Subject to this draft Regulation, which is circulated for public comments by the Finance Ministry in mid August, are the State budgets at all levels, budget-estimating units, units enjoying State budget supports, State enterprises and funds formed from people’s contributions.
The Regulation proposes five modes of publicization of financial data as follows:
- Publicization at annual meetings of agencies, organizations or units;
- Print form;
- Public posting up at head offices of agencies, organizations or units;
- Written notices;
- Posting on websites.
The State budgets at all levels are required to publicize the following financial data:
- Data in the annual estimates and settlements of the State budget, the central budget and the provincial/municipal budgets;
- Detailed data in the annual budget estimates and settlements of local administrations at all levels.
Budget-estimating units are required to disclose the distribution and use of annual budgets and the collection and use of contributions of organizations and individuals.
State enterprises would be required to disclose information on their financial status; production and business results; deduction, formation and use of various funds; incomes and average income of laborers; the State’s capital amounts contributed to other enterprises or organizations (if any) and their efficiency.
Lawfully set up funds which are formed from contributions of people and organizations should make public their operation regulations, conditions, criteria, interests and obligations of the funds’ beneficiaries; purposes of mobilization and use of the funds’ revenues; subjects and forms of mobilization; mobilization levels and results; use of the funds in the year; and annual financial settlements.
Organizations, units and individuals may raise questions on the publicized financial data and such questions and their answers should be also made public, according to the Regulation.-