Regulations on the Method of Transferring Funds from the Road Maintenance Fund

15:26, 11/07/2024

On June 15, 2017, the Ministry of Finance issued Circular 60/2017/TT-BTC specifying the method of transferring funds from the Road Maintenance Fund.

The method of transferring the Road Maintenance Fund's finances is specifically regulated by Circular 60 as follows:

For the Central Fund

- Based on the budget estimate provided by the Ministry of Finance and the Central Fund's expenditure forecast, the Central Fund Management Council decides the allocation and transfer of the Central Fund's finances to the Directorate for Roads, the Department of Transport (for national highways authorized for management), other units (if any), the Central Fund's Office, and sends it to the State Treasury. The State Treasury transfers the funds to the accounts at the State Treasury where the transactions of the agencies and units occur.

For the Local Fund

- Based on the provided budget estimate and the Local Fund's expenditure forecast, the Local Fund Management Council decides the allocation and transfer of the Local Fund's finances to the agencies and units assigned with tasks and the management costs of road maintenance in the local area, and sends it to the local State Treasury. The local State Treasury transfers the funds to the accounts at the State Treasury where the transactions of the agencies and units occur.

See details at Circular 60/2017/TT-BTC, effective from August 01, 2017.

-Thao Uyen-

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