Settlement of Revenue and Expenditure of the Management Board of State Audit Construction Investment Project

Finalization of revenues and expenditures of the Project Management Unit for State Audit Office construction investment is stipulated in Article 13 of Decision 1669/QD-KTNN in 2017 regarding the Organizational and Operational Regulations of the Specialized Sector Project Management Unit under the State Audit Office. Specifically:

- At the end of the planned year, within 90 days from the end of the annual accounting period as per legal regulations, the Specialized Sector Project Management Unit shall prepare financial statements according to the accounting policies applicable to the investor unit and simultaneously prepare a revenue and expenditure settlement report to submit to the competent authority as specified in Clause 1, Article 21 of Circular No. 72/2017/TT-BTC dated July 17, 2017, for approval as a basis for preparing the following year's budget estimate.

The revenue and expenditure settlement dossier for the year includes:

+ A submission letter requesting approval of the settlement;

+ Revenue and expenditure settlement report for the year following Form No. 02/QT-QLDA;

+ Expenditure documents arising during the year.

- Verification of annual revenue and expenditure settlement activities:

+ The competent authority approving revenue and expenditure settlement assigns a functional unit to organize verification before approval.

+ Content of verification:

Verification of the allocation of project management costs and investment consulting costs as per the years and the planned year.

Comparison of figures in the revenue and expenditure settlement report of the project management for the planned year according to Form No. 02/QT-QLDA of Circular No. 72/2017/TT-BTC dated July 17, 2017, with the approved or adjusted budget if any.

Verification of the legality and validity of expenditure documents as per the current regulations of the State.

- The verification and approval period for the settlement is within 14 working days after receiving the complete dossier. The decision to approve the annual revenue and expenditure settlement follows Form No. 02.QD/QT-QLDA of Circular No. 72/2017/TT-BTC dated July 17, 2017.

- Annually, the Specialized Sector Project Management Unit implements the allocation of management costs to the projects tasked with management per the principles:

+ For costs relating to consultancy work; receipt, storage of materials and equipment, etc., and other direct project costs, they are allocated directly to the respective projects;

+ The portion of general management costs will be allocated in proportion to the total investment level of the projects.

- When each project entrusted for management is completed and handed over for use, project management costs, investment construction consultancy fees, etc., calculated within the total investment of each project are finalized according to the predetermined deductions (percentage) or the budget approved by the competent authority within the total investment of the project.

The editorial board conveys this information to you.