State financial statements (SFS) are consolidated financial statements including reports on the state financial situation used to reflect all information on assets; liabilities; state capital sources; reports on state financial performance results which reflect the state's income, expenses and financial performance results and cash flow reports including cash inflows and cash outflows from key activities, investment activities and financial activities in the reporting period nationwide or provincially at the end of the reporting period.
Synthesizing the State Treasury's financial statements is one of the important tasks of the State Treasury sector. Implemented since 2018, the Quang Tri State Treasury has always done well in the implementation, reception, data synthesis and situation analysis stages, effectively advising local authorities on the state financial situation in the province. Every year, it always proactively issues 5-7 documents to implement, urge and coordinate, especially always coordinate in writing with financial agencies in appraising data related to the state budget, outstanding loans, payable debts, advances to be recovered, etc.
Based on the synthesis of reports from nearly 800 level 1 budget units and agencies managing state budget revenue and expenditure, assets, and state capital sources (management agencies) at the provincial level, the annual State Financial Statements have fully covered the situation of state assets and sources of state assets formation; transparently reflecting the results of state financial activities, cash flow activities, actual cash flows and state budget fund expenditures according to the revenue and expenditure contents in the reporting year. The financial statements have fully reflected the state financial situation originating from the Quang Tri provincial state budget or managed by the province, contributing to supporting the management and operation of local budgets. The annual provincial State Financial Statements are implemented from April and end in October of the following year, always on time, ahead of schedule and achieving high quality.
The implementation process has always received very active coordination from units responsible for preparing the State Financial Statements, of which over 95% of units have effectively coordinated with the State Treasury at all levels in the province; information, data, and reports are always sent promptly, urgently and accurately. In particular, from the 2022 reporting year, commune budget units and other accounting units such as project management boards ... do not have to send manually as before but directly enter data and transfer to the state general accounting program.
The units have fully analyzed and explained the situation of asset fluctuations and data fluctuations, helping the provincial-level financial statements to always be completed earlier than the regulations, ensuring that the data are correct. There has never been any need to apply penalties or suspend state budget expenditures according to the provisions of Decree No. 25/2017/ND-CP dated March 14, 2017 of the Government on financial statements. The annual financial statements show that the average surplus (revenue minus expenses) for the 5 years from 2018-2022 is 4,256 billion VND.
Although there are still some difficulties and problems, we believe that with the effective cooperation of the units, the improvement of procedures, professional regulations and technology, the work of synthesizing the State Audit Report in 2023 will take place more smoothly, promptly and accurately. The State Treasury of Quang Tri always hopes to continue to receive close attention and direction from local authorities at all levels, and the active coordination of agencies and units responsible for providing the State Audit Report in the whole province.
Thanh Huong - Phuoc Linh
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