Hanoi-Vietnam: Management of cash at the provincial State Treasuries under the quarterly cash reserve norms

According to the provisions in Clause 5, Article 1 of Circular 136/2018/TT-BTC amending Clause 1, Article 9 of Circular 13/2017/TT-BTC, the management of cash at the State Treasuries of provinces and districts is carried out according to the quarterly cash reserve norms notified by the provincial State Treasury.

Illustrative image (source internet)

The quarterly cash reserve norms for branches of the State Treasury are determined by the following formula:

Where:

- Total cash payment demands in the planned quarter are the total cash payment demands of the State Budget and other cash payments at the provincial State Treasury or each district-level State Treasury; this is determined based on statistical data of cash payments from previous quarters and the ability to execute in the planned quarter.

The number of working days in the planned quarter is set at 65 days.

- Daily norm is regulated by the Director of the provincial State Treasury for both the provincial State Treasury and its subordinate district-level State Treasuries, depending on the cash payment demands in the quarter and the number of transactions of depositing and withdrawing cash between the State Treasury and the bank where the account is opened.

Quarterly (before the 25th of the last month of the quarter), the provincial State Treasury is responsible for determining and notifying the provincial State Treasury and its subordinate district-level State Treasuries of the quarterly cash reserve norms for the next quarter. If by that time the provincial State Treasury has not notified the quarterly cash reserve norms, the branches of the State Treasury shall comply with the previously notified quarterly cash reserve norms.

The State Treasuries of provinces and districts are allowed to use cash receipts generated in their units to meet cash payment demands, ensuring not to exceed the quarterly cash reserve norms notified by the provincial State Treasury.

See additional regulations in Circular 136/2018/TT-BTC effective from April 1, 2019.

Thu Ba

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE