Financial revenue and expenditure disclosure requirements for educational institutions effective July 19, 2024

The Minister of the Ministry of Education and Training (MOET) issued Circular 09/2024/TT-BGDĐT dated June 3, 2024, regulating disclosure in the operations of educational institutions within the national education system. The Circular takes effect on July 19, 2024, replacing Circular 36/2017/TT-BGDĐT.

Specifically, educational institutions must disclose the following information on financial revenue and expenditure:

– The financial position of the educational institution in the fiscal year immediately preceding the reporting date, as required by law, including the following breakdown of operating revenue and expenditure:

+ Revenue classified by funding source (state budget, investor support; tuition, fees and other payments from learners; sponsorship funding and contracts with external parties; other revenue sources) and type of activity (education and training; science and technology; other activities);

+ Expenditure classified by: salaries and income (salaries, allowances, supplementary salaries and other salary-related payments to teachers, lecturers, administrators, employees, etc.); facilities and services (procurement, repairs, maintenance and operation of facilities and equipment, and contracting of services directly supporting education, training, research, workforce development, etc.); support for learners (scholarships, allowances, assistance with living expenses, organized activities, emulation campaigns, awards, etc.); and other expenditure.

– Charges and rates applicable to learners, including tuition, fees, and all charges and rates other than tuition and fees (if any) for the academic year, as well as projected charges and rates for each subsequent academic year of the educational level or course offered by the educational institution, to be disclosed before admissions open and applications are submitted.

– Policies and annual results of implementing policies on allowances, tuition exemptions and reductions, and scholarships for learners.

– Fund balances as prescribed by regulations, including special-purpose funds (if any).

– Other financial disclosures as required by laws on finance, budgets, accounting, auditing and grassroots democracy.

This is an automated translation. If you notice any errors, please contact the Department of Communications, National Economics University at phongtruyenthong@neu.edu.vn.