What are the regulations on sponsorship mobilization for educational institutions in Vietnam?

What are the regulations on sponsorship mobilization for educational institutions in Vietnam?

Based on Article 5 of Circular 16/2018/TT-BGDDT which stipulates regulations on sponsorship mobilization as follows:

Sponsorship mobilization

1. Based on the annual school activity plan and the budget estimates assigned by state authorities, periodically or unexpectedly, educational institutions shall formulate a sponsorship solicitation plan and report to the Department of Education and Training for approval regarding kindergartens, primary schools, and secondary schools; and report to the Department of Education and Training for approval regarding high schools and other educational institutions under the department’s management before conducting fundraising activities.

For intermediate-level teacher training schools, colleges of education, and higher education institutions, the sponsorship solicitation plan must be submitted to the School Council or the Board of Trustees for approval before fundraising, and report to the direct superior authority.

2. Departments of Education and Training, and Departments of Education and Training are responsible for appraising and approving the sponsorship solicitation plan within 15 days from the date of receiving the educational institution’s application. In cases where the sponsorship solicitation plan is found to be non-compliant with procedures, regulations, and lacks transparency, the educational institution must be required to stop implementing the sponsorship solicitation plan.

3. The sponsorship solicitation plan must clearly define the content, purpose, target beneficiaries, estimated budget, and the plan of activities to be funded.

Thus, educational institutions sponsorship mobilization must consider the following issues:

- The sponsorship solicitation plan must be reported and approved as follows:

+ Approval by the Department of Education and Training for kindergartens, primary schools, and secondary schools;

+ Approval by the Department of Education and Training for high schools and other educational institutions under the department’s management before conducting fundraising activities.

+ For intermediate-level teacher training schools, colleges of education, and higher education institutions, the sponsorship solicitation plan must be submitted to the School Council or the Board of Trustees for approval before fundraising and reported to the direct superior authority.

- The sponsorship solicitation plan must be appraised and approved within 15 days from the date of receiving the educational institution’s application.

- In cases where the sponsorship solicitation plan is found to be non-compliant with procedures, regulations, and lacks transparency, the educational institution must be required to stop implementing the sponsorship solicitation plan.

Note: The sponsorship solicitation plan must clearly define the content, purpose, target beneficiaries, estimated budget, and the plan of activities to be funded.

What are the regulations on sponsorship mobilization for educational institutions in Vietnam? (Image from the Internet)

Must the plan to use sponsorship funds of educational institutions in Vietnam be disclosed before implementation?

Based on Clause 1, Article 7 of Circular 16/2018/TT-BGDDT which stipulates the management and use of sponsorship as follows:

Management and Use of Sponsorship

1. Educational institutions shall formulate a sponsorship usage plan, clearly identifying the purpose, beneficiaries; the method of organizing implementation, implementation progress; quality of activities, quality of products, projects along with detailed cost estimates in accordance with current standards and norms regulations.

The plan to use sponsorship funds must be disclosed and posted at least 15 working days before implementation to solicit feedback from staff, teachers, employees, students, parents, guardians (if any), and sponsors.

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Thus, the plan to use sponsorship funds of educational institutions must be publicly posted at least 15 working days before implementation to solicit feedback from staff, teachers, employees, students, parents, guardians, and sponsors.

Must educational institutions in Vietnam publicly disclose annual financial accounting and financial statements for sponsorship funds?

Based on Clause 3, Article 8 of Circular 16/2018/TT-BGDDT which stipulates regulations on financial reporting and financial transparency as follows:

Financial Reporting and Financial Transparency

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3. Educational institutions using sponsorship must publicly disclose the annual financial report and disclose the annual financial accounting for sponsorship funds.

a) The contents of financial disclosure include: Name of the sponsorship fund; name of the sponsor organization; the value of the sponsorship, the financial accounting; audit results (if any);

b) Form of financial report disclosure: Written report to the superior management authority authorized to approve the sponsorship solicitation plan and the corresponding financial authority; publicly posted at the headquarters of the sponsored educational institution and other methods;

c) Disclosure timing: The disclosure of the financial report must be carried out immediately after the end of the annual financial accounting period in accordance with the Law on State Budget and the Law on Accounting.

Thus, educational institutions must publicly disclose the annual financial accounting and financial statements for sponsorship funds.