Circular No. 19/2005/TT-BTC guides the financial disclosure for funds sourced from the state budget and funds sourced from contributions from the people.

1. This Circular stipulates the financial transparency of funds with sources from the state budget; funds formed from contributions from the people and other individuals and organizations established in accordance with the law.

The financial transparency of national reserve funds does not fall within the scope of this Circular.

2. Principles of financial transparency:

- Ensuring the provision of complete and accurate financial information that must be disclosed, appropriate to each recipient of the information;

- The provision must ensure the content, deadlines, and methods prescribed in this Circular.

The Chairman of the Management Board or General Director (Director), or the person responsible for managing the fund, account holder shall be responsible for the accuracy of the financial information disclosed according to their authority.

1.1. Subjects of financial transparency

a) Funds where the state budget fully provides the charter capital, partially provides the charter capital, or annually supports operating expenses to fulfill assigned tasks.

b) Funds formed and used according to the objectives of the State.

c) Compulsory insurance funds (Social Insurance, Health Insurance).

d) Other funds with sources from the state budget.

1.2. Content of financial transparency

a) Documents on the Charter and operation procedures; financial regulations; conditions, standards, rights, and obligations of borrowers or sponsors.

b) Annual financial plans, including detailed revenue and expenditure items related to the state budget.

c) Fund activity results and sponsorships (including loans and non-recoverable grants).

d) Annual financial settlement approved by the competent authority.

1.3. Authority for financial transparency

The Chairman of the Management Board or General Director (Director) of the fund is responsible for organizing financial transparency in accordance with this Circular.

1.4. Forms and timing of disclosure

a) Disclosure of the contents specified in Point 1.2 above shall be carried out through the following forms:

- Issuing fund publications (annual reports, printed materials);

- Posting by notice at the main office of the fund and its subordinate units;

- Announcing in staff meetings of the fund.

b) Timing of disclosure:

- For the contents specified in Subpoint a, Point 1.2 of this section, the latest time for disclosure is 30 days from the date of issuance or amendment of the document (if applicable).

- For the contents specified in Subpoint b, Point 1.2 of this section, the latest time for disclosure is 30 days from the date the annual financial plan is approved by the competent authority.

- For the contents specified in Subpoints c and d, Point 1.2 of this section, the latest time for disclosure is 120 days from the end of the calendar year.

2.1. Subjects of financial transparency are funds with sources raised from contributions from the people, individuals, and other organizations established in accordance with the law.

2.2. Content of financial transparency

a) Operational regulations of the fund, conditions, standards, rights, and obligations of contributors and beneficiaries from the fund;

b) Purpose of raising and using fund revenues;

c) Raising targets, methods, and amounts for each target. For funds with mandatory contribution revenues, also disclose exempted targets along with specific exemption levels for each target;

d) Public announcement of fundraising results (including lists of contributors, sponsors, contribution and sponsorship methods and amounts for each contributor);

e) Annual settlement of the fund according to each approved revenue-expenditure item. Apply Form CKQ 01 for funds not aimed at infrastructure construction projects and Form CKQ 02 for funds aimed at infrastructure construction projects.

2.3 Authority for financial transparency

The Director or the person responsible for managing the fund (Head of Management Board, account holder) shall announce the contents specified in Subpoint 2.2 of this section.

2.4. Forms and timing of disclosure

a) Disclosure of the contents specified in Point 2.2 above shall be carried out through the following forms:

- Public posting at the fund's headquarters;

- Announcing publicly in direct meetings with contributing and sponsoring organizations and individuals.

b) Timing of disclosure:

- Announcing publicly the contents specified in Subpoint a, b of Point 2.2 of this section before fundraising and soliciting donations from organizations and individuals.

- Announcing publicly the contents specified in Subpoint c of Point 2.2 of this section at least 30 days before implementation.

- Disclosing the contents specified in Subpoints d and e of Point 2.2 of this section no later than March 31 of the following year.

In addition to the transparency contents prescribed in Section 2, Part II of this Circular, funds using contributions from the people to build infrastructure projects in communes and towns must also implement public announcements in accordance with the following provisions:

3.1. Contents of transparency

a) The budget for the construction project has been approved by the competent authority, detailing the sources of investment capital for the project, including specifically the mobilized contributions from the people, covering the entire project and must be separately listed for each sub-project (if applicable) (Form CKQ 03 attached as an appendix);

b) Results of mobilization (including a list of contributors and sponsors; time, form, and amount of contributions and sponsorships from each contributor);

c) Publicize the bidding results for construction projects (sub-projects) organized through the current bidding regulations through the following contents:

- Bidding method, bidding form; division of tender packages (if any); required standards of contractors; list of the Bid Evaluation Committee;

- List of contractors participating in the bidding; list of contractors meeting the bidding requirements; selection criteria for each round of bidding;

- Selection results: contractors participating in the final round, evaluation of the contractors' ability to meet the selection criteria, winning contractor (Form CKQ 04 attached as an appendix);

d) Report on construction progress and acceptance results of quantity and quality of the project;

e) Final account report on capital and usage of capital for the project that has been approved and measures to handle unused revenue or insufficient capital compared to the invested cost of the project (Form CKQ 05 attached as an appendix);

3.2. Authority to Publicize

a) The Head of the Management Board (or account holder) of the fund shall publicly disclose the contents specified in items a, b, d, and e of point 3.1 of this section;

b) The Chairman of the Bid Evaluation Committee shall publicly disclose the contents specified in item c of point 3.1 of this section;

3.3. Form and Time of Publicizing

a) Form of Publicizing

- Publicly post at the People's Committee office of the commune, town;

- Announce publicly in direct meetings with the people of the commune, town;

b) Timing of disclosure:

- Publicize the contents specified in item a of point 3.1 of this section at least 30 days before implementation;

- The contents specified in items b, d, and e of point 3.1 of this section must be publicized annually, no later than March 31 of the following year;

- For bidding on construction projects:

+/ Publicize the contents specified in the first bullet point of item c of point 3.1 of this section at least 15 days before the bid opening date;

+/ Publicize the contents specified in the second bullet point of item c of point 3.1 of this section two days after completing the contractor selection process;

+/ Publicize the contents specified in the third bullet point of item c of point 3.1 of this section no later than 15 days from the date of the selection result;

1. The Management Council or General Director (Director) of the fund with sources from the State budget shall report to the agency issuing the establishment decision and the financial agency at the same level with the financial information and materials that have been publicly disclosed;

2. The person responsible for managing the fund with sources from people's contributions shall report to the financial agency of the approving authority the financial information and materials that have been publicly disclosed;

3. Ministries, agencies equivalent to ministries, government-affiliated agencies, Vietnam Fatherland Front, People's Committees at all levels, political-social organizations, and mass organizations within agencies and units, and the people shall inspect the financial disclosure of funds;

1. The Chairman of the Management Council or General Director (Director); the person responsible for managing the fund; the Chairman of the People's Committee of communes, towns organizing the mobilization of people's contributions for infrastructure construction projects; the Chairman of the Bid Evaluation Committee shall be responsible for answering questions about the disclosed contents as stipulated in this Circular. The answers to questions must be provided in writing and sent to the questioner;

2. The deadline for answering questions is no later than 10 days from the date of receiving the question. In cases where the question is complex, a notice of appointment must be issued and the answer must be provided no later than 45 days from the date of receiving the question;

3. The contents of the questions and answers must be disclosed together with other disclosed financial contents to the recipients of the disclosed information as follows:

- For funds with origins from the state budget, publicly announce in the staff, workers, and officials meeting of the fund and post at the fund's office;

- For funds with revenues from people's contributions, publicly announce at the fund's meetings with contributing and sponsoring organizations and individuals and post at the fund's office;

- For funds using people's contributions to build infrastructure projects in communes and towns, publicly announce at the people's meetings in the commune regarding the mobilization of contributions for the construction of such infrastructure projects (if any) and post at the People's Committee office of the commune, town;

1. This Circular takes effect 15 days after its publication in the Official Gazette. The Circular No. 29/1999/TT-BTC dated March 18, 1999, of the Ministry of Finance guiding the financial disclosure for funds with revenues from people's contributions is hereby repealed;

2. Ministers, Heads of agencies equivalent to ministries, government-affiliated agencies, Chairmen of People's Committees at all levels, Chairmen of Management Councils, General Directors (Directors) of funds, and Heads of related units are responsible for implementing this Decision./.