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Public finance management refers to the effective collection and allocation of funds by the state. Academic literature also emphasizes that efficient public financial management is central in creating mutual trust and consensus between government and its citizens.&nbsp;
BARMM, through the BOL, is assured of an annual block grant from the national government. The institution of the block grant in the BOL represents a fundamental shift in the fiscal position of BARMM. It will not only serve as a source of revenue for the region, but also ensure fiscal autonomy and allow the Bangsamoro Government to exercise its powers and functions with a degree of autonomy. This is in sharp contrast with the former Autonomous Region in Muslim Mindanao (ARMM), which was treated similar to a line agency of the national government. Furthermore, 75% of the national government taxes, fees, and charges collected in BARMM, other than tariff and customs duties, will go to the Bangsamoro Government, while the remaining 25% will be remitted to the national government.&nbsp;
The block grant is only one element, albeit an important one, of public finance in BARMM; and as such remains an area of concern and public scrutiny. It represents 5% of the national revenue collections and shall be automatically released to the Bangsamoro government, subject to its full control. The Bangsamoro Parliament shall pass an annual appropriations law allocating the block grant to the different agencies and programs with education, health, and social services assigned with the highest budget priority.&nbsp;
As such, ensuring the correct disposition and allocation of the block grant necessarily includes the clear understanding of rules and regulations to hold the Bangsamoro government accountable. Fairness dictates that prospective members of the transitional regional government and the broader Bangsamoro community are unequivocally on the same page with regards to these rules and regulations.
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Quick Facts: 2021 BARMM Budget

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