The Law on Thrift Practice and Waste Prevention 2013 officially took effect on July 01, 2014. One of the three main areas stipulated in this Law is the practice of thrift and prevention of waste in the management and use of the state budget, state capital, and state assets. So what are the specific provisions regarding the management and use of the state budget?
According to the provisions of Article 18 of the Law on Thrift Practice and Waste Prevention 2013, the management of the state budget shall be implemented as follows:
- The management of state budget funds must be based on the estimates approved by the competent authorities, associated with the results and progress of task performance, and in line with administrative reform requirements.
- Agencies and organizations managing state budget funds have the responsibility to:- Develop the Program on Thrift Practice and Waste Prevention, specifically determining the objectives, saving targets, and waste prevention requirements to be assigned to the using agencies and organizations to ensure savings and efficiency;- Within the scope of their authority, regulate synchronized policies to ensure the implementation of thrift practice and waste prevention;- Conduct inspections, audits, and financial examinations regarding the use of state budget funds as prescribed by law.
- The head of the agency or organization is responsible for organizing the implementation of the provisions in Clauses 1 and 2 of this Article; regularly assessing the results of the achieved saving objectives and waste prevention requirements; addressing violations and waste as a result of internal audit findings and the conclusions of the State Audit, inspection, and examination agencies.
Additionally, Article 19 of the Law on Thrift Practice and Waste Prevention 2013 also stipulates that the use of the state budget must ensure correct purposes, subjects, norms, standards, and policies within the assigned estimate, associated with the completion of the agency's or organization's tasks.
- Agencies, organizations, and individuals using state budget funds are responsible for developing plans, measures, and organizing the implementation to achieve the assigned saving objectives and waste prevention requirements, ensuring task completion.
- The head of the agency or organization regularly evaluates the results of the assigned saving objectives and waste prevention requirements, ensuring that the use of state budget funds serves the correct purposes, subjects, norms, standards, and policies.
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