SEC. 16. Budgeting Process. – The budgeting process shall consist of budget preparation, authorization, execution, and accountability. The process shall consist of the following: (1) Budget Preparation - Preparation of budget estimates (2) Budget Authorization - Legislative authorization of the budget (3) Budget Execution - Allotment of the appropriations incurrence of obligations (4) Budget Accountability - Reporting on actual performance against plans SEC. 17. Fiscal Year. – Pursuant to Article VII, Section 21 of R.A. 9054, the fiscal year of the autonomous region shall cover the period January 1 to December 31 of every year, in consonance with the fiscal year of the national government. (1) Regional Budget – The Regional Governor shall submit to the Regional Assembly not later than two (2) months before the beginning of every regular session, as the basis of the regional appropriations bill, a budget of expenditures and sources of financing, including receipts from existing and proposed revenue measures. (2) Regional Assembly Power Over Budget – The Regional Assembly may not increase the appropriations recommended by the Regional Governor for the operation of the autonomous government as specified in the budget. The form, content, and manner of preparation of the budget shall be prescribed by law enacted by the Regional Assembly. Pending the enactment of such law, the budgeting process shall be governed by existing laws and rules and regulations prescribed by the Department of Budget and Management. (3) Prohibitions Against Riders – No provision or enactment shall be embraced in the regional appropriations therein. Any such provision or enactment shall be limited in its operation to the appropriation to which it relates. (4) Procedure for Approval – In approving appropriations for its own operation, the Regional Assembly shall strictly follow the procedure for approving the appropriations for all departments and agencies of the Autonomous Regional Government. (5) Specific Purpose and Availability of Funds – A special appropriations bill shall specify the purpose for which it is intended and shall be supported by funds actually available or to be raised by a corresponding revenue proposal as certified by the Treasurer of the Autonomous Regional Government. (6) Transfer of Funds – No regional law shall be passed authorizing any transfer of appropriations. The Regional Governor, the Speaker of the Regional Assembly, and the Presiding Justice of the highest Shari‟ah court may, however, be authorized by law enacted by the Regional Assembly, to augment any item in the Regional General 220