Responsibilities and Powers of Investors in the Use of State Budget Construction Investment Funds

Responsibilities and Powers of Investors in Using State Budget Construction Investment Funds (Illustrative Image)

Circular 85/2014/TT-BTC stipulates the responsibilities and powers of investors in using construction investment funds from the state budget to implement the Forest Protection and Development Plan as follows:

- Perform the assigned functions and tasks according to regulations, receive and use funds for the right purposes, for the right subjects, and effectively. Comply with the law regarding policies on financial management for development investment;- Be responsible for the accuracy and legality of the implemented volume, compliance with the quotas, prices, and estimates of work types approved by the competent authority; quality of the works and the value requested for payment; ensure the accuracy, honesty, and legality of the data and documents provided to the State Treasury and state functional agencies;- When the volume meets the payment conditions according to the contract, promptly conduct acceptance, prepare complete payment dossiers, and request payment to the contractor within the time specified in the contract;- Based on the current provisions of the Insurance Law and the Construction Law, the investor shall purchase insurance for investment projects;- Report promptly and fully according to regulations to the investment decision-making agency and relevant state bodies; provide sufficient dossiers, documents, and information as regulated to the State Treasury and the Finance Agency for management and payment of funds; subject to inspection by the Finance Agency, State Treasury, and the investment decision-making agency regarding the use of investment funds and compliance with state policies on financial investment development;- Regularly check the status of advanced capital among contractors, inspect before, during, and after advancing capital to contractors, and ensure the recovery of advanced capital in conformity;- Implement accounting according to the accounting policies of the investor unit; finalize investment funds according to current regulations. At the end of the fiscal year, prepare a statement reconciling annual investment payment data submitted to the State Treasury where the investor transacts for confirmation at two points in time: by the end of January 31 of the following year and by the end of June 30 of the following year according to Form No. 08/DCSLTT attached to this Circular;- Request payment when conditions are met and request the State Treasury to respond and explain unsatisfactory contents during the payment process.

Details can be found in Circular 85/2014/TT-BTC effective from August 15, 2014.

Ty Na

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