Expenditure content for management activities of Vinacam Study Encouragement Fund

Expenditure content for management activities of Vinacam Study Encouragement Fund (Internet image)

Regarding this issue, LawNet would like to answer as follows:

1. Expenditure content for management activities of Vinacam Study Encouragement Fund

Expenses for management activities of the Vinacam Study Encouragement Fund include:

- Expenses for hiring staff and allowances for the fund management apparatus;

- Social insurance, unemployment insurance, health insurance, and prescribed contributions;

- Office rental expenses (if any);

- Expenses for purchasing and repairing office supplies and assets to serve the Fund's operations;

- Payment for public services serving the fund's activities;

- Expenditures on business trips incurred to do the tasks of mobilizing, receiving, transporting, and distributing money and relief goods;

- Expenses for activities related to the implementation of common tasks in the process of mobilizing, receiving, transporting, and distributing money and relief goods (rental for warehouses and yards; costs for packing and transporting goods; money transfer costs; costs related to the distribution of money and relief goods);

- Other expenses related to the Fund's activities according to the regulations of the Fund Management Council and the provisions of law.

(Clause 1, Article 21 of the Second Charter (amended and supplemented) of the Vinacam Study Promotion Fund issued together with Decision 512/QD-BNV in 2023)

2. Expenditure norms for Vinacam Study Promotion Fund management activities

- The Fund Management Council specifically stipulates the expenditure ratio for Fund management activities to be no more than 5% (five percent) of the Fund's total annual revenue (excluding: sponsorship in kind, State sponsorship to carry out public services, scientific research projects, target programs, projects ordered by the State and grants with the amount and address of the recipient).

- In case the actual spending need for fund management activities exceeds 5% (five percent) of the fund's total annual revenue, the Fund Management Council regulates the expenditure level but must not exceed 10% (ten percent) of the fund's total annual revenue;

- In case the fund's management expenses are not fully used at the end of the year, they can be transferred to the next year and continue to be used in accordance with the provisions of the law and the Fund's Charter.

(Clause 2, Article 21 of the Second Charter (amended and supplemented) of the Vinacam Study Promotion Fund issued together with Decision 512/QD-BNV in 2023)

3. Revenue sources of Vinacam Study Promotion Fund

The revenue source of the Vinacam Study Promotion Fund is specified in Article 19 of the second Charter (amended and supplemented) of the Vinacam Study Promotion Fund issued with Decision 512/QD-BNVin 2023 as follows:

- Revenue from voluntary contributions and legal sponsorship from domestic and foreign organizations and individuals in accordance with the provisions of law. The Fund's revenue does not include the assets of the founders who contributed to establishing the Fund.

- Revenue from service provision activities or other activities as prescribed by law.

- Funding provided by the state budget (if any), including:

+ Carry out tasks assigned by state agencies;

+ Implement public services, scientific research projects, target programs, and projects ordered by the State.

- Revenue from bank deposit interest.

- Other legal revenues.

4. Use of Vinacam Study Promotion Fund

- Expenditure principles: economic and effective in accordance with the Fund's principles, purposes, tasks, and objects, in accordance with the provisions of the law and the Fund's Charter.

- Funding expenses, including: expenses for activities to carry out the functions, tasks, and powers of the Fund as prescribed in Articles 5 and 6 of the Fund Charter.

- Receiving and using aid from foreign non-governmental organizations (if any) is implemented in accordance with Decree 80/2020/ND-CP dated July 8, 2020 of the Government on the management and use of non-refundable aid that is not part of the official development assistance of foreign agencies, organizations, and individuals for Vietnam and related documents.

- Expenses for implementing public services, scientific research projects, target programs, projects ordered by the State or other tasks assigned by state agencies.

- Expenses for Fund management activities.

- Save the Fund's idle money in the bank (excluding state budget funding, if any).

- Expenses for providing services or other activities.

- Sources of funding and other support (if any): used at the request of the sponsor based on the provisions of the Fund Charter and the provisions of law to ensure publicity, transparency, and legality.

(Article 20 of the second Charter (amended and supplemented) of the Vinacam Study Promotion Fund issued together with Decision 512/QD-BNV in 2023)

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