Decision No. 225/1998/QĐ-TTg promulgates the Financial Disclosure Regulations for state budgets at all levels, budgetary units, state-owned enterprises, and funds with revenues from contributions by citizens.

Pursuant to …;

OF THE PRIME MINISTER

Regarding the issuance of the Financial Disclosure Regulation for state budgets at all levels,

budgetary units, state-owned enterprises,

and funds with revenues from contributions from the people,

 

PRIME MINISTER

Pursuant to the Government Organization Law dated September 30, 1992;

Pursuant to the Law on Thrift and Prevention of Waste dated February 26, 1998;

To facilitate the inspection and supervision by agencies, organizations, social groups, and the people in managing and using state capital, assets, and people's contributions, to ensure fairness in income distribution, contribute to implementing thrift policies and combating waste, detect and promptly prevent violations of financial management systems, and provide conditions for accurately evaluating the financial performance of organizations and agencies;

At the proposal of the Minister of Finance,

 

DECISION:

Article 1. The Financial Disclosure Regulation for state budgets at all levels, budgetary units, state-owned enterprises, and funds with revenues from contributions from the people is hereby promulgated along with this Decision.

Article 2. This Decision shall take effect fifteen days from the date of signature.

Article 3. The Minister of Finance shall be responsible for guiding the implementation of this Decision.

Ministers, Heads of ministerial-level agencies, Heads of government-affiliated agencies, Chairpersons of People's Councils, Chairpersons of People's Committees at all levels, Heads of budgetary units, Chairpersons of Management Boards, General Directors, Directors of state-owned enterprises, Account Holders, and Managers of funds with revenues from contributions from the people shall be responsible for organizing the implementation and guiding subordinate units to comply with this Decision.

  

 

FINANCIAL DISCLOSURE REGULATIONS

REGARDING STATE BUDGETS AT ALL LEVELS, BUDGETARY UNITS, STATE-OWNED ENTERPRISES AND FUNDS
WITH REVENUES FROM CONTRIBUTIONS FROM THE PEOPLE.

(Issued together with Decision No. 225/1998/QĐ-TTg dated November 20, 1998)

 

PART I
GENERAL PROVISIONS

Article 1Purpose of financial disclosure

Financial disclosure is a measure aimed at promoting the right of self-management of state officials, employees, labor collectives, and the people in exercising their rights to inspect and supervise the process of managing and using state capital and assets; collecting, managing, and utilizing people's contributions according to the law, ensuring effective implementation of the Law on Thrift and Combating Waste.

Article 2. Principles of financial disclosure

Financial disclosure must ensure the provision of complete, accurate, and timely financial information suitable for each recipient through forms prescribed in this Regulation.

The submission of final reports and financial statements of budgetary units, state-owned enterprises, and funds shall be carried out in accordance with current regulations on financial reporting and accounting.

Article 3. Objectives and scope of application of financial disclosure

1. State budgets at all levels, budgetary units, state-owned enterprises, and funds established according to the provisions of the law and having revenues from contributions from the people must implement financial disclosure in accordance with the provisions of this Regulation.

2. For units under the armed forces, Party organizations, and units entrusted with managing national strategic reserves, financial disclosure shall be implemented as follows:

a) Regular revenue and expenditure items of the agency or organization must be disclosed internally according to the provisions of this Regulation.

b) The following information shall not be disclosed:

Data on specialized assets serving national defense and security; budget estimates, allocations, and final accounts for expenditures from the state budget for national defense and security.

Data on national financial reserves and expenditures for purchasing national strategic reserve items.

Article 4. Forms of financial disclosure

Depending on the content and nature of each type of information and the recipient, financial disclosure may be conducted through the following methods:

1. Directly reporting during annual meetings of the agency or organization;

3. Publicizing on the electronic information website of the Ministry of Finance.

3. Publicly posting at the workplace of the agency or organization;

4. Notifying by written notice.

 

Chapter II
DISCLOSURE OF STATE BUDGET

Article 5. Disclose the data on the state budget estimates and final accounts approved by the National Assembly and disclose the data on the estimates and final accounts of central agencies and provincial-level cities approved and confirmed.

The Minister of Finance shall publicly disclose the following contents:

1. The total annual state budget estimates and final accounts and the sources of deficit financing approved and confirmed by the National Assembly. In detail, disclose major spending areas including investment development, education and training, health care, culture, sports, and national target programs.

The disclosure of the above information shall be carried out through the publication of printed materials.

2. The total annual state budget estimates for ministries and central agencies approved by the Prime Minister and the total final accounts of these units reviewed by the Ministry of Finance, excluding information that is not allowed to be disclosed according to current regulations.

The disclosure of the above information shall be carried out through the publication of printed materials and notifying in writing to ministries and central agencies.

3. The total annual state budget estimates and final accounts for provincial-level cities approved by the Prime Minister; the ratio of revenue allocation, supplementary funds from the central budget, and delegated funds from the central budget (if any).

The disclosure of the above information shall be carried out through the publication of printed materials and notifying in writing to provincial-level cities.

Article 6. Disclosure of local government budgets.

Chairpersons of People's Committees at all levels shall publicly disclose the following contents:

1. The total annual local budget estimates and final accounts approved and confirmed by the same-level People's Council. Local budget spending estimates are detailed in major areas including investment development, education and training, healthcare, culture, and sports.

The disclosure of the above information shall be carried out through the publication of printed materials and directly reporting during annual meetings of the People's Council at all levels.

Specifically, for the budget estimate, the final report on revenue and expenditure of the commune, ward, town's state budget that has been decided and approved by the People's Council, the Chairman of the Commune, Ward, Town People's Committee must publicly announce in detail to each field of revenue and expenditure of the state budget; the additional amount from the higher-level state budget (if any) to all residents in the area through forms such as: posting publicly at the office of the Commune, Ward, Town People's Committee and during the annual sessions of the Commune, Ward, Town People's Council.

2. The total budget estimate, final report on revenue and expenditure of the state budget of agencies and units under their own People's Committee have been assigned, reviewed.

The public disclosure of the above information shall be carried out in the form of written notification to relevant agencies and units.

3. The total budget estimate of revenue and expenditure, the ratio of distribution of various sources of revenue, the additional amount, the total of authorized funds (if any) of subordinate administrative levels have been assigned, approved.

Public disclosure shall be implemented in the form of written notification to the People's Committees of all subordinate levels.

Article 7. Time of public disclosure of the state budget

After being assigned and decided by the competent authority for the budget estimate and reviewed and approved for the final report, the contents stipulated in Article 5 and Article 6 of this Regulation must be disclosed no later than:

60 days for the form of public disclosure through publication of printed materials,

30 days for the form of written notification,

15 days for the form of public posting,

Immediately during the period of the session for the form of public reporting during the session of the People's Councils at all levels.

 

Chapter III
PUBLIC DISCLOSURE OF FINANCIAL INFORMATION FOR BUDGET ESTIMATE UNITS
STATE BUDGET

Article 8. Public disclosure of the allocation and use of state budget funds for budget estimate units of the state budget.

1. Heads of budget estimate units directly using state budget funds must publicly disclose within their unit about the annual budget estimate and final report of the unit which have been assigned, reviewed. The content of disclosing budget estimate and final report figures of state budget funds must be detailed to each item of revenue and expenditure according to the current State Budget Item List.

2. Heads of upper-level budget estimate units must notify subordinate budget estimate units about the following contents:

a) The total budget estimate and final report of annual revenue and expenditure of the state budget, including the part of the adjusted budget estimate reduced or supplemented during the year (if any), which have been assigned and reviewed by the competent authority for the unit. Among them, details of some expenditure items include: salary expenses; travel expenses; conference fees; expenses for purchasing equipment and working tools; expenses for repairing and improving premises; expenses for basic construction investment.

b) The total budget estimate, including the part of the adjusted budget estimate reduced or supplemented during the year (if any) and the total final report of annual revenue and expenditure of subordinate budget estimate units which have been assigned and reviewed. Among them, details of some expenditure items include: salary expenses; travel expenses; conference fees; expenses for purchasing equipment and working tools; expenses for repairing and improving premises; expenses for basic construction investment.

3. The public disclosure of the contents prescribed in paragraphs 1 and 2 of this Article shall be carried out in the following forms: publishing printed materials, notifying in writing to subordinate budget estimate units, posting at the unit, announcing in staff meetings of the unit.

4. After being assigned and reviewed by the competent authority for the budget estimate, final report or the adjusted and supplemented budget funds, the contents prescribed in paragraphs 1, 2, and 3 of this Article must be disclosed no later than:

60 days for the form of public disclosure through publication of printed materials,

30 days for the form of written notification,

15 days for the form of public posting,

5 days for the form of public reporting during the session of the unit.

Article 9. Public disclosure of the collection and use of contributions from organizations and individuals.

Annually, heads of budget estimate units with revenue from contributions of organizations and individuals must disclose to contributors the purpose of raising funds, contribution levels, and the use of raised funds.

The public disclosure of the above information shall be carried out in the following forms: posting at the agency's office, convening meetings with organizations and people participating in contributions to make direct announcements.

 

Chapter IV
PUBLIC DISCLOSURE OF FINANCIAL INFORMATION FOR STATE ENTERPRISES

Article 10. Contents of financial disclosure

The Chairman of the Board of Directors or General Director, Director of state enterprises (for enterprises without a Board of Directors) must publicly disclose the following contents:

1. The situation of capital, assets, and finance of the enterprise;

2. The results of business operations of the enterprise;

3. The establishment and use of funds in the enterprise;

4. Income and average income of employees.

Article 11. Forms and time of financial disclosure for state enterprises

The public disclosure of the contents prescribed in Article 10 shall be carried out in the following forms: publishing printed materials, posting at the enterprise, announcing in staff meetings of the enterprise.

The time of financial disclosure shall be carried out regularly quarterly and annually. The latest time for financial disclosure, starting from the last day of the quarter or year, is:

60 days for the form of public disclosure through publication of printed materials,

30 days for the form of public posting,

15 days for the form of public reporting during the session of the enterprise.

 

Chapter V
PUBLIC DISCLOSURE OF FINANCIAL INFORMATION FOR FUNDS WITH REVENUE FROM CONTRIBUTIONS

FROM THE PEOPLE

Article 12. Contents and forms of financial disclosure for funds with revenue from contributions from the people

Account holders or Fund Management Board leaders must publicly disclose the following contents:

1. Purpose of operation and use of fund revenues;

2. Target groups and methods of fundraising;

3. Contribution levels;

4. Operation regulations of the fund, conditions, standards, rights, and obligations of beneficiaries;

5. Results of fund use for purposes in the period;

6. Annual final report, final report by each expenditure item (if any), and financial results report of the fund.

Article 13. Contents of financial disclosure for funds using contributions from the people to build infrastructure projects in communes and towns:

In addition to the contents required to be disclosed as stipulated in Article 12 of this Regulation, for each construction project of infrastructure using contributions from the people, the funds must also disclose the following contents:

1. The total budget estimate for each project according to the approved investment plan;

2. Sources of investment capital for the project, including specifically the capital raised from contributions of the people;

3. Levels of mobilization for each specific category (aggregated for the whole year and must be separately specified for each project), and the time frame for mobilization;

4. For construction projects that are organized through bidding in accordance with the current Bidding Regulations, the results of the bidding must be disclosed, such as: number of participants in the bidding, bid prices, winning organization or individual, winning bid price;

5. Results of quantity acceptance, quality inspection of the project, and final settlement of the project;

Article 14. Forms and timing of financial disclosure of funds with revenue from contributions of the people;

a) Financial disclosure as prescribed in Articles 12 and 13 of this Regulation shall be carried out through the following forms: publicly posting at the fund's headquarters, announcing during direct meetings with contributors to the fund;

b) Timing of disclosure:

The policy and purpose of establishing the fund must be disclosed when soliciting contributions and sponsorships from organizations and individuals;

Contents of disclosure that are of a planning nature, levels of mobilization, standards for beneficiaries of the fund, and any changes to these contents (if any) must be disclosed at least 15 days before implementation;

Contents of disclosure regarding the implementation process and results of fund usage must be disclosed annually, no later than February 15 of the following year;

For funds that use revenue from contributions of the people to invest in infrastructure construction projects, in addition to annual disclosure, detailed settlement of each project down to sub-items must be disclosed no later than 15 days from the date of approval of the project settlement;

Article 15. Responses to inquiries;

1. Organizations and individuals within the scope of receiving information on financial disclosure as prescribed in this Regulation have the right to inquire about the units or organizations that disclose financial information regarding the disclosed contents;

2. Persons responsible for implementing financial disclosure as prescribed in this Regulation must respond to inquiries regarding the disclosed financial contents;

3. Inquiries must be answered to the inquirer no later than five days from the date of receipt of the inquiry content. In cases where the inquiry content is complex and requires more time to prepare the response, a specific response date must be rescheduled for the inquirer but not exceeding twenty days from the date of receipt of the inquiry content;

4. The content of inquiries and responses to inquiries must be disclosed together with other disclosed financial contents to those who receive public information at the times and through the forms of disclosure as prescribed in this Regulation./.