Circular No. 22-TC/TVQT guides the amendment and supplementation of Circular No. 15-TC/TVQT dated February 27, 1996, of the Ministry of Finance regarding the financial management regime for the State Treasury system.

CIRCULAR

CIRCULAR NO. 123/1998/TT-BTC OF SEPTEMBER 4, 1998 OF THE MINISTRY OF FINANCE GUIDING THE USE OF DESIGNATED FUNDS, LIVING SUPPORT EXPENSES, AND REWARDS IN THE STATE TREASURY SYSTEM

Pursuant to Circular No. 141/TB-VPCP dated August 15, 1998 of the Government Office regarding the notification of the conclusions of the Deputy Prime Minister Nguyen Tan Dung at the meeting with the State Treasury on August 1, 1998;
Pursuant to the characteristics of the activities of the State Treasury;
Following Circular No. 15 TC/TVQT dated February 27, 1996 of the Ministry of Finance on financial management regulations for the State Treasury system, and Circular No. 22 TC/TVQT dated May 8, 1997 guiding amendments and supplements to Circular No. 15 TC/TVQT dated February 27, 1996 of the Ministry of Finance;
The Ministry of Finance guides the use of funds designated for the State Treasury according to the provisions due to the implementation of state programs (referred to as designated funds); additional living support expenses and reward funds from the difference between income and expenditure arising during the process of transaction settlement activities of the State Treasury system as follows:

I. DESIGNATED FUNDS:

1. Designated funds of the State Treasury system include:

1.1. Designated funds from the issuance of government bonds as stipulated in Circular No. 75 TC/KBNN dated September 14, 1994 of the Ministry of Finance.

1.2. Operational management funds for Program 327 and the 5 million hectare forest program.

1.3. Interest on loans for job creation (Program 120), the portion retained by the State Treasury as stipulated in Decision No. 950 TC/HCSN dated October 19, 1996 of the Minister of Finance.

1.4. Fees for traffic violation penalties as stipulated in Circular No. 09 TC/CSTC dated February 2, 1996 of the Ministry of Finance.

1.5. Other types of designated funds as prescribed.

2. The designated funds shall be used for the following purposes:

2.1. To allocate 60% for operational expenses: Including expenses serving operational activities as specified in point 1 above:

- Printing, documents, ledgers, seals.

- Training, publicity, mid-term reviews, final summaries.

- Purchasing equipment, working tools, vault facilities, capital adjustment.

- Construction, repair, rental of transaction sites serving the aforementioned tasks.

- Management work.

- Other business operation expenses.

2.2. Allocate 40% for staff directly and indirectly involved in the aforementioned business activities. The average expenditure shall not exceed 150,000 VND/person/month.

3. Designated funds for each program must be managed and expended in accordance with the purpose of that program, recorded and settled in compliance with relevant regulations suitable for the management requirements of each type of business activity.

II. THE DIFFERENCE BETWEEN INCOME AND EXPENSES ARISING DURING THE IMPLEMENTATION OF TRANSACTION SETTLEMENT OPERATIONS OF THE STATE TREASURY

The use of the difference between income and expenditure arising during the process of transaction settlement activities of the State Treasury shall be carried out in accordance with the provisions set forth in Circular No. 15 TC/TVQT dated February 27, 1996 of the Ministry of Finance on financial management regulations for the State Treasury system and Circular No. 22 TC/TVQT dated May 8, 1997 of the Ministry of Finance guiding amendments and supplements to Circular No. 15 TC/TVQT dated February 27, 1996 of the Ministry of Finance.

Specifically, for the 50% portion (within the 90% allocated for certain special activities of the State Treasury and to supplement some expenditures not fully covered by the state budget), the distribution and use shall be as follows:

- 20% to supplement management costs for business activities: security and safety of treasury funds, counting, preservation, transportation, handling cash, publicity for State Treasury business activities, supplementary funding for scientific research and training of staff, inspection and supervision activities, information technology, and mobile work.

- 20% to provide additional living support for State Treasury staff.

- 10% to establish a reward fund established and distributed by the Central State Treasury.

III. REWARD FUNDS:

1. Reward funds of the State Treasury are established, distributed, and used throughout the State Treasury system from the following sources:

- 10% of the difference between income and expenses arising during the implementation of transaction settlement and payment operations, as established and distributed by the Central State Treasury as mentioned in Part II above.

- Other sources as regulated.

2. All collectives and individuals within and outside the State Treasury system who complete assigned tasks or contribute to enabling the State Treasury to accomplish its tasks shall be considered for rewards in the following forms:

2.1. Regular rewards:

For collectives and individuals within the State Treasury system: Based on the quality of work of the collective or individual and the union's vote or the review of the competition council at various levels.

2.2. Special rewards:

In cases where collectives and individuals within and outside the State Treasury sector have outstanding and exceptional achievements assisting the State Treasury in completing its tasks, based on the existing reward fund and the achievements of those collectives and individuals, the heads of State Treasuries at all levels shall issue decisions on rewards at the following levels:

- The General Director of the State Treasury may issue a decision to award up to 10,000,000 dong (ten million dong) to a collective and up to 2,000,000 dong (two million dong) to an individual.

- The Director of the Provincial State Treasury under the central government shall issue a decision to award a maximum of 5,000,000 VND (five million VND) to a collective, and a maximum of 1,000,000 VND (one million VND) to an individual.

- The Director of the State Treasury in districts and towns may issue a decision to award up to 1,000,000 dong (one million dong) to a collective and up to 300,000 dong (three hundred thousand dong) to an individual.

Each collective or individual shall not be eligible for more than two special awards in a year, except in special cases which require the approval in writing from a higher-level State Treasury.

3. Reward funds in the State Treasury system must be managed, recorded, and reported in accordance with current regulations.

This Circular takes effect from January 1, 1998. The General Director of the State Treasury is tasked with providing detailed guidance on the use of designated funds, additional living support levels, reward levels, organizing inspections of the implementation of current regulations and the provisions of this Circular throughout the State Treasury system.