5 responsibilities and authorities of financial agencies in state budget expenditure control in Vietnam

5 responsibilities and authorities of financial agencies in state budget expenditure control in Vietnam​ - Illustrative image

According to Article 8 of Circular 62/2020/TT-BTC issued by the Ministry of Finance on five responsibilities and powers of the Ministry of Finance, the Department of Finance of provinces and central-affiliated cities, the Finance - Planning Department of urban districts, suburban districts, district-level towns, and provincial cities (collectively referred to as financial authorities) in the monitoring and payment of regular expenditures from the State Budget through the State Treasury in Vietnam:

1. Financial authorities at the same level shall inspect the budget estimates allocated by the level-I estimating units to budget-using units. If any allocation is found to be incorrect in terms of total amount and specifics for each field, task of the allocated budget estimate; or policy non-compliance, the level-I estimating unit is required to adjust it within 10 working days from the date of receiving the allocation report from the budget-using unit.

2. Ensure the existence of funds at all levels of the State Budget to meet the expenditure needs of the State Budget as per the provisions of the State Budget Law, Decree 163/2016/ND-CP and guiding documents of the Law. If the budget funds at all levels do not meet the expenditure needs, the financial authority has the right to request (in writing) that the State Treasury temporarily stop payment of some procurement and repair expenditures according to specific tasks to ensure the balance of State Budget funds, without affecting the primary mission execution of the unit.

3. Inspect and supervise the spending and use of budgets at the budget-using units. If any expenditures are found to exceed the authorized amount, are not compliant with policies, or the unit does not comply with reporting policies, the financial authority has the right to request the State Treasury to temporarily stop payment.

4. Responsible for inputting budget expenditure estimates into the Treasury and Budget Management Information System (hereinafter referred to as TABMIS) and approving TABMIS according to regulations on guiding the management and operation of the state budget under the conditions of applying the TABMIS system.

5. For those expenditures decided by the financial authority via the “payment order” method: Financial authorities are responsible for inspection and control in conformity with Article 19 of Circular 342/2016/TT-BTC.

For further details, refer to the Circular 62/2020/TT-BTC, issued on June 22, 2020.

Le Vy

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