Guidance on Preparation and Allocation of Budget Estimates for Building TCVN, QCKT

According to Circular 27/2020/TT-BTC, the planning, allocation, execution, and settlement of the budget for the development of TCVN and QCKT shall be implemented according to the provisions of the Law on State Budget and the guiding documents. This Circular specifically guides a few main contents as follows:

Illustration (Source: Internet)

First, budget planning:

- Annually, based on the guidance for the construction of the state budget estimates from competent authorities; based on the content, requirements, and workload for the development of TCVN and QCKT projects; and based on the current financial spending policies and regulations outlined in this Circular, units assigned to lead the development of TCVN and QCKT shall prepare budget estimates for the development of TCVN and QCKT and submit them to the managing agency.

- Ministries, sectors, and localities, based on the plan for the development of TCVN and QCKT within their management scope and the budget estimates for the development of TCVN and QCKT prepared by subordinate units as per this Circular, shall compile and consolidate them into the estimates of the Ministry, sector, or locality and submit them to the competent authority for approval as per regulations.

Second, allocation and delivery of budget estimates: Based on the state budget expenditure estimates assigned by the competent authority, Ministries, sectors, and localities shall allocate and distribute the budget for the development of TCVN and QCKT according to the spending contents stipulated by the Law on State Budget, guiding documents, and this Circular. This information must also be sent to the same-level financial body and the State Treasury where transactions occur for inspection and execution.

Third, implementation of the budget expenditure estimates

- Units using the budget shall withdraw the budget estimates at the State Treasury where transactions occur, based on the budget expenditure estimates assigned by the competent state authority.

- The State Treasury where transactions occur shall control and pay expenditures according to the provisions of Decree 11/2020/ND-CP dated January 20, 2020, of the Government of Vietnam, which regulates administrative procedures in the field of the State Treasury and guiding documents.

Fourth, settlement

- Report of settlement

Units assigned budget estimates for the development of TCVN and QCKT must carry out the work of closing accounting books and preparing settlement reports. The procedure for preparation, report forms, submission time, and responsibilities for approval and appraisal of settlement reports shall be performed according to current regulations.

The budget for the development of TCVN and QCKT shall be settled in accordance with the source of funds used and aligned with the corresponding expenditure items of the state budget list as per current regulations and included in the annual settlement report of the agency or unit.

- Review and appraisal of settlement reports

The review and appraisal of annual settlement reports for the budget of the development of TCVN and QCKT shall be conducted according to the provisions of Circular 137/2017/TT-BTC dated December 25, 2017, of the Ministry of Finance, which provides for the review, appraisal, announcement, and aggregation of annual settlements.

In addition, Circular 27 stipulates the responsibilities of units, organizations, and individuals in charge of developing TCVN and QCKT as follows:

- Units and organizations in charge of developing TCVN and QCKT must comply with regulations on the management and use of funds for the development of TCVN and QCKT as per the current Law on State Budget, guiding documents, and specific provisions of this Circular.

- The person in charge shall be responsible for the content and results of the research for the development of TCVN and QCKT as per the approved project; responsible for reporting and explaining the expenditure settlement figures to the unit or organization in charge.

- The units and organizations in charge are responsible for managing, monitoring, and regularly checking the implementation status. They are responsible for checking, reviewing, and approving the expenditure settlements for the development of TCVN and QCKT and consolidating them into the settlement report of the agency or unit to submit to the managing agency for consolidation to the same-level financial body as per regulations.

More details can be found in: Circular 27/2020/TT-BTC effective from June 5, 2020.

Tuesday

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