In Subsection 4 we will develop an understanding after each department submits a budget proposal and budget allocation, there are steps behind the scenes that each department might not know about, and most of the time, operated by a specialist, it requires a partner and stakeholders to coordinate with those process in order to deliver the best possible results. So, in this section, you will learn to understand and able to integrate and apply the tools and techniques of monitoring expenditures, tracking, and reporting systems of Higher Education Institutions

• Explain and apply the procurement concept in actual practice.

• Distinguish the difference between monitoring a budget and tracking expenditure after appropriation and allocation occurs

• Identify the importance of reporting systems and prepare a financial report.

• Tracking and Reporting Terminology Sheet