Guidelines on Handling Year-End Budgets and Annual State Budget Settlements

Handling year-end budgets and annual state budget finalizations are outlined as follows:

1. For ongoing projects and schemes:

The remaining budget allocation and advances of ongoing projects and schemes assigned by the competent authority can be carried forward to the following year's budget for continued expenditure in accordance with policies (no approval from the competent authority is required).

The disbursed funds are to be finalized according to the regulations of the Law on State Budget and the guiding documents.

2. For completed projects and schemes:

The Vietnam Union of Science and Technology Associations and local unions are responsible for reviewing and finalizing the expenditure of completed projects and schemes, consolidating this information into the annual finalization report submitted to the corresponding financial authority for appraisal as prescribed.

The spending records and documents of the projects and schemes are to be prepared, managed, and stored by the hosting organizations in a conformable manner.

3. For the management funds of missions, consultancy activities, peer review, and social evaluation:

These are to be handled according to the regulations of the Law on State Budget and the guiding documents.

The spending records and documents are to be prepared, managed, and stored by the Vietnam Union of Science and Technology Associations and local unions in a conformable manner.

For detailed regulations, refer to Circular 11/2015/TT-BTC, effective from March 20, 2015.

- Le Hai -

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE