Local State Treasuries focus on effective control of public budget

Local State Treasuries have high investment disbursement rate

The State Treasuries of provinces and localities make great effort to implement goals of effective fund management. Photo: Hanoi State Treasury.

According to the State Treasury, in 2023, the State Treasury of provinces and cities coordinated with local collection agencies to fully, promptly and accurately disburse revenues for all budget levels; regularly provide revenue data to competent agencies to serve budget collection management.

In addition, the State Treasury System has implemented solutions to promote the investment disbursement, promptly meeting the spending needs of budget-using units while still ensuring strict management of public expenditures in accordance with the provisions of law.

State Treasury units have complied with regulations on State budget accounting regimes and technical operations, fully, promptly and accurately disburse public revenues and expenditure, capital and funds. The quick, periodic and daily reports for state budget management by the leaders of the Government and the Ministry of Finance and relevant agencies is maintained in a high quality and timely manner.

In 2024, the State Treasury has directed local State Treasuries to effectively perform the tasks, including the requirement to continue expanding accounts at commercial banks; expanding the scope of areas requiring personal payments via bank accounts; developing an identification code systme of revenues that are not managed by the Tax and Customs agencies.

Many outstanding achievements in the State budget management in 2023 have been considered a solid premise for effective performance of this task in 2024. The leaders of the State Treasury of Ha City Noi said that it has assigned tasks to its subordinate units to estimate the revenue and expenditues in 2024 from the beggining of the year and closely control the public expenditures to ensure the demand of budget- using units in the area. The city treasury will also strictly follow directions of the Government, the Ministry of Finance, and the State Treasury on strengthening the management of revenue, expenditure savings, budget managmeent and prevention of late submission of documents withthout reason.

In 2023, the revenue collected via Hanoi State Treasury exceeded 16.2% of the assigned estimate; total state budget expenditure reached 80.2% of the estimate. Notably, the city Treasury expanded 27 accounts with joint stock commercial banks, increasing the number of electronic bilateral payment and collection accounts to 250 accounts, facilitating the payers. In addition, the Streasury always proactively cooperates with budget-using units, creating favorable conditions for units to make transactions and payments; and ensures 100% of payments made via online public services.

In 2024, Thanh Hoa State Treasury will focus on coordinating with the collection agencies to remit revenues to the State budget, contributing to complete the estimate of the province. The Treasury will effectively control the state budget expenditures and strictly comply with regulations on state budget expenditures associated with the implementation of the Law on Thrift Practices and Anti-Waste, and the Law on Anti-Corruption. In addtion, it will perform well the disbursement, accounting and payment. run the TABMIS system and payment system in smooth, stable, safe and effective manner.

The State Treasury of HCM City, the authority will closely Financial agencies to effectively control the revenue collection in the area to ensure fully and promptly collect arising reveneues; monitor and disburse local budget revenues; and expand the state budget collection network with commercial banks. By the end of 2023, the city’s revenue reached 96.43% of the estimate. It has implemented solutions to expedite the disbursement results of public investment capital in the City.

The city’s Streasury will continue to cooperately closely with local collection agencies to fully and promptly remit revenues to the state budget, and promptly resolve problems and difficulties to promote disbursement of public investment.

The 2024 plans of the local State Treasuries will focus on the state revenue collection. The economy in the year is forecast to still face many difficulties. The local State Treasuries identify public investment as an important driving force to foster economic growth, so they will effectively control expenditures, prepare sufficient capital for payment and ensure construction capital, especially for key works and projects.