Vietnam: Financial sources and expenditures of private intermediate professional schools

Vietnam: Financial sources and expenditures of private intermediate professional schools (Illustrative image)

According to Article 19 of the Regulations promulgated with Circular 39/2012/TT-BGDDT, the financial sources of private intermediate professional schools in Vietnam include:

- Capital voluntarily contributed by members;

- Capital from organizations and financial institutions for investment in expanding physical facilities to improve the quality of training and scientific research;

- State budget funds allotted to perform tasks assigned by the State;

- Tuition fees and charges collected from students based on the rate set by the school, ensuring cost recovery and compliance with legal provisions;

- Other sources, including:

+ Revenue from joint training, scientific research, technology transfer, pilot production, and other production and service activities as prescribed by law;

+ Interest from deposits at banks, State Treasury, and credit institutions;

+ Investments, sponsorships, aids, and donations (in cash and in-kind) from domestic and foreign organizations and individuals;

+ Loans granted by banks, credit institutions, and individuals;

- Other legitimate revenue.

Note: The expenditures of private intermediate professional schools in Vietnam include:

- Expenditures for employees: wages, salaries, salary allowances, social insurance premiums, health insurance premiums for employees, rewards;

- Expenditures for learners: scholarships, rewards;

- Expenditures for cultural, artistic, and sports activities;

- Expenditures for professional teaching and learning activities, development of training programs, compilation of teaching materials;

- Administrative management costs;

- Payment for renting facilities, purchasing assets, regularly repairing facilities, fixed assets, and teaching equipment;

- Expenditures for production activities, service provision, and tax obligations;

- Depreciation of fixed assets;

- Payment of principal and interest on loans;

- Expenditures for school development investments: expanding land, constructing physical facilities for classrooms, workshops, laboratories, libraries, teaching, and learning equipment; recruiting additional staff and teachers, training, and retraining the capacity for teachers and staff; conducting scientific research and technology application; renewing and developing training programs and departments;

- Humanitarian and charitable activities;

- Other expenditures in compliance with legal regulations.

More details may be found in Circular 39/2012/TT-BGDDT effective from December 20, 2012.

Le Vy

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