What is spending norm for management activities of the Vietnam Social Security Program and Project Support Fund?

What is spending norm for management activities of the Vietnam Social Security Program and Project Support Fund?

In Clause 2, Article 22 of the Charter of the Vietnam Social Security Program and Project Support Fund issued with Decision 434/QD-BNV in 2022, there are regulations on spending norms for management activities of the Vietnam Social Security Program and Project Support Fund as follows:

2. Expenditure norms for Fund management activities:

a) The Fund Management Council specifically stipulates the expenditure ratio for Fund management activities, not exceeding 5% (five percent) of the Fund's total annual revenue (not including: in-kind sponsorship, financial State aid to carry out public services, scientific research projects, target programs, projects ordered by the State and grants with amount and address of recipient)

b) In case the actual spending need for Fund management activities exceeds five percent (5%) of the Fund's total annual revenue, the Fund Management Council shall stipulate the spending level but must not exceed 10% of Fund's total annual revenue;

c) In case the Fund's management expenses are not fully used at the end of the year, they can be transferred to the next year and continue to be used according to regulations.

What is spending norm for management activities of the Vietnam Social Security Program and Project Support Fund? (Image from the Internet)

What is financial and asset management of the Vietnam Social Security Program and Project Support Fund?

In Article 23 of the Charter of the Vietnam Social Security Program and Project Support Fund issued with Decision 434/QD-BNV in 2022, there are regulations on financial and asset management of the Vietnam Social Security Program and Project Support Fund are as follows:

1. The Fund Management Council promulgates regulations on management and use of assets, finance, revenue sources, and spending norms of the Fund; Approve the spending ratio for Fund management in accordance with the provisions of law and the Fund's Charter, approve the financial plan, and review the Fund's annual financial settlement.

2. The Fund's Supervisory Board is responsible for inspecting and supervising the Fund's activities and reporting and making recommendations to the Management Council on the Fund's asset and financial situation.

3. The Fund Director shall comply with the regulations on management and use of assets, finance, revenue sources, and spending norms of the Fund in accordance with the resolutions of the Management Council on the basis of the assigned operational tasks. The Fund Management Council approves that assets and finances are not used for activities other than the Fund's principles and purposes.

4. The Fund Management Council and the Fund Director are responsible for disclosing the Fund's assets and finances quarterly and annually according to the following contents:

a) List, amount of money, in-kind contributions, sponsorship, and support from organizations and individuals to the Fund;

b) List, amount of money, and items received by organizations and individuals from the Fund; publicize the results of use and finalize revenue and expenditure of each contribution;

c) Report on the Fund's assets, finances and quarterly and annual settlement according to each revenue and expenditure content according to the Accounting Law and its guiding documents.

5. For expenditures for each campaign, reporting on the results of the campaign and relief is carried out in accordance with current regulations on mobilization, receipt, distribution and use of voluntary contributions. Support people to overcome difficulties caused by natural disasters, fires, and patients with serious diseases.

6. The Fund must publicly disclose its financial statements and annual Fund settlement according to current regulations.

Best regards!