Decision No. 60/2003/QD-BTC on the issuance of Financial Management Regulations for the Fund to Support and Mobilize the Overseas Vietnamese Community

DECISION OF THE MINISTER OF FINANCE

Regarding the issuance of Financial Management Regulations for the Support Fund,

mobilizing the overseas Vietnamese community Male Directive

THE MINISTER OF FINANCE

Pursuant to Decree No. 86/2002/NĐ-CP dated 5/11/2002 of the Government stipulating the functions, tasks, powers, and organizational structure of Ministries and ministerial-level agencies;

Pursuant to Decree No. 178/CP dated 28/10/1994 Pursuant to the Decision No. 990/QD-TTg dated

of the Prime Minister on the establishment of the Support Fund for Mobilizing the Overseas Vietnamese Community 30/10/2002 Based on the proposal of the Director of the Financial Policy Department, Male abroad;

This Decision hereby promulgates the "Financial Management Regulations for the Support Fund for Mobilizing the Overseas Vietnamese Community."

DECISION:

Article 1. This Decision shall take effect 15 days from the date of publication in the Official Gazette.

Article 2: The Director of the Support Fund for Mobilizing the Overseas Vietnamese Community is responsible for implementing this Decision.

Article 3: Financial management of the Support Fund,

Regulation

mobilizing the overseas Vietnamese community

(Issued pursuant to Decision No. 60/2003/QD-BTC

dated April 21, 2003 of the Minister of Finance)

Chapter I. General Provisions

These regulations apply to the Support Fund for Mobilizing the Overseas Vietnamese Community (hereinafter referred to as the Fund), established and operating under Decision No. 990/QD-TTG dated October 30, 2002 of

Article 1. Scope of Application

Article 2. Principles of financial operation of the Fund

The Support Fund has legal personality, and may open accounts at the State Treasury for activities funded by the state budget or funds with origins from the state budget; it may also open accounts at state-owned commercial banks for activities funded by resources raised from organizations and individuals both within and outside the country. The Fund operates without profit motives, adhering to the current State Budget Law and related state financial policies concerning the Fund's operations. The Fund must publicly disclose its fundraising, management, and usage of funds according to Decision No. 225/1998/QD-TTg dated November 20, 1998 of

Article 3. Objectives of Fund Assistance

Preservation and development of traditional national cultural identity, maintenance and promotion of the Vietnamese language in the community; Organization of exchange activities: summer camps for young people, sports competitions, exhibitions, artistic performances; Support for information and cultural activities serving the community; Support for mobilizing overseas Vietnamese to invest and cooperate economically and scientifically in the country; Support for individual experts and intellectuals from overseas Vietnamese communities returning to work and engage in scientific cooperation; Support for the activities of associations and organizations of overseas Vietnamese; Other support consistent with the Fund's charter and objectives;

Chapter II. Sources of Revenue and Expenditures of the Fund

Article 4. The Fund has the following sources of revenue

Initial funding from the state budget is 7 billion VND; Annual supplementary funding from the state budget based on approved project budgets by authorized bodies, state budget capacity, and fund-raising capabilities of the Fund. Voluntary contributions and sponsorships from organizations and individuals both within and outside the country in accordance with the law. Funds and assets entrusted by organizations and individuals both within and outside the country for specific purposes in line with the Fund's charter and objectives. Interest from deposit accounts and other lawful revenues (if any).

The State budget allocates an initial fund of seven billion VND; annual supplementary funds from the State budget shall be based on the project budgets approved by the competent authority, the State budget capacity, and the capital raised by the Fund. Voluntary contributions and donations from organizations and individuals both within and outside the country to the Fund must comply with relevant laws. Funds and assets entrusted by organizations and individuals both within and outside the country to the Fund for specific purposes in accordance with the Fund's objectives must comply with the Fund's charter and purposes. Interest income from deposit accounts and other lawful revenues (if any).

Article 5. Use of the Fund

The Fund shall be used for the following purposes: 1 - The Fund's financial assistance activities: The Fund provides financial support to overseas Vietnamese communities through projects that align with the Fund's objectives and ensure strict compliance with state financial management policies. The Fund must be used for its intended purpose according to regulations for each source of capital, specifically as follows: Projects using state budget funds: The project targets must comply with the goals set by the Government. Projects funded by organizations and individuals both domestically and internationally that align with the Fund's objectives; Implementing funded projects with designated addresses based on the authorization of domestic and international organizations and individuals. The Fund is responsible for implementing projects strictly in accordance with the authorization of funding organizations and individuals and in compliance with the law. The Fund may not use project funds for internal operations; it may not engage in business activities; nor may it lend money or engage in other activities not in accordance with this regulation.

2 - Expenditure for annual Fund management activities according to the approved budget estimate. The Fund Director decides on the Fund's financial activities based on the direction, tasks, and budget plan approved by the Ministry of Foreign Affairs. The Fund may not be used for other activities inconsistent with the Fund's objectives and purposes.

Article 6. Contents of expenditure for Fund management activities

Salaries, insurance, allowances, and subsidies for the Fund's management staff. For those working under a part-time system, they are only entitled to salary from one place as stipulated by the Ministry of Foreign Affairs and part-time allowances drawn from the Fund's budget. Purchase and repair expenses for fixed assets serving Fund activities; Office supplies expenses; Public service payment expenses (electricity, water, fuel, sanitation, environment...); Survey, information collection, and project development expenses of the Fund; Outbound and inbound travel expenses directly serving Fund activities; Communication expenses for building and developing the Fund; Awards expenses according to regulations for organizations and individuals with achievements in Fund activities; Other related expenses for Fund activities.

Article 7. The Fund may allocate a bonus and welfare fund, the annual allocation rate for the bonus and welfare fund is applied as for units with income. The source of the bonus and welfare fund allocation is from the Fund's annual management activity budget.

Article 8. Sources of expenditure for Fund management activities: The Fund may allocate up to 10% of the total approved annual budget to cover management activities.

Financial Management Regulation for the Fund Supporting and Mobilizing Overseas Vietnamese Communities (Annexed Decision No. 60/2003/QD-BTC dated April 21, 2003 of the Minister of Finance)

Chapter III. Financial Management of the Fund

Article 9. Preparation and Approval of the Annual Budget Plan of the Community Support Fund

The annual budget estimate of the Fund is a component of the annual budget of the Ministry of Foreign Affairs. The Fund must comply with current regulations of the State Budget Law and these Regulations. The annual budget plan is prepared based on assigned tasks and goals by the Government. The annual budget plan of the Fund is implemented as follows: Establishing plans to use approved project funds: The Community Support Fund receives and reviews projects submitted by project sponsors, compiles them into a project list with accompanying documentation, and submits it to the Ministry of Foreign Affairs. The Ministry of Foreign Affairs agrees with the Ministry of Finance on the sources of funding and the structure of the financial assistance for the planned year; based on the agreement document from the Ministry of Finance, the Ministry of Foreign Affairs decides to approve the projects and instructs the Chairman of the Committee on Overseas Vietnamese, and the Fund Director to approve projects within their authority as the basis for preparing the annual budget plan. The Fund prepares and submits the plan for raising funds from domestic and international organizations for approval by the Ministry of Foreign Affairs. The additional state budget funds allocated annually are established based on the total project funds approved by the competent authority after deducting the raised funds from domestic and international organizations and other sources (if any), and based on the annual state budget capacity to decide. The preparation of the annual budget estimate for management activities is carried out in accordance with the current State Budget Law.

Article 10. The Fund's responsibilities in accounting work and financial management

The Fund must organize accounting and statistical work in accordance with current legal regulations; comply with regimes and regulations regarding invoices and accounting vouchers. It shall separately account for its operational activities and internal expenditures. The currency used is the Vietnamese Dong (VND); it may also use US Dollars (USD) and foreign currencies, but all accounting entries must be converted to VND. Currency conversion shall be carried out according to the regulations of the State Bank. In cases where foreign revenue is in foreign currencies that cannot be converted, such revenue shall be collected into the temporary state budget held by Vietnamese representative offices abroad. Maintain complete records and statistics on organizations and individuals contributing, sponsoring, and receiving sponsorship, reflecting all transactions. Prepare and submit annual financial reports and settlement statements within the prescribed deadlines. Be subject to inspection and audit of the Fund's financial activities by financial authorities. Provide necessary information to relevant state management agencies when required by law.

Article 11. Annual Settlement of Operating Expenses The Fund is responsible for settling annual operating expenses in accordance with the State Budget Law; other national regulations related to expense settlement concerning the Fund’s operations.

1\. For completed projects: Approval Authority for Settlement: The authority that approved the feasibility study of the project has the right to approve the settlement. Audit Authority for Settlement: Projects approved by the Ministry of Foreign Affairs and the National Committee for Overseas Vietnamese have their settlements audited by the Fund. For projects approved by the Fund Director, the Director shall arrange an audit team. The maximum period for auditing and approving a project is 30 days from the date of receipt of all settlement documents. The maximum deadline for preparing the settlement report is three months. The Fund compiles and submits annually to the Ministry of Foreign Affairs the settlement reports of completed projects that have been approved. The Fund is responsible for urging project leaders who delay settlement; compiling and analyzing reasons for late submission of settlement reports for completed projects, and proposing solutions to the Ministry of Foreign Affairs.

2\. For ongoing projects, they must also compile and evaluate the situation of budget usage in the year and submit to the Ministry of Foreign Affairs.

Article 12. State Management of Finance

The Fund is subject to state financial management by the Ministry of Finance. The Community Support Fund must comply with current national regulations on financial inspection, examination, and auditing.