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Agency Payment with the Central Special-purpose Funds

Overview
The Agency Payment with the Central Special-purpose Funds is a type of agency service provided by ABC for the reform of rural compulsory education funds guarantee mechanism and for the reform of other central special-purpose funds payment. When the special-purpose funds borne by the central fiscal authority are disbursed by the Ministry of Finance (MOF), ABC then makes a payment directly for the provincial and county fiscal authorities.

Features
This service enables the appropriation of central special-purpose funds and the reporting of the payment information, and satisfies the needs of the MOF to allocate funds appropriately, to transfer funds timely and to have a dynamic monitoring of the accounts of central special-purpose funds for the provincial and county fiscal authorities.

Procedures
1. Direct payment by the provincial fiscal authorities
·The provincial fiscal authority allocates the budgets of the central special-purpose funds among the counties in the province within 25 working days upon receiving the budgetary documents, and transfers the funds directly from the zero balance account for central special-purpose funds to the special accounts for central special-purpose funds opened by the county fiscal authorities within five working days after allocation of the budget.
·Upon receiving the application for payment to the county fiscal authorities, ABC sends the Direct Fiscal Payment Voucher to the treasury department of the provincial fiscal authority on the same day, and within two working days sends the Notice on the Recording of Direct Payment by Provincial Fiscal Authority of Central Special-purpose Funds to the treasury department of the prefecture or municipal fiscal authority as the original evidences for receiving and payment of central special-purpose funds.
2. Payment by the county fiscal authorities
Upon receiving the budgetary documents of the central special-purpose funds, the county fiscal authority allocates the budget among the education authority of the county level or the schools, and then makes a direct payment through the special account for central special-purpose funds based on the types of payment for central special-purpose funds. In particular,
·the funds shall be paid directly to the payee in the case of procurement of large projects, bulk commodities, and services.
·the funds shall be paid directly to the accounts of schools or other relevant accounts for school budgets as determined by the county fiscal and education authorities in the case of other expenditures including routine, occasional and contingent expenditures.

Note: Please contact your local branch for detailed information about the service.

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