Funding Sources and Expenditures of Private Intermediate Schools

Financial Sources and Expenses of Private Vocational Schools (Illustrative image)

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

- Capital contributions from members, contributed on a voluntary basis;- Capital from organizations and financial institutions for investment in expanding physical facilities to improve the quality of training and scientific research;- State budget allocations to perform tasks assigned by the State;- Tuition fees and charges collected from students based on the level set by the school, ensuring cost recovery, in accordance 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, donations (in cash and in-kind) from domestic and foreign organizations and individuals;- Loans from banks, credit institutions, and individuals;- Other legitimate revenue.

Note: The expenses of private vocational schools include:

- Expenses for employees: wages, salaries, salary allowances, social insurance contributions, health insurance for employees, rewards;- Expenses for students: scholarships, rewards;- Expenses for cultural, artistic, and sports activities;- Expenses for professional teaching and learning activities, developing training programs, compiling teaching materials;- Administrative management costs;- Payment for renting facilities, purchasing assets, regular repair of facilities, fixed assets, teaching equipment;- Expenses for production activities, service provision, and tax obligations;- Depreciation of fixed assets;- Repayment of principal and interest on loans;- Expenses for school development investments: expanding land, constructing physical facilities for classrooms, workshops, laboratories, libraries, teaching and learning equipment; recruitment of additional staff and teachers, training, and capacity building for teachers and staff; scientific research and technology application; renewing and developing training programs and departments;- Humanitarian and charitable activities;- Other expenses in compliance with legal regulations.

For more details, see Circular 39/2012/TT-BGDDT, effective from December 20, 2012.

Le Vy

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