Guidance on allocating merit money excluding purposeful funds allocated to the Monument Management Board in Vietnam

Guidance on allocating merit money excluding purposeful funds allocated to the Monument Management Board in Vietnam (Image from Internet)

1. Guidance on allocating merit money excluding purposeful funds allocated to the Monument Management Board in Vietnam

According to the provisions of Clause 2, Article 14 Circular 04/2023/TT-BTC, the allocation and use of received merit money, sponsorship money after deducting amounts with specific purposes and addresses assigned to the Monument Management Board are managed and utilized as follows:

- Deduction at a percentage (%) rate to create a fund for repair and restoration of other monuments within the provincial area (not applicable to monuments with low merit money and sponsorship income that is insufficient for festival activities and regular expenses): This amount is transferred to a separate account of the Department of Culture, Sports, and Tourism as stipulated in Article 16 of Circular 04/2023/TT-BTC (if applicable);

- Deduction at a percentage (%) rate to fund festival activities as regulated in Article 5 Circular 04/2023/TT-BTC (applicable to monuments with festival activities organized periodically by state agencies at the monuments). If the Monument Management Board is not assigned by the Festival Organizing Committee to manage and use the festival funds, this amount is transferred to the account of the unit assigned by the Festival Organizing Committee to manage and use the festival funds as stipulated at point a Clause 2 Article 5 of Circular 04/2023/TT-BTC;

- Deduction at a percentage (%) rate to cover regular activities of the Monument Management Board as governed by Clause 1 Article 15 Circular 04/2023/TT-BTC;

- The remaining funds are retained to cover special expenses as stipulated in Clause 2 Article 15 of Circular 04/2023/TT-BTC. At the end of the year, any surplus funds (if any) are carried over to the following year to continue to be used for the unique tasks of the monument.

Specific deductions as outlined in points a, b, c, and d of Clause 2 Article 14 Circular 04/2023/TT-BTC are implemented as regulated by the provincial People's Committee.

2. Guidance on allocating merit money excluding purposeful funds allocated to public service providers for management and use in Vietnam

Received merit money and sponsorship funds (after deducting amounts with specific purposes and addresses) are allocated and used as follows:

- Deduction at a percentage (%) rate to create a fund for repair and restoration of other monuments within the provincial area (not applicable to monuments with low merit money and sponsorship income that is insufficient for festival activities and regular expenses): This amount is transferred to a separate account of the Department of Culture, Sports, and Tourism as stipulated in Article 16 of Circular 04/2023/TT-BTC (if applicable);

- Deduction at a percentage (%) rate to fund festival activities as regulated in Article 5 Circular 04/2023/TT-BTC (applicable to monuments with festival activities organized periodically by state agencies at the monuments). If the unit is not assigned by the Festival Organizing Committee to manage and use the festival funds, this amount is transferred to the account of the unit assigned by the Festival Organizing Committee to manage and use the festival funds as stipulated at point a Clause 2 Article 5 of Circular 04/2023/TT-BTC;

- Deduction at a percentage (%) rate to cover regular activities of the unit as governed by Clause 1 Article 15 Circular 04/2023/TT-BTC. The unit may autonomously use these funds according to the internal spending regulations of the unit and they are included in the income to determine the self-assurance level of regular expense as stipulated at point a Clause 1 Article 10 of Decree 60/2021/ND-CP;

- The remaining funds are retained to cover special expenses as stipulated in Clause 2 Article 15 of Circular 04/2023/TT-BTC. At the end of the year, any surplus funds (if any) are carried over to the following year to continue to be used for the special duties of the monument.

Public service providers are responsible for creating a new Decision or amending and supplementing the Decision regarding the reception, management, and usage of merit money and sponsorship money applicable to the monument, specifying the deduction levels according to points a, b, c, and d of Clause 2 Article 13 of Circular 04/2023/TT-BTC; report to the superior management authority for consideration, and send to the Department of Finance to preside, cooperate with relevant agencies, units, organizations, and individuals to propose to the provincial People's Committee for issuance.

(According to Clause 2 Article 13 Circular 04/2023/TT-BTC)

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