Guidance on Managing Financial Activities of National Sports Associations

00:45, 10/07/2024

Recently, the Minister of Culture, Sports, and Tourism has signed and promulgated Circular 01/2013/TT-BVHTTDL stipulating several state management tasks for national sports associations.

Regarding the management of financial activities for national sports associations, it is implemented according to the provisions of Article 16 of Circular 01/2013/TT-BVHTTDL, specifically as follows:

Financial management of national sports associations, Circular 01/2013/TT-BVHTTDL

Illustration (source internet)

- The General Department of Sports and Physical Training monitors and inspects national sports associations' implementation of the State's financial - accounting policies, including tax payments, purchase of various types of insurance, payment of membership fees, and fees to international sports organizations as per current regulations; liquidation and sale of real estate properties of national sports associations; receipt, management, and use of sponsorship funds for national sports associations according to legal provisions on finance.- Upon completing activities associated with state-assigned tasks as prescribed, national sports associations compile a comprehensive report on the expenditure of State-supported funds to the General Department of Sports and Physical Training and the corresponding finance authority for monitoring and management.- Within 45 (forty-five) days after the end of the financial year, national sports associations must submit financial settlement reports according to State regulations to the General Department of Sports and Physical Training and the corresponding finance authority.

Refer to related provisions in Circular 01/2013/TT-BVHTTDL effective from March 1, 2013.

Tue Ba

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