultaneously to all interested parties by issuing a press release "Consolidated Public Sector Financial Position for the YY", copies of which are available to the public from the contact person at the time of release.
Integrity
Dissemination of terms and conditions under which official statistics are produced, including ... confidentiality of individual responses	There are no laws or regulations which prescribe the release of data on public sector operations by the Department of Finance. The data on public sector operations are disseminated by the Department of Finance as a service to the public.
Identification of internal government access to data before release	The Secretary of Finance receives the data three days in advance of the release of the data to the public.
Identification of ministerial commentary on the occasion of statistical releases	The press release usually contains ministerial commentary on the reasons for the deviation of actuals from the program and the outlook for the following year.
Provision of information about revision and advance notice of major changes in methodology	The data are preliminary when first released and this is indicated in the press release. The data may be revised annually for up to 3 years before they are finalized. (There was an instance, however, when data for the previous three years were revised simultaneously due to new figures submitted by the different sectors.) The final data are published in the annual "DOF Statistical Bulletin". Major changes in the methodology may be announced through a press release and by dissemination of a description of the revised methodology at the time the changes are introduced.
Quality
Dissemination of documentation on methodology and sources used in preparing statistics	Information on the methodology and sources is available on request from the contact person.
Dissemination of component detail, reconciliations with related data, and statistical frameworks that support statistical cross-checks and provide assurance of reasonablenesss	The annual "DOF Statistical Bulletin" publishes detailed annual data on public sector operations (the "consolidated public sector financial position".) Statements, with time series of at least three years, publishes the detailed data of the subsectors. The statements can be obtained only at the offices of those preparing the reports: (1) The Bureau of the Treasury for the detailed data on central government operations and the impact of the Central Bank restructuring. Bureau of the Treasury Elizabeth Awayan Acting Division Chief Palacio del Gobernador Bldg., Andres Soriano St., Intramuros, Manila Phone: 632 5272819 (2) The Corporate Affairs Group of the Department of Finance for the detailed data on the 14 monitored corporations, Government Financial Institutions and social security institutions. Bernadette Ayong Information Technology Officer I DOF Bldg., BSP Complex Roxas Blvd. Corner Vito Cruz, Manila Phone: 632 5237172; 5257309 Charisse Hipolito, Financial Analyst IV DOF Bldg., BSP Complex Roxas Blvd. Corner Vito Cruz, Manila Phone: 632 5237172; 5257309 (3) The Bangko Sentral ng Pilipinas for the detailed data on central banking operations. Antonio B. Cintura Statistics Group, Department of Economic Research Rm 401, 4th Floor, Five-Storey Bldg. Mabini cor. P. Ocampo Sr. (formerly Vito Cruz St.) Sts., Malate, Manila Phone: 632 5247011 loc.2860 E-mail: bspmail@bsp.gov.ph (4) The Bureau of Local Government Finance for the detailed data on local government operations. Pamela Quizon 8/F EDPC Bldg., Roxas Blvd. Cor. Pablo Ocampo St., Manila Phone: 632 5272780