Circular No. 116/1998/TT-BTC guiding financial management for the Association of the Elderly

CIRCULAR

Guidelines for financial management of the Vietnam Association of the Elderly

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Pursuant to Decree No. 87/CP dated December 19, 1996 of the Government guiding the implementation of the decentralization of budget management, preparation, execution, and settlement;

To create favorable conditions for the Vietnam Association of the Elderly to fulfill its functions and tasks, after reaching consensus with the Vietnam Association of the Elderly, the Ministry of Finance guides the implementation of Point 1 and Point 2 (Sub-item b) of Directive No. 117/TTg dated February 27, 1996 of the Prime Minister as follows:

1. ON THE SOURCES OF FUNDS FOR THE ASSOCIATION'S OPERATIONS.

The operating funds of the Vietnam Association of the Elderly are raised from various sources: membership fees, donations and support from organizations and individuals both domestically and internationally, sponsorship from all levels of government and social organizations, income from lawful economic activities of the Association. The State budget supports part of the necessary activities of the Association according to the assigned tasks and the annual budget capacity.

2. CONTENTS OF EXPENSES FROM THE STATE BUDGET SUPPORT FOR THE ASSOCIATION

+ At the central level: The central budget partially supports the Vietnam Association of the Elderly for expenses related to information dissemination, elderly clubs, office space, meetings, office supplies, postal charges, and other regular administrative expenses as prescribed.

+ At the local level: The Vietnam Association of the Elderly is a member organization of the Fatherland Front. Provincial, municipal, district, and town People's Committees base on their annual local budget capacity to provide financial support to the Vietnam Association of the Elderly through the Fatherland Front at the provincial, municipal, district, and town levels for printing materials, organizing conferences, postal charges, and allowances for part-time staff responsible for bridging the gap between grassroots elderly associations and the Vietnam Association of the Elderly.

+ At the commune, ward, and town level: Within the scope of the financial resources allocated and guided by Circular No. 14/TC-NSNN dated March 28, 1997 of the Ministry of Finance on the management of revenue and expenditure of commune, ward, and town budgets, Commune, Ward, and Town People's Committees decide on the level of financial support for grassroots elderly associations to ensure they have a place to meet and operate, hold meetings, purchase books and newspapers, and engage in club activities.

3. FINANCIAL MANAGEMENT WORK.

- The Vietnam Association of the Elderly manages funds and complies with the reporting and settlement system for funds as stipulated in Decision No. 999/TC-CĐKT dated November 2, 1996 of the Ministry of Finance on the issuance of the accounting system for state-owned enterprises and Circular No. 09/TC-NSNN dated March 18, 1997 of the Ministry of Finance guiding the implementation of Decree No. 87/CP dated December 19, 1996 of the Government on the decentralization of budget management, preparation, execution, and settlement.

- All assets of the Vietnam Association of the Elderly funded by the State budget are managed under the current asset management regulations of the State.

- Settlement of the Association's funding sources is as follows:

+ At the central level: The Vietnam Association of the Elderly settles accounts with the Ministry of Finance in accordance with the State Budget Law.

+ At the provincial, municipal, district, and town level, the financial support for the Vietnam Association of the Elderly is provided through the Fatherland Front. The Fatherland Front is responsible for monitoring and settling accounts with the finance department at the same level.

+ At the commune, ward, and town level: Grassroots elderly associations settle accounts with the Commune, Ward, and Town People's Committees.

This circular takes effect fifteen days after the date of signature. During the implementation period, if there are any difficulties, please report to the Ministry of Finance for review and amendment.