Five-year financial plan made and examined
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This regulation stipulates the tasks of the People's Committee in organizing and establishing Boards under the People’s Council for review and verification. The Standing People's Council decides or gives comments on the reports to submit to the People's Council for decision: Local five-year financial plan; Local five–year medium-term public investment plan, annual local budget estimates and allocation; principles, criteria and norm of local budget allocation; the percentage (%) of the distribution of revenues between the budgets of the local authority levels; adjustment for local five-year financial plan, local five–year medium-term public investment plan, annual local budget estimates; and approval of local budget settlement; and collection of charges and fees under the competence of the provincial-level People's Councils and the contributions from citizens according to the law; and budget expenditures for a number of tasks with specific nature in localities apart from the regimes, criteria and norms of budget expenditures promulgated by the Government, the Prime Minister and the Finance Minister.
Submitting to the People’s Council to consult the three-year State budget and financial plan when considering and deciding the estimates and allocation of local budgets.
Presenting the People’s Committee to decide the allocation and use of surplus revenues and save the expenditures of local budget.
Regulations on establishment, verification, consideration and decision
The Decree requires that the establishment, verification, review and decision should be unified and consistent with the local five-year financial plan, local five–year medium-term public investment plan, local three-year State budget and financial plan, annual local budget estimates, annual local budget allocations and annual local budget settlements.
The local State budget and financial plan and the local budget estimates ensure a steady budget balance towards balancing the budget revenues and expenditures; the local budget allocations should focus on key tasks of socio-economic development; and the local budget settlements must be accurate, sufficient and effective; and budgets at district and commune levels are not allowed to decide the budget expenditures more than budget revenues.
The establishment, verification, review and decision of the local five-year finance plan; local five–year medium-term public investment plan; principles, criteria and norms of local budget allocations, and the percentage (%) of the distribution of revenues between the budgets of local authority levels; annual budget estimates and allocations; adjustment for local five-year financial plan, local five–year medium-term public investment plan, annual local budget estimates; and approval of local budget settlement must abide by the regulations on balancing principles, budget management, decentralization of revenue and expenditure management and relationship between budget levels, content, order, mode, time and competence of Law on State Budget, Law on Public Investment, Law on the organization of local government and provisions of this regulation.
The Decree also stipulates: in the first years local budget stability period, the People’s Committees make the five-year financial plan and five–year medium-term public investment plan. And the People’s Committees must make three-year State budget- financial plans every year to submit to the People’s Councils for consultation when considering and deciding the estimates and allocations of local budgets.
The Government issues specific regulations on financial reports VCN- The Government has just issued Decree No. 25/2017/ND-CP on State financial reports, which stipulates contents of ... |
Annually, the People’s Committees at all level should make estimates of State budget revenues in the localities (district level and commune level must make State budget estimates for revenues decentralized for management), the estimates of local budget revenues and expenditures (for district level including budget of its level and its junior levels).
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