Circular No. 41/2021/TT-BTC guiding the organization, operation, management, use, accounting, settlement, and financial disclosure of the Vietnam COVID-19 Vaccine Fund

CIRCULAR

Guidelines on the organization, operation, management, use, accounting, settlement, and financial disclosure of the Vietnam COVID-19 Vaccine Fund

Pursuant to the State Budget Law No. 83/2015/QH13 dated June 25, 2015;

Pursuant to the Accounting Law No. 88/2015/QH13 dated November 20, 2015;

Pursuant to Decree No. 87/2017/NĐ-CP dated July 26, 2017, issued by the Government, stipulating the functions, tasks, powers, and organizational structure of the Ministry of Finance;

Pursuant to Resolution No. 53/NQ-CP dated May 26, 2021 of the Government on the establishment of the Vietnam COVID-19 Vaccine Fund;

Implementing Decision No. 779/QĐ-TTg dated May 26, 2021 of the Prime Minister on the establishment of the Vietnam COVID-19 Vaccine Fund;

At the proposal of the Director of the State Budget Department and the Director of the Accounting and Auditing Supervision Department;

The Minister of Finance issues this Circular guiding the organization, operation, management, use, accounting, settlement, and financial disclosure of the Vietnam COVID-19 Vaccine Fund.

PART I

GENERAL PROVISIONS

Article 1. Scope of Regulation

This Circular guides the organization, operation, management, use, accounting, settlement, and financial disclosure of the Vietnam COVID-19 Vaccine Fund established pursuant to Decision No. 779/QĐ-TTg dated May 26, 2021 of the Prime Minister (hereinafter referred to as Decision No. 779/QĐ-TTg).

Article 2. Applicability

1. The Vietnam COVID-19 Vaccine Fund (hereinafter referred to as the Fund).

2. Ministry of Finance, Ministry of Health.

3. Relevant agencies, organizations, and individuals.

Article 3. Principles of Fund Operation

1. The Fund operates without profit-making objectives, uses funds for their intended purposes and in accordance with legal regulations, ensuring transparency, efficiency, economy, and effectiveness.

2. The Fund uses the seal, budget, and administrative apparatus of the State Treasury to perform assigned tasks.

Article 4. Principles of Financial Management of the Fund

1. The Fund implements revenue, expenditure, accounting, settlement, reporting, and financial disclosure of the Fund according to the guidelines set forth in this Circular.

2. The Fund is subject to inspection, audit, and financial oversight by relevant state financial management agencies and the National Audit Office in accordance with the law; supervision by the Vietnam Fatherland Front and the community.

3. The Fund may use idle funds to deposit at commercial banks for the purpose of preserving and developing the Fund's capital, but must ensure safety.

4. After the Fund ceases operations and is dissolved, any remaining balance of the Fund shall be fully transferred to the central government budget to supplement resources for purchasing vaccines under the national expanded immunization program.

Article 5. Determination of Corporate Income Tax Revenue from Donations, Support, and Voluntary Contributions to the Fund

Organizations and enterprises are allowed to deduct expenses when determining corporate income tax revenue from donations, support, and voluntary contributions to the Fund in accordance with Decree No. 44/2021/NĐ-CP dated March 31, 2021 of the Government guiding the implementation of deductible expenses when determining corporate income tax revenue from business support and donations for activities to prevent and control the COVID-19 pandemic and any subsequent amendments or supplements (if any).

Chapter II

SPECIFIC PROVISIONS

Section 1

TASKS, POWERS, AND ORGANIZATIONAL STRUCTURE OF THE FUND

Article 6. Tasks of the Fund

The tasks of the Fund are stipulated in Article 5 of Decision No. 779/QĐ-TTg of the Prime Minister.

Article 7. Powers of the Fund

1. To mobilize and accept donations, support, and voluntary contributions in the form of money, vaccines, and other types of material (excluding medical supplies, reagents, and medical equipment for epidemic prevention) from domestic and foreign organizations and individuals for the Fund.

2. To use the Fund's financial resources to support the purchase, import, research, production, and use of vaccines for preventing COVID-19 for the people in accordance with the approved content by the Prime Minister and the request of the Ministry of Health.

3. To open transaction accounts at the State Treasury Exchange and commercial banks to receive monetary donations, support, and contributions from domestic and foreign organizations and individuals.

By the end of each day, all balances on the Fund's accounts opened at commercial banks before the temporary cessation of payment and receipt of documents (COT time) between the banking system and the State Treasury shall be transferred to the Fund's account opened at the State Treasury Exchange; for donations, support, and contributions that occur on the Fund's account opened at commercial banks after the transfer time, they shall be transferred to the Fund's account opened at the State Treasury Exchange no later than the next working day.

4. To use idle funds in Vietnamese Dong to deposit at commercial banks with a maximum term not exceeding three months in accordance with Clause 18 of this Circular for the purpose of preserving and developing the Fund's capital, but must ensure safety.

5. To perform other rights and obligations as prescribed by law.

Article 8. Organizational Structure of the Fund

The Fund operates under Decision No. 779/QĐ-TTg of the Prime Minister, under the direction of the Minister of Finance through the Fund Management Board.

Article 9. Fund Management Board

1. The Fund Management Board (hereinafter referred to as the Management Board) shall be established by the Minister of Finance, including: Director, Deputy Director, Chief Accountant, and some members who are civil servants of the State Treasury, appointed by the Minister of Finance.

2. The Management Board operates on a part-time basis, ceasing operations and dissolving after the competent authority announces the completion of the vaccination against the COVID-19 pandemic for the people.

3. The Management Board is responsible to the Minister of Finance and to the law for all results of the Fund's activities.

Article 10. Functions and Duties of the Management Board

1. Implement management and utilization of the Fund’s capital according to regulations; develop and implement term deposits at commercial banks for idle capital of the Fund in Vietnamese Dong with the aim of preserving and developing the Fund's capital, but must ensure safety.

2. Implement accounting systems, final accounts, financial reports, and public disclosure of the Fund according to the Accounting Law and guidelines of the Ministry of Finance in this Circular.

Article 11. Director of the Management Board

1. The Director of the Management Board is the account holder of the Fund.

2. The Director of the Management Board has the responsibility to organize and manage the activities of the Management Board; assign tasks to Deputy Directors, Chief Accountants, and other Management Board members in performing their duties and powers; sign reports, final accounts, and financial disclosures of the Fund and documents within the Management Board's authority.

3. The Director of the Management Board is responsible to the Minister of Finance and to the law for assigned tasks.

Article 12. Deputy Director of the Management Board

1. The Deputy Director of the Management Board assists the Director of the Management Board, performing tasks according to the Director's assignment or delegation.

2. The Deputy Director of the Management Board is responsible to the Minister of Finance, to the Director of the Management Board, and to the law for assigned tasks.

Article 13. Chief Accountant of the Management Board

1. The Chief Accountant of the Management Board performs tasks according to the Director's assignment, responsible for accounting work, financial reporting, and final accounts of the Fund according to the law and provisions in this Circular.

2. The Chief Accountant of the Management Board is responsible to the Minister of Finance, to the Director of the Management Board, and to the law for assigned tasks.

Article 14. Members of the Management Board

1. Members of the Management Board perform tasks according to the Director's assignment.

2. Members of the Management Board are responsible to the Minister of Finance, to the Director of the Management Board, and to the law for assigned tasks.

Section 2

FUND FINANCE

Article 15. Revenue Sources of the Fund

1. Revenue sources of the Fund include:

a) Donations, support, and voluntary contributions from organizations and individuals both domestically and internationally to the Fund, including: money (Vietnamese Dong, foreign currency), vaccines, and other material forms;

b) Interest from the Fund's deposits at the State Treasury and commercial banks;

c) Other lawful revenue sources (if any).

2. Responsibility for receiving:

a) Donations, support, and voluntary contributions from organizations and individuals both domestically and internationally to the Fund in the form of money shall be transferred into the Fund's account at the State Treasury Exchange Office and commercial banks;

b) Donations, support, and voluntary contributions from organizations and individuals both domestically and internationally to the Fund in the form of vaccines shall be received and managed by the Ministry of Health for distribution and use according to regulations.

The Ministry of Health is responsible for determining the monetary value of donated vaccines in Vietnamese Dong and preparing periodic reports every ten days according to Model No. 03-BC/QVX attached to this Circular, to reflect in the Fund's income and expenditure.

Determining the monetary value of vaccines is based on invoices and certificates provided by the donor; if there are no invoices or certificates from the donor, it will be determined based on provisional prices to reflect promptly in the Fund's income, and the Ministry of Health is responsible for determining the official price according to the law and reporting to the Fund for adjustment (if there is a discrepancy);

c) Donations, support, and voluntary contributions from organizations and individuals both domestically and internationally to the Fund in other material forms (excluding medical supplies, biological products, and medical equipment supporting epidemic prevention), the Fund shall receive, manage, monitor, and reflect in its income when sold according to regulations.

3. Confirmation of donations, support, and voluntary contributions to the Fund:

In cases where organizations or enterprises require confirmation of donations, support, and voluntary contributions to the Fund, the Fund Management Board is responsible for confirming donations, support, and voluntary contributions in the form of money and other material forms; the Ministry of Health is responsible for confirming donations, support, and voluntary contributions in the form of vaccines.

The confirmation record follows the model prescribed in the Appendix issued together with Decree No. 44/2021/NĐ-CP dated March 31, 2021 of the Government guiding the implementation of deductible expenses when determining corporate income tax for business and organization donations and sponsorships for COVID-19 prevention and control activities.

Article 16. Contents of Expenditure from the Fund

The Fund shall be used to support and finance activities related to purchasing, importing vaccines, researching, producing domestic vaccines, and using vaccines for preventing COVID-19.

Article 17. Authority to Decide on Expenditure from the Fund

1. The Ministry of Health shall take the lead and coordinate with the Ministry of Finance to compile the financial requirements for purchasing, importing vaccines, researching, producing domestic vaccines, and using vaccines for preventing COVID-19, and submit to the Prime Minister for approval to allocate funds from the Fund to finance and support these activities according to regulations.

2. Based on the approved expenditure contents by the Prime Minister, the Ministry of Health shall prepare a request for fund disbursement according to regulations.

The request for fund disbursement includes: the Prime Minister's document approving the expenditure from the Fund; the Ministry of Health's document requesting expenditure from the Fund (specifying the expenditure content; amount; name of the receiving unit, address, account number, bank name).

3. The Ministry of Health shall bear full responsibility under the law and before the Prime Minister for managing and utilizing the allocated funds from the Fund for purchasing, importing vaccines, financing, and supporting research and production of domestic vaccines; managing and utilizing purchased and imported vaccines and vaccines received from sponsors according to regulations.

Article 18. Depositing Funds with Commercial Banks for Temporary Idle Capital of the Fund

1. Before the 25th day of the last month of each quarter, based on the Ministry of Health's report on the next quarter's expenditure plan, the Management Board shall develop a plan to deposit funds with commercial banks for implementation. In cases where the Ministry of Health has not reported on the expenditure plan, the Fund shall temporarily halt new term deposits to ensure liquidity safety.

2. Principles for depositing term funds of the Fund:

a) The Fund shall deposit funds at commercial banks selected by the State Treasury to deposit idle state treasury funds on a term basis;

b) Deposit terms include one month, two months, and three months. Based on the Ministry of Health's expenditure plan from the Fund, the availability of idle capital in the Fund, and market conditions, the Management Board shall proactively adjust the volume of deposits according to the terms as appropriate;

c) Term deposits of the Fund at commercial banks shall be maintained until maturity, except in cases where it is necessary to withdraw prematurely to fulfill the Fund's expenditure tasks according to regulations.

3. Based on the list of commercial banks meeting the conditions to participate in accepting term deposits, the Fund shall enter into framework contracts for term deposits of the Fund with commercial banks. The framework contract must specify the method of transferring funds, principal and interest payments, and agreements on early withdrawal.

4. Process for Depositing Term Funds of the Fund:

a) At least two working days before the date of the tender announcement for accepting term deposits, the Fund shall notify (by paper document or electronic document) each commercial bank eligible to accept term deposits of the Fund about the term deposit.

The notification content includes: estimated volume of term deposits, deposit term, deadline for submitting tenders for term deposits, method of submitting/receiving tender documents;

b) By no later than 14:00 on the deadline for submitting tenders for term deposits, commercial banks shall submit tender documents for term deposits to the Fund (by sealed paper document with stamps or by encrypted electronic document), specifying the amount and corresponding interest rate for each deposit term. Each commercial bank may only offer one interest rate for each deposit term.

The time of receipt of paper documents is determined based on the time recorded in the delivery logbook signed by both parties; the time of receipt of electronic documents is determined based on the system record of the information technology system used by the Fund indicating receipt of the document.

c) By no later than fifteen (15) minutes after the deadline for submitting tenders for term deposits, the Fund shall open the tenders. Based on the tender information from each commercial bank, the Fund shall determine the volume of deposits and corresponding interest rates for each deposit term for each commercial bank;

d) Within one working day from the date of opening the tender for term deposits, the Fund shall notify the results to each commercial bank; simultaneously, attach a draft appendix of the term deposit contract for the selected commercial banks. The appendix contract includes clauses: amount of term deposit, deposit term, deposit interest rate, deposit date, maturity date, other additional clauses (if any).

The selected commercial bank shall agree with the Fund on the terms of the appendix contract (except for the amount of deposit, term, and deposit interest rate), wherein the deposit date shall not exceed two working days from the date the Fund notifies the selection result of the commercial bank for deposit.

On the basis of the agreed appendix contract content, the Fund and the selected commercial bank shall sign the appendix contract for term deposits of the Fund and implement according to the appendix contract;

5. Method for Determining Interest Rates and Volumes of Term Deposits of the Fund:

a) The interest rate applied to each commercial bank is the bid interest rate of that bank, selected in descending order of bid interest rates satisfying the condition: not lower than the minimum interest rate for term deposits of state treasury funds prescribed by the Ministry of Finance; the cumulative volume of deposits up to the selected interest rates shall not exceed the announced volume of deposits from the Fund;

b) The volume of deposits at each commercial bank corresponds to the volume of accepted deposits registered at the selected interest rate.

In case the cumulative volume of accepted deposits registered up to the lowest selected interest rate exceeds the announced volume of deposits from the Fund, after deducting the volume of deposits registered at higher interest rates, the remaining volume of the announced deposits from the Fund shall be allocated to commercial banks bidding at the lowest selected interest rate in proportion to the volume of deposits registered at the lowest selected interest rate; the allocated deposit volume for commercial banks shall be rounded down to the nearest billion VND.

Section 3
ACCOUNTING, SETTLEMENT, REPORTING AND DISCLOSURE OF FUNDS FINANCIAL ACCOUNTS

Article 19. Accounting vouchers

The Fund shall use debit and credit notes or bank statements from banks and treasuries, and establish other related accounting vouchers in accordance with the Accounting Law and relevant documents.

For accounting entries regarding income and expenditure of vaccine values provided through funding, the Fund's accountants shall base on the report of the Ministry of Health as stipulated in point b, Clause 2 of Article 15 of this Circular to record income and expenditure.

Article 20. Accounting accounts

1. List of accounting accounts applicable to the Fund:

2. Content and structure of accounting accounts:

a) Account 112 - Bank deposits, Treasury:

- Purpose: This account is used to reflect the current balance and changes in non-interest-bearing and interest-bearing deposits at banks and treasuries of the Fund.

- Accounting principles:

+ Accountants must maintain detailed records separately for interest-bearing and non-interest-bearing deposits at banks, detailed by each type of currency (Vietnamese Dong, foreign currencies); detailed deposit amounts by each account at banks and treasuries to facilitate verification and reconciliation.

+ The basis for recording on Account 112 - "Deposits" is debit and credit notes or bank statements accompanied by original supporting documents.

+ When receiving bank or treasury documents, accountants must verify and reconcile them with the original supporting documents.

If there is a discrepancy between the figures on the Fund's accounting books, the figures on the original supporting documents, and the figures on the bank or treasury documents, the Fund must notify the bank or treasury for joint verification and prompt resolution. At month-end, if the cause of the discrepancy has not been determined, the accountant will record the books based on the figures on the debit and credit notes or bank statements. In the following month, continue to verify and reconcile to determine the cause and adjust the recorded figures.

+ When there are receipts and payments in foreign currency, accountants must track the original currency while converting foreign currency to Vietnamese Dong according to the accounting exchange rate of the Ministry of Finance at the time of occurrence.

+ Non-interest-bearing deposits of the Fund opened at banks must be settled and transferred to the Fund's deposit account at the State Treasury Exchange Office at the end of the day as prescribed.

+ At the time of preparing financial reports, the Fund must revalue foreign currency balances according to the accounting exchange rate of the Ministry of Finance.

- Structure and content reflected:

Debit Side:

+ Receipts of Vietnamese Dong and foreign currencies into the Fund's accounts at banks and treasuries.

+ Foreign exchange differences arising from revaluation of foreign currency balances at reporting date.

Credit Side:

+ Withdrawals of Vietnamese Dong and foreign currencies from banks and treasuries.

+ Foreign exchange differences arising from revaluation of foreign currency balances at reporting date.

Debit Balance:

+ Current Vietnamese Dong and foreign currency balances deposited at banks and treasuries.

Account 112 - "Bank Deposits, Treasury" includes two secondary accounts:

- Account 1121 - Vietnamese Dong

- Account 1122 - Foreign Currency

b) Account 411 - Vaccine Fund Sources:

- Purpose: This account is used to reflect the mobilization and contributions in cash from individuals and organizations both domestically and internationally, and other lawful revenues remaining unused and managed by the Fund.

- Accounting principles:

+ The Vaccine Fund Source Account reflects the remaining cash balances in Vietnamese Dong and foreign currencies at the end of the period that have not been used.

+ At the end of the period, before preparing financial reports, accountants must transfer all accounting entries of income and expenditure for the period, determine discrepancies, and transfer them to the Fund Source.

- Structure and content reflected:

Debit Side:

+ The Vaccine Fund Source increases due to income during the period.

+ Foreign exchange differences arising from revaluation of foreign currency balances at reporting date.

Credit Side:

+ The Vaccine Fund Source decreases due to expenditures during the period.

+ Foreign exchange differences arising from revaluation of foreign currency balances at reporting date.

Debit balance:

+ The remaining balance of the Vaccine Fund Source in cash is currently managed by the Fund Management Board.

c) Account 511 - Vaccine Fund Revenue

- Purpose: This account is used to reflect the revenues received by the Fund from sponsors, other lawful revenues as prescribed, including revenue in cash and in kind.

- Accounting principles:

+ Cash revenue is recorded based on credit notes from banks and treasuries.

+ In cases of receiving foreign currency sponsorship, accountants convert according to the accounting exchange rate of the Ministry of Finance to record revenue.

+ In cases of receiving sponsorship in kind as vaccines managed and used by the Ministry of Health: Based on the Ministry of Health's report (Model 03-BC/QVX attached to this Circular) to record revenue into the Fund.

+ In cases of receiving other material forms of sponsorship, when sold, accountants record revenue into the Fund based on payment documents submitted to the Fund's account.

+ Accountants must maintain detailed records of Fund revenue from each sponsor who has contributed money (Vietnamese Dong, foreign currencies) to the Fund.

+ In cases where sponsors designate specific beneficiaries, accountants must maintain detailed records to ensure correct allocation.

- Structure and content reflected:

Debit Side:

+ Transfer the revenue for the period to determine the remaining Fund balance. + Reduction in revenue recorded (if any).

Credit Side:

+ Revenue in Vietnamese Dong and foreign currencies.

+ Record revenue from sponsorship in kind based on the Ministry of Health's report.

Balance: This account does not have an ending balance. Before preparing financial reports, accountants must transfer the revenue for the period to determine the remaining Fund balance.

Account 511 - Vaccine Fund Revenue includes two secondary accounts:

- Account 5111 - Revenue from sponsor contributions: Reflects contributions in cash and foreign currencies from sponsors.

This account includes two tertiary accounts:

+ Account 51111 - Revenue in cash: Reflects revenue obtained in cash (Vietnamese Dong, foreign currencies) and revenue from selling other material forms supported by sponsors into the Fund.

+ Account 51112 - Record revenue from vaccine sponsorship: Reflects revenue and expenditure from vaccine sponsorship to the Fund received and managed by the Ministry of Health.

- Account 5118 - Other revenue: Reflects interest revenue from the Fund's interest-bearing deposit accounts, other lawful revenue into the Fund;

d) Account 611 - Vaccine Fund Expenditure:

- Purpose: This account is used to reflect expenditures from the Fund for activities related to purchasing, importing vaccines, researching, producing domestic vaccines, and using vaccines for preventing COVID-19.

- Accounting principles:

+ Expenditures from the Fund for related activities shall be recorded according to regulations.

In cases where units do not fully utilize the allocated funds from the Fund, they must return the excess to reduce the Fund's expenditure.

+ For vaccines received as donations and managed and used by the Ministry of Health: Based on the report of the Ministry of Health (according to Model No. 03-BC/QVX attached to this Circular) to record expenditures in the Fund.

b) Structure and content reflected:

Debit Side:

+ Expenditures incurred during the period for purchasing, importing vaccines, researching, producing domestic vaccines, and using vaccines.

+ Record expenditures for vaccine donations based on the report of the Ministry of Health.

Credit Side:

+ Record reductions in expenditures when units receive funds from the Fund but do not fully utilize them and return the excess to the Fund.

+ Transfer the total expenditures of the period to determine the Fund source.

Balance: This account does not have an end-of-period balance. At the end of the period, before preparing financial statements, accountants must transfer the recorded expenditures of the period to determine the Fund source.

Account 611 - Vaccine Fund Expenditure includes two second-level accounts:

- Account 6111 - Expenditure in Cash: Reflects cash expenditures from the Fund according to decisions of authorized agencies.

This account has three third-level accounts:

+ Account 61111 - Expenditure for Purchasing, Importing Vaccines: Reflects expenditures for purchasing, importing vaccines from the Fund.

+ Account 61112 - Expenditure for Researching, Producing Domestic Vaccines: Reflects expenditures from the Fund for research and production of vaccines.

+ Account 61113 - Expenditure for Using Vaccines: Reflects expenditures from the Fund for using vaccines.

- Account 6112 - Recording Expenditures for Donated Vaccines: Reflects the recording of donated vaccines into the Fund.

2. Accounting methods for transactions occurring at the Fund as detailed in the Appendix attached to this Circular.

Article 21. Accounting Books

The Fund must open books to record, systematize, and store all income and expenditure transactions of the Fund.

In cases where the Fund receives donations in other forms of material, it must open books to detail the tracking until the sale and payment into the Fund's income.

The opening of accounting books, preparation, modification, storage, and preservation of accounting books shall be carried out in accordance with the Accounting Law and related documents.

Article 22. Financial Statements of the Fund

1. Period for Preparing Reports:

At the end of the accounting period (month, six months, year), the Fund must prepare and submit financial statements to the Ministry of Finance.

The deadline for submitting monthly and six-monthly reports is no later than five days after the end of the month or six months. The deadline for submitting annual reports is no later than January 15 of the following year.

2. Format and Method of Preparation:

The Fund's financial statements are presented according to Form No. 01-BC/QVX. The format and method of preparing the Fund's financial statements are detailed in the Appendix attached to this Circular.

Article 23. Settlement Report of the Fund

1. Period for Preparing Reports:

Upon completion of operations, the Fund must prepare a settlement report and submit it to the Ministry of Finance for approval according to regulations. Additionally, such reports must be prepared if required by authorized agencies.

The deadline for submitting the settlement report is no later than three months after the end of the Fund's operations as decided by the competent authority.

2. Format and Method of Preparation:

The settlement report of the Fund is presented according to Form No. 02-BC/QVX. The form and method of preparing the settlement report of the Fund are detailed in the Appendix attached to this Circular.

Article 24. Report on the Implementation of Fund Revenue and Expenditure

1. The Ministry of Finance shall be responsible for:

a) Every six months, compile and report to the Prime Minister on the financial revenue and expenditure situation of the Fund;

b) Based on the final account report of the Fund, compile and report to the Prime Minister and the Government for inclusion in the consolidated report on resources to be reported to the National Assembly in economic and social reports and state budget reports.

2. The Fund shall have the responsibility to provide information and submit ad hoc reports according to the requirements of competent authorities as prescribed by law and the requirements of fund donors (if any).

Article 25. Public Disclosure of the Fund's Financial Reports

1. The Fund shall be responsible for publicly disclosing monthly, semi-annual, annual financial reports of the Fund and the final account report of the Fund in accordance with the forms attached to this Circular.

2. The content of public disclosure includes: Amounts raised, list of organizations and individuals who have contributed, details and amounts spent, remaining balance of the Fund.

3. The deadline for public disclosure of monthly and semi-annual reports is no later than ten days after the end of the month or six-month period; the deadline for public disclosure of the annual report is no later than January 31 of the following year, and the final account report is no later than thirty days after approval by the Ministry of Finance.

4. The public disclosure of the Fund shall be carried out through the Ministry of Finance’s electronic portal and one or several other methods: announcement at meetings, posting at the Fund's headquarters, publication in printed materials, written notification to relevant agencies, organizations, and units, and announcement on mass media.

Chapter III

IMPLEMENTING PROVISIONS

Article 26. Effective date

1. This Circular takes effect from the date of signature.

2. During the implementation process, if there are difficulties or obstacles, relevant agencies and units shall promptly report to the Ministry of Finance for review and specific guidance.

DEPUTY MINISTER
DEPUTY MINISTER

Ta Anh Tuan

ANNEX

(Attached to Circular No. 41/2021/TT-BTC dated June 2, 2021

of the Minister of Finance)

1. Accounting Methods for Certain Main Transactions

1.1. Recording Income into the Fund

a) Based on the bank or treasury receipt regarding contributions to the Fund's account opened at the Bank or Treasury, record:

Debit Account 112 - Deposits at Banks, Treasuries (1121, 1122)

Credit Account 511 - Fund Vaccine Revenue (5111)

b) Based on the total amount of material donations recorded in the "Report on Material Donations Received and Recorded as Fund Vaccine Revenue" issued by the Ministry of Health:

Debit Account 611 - Fund Vaccine Expenditure (6112)

Credit Account 511 - Fund Vaccine Revenue (51112)

c) Based on the bank or treasury receipt regarding interest income from deposits of the Fund, record:

Debit Account 112 - Deposits at Banks, Treasuries (1121)

Credit Account 511 - Fund Vaccine Revenue (5118)

d) At the end of the day, transfer the entire balance on the Fund's account at commercial banks to the Fund's account at the State Treasury, based on the transfer receipt, record:

Debit Account 112 - Deposits at Banks, Treasuries (1121,1122) - Detail of Fund Deposits at State Treasury.

Credit Account 112 - Deposits at Banks, Treasuries (1121,1122) - Detail of Fund Deposits at Commercial Banks.

đ) In cases where income is received in other physical forms at the Fund, a ledger must be established to track the detailed items of donated materials until they are sold and the proceeds are deposited into the Fund.

ANNOUNCEMENT/No. 653 + 654/Date July 1, 2021

When selling and depositing money into the Fund, based on the deposit receipt, record:

Debit Account 112 - Deposits at Banks, Treasuries (1121)

Credit Account 511 - Fund Vaccine Revenue (5111)

1.2. Recording Expenditures from the Fund

a) When disbursing the Fund to support the purchase or import of vaccines according to the decision of the competent authority:

(1) Disbursements in Vietnamese currency, based on the disbursement receipt, record:

Debit Account 611 - Fund Vaccine Expenditure (6111)

Credit Account 112 - Deposits at Banks, Treasuries (1121)

(2) Disbursements in foreign currency, based on related receipts, record:

- If the exchange rate for accounting purposes at the time of disbursement to the Ministry of Health is higher than the recorded exchange rate of the foreign currency:

Debit Account 611 - Fund Vaccine Expenditure (6111, 6112) (at the exchange rate for accounting purposes at the time of disbursement)

Credit Account 112 - Deposits at Banks, Treasuries (1122) (at the recorded exchange rate)

Credit Account 411 - Fund Vaccine Source (difference between the exchange rate for accounting purposes at the time of disbursement and the recorded exchange rate)

- If the exchange rate for accounting purposes at the time of disbursement is lower than the recorded exchange rate of the foreign currency:

Debit Account 611 - Fund Vaccine Expenditure (6111, 6112) (at the exchange rate for accounting purposes at the time of disbursement)

Debit Account 411 - Fund Vaccine Source (difference between the exchange rate for accounting purposes at the time of disbursement and the recorded exchange rate).

Credit Account 112 - Deposits at Banks, Treasuries (1122) (at the recorded exchange rate).

b) If the unit does not use all the funds received from the Fund, it must return the excess to the Fund or the amount transferred back, record:

Debit Account 112 - Deposits at Banks, Treasuries (1121, 1122)

Credit Account 611 - Fund Vaccine Expenditure (6111)

c) Deposit the residual Fund balance into the central government budget upon completion of the Fund's activities, based on the payment receipt to the budget, record:

Debit Account 411 - Fund Vaccine Source

Credit Account 112 - Deposits at Banks, Treasuries (1121, 1122)

1.3. Recording Exchange Rate Revaluation at the End of the Period

At the end of the period, based on the exchange rate for accounting purposes stipulated by the Ministry of Finance, the accountant revalues the foreign currency exchange rates on foreign currency accounts as follows:

- If the exchange rate for accounting purposes at the end of the period is higher than the recorded exchange rate, reflect the foreign exchange gain due to revaluation of foreign currency (the difference due to the increase in exchange rate), record:

Debit Account 112 - Deposits at Banks, Treasuries (1122)

Credit Account 411 - Fund Vaccine Source

- If the exchange rate for accounting purposes at the end of the period is lower than the recorded exchange rate, reflect the foreign exchange loss due to revaluation of foreign currency (the difference due to the decrease in exchange rate), record:

Debit Account 411 - Fund Vaccine Source

Credit Account 112 - Deposits at Banks, Treasuries (1122)

1.4. Recording Closing Entries at the End of the Period

At the end of the period, before preparing the financial statements, the accountant prepares journal entries to transfer the Fund's revenues and expenditures for the period to determine the remaining balance of the Fund:

- Transfer the entire revenue of the Fund for the period, record:

Debit Account 511 - Fund Vaccine Revenue

Credit Account 411 - Fund Vaccine Source

- Transfer the entire expenditure of the Fund for the period, record:

Debit Account 411 - Fund Vaccine Source

Credit Account 611 - Fund Vaccine Expenditure.

2. Provisions Regarding Financial Statements and Final Accounts of the Fund

2.1. Reporting Forms

Form No. 01-BC/QVX (Annexed to Circular No. 41/2021/TT-BTC dated June 2, 2021 of the Minister of Finance)

FINANCIAL STATEMENTS

Month/Semi-annual/Year...

Unit of measurement: 1,000 VND

I. FUND REVENUE AND EXPENDITURE

ANNOUNCEMENT/No. 653 + 654/Date July 1, 2021 81

II. REPORT ON DONATIONS TO THE FUND IN OTHER PHYSICAL FORMS

III. DISCLOSURE INFORMATION

1. Explanation of Fund Balance Items

1.1. Deposits at Banks, Treasuries

ANNOUNCEMENT/No. 653 + 654/Date July 1, 2021

1.2. Time Deposits (Idle Funds): Detailed explanation of information such as place of deposit, term, interest rate, etc.

2. Explanation of Revenue Items for the Period

2.1. Revenue from Donors in Currency

Detailed explanation of the sponsor's name for organizations and individuals with large sponsorship amounts. For small sponsors, a single line explanation may be provided.

ANNOUNCEMENT/Number 653 + 654/Date July 1, 2021 83

2.2. Amount of revenue from selling donated assets deposited into the Fund (if applicable)

Provide detailed explanations according to the type of asset, sponsor, quantity, and revenue received from each type of asset recorded in the Fund.

2.3. Amount recorded as vaccine donations to the Fund received and managed by the Ministry of Health

(1) Amount of sponsorship in Vietnamese currency:

(2) Amount of sponsorship in foreign currency at the exchange rate on the date of financial statement preparation (details by each type of foreign currency) (3) Revenue from selling donated assets deposited into the Fund (if applicable)

(4) Amount recorded as vaccine donations into the Fund

Total revenue for the period = (1) + (2) + (3) + (4)

3. Detailed explanation of expenditures in the period

Provide detailed explanations according to management requirements or the requirements of authorized agencies.

4. Other explanatory information (if any) ...

Prepared on ... day ... month ... year DIRECTOR OF THE FUND MANAGEMENT BOARD (Signature, full name, stamp)

FINAL REPORT ON THE FUND

From ... day ... month ... year to ... day ... month ... year ...

Unit of measurement: 1,000 Vietnamese dong 86 ANNOUNCEMENT/Number 653 + 654/Date July 1, 2021

- Other processing

Prepared on ... day ... month ... year DIRECTOR OF THE FUND MANAGEMENT BOARD (Signature, full name, stamp)

2.2. Content and method of preparing report indicators

2.2.1. Financial Report of the Fund

2.2.1.1. Revenue and Expenditure of the Fund

a) Column Indicators:

- Columns A and B: Serial number and name of revenue and expenditure indicators of the Fund.

- Column C: Code of indicators.

- Column 1: Data for the period, including beginning balance, ending balance, and transactions during the period.

- Column 2: Cumulative data from the establishment of the Fund to the end of the reporting period = transactions during the period + cumulative data of the corresponding previous reporting period.

Note: Cumulative data does not include beginning balance and ending balance.

b) Row Data:

(1) Beginning Balance Indicator (Code 100)

- The beginning balance is the balance of the Fund at the start of the reporting period, including Vietnamese dong and foreign currency balances. The beginning balance equals the ending balance of the immediately preceding reporting period.

- The beginning balance data is stated in Column 1 "For the Period," and is not presented in Column 2 "Cumulative."

- Code 100 = Code 110 + Code 120

+ Vietnamese Dong (Code 110) is calculated based on the beginning balance of Account 1121.

+ Foreign Currency (Code 120) is calculated based on the beginning balance of Account 1122.

(2) Revenue Indicator (Code 200)

Total revenue of the Fund in Vietnamese dong, foreign currency, vaccines, and other material forms during the reporting period and cumulatively since the beginning of the year.

Code 200 = Code 210 + Code 220 + Code 230

- Cash Sponsorship Revenue (Code 210) = Code 211 + Code 212

+ Vietnamese Dong (Code 211) is calculated based on the total debit entries in Account 51111 "Cash Sponsorship" for the period, minus any reduction in revenue (if any).

+ Foreign Currency (Code 212) is calculated based on the total debit entries in Account 51111 "Cash Sponsorship" for the period, minus any reduction in revenue (if any).

- Recorded Vaccine Sponsorship Revenue (Code 220) is the value of vaccines sponsored to the Fund during the period managed and used by the Ministry of Health, calculated based on the total debit entries in Account 51112 "Recorded Vaccine Sponsorship Revenue" for the period, minus any reduction in revenue (if any).

- Other Revenue (Code 230): Revenue from interest income and other lawful sources of the Fund, calculated based on the total debit entries in Account 5118 for the period.

(3) Expenditure Indicator (Code 300)

Total expenditure in Vietnamese dong and physical form for purchasing, researching, producing, and using vaccines during the reporting period and cumulatively since the beginning of the year.

Code 300 = Code 310 + Code 320

- Cash Expenditure (Code 310) is the amount spent from the Fund using bank and treasury accounts.

Code 310 = Code 311 + Code 312 + Code 313

+ Vaccine Purchase and Import Expenditure (Code 311): The amount spent from the Fund for purchasing and importing vaccines, calculated based on the total credit entries in Account 61111 "Vaccine Purchase and Import Expenditure" for the period, minus any debit entries when units repay.

+ Domestic Vaccine Research and Production Expenditure (Code 312): The amount spent from the Fund for research and production of vaccines, calculated based on the total credit entries in Account 61112 "Vaccine Research and Production Expenditure" for the period, minus any debit entries when units repay.

88 ANNOUNCEMENT/Number 653 + 654/Date July 1, 2021

+ Vaccine Usage Expenditure (Code 313): The amount spent from the Fund for using vaccines, calculated based on the total credit entries in Account 61113 "Vaccine Usage Expenditure" for the period, minus any debit entries when units repay.

- Recorded Vaccine Expenditure (Code 320) is the value of vaccines received and managed by the Ministry of Health and recorded as expenditure in the Fund corresponding to the revenue from vaccines.

(4) Ending Balance Indicator (Code 400)

The ending balance is the balance of the Fund at the end of the reporting period, including Vietnamese dong and foreign currency balances. The ending balance equals the beginning balance of the immediately following reporting period.

- The ending balance data is stated in Column 1 "For the Period," and is not presented in Column 2 "Cumulative."

Code 400 = Code 410 + Code 420

+ Vietnamese Dong (Code 410) is calculated based on the ending balance of Account 1121.

+ Foreign Currency (Code 420) is calculated based on the ending balance of Account 1122.

2.2.1.2. Report on Other Material Forms of Donations Managed by the Fund

The Fund Management Board must provide detailed reports on other material forms of donations received during the reporting period.

2.2.1.3. Explanatory Information

The Fund Management Board must provide detailed explanatory information about the Fund to clarify the revenue and expenditure figures in the reporting period.

Indicators that require explanation by sponsor should state the name of the organization, unit, or individual sponsor with large sponsorship amounts, and for small sponsors, a single line explanation may be provided. The following indicators need to be explained:

a) Explanation of Monetary Indicators:

This indicator aims to provide a detailed explanation of the monetary balance of the Fund on the date of financial statement preparation, including deposits in banks and treasuries in Vietnamese dong and various foreign currencies, idle funds deposited in commercial banks as stipulated.

(1) Bank deposits and state treasury deposits: Provide detailed explanations of the balance of bank and state treasury deposits of the Fund on the date of preparing the financial report, including deposits in Vietnamese currency and foreign currencies (in original currency and converted amount according to the exchange rate of the Ministry of Finance on the date of preparing the financial report), specifying term deposits and non-term deposits. In cases where there are balances in foreign currencies other than USD and EUR, provide detailed explanations for each type of currency.

The data provided is based on the detailed accounting books of the Fund.

(2) Idle capital deposits: Provide detailed explanations of the balance of idle capital deposits of the Fund that are term deposits at commercial banks on the date of preparing the financial report, including deposits in Vietnamese currency and foreign currencies (in original currency and converted amount according to the exchange rate of the Ministry of Finance on the date of preparing the financial report). In cases where there are balances in foreign currencies other than USD and EUR, provide detailed explanations for each type of currency. Detail by term, interest rate, and place of deposit. The data provided is based on the detailed accounting books of the Fund.

b) Provide detailed explanations of the income indicators of the Fund during the period:

Provide detailed explanations of the income in Vietnamese Dong, by each type of original foreign currency, recorded income and expenditure for vaccine funding into the Fund (quantity, value), by each donor.

The total amount of foreign currency funding received by the Fund must be detailed by each type of original currency and by each donor, while converting the total amount of foreign currency received by each type of currency according to the accounting exchange rate of the Ministry of Finance on the date of preparing the financial report.

For other material forms of donations into the Fund that have been sold and the proceeds deposited into the Fund, provide detailed explanations.

The data provided is based on the detailed accounting books of the Fund and reports from the Ministry of Health.

c) Provide detailed explanations of the expenditure indicators of the Fund during the period:

Provide detailed explanations of the expenditures of the Fund during the period for purchasing and importing vaccines; explain the contents of expenditures for research, production of domestic vaccines, and vaccine usage according to management requirements.

ANNOUNCEMENT/No. 653 + 654/Date July 1, 2021

The data provided is based on the detailed accounting books of the Fund and reports from the Ministry of Health.

d) Other explanations as required by management (if any):

2.2.2. Final account report of the Fund

- For final account reports prepared according to the requirements of the competent authority: Information in the final account report includes the total income and expenditure of the Fund in monetary and physical form during the reporting period.

- For final account reports upon termination of the Fund's activities: Information in the final account report includes the cumulative total income and expenditure of the Fund in monetary and physical form from its establishment until termination.

3. Template for the consolidated report on vaccines receiving donations managed and used by the Ministry of Health and recorded in the Fund

Form number 03-BC/QVX (Issued together with Circular No. 41/2021/TT-BTC dated June 2, 2021 of the Minister of Finance)

CONSOLIDATED REPORT ON RECEIVED DONATIONS FOR VACCINES RECORDED IN THE COVID-19 VACCINE FUND
From... to... year...

4. Template for publicizing the receipt of various sources of donations, support, and voluntary contributions to the Fund

Form number 04-CK/QVX (Issued together with Circular No. 41/2021/TT-BTC dated June 2, 2021 of the Minister of Finance)

SUMMARY OF RESULTS FROM RECEIVING DONATIONS, SUPPORT, AND VOLUNTARY CONTRIBUTIONS FROM ORGANIZATIONS, INDIVIDUALS, AND OTHER LEGAL FUNDS FOR THE COVID-19 VACCINE FUND

(Reporting period: Month/6 months/year)
PREPARER (Signature, full name)
5. Template for publicizing the financial status of the Fund

Form number 05-CK/QVX (Issued together with Circular No. 41/2021/TT-BTC dated June 2, 2021 of the Minister of Finance)

(Reporting period: month, 6 months, year)

Prepared on... day... month... year... DIRECTOR OF THE FUND MANAGEMENT BOARD (Signature, full name, stamp)

6. Template for publicizing the final accounts of the Fund

Form number 06-CK/QVX (Issued together with Circular No. 41/2021/TT-BTC dated June 2, 2021 of the Minister of Finance)

Unit: Million dong

PUBLICIZE THE FINAL ACCOUNTS OF THE FUND

Year.....

PUBLISHED BY THE GOVERNMENT OFFICE

Address: No. 1, Hoang Hoa Tham Street, Ba Dinh District, Hanoi Telephone contact:

Content: 080.44417; Fax: 080.44517

Unit: Million dong

PUBLICIZE THE FINAL ACCOUNTS OF THE FUND

THE GOVERNMENT PUBLICATIONS DEPARTMENT

Address: No. 1, Hoang Hoa Tham Street, Ba Dinh District, Hanoi Contact Number:

Content: 080.44417; Fax: 080.44517