Decision No. 32/2008/QD-BTC on the issuance of the Management and Depreciation System for Fixed Assets in State Agencies, Publicly Funded Organizations, and Organizations Using State Budget.

Pursuant to …;

On the issuance of management regulations and depreciation calculation for fixed assets in state agencies, public service units, and organizations using state budget

state administrative agencies, public service units, and organizations using state budget funds

THE MINISTER OF FINANCE

Pursuant to the State Budget Law number 01/2002/QH11 dated December 16, 2002;

Pursuant to Decree No. 178/2007/NĐ-CP dated December 3, 2007 of the Government stipulating the functions, tasks, powers, and organizational structure of ministries and ministerial-level agencies;

Pursuant to Decree No. 77/2003/NĐ-CP dated July 1, 2003 of the Government stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance.

To strictly manage and enhance the efficiency of asset utilization by state agencies, public service units, and organizations using the state budget.

At the proposal of the Director of the State Asset Management Department.

Pursuant to …;

Article 1. Attached herewith is the "Management Regulations and Depreciation Calculation for Fixed Assets in State Agencies, Public Service Units, and Organizations Using the State Budget".

Article 2. This Decision takes effect 15 days from the date of publication in the Official Gazette and shall be implemented from January 1, 2009, replacing Decision No. 351-TC/QĐ/CĐKT dated May 22, 1997 of the Minister of Finance on Management Regulations, Usage, and Depreciation Calculation for Fixed Assets in Administrative and Public Service Units.

The regulations issued pursuant to this Decision apply to all fixed assets. For fixed assets existing before January 1, 2009, units must base their determination of original cost and residual value of fixed assets on accounting records and asset files to establish a new fixed asset inventory according to the new standards, continue to monitor, manage, and utilize these fixed assets based on original cost, residual value, accumulated depreciation as prescribed in these regulations. Fixed assets not meeting the new criteria will be managed and utilized as durable tools and equipment.

Article 3. State agencies, public service units, and organizations using the state budget are responsible for implementing this Decision.

Ministries, ministerial-level agencies, government-affiliated agencies, central-level agencies, People's Committees of provinces and centrally-administered cities are responsible for directing and implementing the Management Regulations and Depreciation Calculation for Fixed Assets in State Agencies, Public Service Units, and Organizations Using the State Budget attached to this Decision within their respective jurisdictions.

Article 4. The Director of the State Asset Management Department, the Director of the Administrative and Public Service Financial Affairs Department, the Director of the State Budget Department, the Director of the Accounting System and Audit Department, and the heads of units under and affiliated with the Ministry within their respective functions and authorities are responsible for organizing the implementation, providing guidance, and supervising the enforcement of this Decision./