Circular No. 75/2008/TT-BTC guides the management of investment capital from the budget of communes, towns, and wards.

CIRCULAR

Guidelines for managing investment capital from communal budget funds of villages, towns, and districts

________________________________

Pursuant to the State Budget Law No. 01/2002/QH11 dated December 16, 2002; Government Decree No. 60/2003/NĐ-CP dated June 6, 2003 detailing and guiding the implementation of the State Budget Law;

Pursuant to the Construction Law No. 16/2003/QH11 dated November 26, 2003; Government Decree No. 16/2005/NĐ-CP dated February 7, 2005 on project management for construction works and Government Decree No. 112/2006/NĐ-CP dated September 29, 2006 amending and supplementing certain articles of Government Decree No. 16/2005/NĐ-CP dated February 7, 2005 on project management for construction works; Government Decree No. 99/2007/NĐ-CP dated June 13, 2007 on managing construction work investment costs and Government Decree No. 03/2008/NĐ-CP dated January 7, 2008 amending and supplementing certain articles of Government Decree No. 99/2007/NĐ-CP dated June 13, 2007 on managing construction work investment costs;  Pursuant to Government Decree No. 99/2007/NĐ-CP dated June 13, 2007 on managing construction work investment costs;

Pursuant to Government Decree No. 52/1999/NĐ-CP dated July 8, 1999 on the issuance of Investment and Construction Management Regulations, Government Decree No. 12/2000/NĐ-CP dated May 5, 2000 and Government Decree No. 07/2003/NĐ-CP dated January 30, 2003 amending and supplementing certain articles of the Investment and Construction Management Regulations issued together with Government Decree No. 52/1999/NĐ-CP dated July 8, 1999;

The Ministry of Finance issues guidelines for managing investment capital from communal budget funds of villages, towns, and districts as follows:

Part I

GENERAL PROVISIONS

1. These guidelines apply to projects for construction investment within the authority of the Chairman of the People's Committee of villages, towns, and districts (hereinafter referred to collectively as the People's Committee of villages) to construct new, renovate, and upgrade works using village, town, and district budget funds (hereinafter referred to collectively as village budgets).

These guidelines do not apply to projects and works under the management of villages, towns, and districts that are guided by other documents of competent authorities.

For projects funded by other sources, it is encouraged to follow these guidelines.

2. The Chairman of the Provincial People's Committee and the People's Committee of centrally governed cities shall base their decisions on actual conditions and the capacity and level of management of construction investment projects of the People's Committee of villages to appropriately delegate authority to approve construction investment projects according to specific local conditions.

3. Before approving the economic and technical report for construction works or construction investment projects (hereinafter referred to collectively as construction investment projects), the investor must clearly define the source of funding for the project, ensuring sufficient funding to implement the project within two years.

In special urgent cases (due to natural disasters, fires) requiring immediate commencement, the construction investment project must be agreed upon in writing by the Standing Committee of the People's Council of the village and approved in writing by the People's Committee of the district, county, town, or city directly under the province (hereinafter referred to as the People's Committee of the district). Such projects must have a plan for anticipated funding sources and must be prioritized for funding allocation as soon as possible, avoiding arrears.

4. Construction investment projects decided by the People's Committee of the village to approve investment must be included in the planning scheme approved by the competent authority and consistent with the socio-economic development conditions; comply with the procedures and formalities for construction investment as stipulated by current national regulations.

If a construction investment project is not included in the planning scheme approved by the competent authority, before approval, the project must obtain written consent from the People's Committee of the district regarding the planning scheme.

5. The Chairman of the People's Committee of the village must ensure the proper use of investment capital for its intended purpose, economy, efficiency, transparency, and compliance with state financial management systems for investment and construction and the specific provisions of this Circular. 6. The project owner or the Project Management Board established by the project owner or the consulting firm hired by the project owner to manage the project (hereinafter referred to collectively as the project owner) must manage the construction investment project in accordance with current national regulations and the specific provisions of this Circular. 7. Financial agencies at all levels,

higher-level agencies responsible for construction investment project management

according to their assigned functions and responsibilities, are responsible for guiding the project owner to organize the implementation of construction investment projects. The State Treasury has the responsibility to monitor and make timely, full, and accurate payments for construction investment projects when they meet the conditions for payment as stipulated by current national regulations and the specific provisions of this Circular. I. SOURCES OF INVESTMENT CAPITAL FROM THE COMMUNE BUDGET. 1. State budget capital:

Part II

SPECIFIC PROVISIONS

- Commune budget capital allocated to projects

- Support capital from higher-level state budgets for projects

approved by the People's Committee of the commune. a) For PPP projects, the tenderer shall post the selection results of investors and attach the approval decision on the System no later than ten days from the date the document is issued in accordance with point b of Clause 2, Article 4 of Decree No. 35/2021/NĐ-CP..

- Voluntary contributions from residents in the commune for specific investment projects, approved by the People's Council of the commune and included in the commune budget revenue. 2. Voluntary contributions and non-repayable aid from organizations and individuals (domestic and foreign) for investment in projects managed by the commune are implemented as follows:

- In the case of monetary contributions: the People's Committee of the commune collects and deposits the funds into the commune-managed investment capital account opened at the State Treasury.

- In the case of in-kind contributions:

 + For voluntary contributions of materials and labor from commune residents: based on the quantity of materials and labor contributed by residents, the market prices of materials, and the daily wage rates in the locality, the People's Committee of the commune determines the value (in Vietnamese dong) to record as investment capital income and expenditure for the project.

+ For in-kind contributions from other organizations and individuals for investment in the commune: the People's Committee of the commune establishes a committee to determine the value of the in-kind contributions (in Vietnamese dong) to be managed by the project owner; simultaneously recording the income and expenditure for the project. The committee to determine the value of in-kind contributions is established by the Chairman of the People's Committee of the commune; members include representatives from the local government and mass organizations and the community investment oversight board.

II. ESTABLISHING ANNUAL INVESTMENT CAPITAL PLANS, ANNOUNCING PLANS, AND ADJUSTING PLANS.

1. Establishing investment capital plans:

II. ESTABLISHING THE PLAN, ANNOUNCING THE PLAN, AND AMENDING THE ANNUAL INVESTMENT CAPITAL PLAN.

1. Establishing the investment capital plan:

- The preparation of the investment capital plan by the People's Committee of the commune shall be carried out in accordance with Circular No. 60/2003/TT-BTC dated June 23, 2003 on the management of commune budgets and other financial activities of communes, wards, towns, and annual guidance documents issued by the Ministry of Finance. Specifically, based on the commune's socio-economic development plan, the Investor prepares the investment capital plan, which is submitted together with the budget estimate to the People's Committee of the commune. Based on the commune's budget revenue, the People's Committee of the commune consolidates and reviews the investment capital plan for approval by the People's Council of the commune (in Form No. 01/BC-KHĐT). The investment capital plan must ensure the following contents:

+ Total investment capital for the year, divided by each investment project and each source of capital (capital from the commune budget; capital from higher-level state budget support; capital contributed by organizations and individuals within the commune; capital contributed by organizations and individuals outside the commune).

+ Any recommendations (if any).

- After being approved by the People's Council of the commune, the commune's investment capital plan is sent to the District Financial Planning Office (or County, Town, City under Province, hereinafter referred to as the County Financial Planning Office). The County Financial Planning Office compiles and reports to the People's Committee of the county, the Department of Finance, and the Department of Planning and Investment (in Form No. 02/BC-KHĐT).

2. Notification of the investment capital plan:

Based on the annual investment capital plan approved by the People's Council of the commune; based on the commune's budget revenue; support from the higher-level state budget; mobilized capital contributions and the volume of implementation of investment projects, the Chairman of the People's Committee of the commune decides to notify the investment capital plan, and simultaneously sends it to the State Treasury (where the account is opened) as the basis for controlling and paying investment capital for the project.

3. Annual adjustment of the investment capital plan:

- Periodically, the People's Committee of the commune reviews the progress and investment objectives of the investment projects in the year to adjust the plan within its authority, transferring capital from investment projects that are not feasible to those that are ahead of schedule, still owe work volumes, and those that have the potential to complete beyond the plan in the year. The adjustment of the plan must ensure that the adjusted plan for the investment project is not lower than the amount of capital already paid by the State Treasury for that project.

- The deadline for adjusting the annual plan ends no later than December 31 of the planning year.

III. TEMPORARY ADVANCE AND PAYMENT OF INVESTMENT CAPITAL FOR CONSTRUCTION PROJECTS.

1. Opening an account:

- The Investor opens an account for the allocation of investment capital from the commune budget at the State Treasury (where the commune budget transaction account is opened).

- The State Treasury guides the Investor in opening the account.

2. Initial documents and materials of the investment project:

a) For projects in the preparatory phase of investment:

- Approval document for the cost estimate for the preparatory work.

- Selection document for contractors in accordance with the Bidding Law.

- Contract between the Investor and the contractor.

b) For projects in the implementation phase of investment:

- Decision approving the economic-technical report on construction works along with the economic-technical report.

- Decision approving the investment project for construction works and the decision approving the detailed estimate (in case of preparing an investment project).

- Selection document for contractors in accordance with the Bidding Law (including bidding, direct award, direct purchase, competitive tendering, self-execution, and selection of contractors in special cases).

- Contract between the Investor and the contractor.

3. Temporary advance of investment capital for construction projects:

a) Level of temporary advance:

- For construction contracts: the minimum level of temporary advance is equal to 20% of the contract value and does not exceed the annual investment capital plan for the tender package.

- For procurement packages: the level of temporary advance is agreed upon by the Investor and the contractor but does not exceed the contract value and the annual investment capital plan for the package.

 - For consulting contracts: the level of temporary advance is agreed upon in the contract between the Investor and the contractor but is at least 25% of the contract value.

- For land clearance work: the level of temporary advance is according to the progress in the land clearance plan within the approved scheme.

b)  Application documents for temporary advance: based on initial documents and materials and the levels of temporary advance specified above; the Investor checks and prepares the application documents including: Payment Request for Investment Capital; Transfer Document; Contractor's Guarantee for the Temporary Advance (if the Investor and the contractor agree on such guarantee in the contract); accompanied by the documents stipulated in Clause 2 Section III Part II of the Circular and sent to the State Treasury where the Investor has opened the account.

c) Recovery of temporary advance:

- The temporary advance for the works mentioned in Point a above is recovered through each payment for completed quantities of the contract; recovery begins from the first payment and is completed when the payment for completed quantities reaches 80% of the contract value. The level of recovery for each payment is agreed upon by the Investor and the contractor. The Investor is responsible for calculating a reasonable temporary advance, managing it strictly, using it for the intended purpose, effectively, and ensuring full repayment of the temporary advance when the payment for completed quantities reaches 80% of the contract value.

- For land clearance work:

+ For compensation and support work: after disbursing to the beneficiaries, the Investor collects the supporting documents, processes the payment procedures, and recovers the temporary advance within the latest period of 30 working days from the date of disbursement to the beneficiaries.

+ For other land clearance work: the temporary advance is recovered through each payment for completed quantities and is fully recovered once the land clearance work is completed.

d) In cases where the temporary advance has not been recovered but is unused or used for other purposes, the Investor is responsible for recovering and fully repaying it to the state budget. Strictly prohibited is the temporary advance that is not used or used for purposes other than intended.

- In case the temporarily advanced capital has not been fully recovered by the end of the planning year due to the contract not being paid up to the prescribed ratio, it shall continue to be recovered in the following year's plan without being deducted from the next year's investment payment plan. 

e) The temporary advance of capital shall be carried out within the payment period of the capital plan and may be temporarily advanced one or more times based on the need for temporary capital advances but shall not exceed the amount of temporarily advanced capital as stipulated above.

4. Payment of completed volume:

a) For works implemented through construction contracts: the contract payment shall be in accordance with each type of contract, contract price, and conditions specified in the contract. The number of payments, payment stages, and payment conditions must be clearly recorded in the contract.

- For lump-sum contract prices: payment shall be made according to a percentage (%) of the contract price or the price of the completed project or project component corresponding to the payment stages recorded in the contract. After completing the contract and receiving acceptance, the tenderer shall pay the contractor the full signed contract price and any adjusted price amounts (if applicable).

- For fixed unit price contracts: payment shall be made based on the quantity of completed work (including approved additional quantities within authority, if any) accepted during the payment stage and the corresponding unit prices recorded in the contract or supplementary contract annexes. After completing the contract and receiving acceptance, the tenderer shall pay the contractor the full signed contract price and any adjusted price amounts (if applicable).

- For adjustable price contracts: payment shall be made based on the quantity of completed work (including approved additional quantities within authority, if any) accepted during the payment stage and the adjusted unit prices as stipulated in the contract. If the adjustment conditions have not been met by the payment stage, the provisional unit price at the time of signing the contract shall be used for payment, and the payment value shall be adjusted when the actual adjusted unit price is determined according to the contract provisions. After completing the contract and receiving acceptance, the tenderer shall pay the contractor the full signed contract price and any adjusted price amounts (if applicable).

- For combined contracts: payment shall be made in accordance with the payment regulations for each type of contract as described above.

- For work volumes outside the contract:

+ For additional work quantities up to 20% compared to the corresponding quantities in the contract and having unit prices in the contract, the additional work quantities shall be paid according to the unit prices recorded in the contract.

+ For additional work quantities exceeding 20% compared to the corresponding quantities in the contract or additional work quantities without unit prices in the contract, the additional work quantities shall be paid according to the unit prices approved by the Investor in accordance with the regulations.

+ For additional work quantities outside the scope of work defined in the contract applying the lump-sum contract method, the additional value shall be budgeted and both the tenderer and the contractor shall agree to sign a supplementary contract for this additional value.

- Payment documents: when there is a quantity of completed work accepted according to the payment stage and payment conditions in the contract, the Investor shall prepare a payment request document to send to the State Treasury, including: 

+ A table determining the value of the completed work quantity according to the contract as guided by the Ministry of Construction (currently stipulated in Appendix 2 of Circular No. 06/2007/TT-BXD dated July 25, 2007 of the Ministry of Construction on guiding contracts in construction activities - attached). 

+ A payment request for investment capital.

+ Transfer vouchers.

When there are additional quantities outside the contract, the Investor shall send a table determining the value of the additional quantities outside the contract as guided by the Ministry of Construction (currently stipulated in Appendix 4 of Circular No. 06/2007/TT-BXD dated July 25, 2007 of the Ministry of Construction on guiding contracts in construction activities - attached).

b) For works implemented without using construction contracts (such as self-execution, project management tasks directly executed by the Investor,...): payment shall be appropriate to each type of work based on reports of completed work quantities and approved budgets for each work.

5. For packages implemented under the form of villagers executing the work themselves:

- For simple technical packages where the main workload uses manual labor and can be executed by villagers, the Investor shall report to the authorized decision-maker to approve the investment project and assign the villagers to organize construction and bear responsibility before the law. Under this form, the Investor shall directly sign a contract with the villagers through a Representative (a person elected by the villagers participating in construction; the Representative may be a construction team or a group of people with one person taking responsibility). When applying this form, community investment supervision must be present.

- Initial documents and materials for this form: in addition to the documents stipulated in Clause 2, Section III, Part II of the Circular, it also includes the approval document of the investment decision-maker allowing villagers to execute the work themselves.

- Documents for temporarily advancing investment capital for construction projects and payment of completed volumes shall be applied similarly to the provisions in Clause 3 and Clause 4, Section III, Part II of the Circular.

- Packages executed by villagers themselves shall be temporarily advanced up to a maximum of 50% of the contract value and shall not exceed the investment capital allocated in the annual plan for the package.

- Based on the contract and the completed construction quantity accepted; the Investor shall prepare a document requesting a temporary advance (or payment) and submit it to the State Treasury to request a temporary advance (or payment) for the Representative.

In case the Representative does not have an account: The Investor requests the State Treasury to make cash payments; the Representative directly pays the people participating in the construction work of the tender package; the Investor and the Community Investment Supervision Board are responsible for closely monitoring the payment of labor costs to the people.

- When paying for works carried out by villagers themselves, the payment agency shall not pay the value-added tax portion included in the project budget.

6. The amount paid for each item of work or sub-project shall not exceed the approved budget estimate or the tender price; the total amount paid for the investment project shall not exceed the approved total investment ceiling.

The amount paid for the investment project in a year (including advance payments and payments for completed volumes) shall not exceed the annual capital plan allocated to the investment project.

7. Time limit for preparing payment request documents and time limit for payment:

a) Time limit for preparing payment request documents: within three working days from the date when all valid payment request documents (or advance payment request documents) of the contractor are received; the Investor must complete the payment request procedures (or advance payment request procedures) and transfer the payment documents (or advance payment documents) to the State Treasury (where the account is opened).

b) Payment time limit: based on the payment request documents (or advance payment request documents) sent by the Investor (as stipulated in Clause 2, Clause 3, and Clause 4, Section III, Part II of this Circular); within less than seven working days (from the date of receiving all documents), based on the contract (or approved budget estimate for works carried out without a contract); the State Treasury will perform payment control (or advance payment) for the Investor and, at the Investor's request, pay (or advance) to contractors and related units; simultaneously recover advance payments (if any).

8. The State Treasury performs payment control as follows: based on the payment request documents submitted by the Investor, the State Treasury will base its actions on the payment terms specified in the contract (number of payments, payment stages, payment timing, and payment conditions) and the value of each payment to make payments to the Investor. The Investor is solely responsible for the accuracy and legality of the executed volume, rates, unit prices, various types of work estimates, quality of the project, the State Treasury is not responsible for these issues. The State Treasury bases its actions on the payment documents and makes payments according to the contract.

IV. SETTLEMENT OF INVESTMENT CAPITAL FOR CONSTRUCTION PROJECTS.

1. All investment projects under the management and decision-making authority of the People's Committee of the commune, upon completion and handover for use, must prepare a final settlement report and be subject to audit and approval of the final investment capital settlement of the completed project in accordance with current financial management regulations and specific provisions of this Circular.

2. Documents for final settlement of completed investment construction projects include:

- Final settlement report forms for completed investment projects according to Form No. 01/QTDA and Form No. 02/QTDA (guidelines for filling out final settlement report forms are provided in Appendix I attached to this Circular).

- Relevant legal documents including: Decision approving the Economic and Technical Report on Construction Projects or Decision approving the Investment Construction Project, Decision approving the Technical Design and Budget Estimate or Decision approving the Detailed Budget Estimate, Bid Assignment Decision or Winning Bid Decision (if any) and supplementary documents (if any).

3. Audit of final settlement of investment capital for completed projects:

- When the investment construction project is completed and handed over for use; within two months at the latest, the Investor must complete the final settlement report for the completed investment project. Within one month at the latest, the competent unit under the management of the Investment Decision Maker must complete the audit of the final settlement report for the completed investment project, submit it to the Investment Decision Maker for approval of the final settlement of the investment capital for the completed project.

- In cases where there is insufficient capacity to audit the final settlement report for the completed investment project; the competent unit under the management of the Investment Decision Maker the Investor reports to the Investment Decision Maker to choose one of the following options:

+ Engage an independent auditing organization to audit the final settlement report for the completed investment project.

+ Request the District Finance and Planning Office to audit the final settlement report for the completed investment project.

- Contents of the audit of the final settlement report for the completed investment project (audit) and contents of the audit result report for the final settlement of the completed investment project (audit result report) are detailed in Appendix II attached to this Circular.

4. Standards for audit fees and audit fees for final settlement of completed projects:

- Organizations and units conducting audits and audits of final settlement reports for completed investment projects are entitled to audit fees for final settlement reports for completed investment projects, according to the following standards:

+ Standard for audit fees for final settlement reports for completed investment projects: calculated at 0.32% of the total investment value of the investment project (minimum 300,000 VND).

 + Standard for audit fees for audit reports of final settlement for completed investment projects: calculated at 0.50% of the total investment value of the investment project plus VAT (minimum 500,000 VND).

- Audit fees for final settlement reports for completed investment projects are included in other costs in the total value of the final settlement of investment capital for the project.

5. Approval of final settlement of investment capital for completed projects:

Based on the audit result report (audit result report) of the final settlement of investment capital for completed projects by organizations and units conducting audits; the Investor reviews and submits to the Investment Decision Maker for approval of the final settlement of investment capital for the completed project.

The Decision approving the final settlement of investment capital for the completed project must be publicly posted at the Commune People's Committee office and sent to the following agencies and units:

- Investor.

- State Treasury (where the account is opened).

- District Finance and Planning Office.

- Community Investment Supervision Board.

Documents for final settlement of investment capital for completed projects are prepared and stored according to file retention regulations.

V. EXPENSES FOR SUPERVISION BY THE COMMUNITY INVESTMENT SUPERVISION BOARD.

All investment projects under the management and investment decision-making authority of the People's Commune Council must be subject to investment supervision during the implementation process. The community investment supervision board shall carry out such investment supervision.

The community investment supervision board is established and performs its functions and tasks in accordance with Decision No. 80/2005/QĐ-TTg dated April 18, 2005, of the Prime Minister on the issuance of the Community Investment Supervision Regulation and Circular Joint Circular No. 04/2006/TTLT-KH&ĐT-UBTƯMTTQVN-TC dated December 4, 2006, of the Ministry of Planning and Investment, the Standing Board of the Vietnam Fatherland Front Central Committee, and the Ministry of Finance guiding the implementation of the Community Investment Supervision Regulation.  The Ministry of Planning and Investment, the Standing Board of the Vietnam Fatherland Front Central Committee, and the Ministry of Finance provide guidance on the implementation of the Community Investment Supervision Regulation.

The operating expenses of the community investment supervision board are implemented in accordance with Part IV of Joint Circular No. 04/2006/TTLT-KH&ĐT-UBTƯMTTQVN-TC dated December 4, 2006, of the Ministry of Planning and Investment, the Standing Board of the Vietnam Fatherland Front Central Committee, and the Ministry of Finance.  The Ministry of Planning and Investment, the Standing Committee of the Vietnam Fatherland Front Central Committee, and the Ministry of Finance.

In cases where small investment projects (with a value below 200 million VND), which have simple technical designs and where the Investor lacks the capacity to self-supervise construction works and cannot hire a construction supervision consultant, the Investor shall submit to the Investment Decision Maker to entrust the community investment supervision board to organize construction work supervision; in this case, the community investment supervision board shall be entitled to receive construction work supervision cost rates, not exceeding the maximum construction work supervision cost rate set and announced by the provincial People's Committee.

VI. REPORTING AND INSPECTION REGIME.

1. Reporting System:

- Every six months and annually, the People's Commune Council shall prepare reports on the implementation of the volume and paid investment capital (according to Model No. 03/BC-THKH) and reports on the final settlement of investment capital for completed projects within their management scope (according to Form No. 03/THQT); these reports shall be sent to the Commune People's Council, the community investment supervision board, and the District Financial and Planning Office. The six-month report shall be submitted before July 10, and the annual report shall be submitted before January 15 of the following year.

The content of the report must analyze and evaluate the implementation of the plan, investment results during the period, capital usage, existing issues, and propose measures to address them.

- Based on the reports on the implementation of investments by the People's Commune Council, the District Financial and Planning Office shall be responsible for preparing consolidated reports to be submitted to the People's Committee at the district level and proposing solutions to address existing issues (according to Model No. 04/BC-THKH).

2. Inspection: periodically or unexpectedly, the District Financial and Planning Office shall directly organize inspections or request the community investment supervision board to inspect, supervise, and evaluate investment projects managed by the People's Commune Council regarding capital usage, project progress, and compliance with state financial investment construction policies.

VII. RESPONSIBILITIES AND LIMITS OF RELATED AUTHORITIES.

1. Provincial and centrally-administered city People's Committees:

- Based on current regulations and specific local conditions, implement decentralization (or delegation) of approval decisions for investment projects to the Chairperson of the People's Commune Council.

- Direct the People's District Councils and functional agencies under their management to guide the People's Commune Councils in managing investment projects in accordance with state regulations and this Circular.

2. District People's Committee:

Implement state management over investment project management; direct functional agencies under their management to coordinate and assist the People's Commune Councils in managing investment construction projects according to current state regulations and this Circular.

3. District Financial and Planning Offices:

- Report on the implementation of investment plans as prescribed.

- Coordinate with functional agencies to guide and inspect Investors, State Treasury, and contractors on compliance with financial investment development systems and policies, capital management and usage, and investment capital payment situations to develop solutions for violations.

- Have the right to request the State Treasury and Investors to provide necessary documents and information for state financial investment development management, including annual investment capital planning documents, implementation and investment capital expenditure reporting documents according to reporting system regulations, and documents for audit of final investment capital settlement as prescribed.

- Audit final investment capital settlement reports for completed projects under the investment decision-making authority of the People's Commune Council (upon written request).

4. People's Commune Councils:

- Manage investment construction projects in accordance with investment construction project management regulations and related guiding documents from competent authorities. State have the authority.

- Approve investment projects and approve final investment capital settlement for completed projects within their delegated authority, in accordance with investment construction project management regulations.

- Organize the receipt and use of investment capital for intended purposes and target groups a) Receive and manage IDP data updated from Departments of Transport to synchronize with the IDP management information system;

- Implement investment capital reporting and final settlement procedures as prescribed.

5. Investors: 

- Fulfill rights and obligations as stipulated by current state regulations on investment management and construction as assigned. Adhere strictly to state laws on financial investment development management systems.

- Conduct quantity acceptance, prepare payment documentation, and request payment from contractors according to the timeframes specified in the contract.

- Bear responsibility for the accuracy and legality of the executed quantities, rates, unit prices, budgets for various tasks, quality of the works, and proposed payment values; ensure the accuracy, honesty, and legality of data and documents provided to the State Treasury and relevant state agencies.

- Timely and fully report to the investment decision-making authority and relevant state agencies as prescribed; provide sufficient documents, materials, and situations as required for the State Treasury and financial authorities to serve management and capital disbursement; be subject to inspection by the financial authority and the investment decision-making authority regarding the use of investment capital and compliance with the State's financial policies and regulations for development investment.

- Be entitled to request capital disbursement when all conditions are met and request the State Treasury to respond and explain any unsatisfactory contents in the control and disbursement of capital.

- Be responsible for preparing the final account report on completed construction project investment capitalto submit to the Investment Decision Maker for approval of the final account of the completed project investment capital (as stipulated in Section IV, Part II of this Circular). Within six months from the date of the final account approval decision, the Investor must complete the settlement of debts and finalize the investment account closure procedures at the capital disbursement agency.

6. Community Investment Oversight Board:

- Request the Investor, contractors to report, explain, and provide information to clarify issues that the community has opinions about.

- Compile community opinions, related state management agencies' opinions, reports from the Investor and contractors, propose solutions for issues that the community has opinions on, and recommend them to competent authorities for consideration and decision.

- Notify the community and relevant agencies of the decisions made by competent authorities regarding issues that the community has opinions on.

7. For contractors:

- Contractors are responsible for organizing their activities according to the signed contracts and legal provisions.  

- Jointly with the Investor to resolve remaining issues according to the signed contract. Fully and promptly refund the excess capital paid by the Investor compared to the approved final value.

8. State Treasury:

- Organize the implementation of capital disbursement control and disbursement in accordance with the State's prescribed regulations and this Circular; confirm the amount of disbursed capital, evaluate the disbursement situation; annually settle investment capital for each project according to the Government budget settlement regulations.

- Coordinate with the Investor to recover the excess capital paid to individuals and units compared to the approved final value; urge, guide, and coordinate with the Investor to resolve debts to complete the settlement and closure of accounts for projects that have been approved for final accounts.  

Part III

IMPLEMENTING PROVISIONS

This Circular takes effect fifteen days after its publication in the Official Gazette and replaces Circular No. 73/2007/TT-BTC dated July 2, 2007, issued by the Ministry of Finance guiding the management of investment capital from communal and town-level state budgets./.