Decision No. 950-TC/HCSN stipulates the distribution and use of interest from loans from the National Fund for Employment Resolution under small projects, applicable from October 1, 1996. Interest is divided into three parts: to cover management costs, support guidance work and project implementation, and for other purposes at the Central level.
Scope of application
The National Employment Resolution Fund Management Agency, State Treasury, Chairmen of Provincial People's Committees, heads of mass organizations, and Central Mass Organizations Associations.
Key points
- 40% of the interest is allocated to cover management costs for lending, recovery of capital, and information reporting by the State Treasury system.
- 26% of the interest supports guidance, appraisal, organization of implementation, and project management at the grassroots level up to the small project steering committee at the district, provincial, and city levels.
- 34% of the interest is transferred to the Central level to establish a risk reserve fund, pay court fees, and support operating expenses of central management agencies of the program and mass organizations.
- Interest distribution is based on the amount of loan capital assigned for management within the jurisdiction.
- The Central State Treasury guides the State Treasury system to implement this decision and report on interest collection and distribution results.
🌐 Social impact of this document
- Positive impact: Enhances effective management and implementation of employment resolution projects.
- Negative impact: Increased management costs due to sharing a large portion of interest for other purposes.
❓ Frequently asked questions
How is interest from the National Fund for Employment Resolution distributed?
40% is allocated to cover management costs, 26% supports guidance work and project implementation, and 34% is transferred to the Central level to establish a risk reserve fund and for other purposes.
Which agency is responsible for distributing interest?
The Central State Treasury guides the State Treasury system to implement interest distribution according to this decision.
How is interest distributed quarterly?
Accounting records and interest distribution are carried out in accordance with regulations, with the interest transferred to the Central level to open accounts for tracking and transferring to beneficiary units.
What responsibilities do the National Employment Resolution Fund management agencies have?
Directing relevant departments to receive, manage, distribute, use, and settle accounts for funds supported by interest in accordance with current financial management regulations of the State.
When does this decision take effect?
This decision takes effect from October 1, 1996, replacing previous decisions.
Full text
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MINISTRY OF FINANCE |
SOCIALIST REPUBLIC OF VIETNAM |
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Number: 950-TC/HCSN |
Hanoi, October 17, 1996 |
Pursuant to …;
REGARDING THE DISTRIBUTION AND USE OF INTEREST FROM LOANS FROM THE NATIONAL FUND FOR JOB CREATION ACCORDING TO SMALL PROJECTS
THE MINISTER OF FINANCE
Pursuant to Resolution No. 120/HĐBT dated April 11, 1992 of the Council of Ministers (now the Government) on the policy, direction, and measures to address employment in the coming years;
Pursuant to Decree No. 15/CP dated March 2, 1993 of the Government on the authority and responsibility for state management of ministries and ministerial-level agencies.
After reaching consensus with the Ministry of Labor, Invalids and Social Affairs and the Ministry of Planning and Investment.
Pursuant to …;
Article 1. As of October 1, 1996, the distribution and use of interest from loans from the National Fund for Job Creation actually collected into the State Treasury shall be implemented as follows:
a) 40% shall be allocated to cover management costs for lending, recovery of loaned capital, and information reporting by the State Treasury system.
b) 26% shall be allocated to support guidance, appraisal, organization of implementation, and project management at local levels from grassroots level to small project management boards at district and provincial levels, including mass organizations and people's organizations that implement projects within their jurisdiction from central-level funds decided upon and borrowed through local channels.
c) 34% shall be transferred to the Central level via the Central State Treasury to be reserved for the following purposes:
- 30% shall be set aside for a risk reserve fund to be used for the following items:
+ To compensate for losses of loaned capital due to unforeseeable causes, which will be reviewed and handled by the Joint Ministries of Labor, Invalids and Social Affairs, Finance, and Planning and Investment for debt write-off.
+ To provide a bonus for public security agencies involved in debt collection. The unified rate of deduction is 5% of the total amount of principal recovered.
+ To pay court fees according to current regulations of the State.
+ The remaining portion after deducting the above expenses shall be supplemented to the national fund for job creation.
- 4% shall be allocated to support the operational costs of central-level management agencies and central-level organizations of mass organizations and departments that are allocated annual loan funding.
d) The distribution of interest as mentioned above shall be carried out quarterly. The Central State Treasury shall guide the State Treasuries to record accounting entries and distribute the collected interest according to the aforementioned regulations. For the interest transferred to the Central level, the Central State Treasury shall open accounts to monitor and transfer funds to the units entitled to receive them based on the decision of the Joint Ministries.
Article 2.
a) The distribution of management fees to the units entitled to receive them shall be carried out according to the principle of proportionality to the amount of capital lent under the projects they manage in their jurisdiction.
- At the provincial level, based on the management fee received as notified by the Provincial State Treasury, the Chairman of the People's Committee of the province shall issue a decision to distribute to the units entitled to receive (including projects of mass organizations, people's organizations, and departments implemented in the jurisdiction by the central-level organizations of mass organizations, people's organizations, and departments deciding to lend) according to the proposal of the Department of Labor, Invalids and Social Affairs - Department of Finance and Price Control - Department of Planning and Investment.
- At the Central level, based on the actual amount transferred as notified by the Central State Treasury, the Ministry of Labor, Invalids and Social Affairs shall issue a decision to distribute to the units according to the proposal of the Management Board of the National Fund for Job Creation established pursuant to Circular No. 10/TT-LB dated July 24, 1992 of the Joint Ministries of Labor, Invalids and Social Affairs, Finance, and Planning and Investment.
b) The management of the funds allocated from the interest collected at the unit level shall be carried out according to the regulations governing the allocation of funds from the state budget:
- For the funds distributed according to the decision of the Chairman of the People's Committee of the province, the unit shall settle accounts with the State Treasury (with the participation of the Department of Finance and Price Control). The State Treasury shall compile reports to the Ministry of Finance through the Central State Treasury.
- For funds distributed according to the decision of the Ministry of Labor, Invalids, and Social Affairs, the unit settles with the Ministry of Finance.
- For the funds distributed to the Provincial State Treasury, the Provincial State Treasury shall settle accounts with the Central State Treasury. The Central State Treasury shall compile and settle accounts with the Ministry of Finance.
The Ministry of Finance shall compile and settle accounts and report to the Joint Ministries.
Article 3. The Chairman of the People's Committee of the province (under the Central Government) and the heads of mass organizations and people's organizations at the Central level entrusted with the management of the National Fund for Job Creation shall direct relevant functional sectors to accept, manage, distribute, use, and settle accounts for the funds supported from interest at the State Treasury, in accordance with the current financial management regulations of the State and the provisions above, ensuring practical service for the appraisal, management, and recovery of project capital according to the guidelines of the Joint Ministries of Labor, Invalids and Social Affairs, Finance, and Planning and Investment.
Article 4. The Central State Treasury shall guide the State Treasury system to implement this decision; periodically (quarterly, semi-annually, and annually), it shall report to the Joint Ministries of Finance, Labor, Invalids and Social Affairs, and Planning and Investment on the results of interest collection and the situation of interest distribution according to the above regulations.
Article 5. This Decision shall take effect from October 1, 1996, and replace Decision No. 551/QĐ-TC/CĐTC dated June 27, 1994 of the Ministry of Finance. For the interest actually collected up to September 30, 1996, it shall be compiled separately and continue to be processed as stipulated in Decision No. 551/QĐ-TC/CĐTC dated June 27, 1994.
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Nguyen Sinh Hung (Signed) |
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