Circular No. 109/1999/TT-BTC guides the tasks, powers, and organizational structure for managing corporate finance of the Department of Finance and Price Control of provinces and centrally governed cities.

CIRCULAR

Guidelines for tasks, powers, and organizational structure

of financial management of provincial Departments of Finance and Prices

municipal inspectorate under central-level municipalities

Pursuant to Decree No. 84/1999/NĐ-CP dated August 28, 1999 of the Government on restructuring the State Capital and Asset Management General Department under the Ministry of Finance; after receiving the unified opinion of the Government's Organizational and Cadre Board, the Ministry of Finance provides guidelines for the tasks, powers, and organizational structure of financial management of provincial Departments of Finance and Prices as follows:

1. The Provincial Department of Finance and Prices shall have the following tasks in managing enterprise finance:

1.1- Assist the provincial People's Committee and the Ministry of Finance in state management of enterprise finance within their jurisdiction:

- Guide the implementation of policies and regulations on financial management, accounting, auditing of enterprises, and the management, preservation, and development of state capital in enterprises.

- Study and propose issues related to enterprise finance; forecast the ability to mobilize finance from enterprises.

- Inspect the implementation of financial and accounting systems in enterprises established or partially funded by localities and non-state-owned enterprises as prescribed by law; report periodically to the provincial People's Committee (hereinafter referred to as the provincial People's Committee) and the Ministry of Finance. Carry out certain tasks in managing central enterprise finance according to the authorization of the Minister of Finance.

- Summarize, analyze, and evaluate the financial situation of enterprises and report to the provincial People's Committee and the Ministry of Finance as stipulated by the Minister of Finance.

1.2- Assist the provincial People's Committee in managing capital and assets belonging to the state in enterprises established or partially funded by localities:

- Guide enterprises in inventorying and evaluating assets; determine the amount of state capital currently present in enterprises and organize the transfer of state capital to enterprises according to the authorization of the Chairman of the provincial People's Committee.

- Organize the evaluation and determination of the value of enterprises and the value of state capital in enterprises in cases of dissolution, bankruptcy, or ownership conversion; guide and supervise the handling of state capital in cases of merger, consolidation, division, dissolution, bankruptcy, and ownership conversion of state-owned enterprises; supervise the distribution of post-tax profits and the use of funds at enterprises.

- Forecast the financial situation of enterprises, plans for tax revenue collection from enterprises, and annual financial support needs for enterprises.

- Recommend measures to handle capital and assets exceeding the authority of enterprises.

- Appraise the need for annual financial support and allocate financial support funds for enterprises. Participate in opinions on business development strategies, plans, product pricing, and service fees as specified by the provincial People's Committee; unit prices for wages, and enterprise rankings as prescribed by the State.

- Inspect the implementation of financial and accounting policies and regulations of enterprises; review annual financial reports, determine the ability to repay debts, and the level of preservation and development of state capital in enterprises.

- Summarize, analyze, and evaluate the management, preservation, and development of state capital in enterprises by economic sector to report to the provincial People's Committee and the Ministry of Finance as stipulated.

1.3- Manage the Financial Support Fund for enterprises in the locality authorized by the Chairman of the provincial People's Committee.

1.4- Perform other tasks assigned by the Minister of Finance or the Chairman of the provincial People's Committee.

1.5- Be subject to guidance and inspection by the Enterprise Finance Department regarding professional matters in managing enterprise finance and state capital and assets in enterprises.

2. The Provincial Department of Finance and Prices has the following powers in managing enterprise finance:

2.1- Directly transact with organizations and state agencies to carry out assigned tasks.

2.2- Require state-owned enterprises under the locality and other enterprises within the jurisdiction to submit financial reports and relevant documents on investment, business operations, and financial activities as prescribed by law.

2.3- Decide on periodic or spot inspections of enterprise finances as prescribed by law, handle financial issues within the scope of state financial policies and regulations; request enterprises to provide and explain documents related to financial inspections and supervision and asset management as prescribed by law.

2.4- Sign documents guiding and explaining regulations on enterprise financial management and state capital management in enterprises.

3. The Provincial Department of Finance and Prices shall be organized as follows:

3.1- In provinces and centrally-administered cities: Hanoi, Ho Chi Minh City, Hai Phong, Da Nang, Quang Ninh, Hai Duong, Thanh Hoa, Dong Nai, Binh Duong, and Ba Ria-Vung Tau, there shall be an Enterprise Finance Sub-department directly under the Provincial Department of Finance and Prices.

The Enterprise Finance Sub-department shall have three divisions:

- Industrial, Construction, and Transportation Finance Division

- Agricultural, Fisheries, Commerce, Services, and Other Industries Finance Division

- Administrative, Comprehensive, and Non-State-Owned Enterprise Finance Division

Specifically, the Hanoi and Ho Chi Minh City Enterprise Finance Sub-departments shall have four divisions:

- Industrial, Construction, and Transportation Finance Division

- Agricultural and Fisheries Finance Division

- Commerce, Tourism, and Other Economic Sectors Finance Division

- Administrative, Comprehensive, and Non-State-Owned Enterprise Finance Division

The Enterprise Finance Sub-department shall have a Sub-department Director concurrently held by a Deputy Director of the Provincial Department of Finance and Prices and one or two Deputy Sub-department Directors.

The Enterprise Finance Sub-department shall have its own seal. The staffing and operating budget of the Enterprise Finance Sub-department belong to the staffing and budget of the Provincial Department of Finance and Prices and are determined by the Director of the Provincial Department of Finance and Prices.

3.2- Other provinces shall have an Enterprise Finance Division as a unit under the Provincial Department of Finance and Prices.

The staffing of the Enterprise Finance Division belongs to the staffing of the Provincial Department of Finance and Prices.

3.3-The Director of the Department of Finance and Prices shall coordinate with competent agencies to submit to the People's Committee of the province for decision on the establishment, organizational structure, and appointment of leadership positions at the Business Finance Inspection Agency or Business Finance Department within their authority.

4. Based on this Circular, the People's Committees of provinces and centrally governed cities shall direct the Department of Finance and Prices and the Civil Service Board to implement the organization and operation of the business finance apparatus to commence operations from October 1, 1999. Any difficulties or obstacles encountered during implementation shall be reported to the Ministry of Finance for study and resolution.