This is a study on a subject matter of universal concern. It is of interest to every individual, the tax payers, and investors in industry and commerce, and in public securities who knowingly or unknowingly play a part in public financing and enjoys some benefits and advantages from the services of the Government. The two budgetary systems now in use in the Philippines is presented with the view that it would in some way or another resolved in the minds of all concerned, which of the two systems, the Line-Budget and the Performance Budget is best in simplifying the complexity of financial management of the Government. The divergence of opinion both in Congress and in the Public Press encouraged the author to make this study complex and technical as it may seem, and give society a thought of his little contribution to the wisdom of knowledge in public financing, to members of Congress, comptrollers and accountants, auditors, bookkeepers, and all who has something to do about public finance.