Plans, organizes, controls and coordinates the activities of the department in providing adequate funds for established requirements in a timely manner at a cost consistent with prevailing condition and in keeping with the corporate plans and objectives
Exchange Rate
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Check Available
For the different partners of the Authority, the PRA E-Services provides an easier manner of verifying if checks are all ready for release and pick-up for the service that they have provided.
Accredited Banks
These are licensed and authorized financial institutions partnered with PRA to provide service and accept SRRVisa deposit.
Interest Rate
To provide convenience, the PRA E-Services give an up to date list of interest rates per month.
The Financial Management Division is devoted to the task of figuring out how to allocate and spread out the overall financial resources of the Authority. It takes the overall control and monitoring of the PRA’s net worth. It must ensure that the right assets are in the right place at the right time. It must also manage the expenditures so that all programs/projects are financed in an optimal way without taking on too much risk. And it takes the responsibility of reporting how budgets are utilized for specific plans and programs of the whole Authority.
PRA’s COB is a detailed projection of all estimated income and expenses primarily based on forecasted number of retiree applicants who are assumed to have enrolled in the program through the issuance of Special Resident Retiree’s Visa (SRRV) by the Bureau of Immigration, during a certain budget year.
PRA maintains a Registry of Budget Utilization by Expenses Class to control the utilization of funds, which includes Personnel Services, Maintenance and Other Operating Expenses, and Capital Outlays. The amount of utilization should not exceed the approved Corporate Operating budget(COB).
PRA takes the responsibility of handling funds from (1) its own earnings saved from the yearly operational net income; and (2) funds held-in-trust for the retirees’ visa deposits maintained at a government bank.
These are collection of reports about financial results, financial condition, and cash flows. (Balance sheet, Income Statement, Changes in Equity, Cash Flow Statement, etc.)