The Minister of Finance of Vietnam issued Circular No. 65/2021/TT-BTC on July 29, 2021 regulates the estimate, management, use and settlement of expenses for maintenance and repair of public assets.
Article table of contents
According to the Circular No. 65/2021/TT-BTC of the Finance Ministry of Vietnam, the cost estimate for maintenance and repair of public property is prescribed as following:
(1) The cost estimate for the maintenance and repair of public property shall comply with the regimes, standards, economic-technical norms, and the provisions of law on the state budget of Vietnam.
(2) Circular No. 65/2021/TT-BTC additionally guides the provisions on cost estimate as following:
- Annually, based on the competent authorities' guidance on formulation of state budget estimates, the responsibility for maintenance and repair of public property and the economic and technical regulations, standards and norms for the maintenance and repair of public property as specified in Article 3 of this Circular; agencies and units assigned to manage and use public property shall estimate costs for maintenance and repair of public assets, synthesize them into their estimates, and send them to the competent authority. above to consider and synthesize them into the cost estimate of the level I estimate unit and send it to the finance agency of the same level and submit it to the competent level in accordance with the law on state budget of Vietnam;
- Dossiers and documents enclosed with cost estimates for maintenance and repair of works and construction equipment; including: name of public property in need of maintenance and repair; nearest time of maintenance and repair of public property; reasons, objectives, workload of maintenance and repair; estimated cost, implementation time and completion time.
(3) During the year, the agency or unit has a need for maintenance and repair of public property outside the assigned estimate, the agency or unit self-arranges within the assigned estimate and ensures documents as prescribed in Clauses 1 and 2 of this Article.
(4) In case of damage to public property due to natural disasters, epidemics, fire or other force majeure reasons, public property management agencies or units are unable to balance the repair costs from the estimated cost estimates assigned; based on the report on assessment of damage to public property, agencies and units assigned to manage and use public property estimate the cost of repair and restoration of normal operation of public property. The superior management agency shall consider and summarize and send it to the finance authority of the same level to submit to the competent authority for decision on allocating funds for repair, remedial damage, and restore normal operation of public property in accordance with the level of public property. damage level, according to the state budget balance ability and in line with the state budget decentralization.
The cost estimates for repair and restoration of normal operation of public property shall comply with the provisions of Clauses 1 and 2 of this Article.
Circular No. 65/2021/TT-BTC of the Finance Ministry of Vietnam takes effect from September 15, 2021.
