JOINT CIRCULAR No. 16/TT-LB On closing the state budget revenue and expenditure accounts for the year 1976.

JOINT CIRCULAR

REGARDING THE CLOSURE OF THE NATIONAL TREASURY ACCOUNTS FOR THE END OF 1976.

The State Budget for 1976 was the first budget in the five-year plan from 1976 to 1980 and was the first unified budget throughout the entire Socialist Republic of Vietnam under temporary conditions where two different currencies were still circulating between the two regions. The organizational structure implementing the budget had developed but was not yet fully established; alongside units with many years of experience managing the budget, there were also a large number of units and localities implementing it for the first time, thus inevitably encountering certain difficulties.

With these characteristics, in response to the requirement of organizing the implementation of the State Budget for 1976 to exceed revenue and expenditure targets, the task of closing the books on the State Budget at year-end requires thorough guidance and meticulous organization nationwide; to contribute to successfully concluding the State Budget for 1976, the Ministry of Finance and the State Bank jointly stipulate the procedures and measures for closing the books on revenue and expenditure at year-end nationwide as follows:

I. MEANING, EFFECT AND SCOPE OF APPLICATION.

Closing the books on revenue and expenditure of the State Budget at year-end is a financial system and technique, not merely an administrative procedure, but also has a positive impact on completing the revenue and expenditure tasks of the State Budget, promoting production, and improving management. All Ministries, sectors, agencies, enterprises, and other state organizations must, through the process of closing the books, verify their own sources of funds and budgets, review the extent to which they have fulfilled the revenue and expenditure obligations assigned by the state, and take proactive measures to complete and exceed these obligations in the final months of the year.

Performing the task of closing the books on revenue and expenditure well creates conditions for agencies and units to accurately settle the amount of revenue and expenditure of the State Budget, truthfully reflect the effectiveness of their capital, and improve the quality of management in 1977.

The work of closing the State budget revenue and expenditure accounts for 1976, although implemented at all domestic branches of the State Bank and the Vietnam Foreign Trade Bank, all sectors, levels, agencies, enterprises, and budgetary units must fulfill all tasks before the State Bank closes its books: Ensure all revenues of the State Budget for 1976 are deposited into the bank before the time of closing the books; organize and implement necessary expenditures before the end of 1976 without "emptying out" or "rushing funds"; close the books on revenue and expenditure at one's own agency, enterprise, or unit matching the figures and timing with the State Bank branch.

II. PREPARATORY WORK BEFORE THE STATE BANK CLOSES THE BOOKS AT THE END OF THE YEAR.

A. Collection and Payment of State Budget Revenues.

All sectors, levels, agencies, and units must ensure their obligation to pay revenues to the State Budget. Therefore, before the State Bank at various levels closes the books on the State Budget for 1976, units, agencies, and enterprises must actively prepare to fully implement the following specific tasks:

1. All revenues belonging to the State Budget for 1976, including excess profits of state-owned enterprises and joint public-private enterprises, must be deposited in full by the latest on December 31, 1976. If deposited after that date, it will be considered paid for 1977 and will not be counted towards the accumulation of payments to the state for 1976 when reviewing the completion of the 1976 plan.

From the beginning of the fourth quarter and no later than the start of December 1976, all Ministries and sectors must proactively calculate and assign specific revenue collection tasks to each enterprise and subordinate unit, take measures to monitor and inspect to complete and exceed the revenue collection tasks for the state in 1976. When assigning tasks to lower-level units located in a particular area, it is necessary to inform the finance and state bank agencies in that area to coordinate and urge implementation.

Each revenue collection unit must review the amounts already paid into the State budget for 1976 and promptly pay any remaining amounts, including any excess profits, ensuring payment into the budget by December 31, 1976.

It is essential to avoid situations where overpayment occurs due to insufficient calculation. In cases where intentional overpayment is made to be recognized as completing the plan and then requesting adjustments afterwards, this will be considered a violation of financial discipline.

2. All agencies, enterprises, and units, regardless of sector or locality, that still hold separate or illegal funds must declare them to the finance agency and deposit them entirely into the State Budget for 1976 during this preparation period, regardless of the origin of the funds.

3. Tax collection offices, commercial stores in cities, towns, and market towns - due to the characteristic of collecting tax or sales money after the closing time of the State Bank but still belonging to the 1976 State Budget, the unit must discuss in advance with the State Bank branch in charge of transactions regarding the collection and submission, to organize the receipt of these amounts immediately the next day, while still recording them as part of the 1976 submission.

4. The State Bank branch must allocate personnel, mobilize all available forces, and prepare adequately to ensure rapid collection, full accounting, and timely entry into the State Budget. Particularly in places with many sources of income such as Hanoi, Ho Chi Minh City, and other cities and towns, the State Bank must organize thorough collection. absolutely preventing any 1976 revenue payments from being carried over to the next year. If a unit submits a large amount of cash that cannot be received during regular business hours on December 31, 1976, the State Bank branch, based on the payment slip, records the receipt for 1976, while the cash is organized to be sealed with signatures from both parties (the payer and the receiver), then counted in subsequent days. During the counting process, the State Bank must notify the submitting unit to witness the results.

5. For provisional collections, unanalyzed collections, and collections outside the budget, the State Bank branches must coordinate with the same-level finance agencies and units responsible for these collections to adjust completely into the official items under the State Budget for the year 1976 before the closing time at the end of the year.

By the deadline for closing the books, if any remaining amount has not been adjusted, the Branch of the State Bank in the province or city will coordinate with the Department of Finance to issue adjustment vouchers for the "other revenue" category of the 1976 State Budget.

B. Payment of expenditure from the State Budget.

Year-end expenditure settlement must aim to prevent the situation of "rushing to spend the entire budget allocation" or "rushing funds" at the end of the year, while ensuring timely arrangements for necessary expenditures so that the expenses are implemented and settled in the 1976 State Budget.

To achieve this requirement, the following preparations must be made early:

1. The Financial Department determines the date to suspend the approval of limits, review of budgets, and the State Bank suspends the distribution of limits and transfer of funds for the year 1976:

a/ Suspension period: The deadline for suspending the above activities is determined based on the time required for documents to circulate from the approval authority to the receiving entity to ensure that the allocated limit or funds can still be used in time. Therefore, the further away the unit receiving funds is from the approving authority, the earlier it must prepare to avoid delays. Absolutely, the suspension of approval limits, budget reviews, or fund distribution should not hinder the economic activities and expenditures of administrative and service units.

b/ For the Central Budget:

- The Ministry of Finance will suspend the approval of limits, and the Central State Bank will suspend the distribution of limits and transfer of funds for the State Budget as follows:

+ From 14:00 on December 10, 1976, suspend the issuance of limits for 1976 to the Ministry of Finance's agencies in the South and central units in the South;

+ From 14:00 on December 16, 1976, for units located in Binh Trị Thiên, Nghệ Tĩnh, Ha Tuyen, Son La, Lai Chau;

+ From 14:00 on December 20, 1976, for units located in other provinces in the North (excluding Hanoi);

+ From 14:00 on December 27, 1976, for units located in Hanoi.

- The Ministry of Finance and the Central State Bank's agencies in the South will suspend the approval, distribution, and transfer of limits and funds for the State Budget as follows:

+ From 14:00 on December 16, 1976, for units located in Quang Nam-Da Nang, Nghia Binh, Phu Khanh, Gia Lai, Kon Tum, Dak Lak;

+ From 14:00 on December 20, 1976, for units located in other southern provinces (excluding Ho Chi Minh City);

+ From 14:00 on December 16, 1976, for units located in Ho Chi Minh City.

c/ For Local Budgets: The Departments of Finance and the State Bank branches in cities and provinces shall specify the deadlines for suspending approvals, allocations, and transfers of funds to local budget units to align with the aforementioned deadlines and suit the specific circumstances of the agencies and units within their jurisdictions.

d/ Direct spending units, regardless of whether they belong to the Central Budget or Local Budget, must cease issuing "advance payment checks" at 14:00 on December 24, 1976 to ensure that issued checks have sufficient time to return to the State Bank before December 31, 1976. If it is necessary to issue after this time due to genuine necessity, the unit must negotiate with the State Bank where the limit is deposited to resolve the matter.

2. Settlement of loans, borrowings, advances, and prepayments:

a/ All amounts lent by a higher budget level to a lower budget level must be fully repaid before December 10, 1976. If there are difficulties preventing timely repayment, the borrowing entity must report specifically to the lending entity for prompt resolution before the cessation of fund transfers and expenses mentioned in Article 1 above.

b/ Entities and units that have been temporarily advanced funds by financial authorities must also repay all such advances before December 10, 1976. In cases where legitimate reasons prevent immediate repayment, they must negotiate with the financial authority to request temporary advances for the following year, which will be used to repay the advances made during the current year's settlement, while ensuring consistency in accounting records to align unit accounting, budget accounting, and treasury accounting.

c/ Within budgetary units, on one hand, carefully consider and limit temporary advances in December 1976, while on the other hand, actively settle or recover previously advanced amounts, paying special attention to resolving definitively advances made by Southern management bodies to Northern staff working in the South or vice versa, ensuring that by December 31, 1976, there are no outstanding advances, both in the South and the North. In exceptional cases with valid reasons confirmed by the financial department, these may be carried over to the next year by withdrawing funds from the next year, treating them as new advances for the fiscal year 1977, and using them to repay advances from 1976. For those working in the South or vice versa, ensure that by December 31, 1976, there are no outstanding temporary advance balances, whether in the South or North. In special cases with valid reasons confirmed by the Financial Authority, the balance may be carried over to the next year by withdrawing funds from the next year, treating it as a new advance under the fiscal year 1977, and using it to repay the temporary advance of the year 1976.

3. Currently, there are many deposit accounts at domestic and foreign trade branches of the State Bank belonging to various agencies, enterprises, construction sites, etc. Within each account, the sources of deposits vary, including funds from the State Budget, unremitted budget revenues, undistributed budget allocations, or partially spent budget allocations. At the end of 1976, when closing the budget's income and expenditure, particular emphasis must be placed on settling these deposit accounts.

Currently, at domestic and foreign trade branches of the State Bank, there are many deposit accounts held by various entities, enterprises, construction sites... Within each account, the sources of deposits vary widely, including funds from the budget, unremitted budget revenues, undistributed budget allocations, or partially spent budget allocations. By the end of 1976, when closing the budget revenue and expenditure accounts, particular attention must be paid to settling these deposit accounts.

Submission of excess funds and cancellation of final-year limits. All other deposit accounts of all entities, enterprises, construction sites opened at domestic and foreign trade branches of the State Bank must be settled completely on the principle of thoroughly preventing the occupation and illegal use of budget funds according to the plan specified in the attached appendix.

4. Submit excess funds and cancel the end-of-year limit.

All remaining payments and cash balances in the unit's fund that exceed amounts owed must be fully submitted and returned to the State Budget before the central bank's year-end closing time.

If an entity recovers excess funds from 1976 after that, it must continue to deposit them into the State Bank until March 31, 1977; the State Bank branch will record this in the "extra-budgetary receipts" account and report it in the 1977 accounting year. Starting April 1, 1977, the Finance Department and the State Bank will reconcile the actual receipts in this account and process the transfer to reduce allocations or recover advances for the fiscal year 1976. Any recovery from April 1, 1977 onwards, shall not be considered as surplus funds of the 1976 settlement year but recorded in the "recovery of previous year's expenditures" account under the 1977 budget.

The remaining budget allocation limit of 1976 at the State Bank, upon closure, is automatically canceled: No entity can withdraw it for further spending nor need to go through procedures to return it to a higher level.

5. Prepare funds for the beginning of the year 1977.

All Ministries, sectors, and managing Departments must, in December 1976, be responsible for coordinating with financial authorities and State Bank branches at the same level to arrange funding for 1977 to ensure timely notification of allocation limits or expenditure orders for the first quarter of 1977. ensuring that from the start of the year 1977 To ensure continuous and uninterrupted activities in production, business operations, and their own work, as well as those of subordinate budgetary units, without encountering difficulties or obstacles due to the closure of the national budget revenue and expenditure accounts at the end of the previous year.

III. TIME LIMIT FOR CLOSING THE ACCOUNTS.

The closure of the national budget revenue and expenditure accounts at domestic and foreign trade branches of the State Bank will uniformly take place at the end of the last working day of the year, specifically at 16:00 on December 31, 1976.

IV. WORK TO BE PERFORMED AFTER THE STATE BANK CLOSES THE ACCOUNTS.

1. After closing the budget revenue and expenditure accounts, the State Bank at all levels must ensure the following deadlines for telegrams:

a/ From the State Bank branch at the district, county, and urban area to the State Bank branch at the province or city: within the morning of January 1, 1977.

b/ From provincial and city branches in the North to the Central State Bank, and from southern provincial and city branches to the central bank office in Ho Chi Minh City: within the morning of January 2, 1977.

c/ From the Central State Bank office in Ho Chi Minh City to the State Bank of Vietnam in Hanoi: within the morning of January 3, 1977.

The contents of the telegram include:

- The budget revenue and expenditure figures of the central budget on December 31, 1976 (and any figures from previous days not yet telegraphed if applicable), separately analyzed for 1976 revenues and expenditures and pre-1977 revenues and expenditures; the cash balance of the central budget up to December 31, 1976, separately analyzed for 1976 revenues and expenditures and pre-1977 revenues; the cash balance of the local budget for 1976 and the cash balance of the local budget for 1977.

2. For the remaining balances of deposit accounts of entities and budgetary units transferred to the budget by the State Bank branch, detailed lists of each amount for each entity and unit must be prepared and sent to:

- The Finance Department (for the portion transferred to the local budget);

- The Central State Bank or the central bank office in the south (for the portion transferred to the central budget).

These detailed lists must be attached to the accounting report on the date when the transfer was recorded.

The Southern Central State Bank Office will consolidate detailed figures of amounts transferred from the South into four copies, one retained, one sent to the Southern Ministry of Finance before January 31, 1977, two copies sent to the Central State Bank for retention, and one copy sent to the Ministry of Finance before February 15, 1977, along with detailed lists of amounts transferred from the North.

3. The remaining balances of deposit accounts of units and basic construction sites transferred to the Construction Branch of the provincial and city banks, as well as the remaining balances of deposit accounts of military units and public security armed forces transferred to the account of the Financial Department of the Ministry of Defense or the Logistics Department of the Public Security Armed Forces Command will be summarized, monitored, and processed by the respective management agencies.

4. On the part of the agencies and budgetary units, they must reconcile data with the State Bank where the unit conducts transactionsIncluding both the amount of budget revenue submitted, the allocation limit approved by the Financial Authority or distributed by the superior unit to subordinate units (if any), the amount actually withdrawn, the amount returned to restore the allocation limit, and the remaining allocation limit at the State Bank at the end of the year to be canceled.

Units receiving cash allocation orders, and units managed under the revenue-to-expenditure matching system, must also reconcile the amounts allocated, received, and used.

Data reconciliation is a strict regime that must be strictly enforced to determine accurate figures as the basis for checking the implementation of the state budget from grassroots units to consolidating agencies. Therefore, monthly reconciliations must be conducted, and annual reconciliations must be completed to ensure the accuracy and consistency of budget revenue and expenditure figures: ensuring consistency both in total revenue and expenditure, and in detail according to each type, item, and category of the state budget.

To meet the above requirements, first, the accounting books and reports of each entity and its subordinate units (if any) must be reconciled with the State Bank. If there are discrepancies, they must be traced back carefully, errors identified, and adjustments made according to regulations and reality, while informing relevant agencies to make consistent corrections.

When preparing the final settlement report for 1976, each unit must attach a cumulative reconciliation table for the twelve months of 1976, signed and stamped by the State Bank branch to prove the accuracy and completeness of the 1976 final settlement.

5. The Departments of Finance, as budget management bodies at the provincial level, apart from actively urging local units to implement the system of reconciling figures as mentioned above, must also directly reconcile the consolidated figures on local budgets with the central budget.

Specifically, it must be verified:

- Data on borrowing and repayment to the Central State Budget;

- Revenue from the Central State Budget subsidies to localities including:

+ Concentrated basic construction grants,

+ Budget balancing grants,

+ Emergency grants and other grants (listed separately for each specific item).

For southern provinces and cities, if there are cases where staff members are sent to purchase or receive aid goods in the North and are subsidized with Northern currency by the Ministry of Finance for immediate payment of goods in Hanoi or another northern province, they must verify and reconcile separately, and declare and analyze clearly the amount of Northern currency subsidized, converted to Southern currency to be deducted from the approved subsidy according to the approved budget.

- Total local state budget revenue (after deducting refunds and analyzed by type, item, category, subcategory);

- Total actual disbursements (after deducting reduced disbursements and analyzed by type, item, category, subcategory);

- The local state budget surplus for 1976, analyzed clearly:

+ The portion secured in cash reserves held at the provincial or city State Bank;

+ The portion not guaranteed by reserve funds due to having been allocated to units but those units have not yet settled accounts and also have not returned to the budget (due to raw materials in stock that have not been used and according to accounting regulations, have not been allowed to settle accounts);

- The total amount of local state budget reserves held at the provincial or city State Bank at the end of 1976, analyzed:

+ The portion belonging to the 1976 budget

+ The portion belonging to the 1977 budget, due to advance receipts and expenditures for the following year.

All reconciled figures must be confirmed by the Branch of the State Bank in the province or city, and the Department of Finance must attach them to the General Settlement of Revenue and Expenditure of the Local Budget for 1976, to be submitted to the Ministry of Finance within the prescribed time limit.

As for the Northern currency which the Ministry of Finance has subsidized to southern provinces for payment of goods in the North, the Ministry of Finance (Local Budget Department) will issue specific notifications to the Departments of Finance and Branches of the State Bank in the provinces and cities to send simultaneously to the Ministry of Finance's offices in the South, the Central State Bank, and the Central Bank Office in the South for reconciliation purposes and preparation of the General Settlement of the Local Budget for 1976.

V. IMPLEMENTATION ORGANIZATION.

The system of closing the books on revenue and expenditure of the State Budget for 1976 at all levels of the State Bank (domestic and foreign trade), stipulated in this joint circular of the ministries, needs to be strictly organized and implemented thoroughly, serving positively to complete the State Budget for 1976 and bringing financial accounting activities at all levels and units into a regular pattern.

During implementation, if any points require supplementation or modification, relevant departments, levels, and units should report to the Ministry of Finance and the Central State Bank for review and research to resolve.

Financial agencies, the Central State Bank, and all provinces and cities nationwide are responsible for organizing training, research within their sectors, and disseminating to all units within the scope of implementation as stated in the sections above.

(Attached is an appendix on the plan for settling accounts of deposits at the State Bank).

Place of Receipt:

- Central budget units,

- Financial agencies in the South.

- Foreign Trade State Bank agencies in the South.

- Provincial People's Committees directly under the Central Government.

Throughout the country.

- Financial Departments throughout the country,

- Construction State Bank branches throughout the country,

- State Bank branches in provinces and cities

throughout the country,

- Departments, Bureaus, Institutes, and Vietnam Construction Bank

under the Ministry of Finance,

- Departments, Bureaus, and Vietnam Foreign Trade Bank

under the Central State Bank.

PLAN FOR SETTLING ACCOUNTS OF DEPOSITS

OPEN AT THE STATE BANK DURING

THE CLOSING OF THE STATE BUDGET RECEIPTS AND EXPENDITURES IN 1976

In recent years, to ensure convenient production, business operations, and work, many agencies, units, and economic organizations have been permitted to open deposit accounts. Besides production and business capital and capital allocated from the budget through expenditure orders, other sources of money have also been transferred into these accounts.

The transfer of money into deposit accounts and the use of these amounts, through the annual closing of the budget revenue and expenditure books, have revealed many weaknesses in economic and financial management, leading to unhealthy financial and accounting situations in many places.

To strengthen economic and financial management and contribute to successfully completing the State Budget for 1976, during the final closing of revenue and expenditure books this year, all deposit accounts opened by all agencies, units, and economic organizations at domestic and foreign trade branches of the State Bank must be settled according to the following plan:

a/ Deposits exempted from declaration and approval during the final closing of receipts and expenditures in 1976.

The following deposits do not need to go through declaration and approval procedures and are automatically transferred to 1977 for continued use by the State Bank branch where the account was opened:

- Deposit accounts of production and business capital of units operating under economic accounting systems and units applying supplementary allocation systems (revenue offsetting expenses);

- Deposit accounts of Party organizations at various levels (as these are state subsidies and party fees under the management of the Central Party Office);

- Funds from the 1977 budget that were advanced in late 1976.

- Funds allocated by the budget to some units and agencies for strategic material reserves.

Although not required to go through declaration procedures, approval, and transfer to use in 1977, the agencies and units holding such accounts still need to organize reconciliation and confirmation with the State Bank to ensure their responsibility for managing their own capital resources, guaranteeing the accuracy of such capital, and planning appropriate distribution and use in the coming year.

b/ Declaration and approval of deposit accounts of administrative and public service units and enterprises.

1. Each unit, central or local economic organization with deposit accounts opened at domestic or foreign trade branches of the State Bank must first self-inspect and review the origin of all deposited funds (economic organizations must carefully examine the relationship between these deposit accounts and the "receivables and payables" account details of their own units):

- If there is any budget revenue that has not been remitted, it must prepare a payment receipt form immediately and fully remit it to the State Budget before the State Bank closes the 1976 account settlement;

- Any funds allocated from the State Budget through expenditure orders that have not been disbursed or have been disbursed but still remain surplus, must also be prepared for immediate remittance to the State Budget in 1976 to reduce the allocation expenses;

- If there are any funds occupied from other agencies or units, they must urgently complete the necessary procedures to repay those agencies or units;

- If there are any social insurance fund contributions or surplus funds from labor union subsidy payments that need to be settled with the Ministry of Veterans Affairs or the General Confederation of Labor, they must be settled immediately before the end of the year.

2. By the latest on December 30, the entity, economic organization shall prepare a declaration listing the remaining balances in the aforementioned accounts, clearly analyzing the source of each balance, accompanied by a proposal for handling those balances, cross-referenced and confirmed with the signature of the State Bank where the account was opened, then report to the supervisory agency and financial agency:

+ Central budget entities in Hanoi shall report to the supervising ministry and the Ministry of Finance (Department of Financial Management and Department of State Budget Management);

+ Central budget entities in Ho Chi Minh City shall report to the supervising ministry agency (if any) and the southern Ministry of Finance agency;

+ Central budget units located in all regions, in both the North and South, only report to the Departments of Finance (Budget Planning Division), without needing to report through the main departments or their offices in the South.

+ Local budget entities shall report to the supervising department and the Department of Finance (Financial Management Section and Budget Planning Section).

3. Main departments, their offices in the South, and main departments in charge, upon receiving these reports, are responsible for reviewing if any remaining funds belong to the budget or are occupied by other units, then urge full repayment to the budget or settlement with the relevant agency. For funds that can be reasonably retained, opinions should be noted and transferred to the finance agency for consideration; meanwhile, consolidate to monitor the situation of extra-budgetary deposits of subordinate units and guide management, urge settlement to improve the financial situation of subordinate units and prevent the formation of illegal funds for expenditures outside the budgeted funds.

4. Upon receiving the report, the finance agency will specifically decide on the amounts of budget units to be carried over to 1977, stamp approval according to the model below, and send it to the State Bank branch where the account was opened for processing:

By the end of December 31, If a unit does not prepare a declaration form, or prepares one but lacks the above-mentioned approval stamp from the finance agency, the State Bank branch (domestic and foreign trade) will automatically transfer all remaining balances of deposit accounts into the "other income" category of the budget for the settlement year.Entities bear full responsibility for strictly adhering to the declaration system for deposits when closing the budget books.

c/ Regarding deposit accounts of military units and People's Armed Police units.

Military units and public security armed forces units do not need to submit declaration forms to the finance agency, but only need to request the State Bank branch where transactions were conducted to carry over to 1977 any funds not required to be repaid to the budget.

If any unit requests to retain and transfer to 1977 improperly, i.e., retaining funds that should be remitted to the State Budget, when discovered during inspection, the unit will bear full responsibility.

If a unit does not make a request for transfer, the State Bank branch will process the transfer to the account of the Financial Department of the Ministry of National Defense or the Logistics Department of the Public Security Armed Forces Command (account number and opening location will be announced by the Central State Bank to local banks).

d/ Settlement of deposit accounts of finance departments.

For deposit accounts of finance departments, distinctions must be made:

- The portion of deposits belonging to the finance department itself: treat the finance department like any other budget entity and handle it similarly to the deposit accounts of other budget entities in the locality;

- Part on deposits for funds entrusted with management: The funds for subsidizing food prices, stabilizing market prices, dredging rivers, developing new economic zones... transferred from central ministries and sectors to southern localities for management: Firstly, financial departments need to actively implement assigned tasks, settle accounts promptly with ministries and sectors that have entrusted management. For southern localities, during settlement with the Ministry of Agriculture regarding expenses for developing new economic zones, it is necessary to clearly analyze the amount spent using local budget funds from northern provinces where people had temporarily borrowed for land reclamation, so that the Ministry of Agriculture can timely resolve repayment before the end of 1976.

After settlement, if the assigned work has been completed, any remaining entrusted management funds must be fully returned to the Central State Budget through formal procedures, and a payment receipt must be attached to the settlement report sent to the ministry or agency that entrusted the management.

In cases where remaining balances need to be carried forward to 1977 for use, the finance departments must declare, with confirmation from the State Bank, and submit before December 15, 1976. For provinces and cities in the Northern region, the Ministry of Finance shall examine and approve; for provinces and cities in the Southern region, the Ministry of Finance's agency in the South shall examine and approve.

If the Department of Finance does not prepare a statement, or prepares a statement but it is unclear and If not approved by the Ministry of Finance or its southern branch, the State Bank branch must transfer all remaining balances as of December 31, 1976, of the entrusted management funds back to the Central State Budget.

The State Bank of Vietnam, the Ministry of Finance, and the Central State Budget Agency will record these balances under "previously collected revenue," then analyze and convert them into reduced allocations for the entrusted management funds.

e/ Settlement of deposits of units and construction sites.

Units and construction sites with bank account deposits at county branches of the State Bank (where there are no construction branches or basic construction supply offices), by 14:00 on December 20, 1976, must declare their balances and provide detailed analysis.

- The portion deposited by the unit or construction site itself;

- The portion transferred from the Construction Branch of the province or city, which must be further analyzed into the surplus funds for 1976 and the funds allocated for 1977.

This declaration must be submitted to the provincial finance authority for coordination with the construction bank office to review. If there is a stamp of approval from the financial department, the State Bank will proceed with the transfer to 1977. If no declaration is made or if the declaration lacks an approval stamp, the State Bank will automatically transfer the balance to the construction bank account of the province or city at the time of closing.

The provincial construction bank and the central construction bank must urgently settle with the finance authority the amounts temporarily borrowed in 1976 for unit and site funding. Any surplus that is central budget investment or concentrated basic construction funds provided by the central government to the province or city must be returned to the Central State Budget; if the surplus is local budget investment, it must be returned to the local budget.

Financial departments must cooperate with construction banks to determine the surplus centralized basic construction funds provided by the central government as of December 31, 1976, and assist the construction bank in preparing the payment documentation to return the surplus to the Central State Budget according to prescribed procedures, formats, and categories, specifically as follows:

- The Construction Bank will process the withdrawal from its own account of the surplus centralized basic construction funds to temporarily advance for basic construction.

- Financial departments must process the refund of local budget funds to the Central State Budget (reducing subsidies due to unspent centralized basic construction funds), while the State Bank of the province or city must transfer this amount to the State Bank of Vietnam (Budget Fund Management Department) to record the recovery for the Central State Budget (reducing previous subsidies to the locality).

Financial departments must coordinate with the provincial Planning Committee to calculate specifically the projects that have not fully utilized the allocated funds in the year but still require continued construction in 1977 to ensure the progress of ongoing construction projects.

In the South, where new offices or departments responsible for basic construction funding distribution have been established, these entities shall undertake the responsibilities assigned to the Construction Branches as mentioned above.

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