State Treasury urgently prepares pilot state financial report

	State treasury raises VND5.9 trillion from government bonds
	The State Treasury accepts payment for State budget through Vietinbank POS machines
	The State Treasury: Disbursement of capital construction investment reaches a high rate

Operations at Quang Ninh State treasury. Photo: Thuy Linh

Earlier, the Government issued Decree No. 25/2017 / ND-CP specifying the scope, contents, rights, and responsibility of making state financial reports and providing information for state financial reporting.

In order to well implement Decree 25, the State Treasury has been finalizing the draft circular to guide units to make state financial reports and provide information (Ministry of Finance, the State treasuries at the central and local levels and management agencies of state budget, state assets and capital at all levels; other information providers for state financial reporting).

According to the State Treasury, state financial reporting is a complex task which requires specialized knowledge and covers diverse scope and objects. Moreover, the first state financial report is carried out in accordance with international practices and standards in public accounting, so the State treasury has oriented to stipulate basic contents to ensure the feasibility in the circular and will study to finalize the circular after first years of state financial reporting.

Firstly, State treasury directly conducts a survey and learns experience and holds conferences to consult relevant units, organization, and individuals. The circular is expected to be submitted to the Ministry of Finance to be promulgated at the end of 2017. In addition, according to the State Treasury, the state financial reporting also requires the improvement of accounting organization at State treasuries at the central and local levels. Therefore, in addition to restructuring the organization, redefining functions, tasks and powers, the State Treasury has transformed the State Accounting Department into State Accounting Authority, including state financial report division which is in charge of organizing and performing the state general accounting at the State treasury at the central level. At provinces, the State Treasuries have also assigned the task of state general accounting to their accounting division.

State Treasury: Strict control of recurrent expenditure estimates VCN - In the first half of 2017, the State Treasury system succeeded its assigned tasks, contributing ...

It is expected that in mid-2018, the state financial reporting will be piloted. Selected objects are some estimated units at level 1 at the central level and local level; some management agencies state revenues and expenditures, state capital, and assets and specialized big districts and provinces.