Preparation and Approval of the Central Fund's Revenue and Expenditure Settlement Report

Circular 60 stipulates the preparation and approval of the centralized fund’s revenue and expenditure finalization report as follows:

- Revenue finalization: Units collecting road usage fees prepare the revenue finalization report and submit it to the Central Fund Management Council, along with other revenues in accordance with current regulations.- Expenditure finalization: Units assigned to manage and utilize the centralized fund prepare expenditure finalization reports following the templates and requirements for state budget expenditure finalization as per current regulations.

The finalization report should be accompanied by a report on the list of projects assigned in the year for finalization, detailing expenditures as regulated.

Additionally, Circular 60 outlines the content, review process, appraisal, and annual finalization notification as guided by the Ministry of Finance concerning the review, appraisal, and notification of annual finalization for administrative bodies, public service providers, state-supported organizations, and all levels of budgets, including:

- The General Department of Vietnam Roads is responsible for reviewing the annual finalization of the road management departments, Departments of Transport (for national highways authorized for management), and other units; consolidating and sending it to the Central Fund Management Council.- The Central Fund Management Council is responsible for approving the operating expenditure finalization of the Central Fund Office.- The Central Fund Management Council approves the revenue and expenditure finalization of the centralized fund and submits it to the Ministry of Transport. The Ministry of Transport is responsible for appraising the annual finalization of the centralized fund and consolidating it into its finalization report, sending it to the Ministry of Finance.- The Ministry of Finance is responsible for appraising the annual finalization of the Ministry of Transport, including the centralized fund's finalization, and consolidating it into the state budget finalization report as regulated.

At the end of the year, the surplus funds of the centralized fund shall be transferred to the following year according to the State Budget Law and its guiding documents.

Refer to Circular 60/2017/TT-BTC here, effective from August 1, 2017.

-Thao Uyen-

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