Local Government Code of 1991
Section 331. Preparation of the Barangay Budget. -
(a) Upon receipt of the statement of income and expenditures from the barangay treasurer, the punong barangay shall prepare the barangay budget for the ensuing fiscal year in the manner and within the period prescribed in this Title and submit the annual barangay budget to the sangguniang barangay for legislative enactment.
(b) The total annual appropriations for personal services of a barangay for one (1) fiscal year shall not exceed fifty-five percent (55%) of the total annual income actually realized from local sources during the next preceding fiscal year.
(c) The barangay budget shall likewise be subject to the same budgetary requirements and limitations hereinabove prescribed.