Bản dịch văn bản 42/2000/TT-BTC
thong-tu-42-2000-tt-btc
Cơ quan ban hành: Bộ Tài chính
Ngày ban hành: 2000-05-23

CIRCULAR No CIRCULAR No. 42/2000/TT-BTC OF MAY 23, 2000 GUIDING THE IMPLEMENTATION OF THE REGULATION ON FINANCIAL MANAGEMENT OF THE DEVELOPMENT ASSISTANCE FUND In furtherance of the Prime Minister�s Decision No. 32/1999/QD-TTg of December 17, 1999 promulgating the Regulation on financial management of the Development Assistance Fund, the Ministry of Finance hereby provides detailed guidance as follows: I. GENERAL PROVISIONS 1. This Circular applies to the system of development assistance funds, including: the Central Development Assistance Fund; the Development Assistance Fund�s branches in the provinces and centrally-run cities; the Development Assistance Fund�s transaction offices at home and abroad. 2. The Development Assistance Fund shall have its charter capital and post-investment interest rate support capital allocated, and interest rate difference subsidized, by the State, and be entitled to mobilize medium- and long-term capital sources to provide investment loans, post-investment interest rate supports and credit guarantees strictly according to the State�s regulations. 3. The Development Assistance Fund shall have to refund the capital and cover its expenditure, be exempt from taxes and other State budget remittances. 4. The Development Assistance Fund is an unit with concentrated cost-accounting within its entire system, and is entitled to use its revenues to defray expenditures arising in the course of operation, and distribute its financial revenue-expenditure difference strictly according to the provisions of this Circular. 5. The Chairman of the Management Council and the General Director of the Development Assistance Fund shall be answerable to the Government for the safe management of the Fund�s capital and assets and the use of its capital for right purposes and with efficiency. 6. The Ministry of Finance shall perform the function of State management over financial matters and have to guide and inspect the Fund�s financial revenues and expenditures. II. PROVISIONS ON CAPITAL AND ASSETS 1. The Development Assistance Fund�s operating capital includes: 1.1. Capital under the State ownership: - Its charter capital of 3,000 billion VND is formed from: + The charter capital received from the National Investment Assistance Fund, which had been allocated thereto by the State budget and the State�s assets handed over from the system of the Investment and Development General Department; + The annual additional allocations from the State budget till its charter capital reaches the said level; When there is a need to change the charter capital level, the Chairman of the Development Assistance Fund�s Management Council shall propose the Finance Minister to submit it to the Prime Minister for decision. - Capital annually allocated by the State budget for purpose of increasing the source of investment loan capital. 1.2. Mobilized capital: - Borrowings from the Accumulation Fund for Foreign Debt Repayment, the Postal Saving Fund and temporarily idle capital source of the Vietnam Social Insurance; - Medium- and long-term borrowings from economic organizations, credit institutions, banks and other organizations at home; - It shall be entitled to mobilize other capital sources according to current law provisions. 1.3. Capital being recovered principals of domestic loans. 1.4. Capital from the issuance of Government bonds. 1.5. The Government�s foreign loans and/or foreign aids to be sub-lent to development investment projects under the Finance Minister�s authorization. 1.6. Capital entrusted by local investment funds, development investment funds and/or organizations at home or abroad to be lent or allocated under entrustment contracts. 1.7. Capital allocated by the State budget to be provided as post-investment interest rate supports. 1.8. Other capital sources. 2. The Ministry of Finance shall effect the allocation of capital under the State ownership and allocate annual additional capital for investment targets. The Finance Minister shall allocate capital to the Development Assistance Fund. The capital recipients shall be the Chairman of the Management Council and the General Director of the Development Assistance Fund. The Finance Ministry shall make the additional allocation of charter capital and capital for targets of the Development Assistance Fund under plans assigned by the Prime Minister. 3. Annually, the Development Assistance Fund shall have to balance its State development investment credit capital sources and the demands therefor; and make the planning of mobilized capital sources. The mobilization of capital sources with high interest rates for providing investment loans must ensure the principle that such mobilization shall be made only after making the fullest use of non-interest or low-interest mobilized capital sources. When performing the investment credit tasks assigned by the State, the Development Assistance Fund shall have the interest rate difference subsidized by the State. The interest rate difference subsidization shall comply with the Finance Ministry�s guidance. When conducting the sub-lending of official development assistance (ODA) capital, the Development Assistance Fund shall enjoy sub-lending charges according to provisions of the Prime Minister�s Decision No.232/1999/QD-TTg of December 17, 1999 and specific guidance in the Finance Minister�s Decision No.02/2000/QD-BTC of January 6, 2000 promulgating the Regulation on sub-lending of the Government�s foreign loans and aids. 4. The Development Assistance Fund may change the structure of capital and assets within the whole system in service of the development of its activities. 5. The repayment of the Development Assistance Fund�s capital shall strictly comply with the provisions of Article 12 of the Regulation on financial management of the Development Assistance Fund promulgated together with the Prime Minister�s Decision No.232/1999/QD-TTg of December 17, 1999. 6. Capital for investment in capital construction and fixed asset procurement: 6.1. The Development Assistance Fund�s capital for investment in capital construction and fixed asset procurement shall be formed from the following sources: - Its available charter capital; - The State budget�s allocations (if any); - Fixed asset depreciation; - Development investment fund and other lawful sources according to the State�s regulations; 6.2. The whole work of capital construction and fixed asset procurement of the Development Assistance Fund shall be undertaken within the capital source approved in the financial plan by the Management Council and according to the State�s regulations. The Development Assistance Fund�s total investment in capital construction and fixed asset procurement must not exceed 50% of its available charter capital. Basing itself on the Fund�s practical operation situation, the Finance Ministry shall prescribe such percentage suitable to each period. 7. Inventory and revaluation of assets: 7.1. The Development Assistance Fund shall have to conduct the inventory and/or revaluation of its assets in the following cases: - Asset inventory and revaluation under decisions of the competent State agency(ies). - Recovery of mortgaged assets when the investors fail to repay debts. - Asset liquidation, assignment and/or sale. 7.2. The asset inventory and revaluation must strictly comply with the current regulations applicable to the State enterprises. Increase or decrease difference amounts arising due to asset revaluation (other than recovered mortgaged assets when the investors fail to repay debts, and assets formed from the Fund�s borrowed capital) shall be accounted as increase or decrease of the Development Assistance Fund�s capital as for State enterprises. 8. For cases of losses to its assets, the Development Assistance Fund shall have to verify reasons therefor and settle them as follows: 8.1. If the assets are lost due to faults of collectives and/or individuals, such collectives and/or individuals shall have to make compensations therefor according to law provisions. 8.2. The loss of assets for which insurance has been purchased shall be settled according to the insurance contracts. 8.3. The value of a loss, after being compensated by money of individual(s) and/or collective(s) that have caused it or the concerned insurance organization, shall be made up for by operation risk reserve fund (set up from financial revenue-expenditure balance) if such compensation is insufficient. 9. The fixed asset depreciation of the Development Assistance Fund shall be made as for State enterprises and after the Finance Ministry�s consent is obtained. 10. The Development Assistance Fund shall be entitled to lease assets under its management on principles of efficiency, capital preservation and development according to provisions of the Civil Code and other law provisions. The lease of working offices shall be decided by the Management Council at the proposal of the Development Assistance Fund�s General Director. 11. The Development Assistance Fund is entitled to liquidate, assign or sell poor-quality, degenerated or irreparably damaged assets, technically obsolete assets which are not needed for use or used inefficiently. The Development Assistance Fund�s Management Council shall decide the liquidation, assignment or sale of working offices, then report it to the Finance Ministry. When liquidating its assets, the Development Assistance Fund shall conduct the valuation and organize the auction thereof according to law provisions. The difference between the proceeds from the liquidation, assignment or sale of assets and their remaining value reflected on accounting books plus expenses for such liquidation, assignment or sale (if any), shall be accounted into the Development Assistance Fund�s revenues. III. DEDUCTIONS FOR SETTING UP RISK RESERVES AND RISK OFFSET 1. The Development Assistance Fund shall be entitled to account into its expenditures the reserves for exchange rate risks arising in the operation course according to the current regulations. Particularly, the exchange rate difference arising in activities of sub-lending ODA capital source shall not be accounted into its revenues and expenditures; the accounting of such amounts shall comply with specific guidance of the Finance Ministry. 2. Risk reserve fund: 2.1. The Development Assistance Fund is entitled to set up risk reserve fund to make up for losses incurred due to objective reasons in the course of providing loans to development investment projects under the State�s plans. 2.2. The level of annual deductions for setting up risk reserve fund shall represent 2% of the total interest amount collected in the year from projects that borrow investment capital from the Development Assistance Fund, and shall be accounted into operation expenses. The deduction for setting up the risk reserve fund shall be carried out according to the following procedures: - At the end of each quarter, basing itself on the interest amount collected in the quarter, the Development Assistance Fund shall temporarily deduct a part therefrom for the risk reserve fund and account it into its operation expenses. The temporary deduction level shall be equal to 2% of the interest amount collected in the quarter. - At the end of each fiscal year, before closing its accounting books, the Development Assistance Fund shall re-calculate the risk reserve fund�s deduction amounts made in the whole year and make the readjustment thereof as follows: + If the temporarily deducted amounts are smaller than the allowed deduction amount for the whole year, the Development Assistance Fund shall make supplementary deduction to fill the deficit and account it into its operation expenses; + If the temporarily deducted amounts are larger than the allowed deduction amount for the whole year, the Development Assistance Fund shall reduce its operation expenses by a level equal to the over-deducted amount. 3. The risk reserve fund shall be used in the following cases: - Debt remission for projects that have been struck with such force majeure circumstances as: loss due to natural disasters, fire, etc. After using loss indemnity paid by the insurance agency (if any) to diminish such loss, the Development Assistance Fund shall base itself on the Prime Minister�s decision on the debt remission to deduct from the risk reserve fund an amount equal to the deficit in the debt principal. - Use of the risk reserve fund to make up for losses incurred due to objective reasons arising in the whole system. 4. The deduction for setting up the risk reserve fund shall be made at the branches, then transferred to the Central Fund for concentrated management. The Development Assistance Fund shall have to manage and use the risk reserve fund for the right purpose. At the end of each year, if the risk reserve fund is not used up, its balance shall be carried forward to the next year�s risk reserve fund. In cases where the balance of the risk reserve fund is not enough to make up for the loss(es) arising in the year, the Development Assistance Fund�s Management Council shall report it to the Finance Ministry for submission to the Prime Minister for consideration and decision. IV. DEDUCTIONS FOR SETTING UP AND USE OF GUARANTEE RESERVE FUND 1. The Development Assistance Fund shall be entitled to set up the guarantee reserve fund to pay to credit institutions when the guaranteed investors fail to pay their debts on time. The maximum annual deduction level for the guarantee reserve fund shall be 5% of the total development investment credit capital of the State (excluding the sub-lent ODA capital). The annual specific deduction level shall be decided by the Chairman of the Management Council and incorporated in annual plans to be submitted to the Prime Minister for approval. The deduction for setting up the guarantee reserve fund shall be made only at the central level. The Development Assistance Fund�s branches and representative offices shall not be allowed to make deduction for the guarantee fund. 2. The regulation on investment credit guarantee shall be promulgated by the Development Assistance Fund�s Management Council according to the current law provisions. 3. At the end of each fiscal year, if the guarantee reserve fund is not used up, the whole of its balance shall be added to the loan capital source of the following year. In cases where the guarantee reserve fund is not enough to fulfill the guarantee obligation, the Development Assistance Fund�s Management Council shall report it to the Finance Minister, who shall submit the case to the Prime Minister for decision. V. ALLOCATION OF POST-INVESTMENT INTEREST RATE SUPPORT CAPITAL 1. By the end of September each year, basing itself on the socio-economic development orientations and plans of the ministries, the People�s Committees of the provinces and centrally-run cities and the concerned organizations, the Development Assistance Fund shall work out and send the plan on post-investment interest rate support to the Finance Ministry and the Ministry of Planning and Investment for its incorporation in the annual State budget plan to be submitted to the Prime Minister. 2. Annually, basing itself on the plan assigned by the Prime Minister and the list of investment projects for which the Development Assistance Fund has concluded post-investment interest rate support contracts, the Finance Ministry shall allocate the post-investment interest rate support capital to the Development Assistance Fund according to the implementation tempo and within the approved estimates. At the end of each year, the Development Assistance Fund shall have to make final settlement of post-investment interest rate support capital amount it has already received and the amount actually provided to the investors with the Finance Ministry. If the allocated capital amount is not yet used up at the end of the year, the unused part shall be offset against the post-investment interest rate support capital planned to be allocated in the following year. 3. The Development Assistance Fund shall have to manage and use the post-investment interest rate support capital sources in strict accordance with the regulations. It must not use the post-investment interest rate support capital for other purposes. VI. FINANCIAL REVENUES AND EXPENDITURES 1. The Development Assistance Fund�s revenues are all those arising from its professional operations and other services, including: 1.1. Revenues from professional operations: - Collected loan interests and fine interests from projects that borrow investment capital of the Development Assistance Fund (excluding loan interest from project using sub-lent ODA capital source); interest on fines against guaranteed projects that fail to repay debts on time, and the Development Assistance Fund is compelled to repay such debts on the former�s behalf; - Collected interests on the Development Assistance Fund�s deposits at the State Treasury and commercial banks; - Collected lending interests of temporarily idle capital; - Collected charges for guarantee services that are equal to 0.5%/year on the amounts it is guaranteeing for investors; - Collected charges for entrusted sub-lending under entrustment contracts; - Interest rate difference subsidies and management costs allocated by the State budget; - Revenues from payment, information and treasury services; - Revenues from other professional operations and services; 1.2. Revenues from financial activities: - Collected interests on the Government�s credit bills and bonds; - Collected charges for investment consultancy services; - Revenues from asset leasing activities; - Revenues from other financial services. 1.3. Revenues from extraordinary operations: - Collected fines; - Proceeds from liquidation, assignment and/or sale of assets of the Development Assistance Fund (after subtracting the remaining value and expenses for such liquidation, assignment and/or sale); - Difference arising from the revaluation of mortgaged assets when investors fail to repay debts, assets formed from the Fund�s borrowed capital; - Recovered debts which had already been written off; - Other irregular revenues. 2. Expenditures of the Development Assistance Fund are payable reasonable expenses arising in a given period, including: 2.1. Expenses for professional operations: - Payment of loan interests (excluding interests on loans of projects that use sub-lent ODA capital source); - Payment of bond interests; - Payment of deposit interests; - Capital mobilization expenses; - Payment service charges; - Investment entrustment charges; - Investment service charges; - Expenses for exchange rate risk reserves; - Deductions for setting up the risk reserve fund; - Other expenses for professional operations. 2.2. Management costs: - Payments to officials, public servants and employees of the Development Assistance Fund: + Wages and wage allowances according to the regime decided by the Prime Minister; + Social insurance and medical insurance premiums, contributions to trade union operating fund according to the regime prescribed by the State; + Mid-shift meal allowances: The per-head allowance level must not exceed the minimum wage level prescribed by the State for workers and employees; + Difficulty allowances as provided for by law; + Expenses for transaction dresses; + Allowances for the Management Council�s members on part-time job; + Expenses for labor protection means as prescribed; - Expenses for fixed asset depreciation - Expenses for managerial activities and public duties: + Expenses for procurement of working tools and office supplies; + Expenses for postal and communications charges, including: postage, charges for communications, telegraph, communications channel subscription, telex, facsimile, etc., that are paid according to invoices of post offices; The expenses for installation of telephones at private home of different subjects shall be paid according to the State�s current regulations. + Expenses for electricity, water, healthcare and office sanitation. + Expenses for petrol and oil for vehicles transporting officials, public servants and employees on working missions and the Fund�s leadership on working trips according to the regime prescribed by the State. + Working travel allowances for officials, public servants and employees on working trips at home or abroad, which are paid according to the Finance Ministry�s current regulations. + Expenses for propagation, press conferences, transactions, external affairs, conferences and meetings. + Expenses for inspection and examination of the Development Assistance Fund�s branches according to the prescribed regime. + Expenses for maintenance and repair of assets according to annual financial plans. + Expenses for professional training and drills, scientific and technological researches, technical innovations and improvements, such as: organization of professional, computer skill and foreign language training and fostering courses for officials, public servants and employees of the Development Assistance Fund; expenses for organization of symposiums; procurement, printing and translation of documents in service of professional training and fostering activities and research activities... + Expenses for treasury operations, loading-unloading and transportation activities. + Other managerial costs as prescribed. 2.3. Expenses for financial activities: - Expenses for purchase and sale of the Government�s bonds and credit bills; - Expenses for asset lease; 2.4. Irregular expenses: - Expenses for the recovery of already written off debts. - Expenses for collection of fines as prescribed. - Expenses for insurance for assets and other insurances as prescribed. - Expenses to cover the difference resulting from the revaluation of mortgaged assets when investors fail to repay debts and assets formed from the Fund�s borrowed capital; - Expenses paid in support of activities of the Party, mass organizations in the Development Assistance Fund according to the State�s regulations (excluding amounts in support of branch or local trade unions, social organizations and other agencies). - Other expenses actually arising and evidenced by valid vouchers. 3. The Development Assistance Fund shall not be allowed to account into its expenditures the following: Damage and losses which have been made up for by the State or compensated by the insurance agency or the damage-causing parties; - Payment of fines for administrative violations, violations of the environment legislation, fines for failure to pay due debts for subjective reasons, fines for violations of the financial regulations; - Expenses for capital construction investment, procurement, upgrading and renovation of fixed assets being part of the capital construction investment capital source; - Expenses for repair, maintenance and equipping of such public welfare assets as: dwelling houses and rest houses for officials, public servants and employees of the Development Assistance Fund; expenses for other welfare works; - Expenses as support for localities, social organizations and other agencies; - Expenses for working trips at home and abroad, which are in excess of the level prescribed by the State; - Expenses covered by other funding sources. VII. DISTRIBUTION OF INCOMES AND USE OF FUNDS 1. Distribution of incomes: Annual financial revenue-expenditure difference, after paying fines for violations of law provisions, shall be distributed as follows: - 10% shall be deducted for the operation risk reserve fund. This deduction level shall be maintained till this fund�s balance is equal to 25% of the charter capital; - A maximum of 50% shall be deducted for the development investment fund; - 5% shall be deducted for the severance reserve fund. This deduction level shall be maintained till this fund�s balance is equal to 6 months� wages actually paid by the Development Assistance Fund; - A certain part shall be deducted for the reward and welfare funds. The deduction level for these two funds shall comply with the regulations applicable to State enterprises. The proportion of these two funds shall be decided by the Management Council; - The remainder after the above-said parts are deducted to set up the said funds shall be added to the development investment fund. 2. The use purposes of the set up funds: 2.1. The operation risk reserve fund shall be used to make up for asset losses in cases where compensations therefor made by the liable individuals, collectives and/or insurance agencies are insufficient. 2.2. The development investment fund shall be used for investment in the renewal of technologies, facilities and equipment, improvement of working conditions, and additional support for the training to raise the professional skills and improve working conditions of the Fund�s personnel. 2.3. The severance reserve fund shall be used to pay allowances to laborers having worked for the Development Assistance Fund for one year or more, who have lost or in danger of losing their job due to termination of labor contracts according to law provisions; to cover expenses for professional and technical re-training of laborers in cases where technologies are altered or such laborers are transferred to other jobs; for training of alternative jobs for the Fund�s female laborers as well as fostering courses for officials and employees working at the Development Assistance Fund to raise their professional skills. 2.4. The reward fund shall be used to: - Give year-end rewards or regular rewards to officials and employees of the Development Assistance Fund. The reward levels shall be decided by the General Director at the proposal of the Trade Union Chairman on the basis of productivity and achievements of each official or employee working at the Development Assistance Fund. - Give irregular bonuses to the Development Assistance Fund�s individuals and collectives that have made technical innovations or professional process improvements that bring about efficiency. The bonus level shall be decided by the Fund�s General Director. - Give rewards to individuals and units outside the Development Assistance Fund that have relationship with it and well fulfilled the contractual terms, thus efficiently contributing to the Fund�s operations. The reward level shall be decided by the Chairman of the Fund�s Management Council. 2.5. The welfare fund shall be used to: - Invest in the construction or repair, add capital for the construction of welfare works of the Development Assistance Fund, contribute capital to the investment in construction of common welfare works of the branch or to other units under contracts and agreements. - Cover expenses for sport, cultural and public welfare activities of the collective of officials and employees of the Development Assistance Fund. - Make contributions to social welfare fund(s). - Pay regular and irregular difficulty allowances to officials and employees of the Development Assistance Fund. - Cover expenses for other welfare activities. The Development Assistance Fund�s General Director shall coordinate with the Executive Committee of the Fund�s Trade Union in managing and using this fund. VIII. ACCOUNTING AND STATISTICAL REGIME AND FINANCIAL PLANS 1. Annually, the Development Assistance Fund shall have to work out and report to the Finance Ministry the following plans: 1.1. Plans on capital and capital use: - An annual plan on capital shall include: + Charter capital additionally allocated by the State budget; + Capital allocated by the State budget to such targets as: increase of investment loan source, post-investment interest rate support capital; + Plan for interest rate difference subsidies; + Performance of guarantee obligation (if any); + Capital being recovered debts; + Capital mobilized from each source; + Other capital - Capital use plan: Such a plan deals with the total development investment credit capital to be provided by the State in the following forms of assistance: investment loans, post-investment interest rate supports, investment credit guarantees and those provided according to the structure of branches, domains or geographical areas; and plan for repayment of mobilized capital sources. 1.2. Plan for interest rate difference subsidies 1.3. Plan for investment in capital construction: Such a plan shall be enclosed with detailed explanation on projected capital construction, fixed asset procurement and balance of capital sources. 1.4. Financial revenue-expenditure plan: Such a plan shall be enclosed with detailed explanation on revenue and expenditure breakdowns as well as specific spending norms. 1.5. Payroll and wage fund plan The above-said plans shall, after being approved, serve as basis for the Development Assistance Fund, to make the financial settlement to be approved by the finance agency. For the first 5 years after its establishment, the Development Assistance Fund may effect its spending according to the financial plans adopted by the Management Council and approved by the Finance Ministry. In cases where its revenues are not enough to cover its expenditures, the Development Assistance Fund shall report such to the Finance Ministry for solution according to the latter�s competence. 2. Periodically (monthly, quarterly, annually), the Development Assistance Fund shall have to make and send the following financial reports to the Finance Ministry: 2.1. By the 20 th day every month, the Development Assistance Fund shall make and send to the Finance Minister a quick report on the operation of the entire fund system according to the provisions of Article 11 of the Government�s Decree No.50/1999/ND-CP of July 8, 1999 on organization and operation of the Development Assistance Fund. 2.2. The quarterly report shall be sent on the 25 th of the first month of the following quarter at the latest, including: - Financial revenue-expenditure report; - Report on lending of the State�s investment credit capital; - Report on investment credit guarantee; - Report on investment loans from entrusted capital; - Accounting balance sheet; - Report on situation of the risk reserve fund; - Financial report explanation; - Report on situation of loan provision to and debt recovery, from projects of ministries and branches; - Report on situation of loan provision to and debt recovery, from projects in localities; 2.3. From the end of each accounting year till March 30 th of the following year, the Development Assistance Fund shall make and send final settlement report to the Finance Ministry, comprising: - Accounting balance sheet; - Final settlement report on financial revenue-expenditure; - Report on final settlement of the State�s investment credit loans; - Report on final settlement of investment credit guarantees; - Report on final settlement of allocated post-investment interest rate support capital (form No. B 05-TK-A); - Report on final settlement of investment loans from entrusted capital source; - Report on the use of the risk reserve fund; - Financial report explanation. The Development Assistance Fund�s annual final settlement reports must be approved by the Chairman of the Fund�s Management Council after being certified by the Fund�s Control Board. 3. The Development Assistance Fund shall submit to the Finance Ministry�s financial inspections, including: - Regular or irregular inspection of accounting reports and final settlement reports. - Inspection upon each specialized subject and each requirement of the financial management work. IX. ORGANIZATION OF IMPLEMENTATION 1. The Development Assistance Fund shall have to guide its attached units to implement the financial regime strictly according to provisions of the Regulation on financial management of the Development Assistance Fund promulgated by the Prime Minister and guidance in this Circular. 2. This Circular takes effect as from January 1 st , 2000. Any problems arising in the course of implementation should be reported by the Development Assistance Fund to the Finance Ministry for study and solution. For the Finance Minister Vice Minister LE THI BANG TAM\