What is the purpose of using the Foundation of Vietnamese Female Talent Award? What does the expenditure for the management of the Foundation of Vietnamese Female Talent Award include?
- What is the purpose of using the Foundation of Vietnamese Female Talent Award (Quỹ Giải thưởng Tài năng nữ Việt Nam)?
- What does the expenditure for the management of the Foundation of Vietnamese Female Talent Award include?
- What are the regulations on the financial and asset management of the Foundation of Vietnamese Female Talent Award?
What is the purpose of using the Foundation of Vietnamese Female Talent Award (Quỹ Giải thưởng Tài năng nữ Việt Nam)?
Article 19 of the Charter issued together with Decision No. 441/QD-BNV in 2023 stipulates the use of the Foundation of Vietnamese Female Talent Award as follows:
- Principles of expenditure: thrift and efficiency in accordance with the Foundation's principles, purposes, tasks and subjects, in accordance with the provisions of law and the Foundation's Charter.
- Expenses for activities to perform the functions, tasks and powers of the Foundation as prescribed in Articles 5 and 6 of the Charter issued together with Decision No. 441/QD-BNV in 2023.
- Expenditure for Funding and support for the subjects specified in Article 17 of the Charter issued together with Decision No. 441/QD-BNV in 2023 in accordance with the Foundation's principles and purposes.
- Expenses for performing public services, scientific research projects, target programs, projects ordered by the State or other tasks assigned by state agencies (if any).
- Expenses for Foundation management activities.
- Buy Government bonds, save money for the Foundation's idle money (excluding state budget funding, if any).
- The receipt and use of aid from foreign non-governmental organizations must comply with the law on management and use of foreign non-governmental aid and relevant documents.
- Expenses for service provision or other activities as prescribed by law.
Management of Foundation of Vietnamese Female Talent Award (Image from the Internet)
What does the expenditure for the management of the Foundation of Vietnamese Female Talent Award include?
The expenses for Foundation management activities are specified in Article 20 of the Charter issued together with Decision No. 441/QD-BNV in 2023, including:
- Paying salaries and allowances for the Foundation management apparatus;
- Expenses for social insurance, unemployment insurance, health insurance and contributions as prescribed;
- Expenses for office rental (if any);
- Expenses for procurement and repair of office supplies and assets in service of the Foundation's operations;
- Payment for public services serving the Foundation's operations;
- Expenses for travel expenses incurred to do the tasks of mobilizing, receiving, transporting and distributing relief money and goods;
- Expenses for activities related to the performance of common tasks in the process of mobilizing, receiving, transporting and distributing relief money and goods (rent of warehouses and yards; expenses for packing and transporting boxes and goods); remittance costs; costs related to money distribution, relief goods);
- Other expenses related to the Foundation's activities.
* Spending norms for Foundation management activities:
- The Foundation Management Council shall specify the rate of expenditure for Foundation management activities, which must not exceed 5% of the Foundation's total annual revenue (excluding: In-kind funding, State funding to perform public services, scientific research projects, target programs, State-ordered schemes and grants with the amount, address of the recipient).
- In case the actual expenditure demand for Foundation management activities exceeds 5% of the Foundation's total annual revenue, the Foundation Management Council shall prescribe the expenditure level but not exceeding 10% of the Foundation's total annual revenue.
- In case the Foundation's management expenses are not used up by the end of the year, they may be carried over to the next year for continued use as prescribed.
What are the regulations on the financial and asset management of the Foundation of Vietnamese Female Talent Award?
According to the provisions of Article 21 of the Charter issued together with Decision No. 441/QD-BNV in 2023 regulating the financial and asset management of the Foundation of Vietnamese Female Talent Award are regulated as follows:
- The Foundation Management Council shall issue regulations on management and use of assets, finance, and spending norms of the Foundation; approving the expenditure ratio for Foundation management activities, approving the financial plan and approving the Foundation's annual financial settlement.
- The Foundation Control Board is responsible for inspecting and supervising the Foundation's activities and reporting and making recommendations to the Foundation Management Council on the Foundation's financial and asset situation.
- The Foundation's Director shall comply with regulations on management and use of assets, finance, revenue sources, and expenditure norms of the Foundation in accordance with the resolution of the Foundation Management Council on the basis of the operational tasks approved by the Foundation Management Council; must not use the Foundation's assets and finances for activities other than the Foundation's purposes.
- The Foundation Management Council and the Foundation Director are responsible for disclosing the Foundation's assets and financial situation quarterly and annually according to the following contents:
+ List, amount, in kind of contributions, sponsorships and supports of organizations and individuals to the Foundation;
+ List, amount of money, in kind of organizations and individuals received from the Foundation; publicize results of use and finalization of revenues and expenditures of each contribution;
+ Report on assets, finance and quarterly and annual settlement of the Foundation according to each revenue and expenditure content according to the Law on Accounting and its guiding documents.
- For expenditures for each campaign, the reporting must comply with current regulations on mobilizing, receiving, distributing and using voluntary contributions to support people to overcome difficulties caused by natural disasters, fires, patients with serious diseases.
- The Foundation must publicize its financial statements, the Foundation's final settlement report and the audit's conclusions (if any) on the mass media annually in accordance with current regulations.
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