Final accounts are the final comprehensive reflection of the implementation of the annual budget, and also the concentrated reflection of the implementation results of the national economic and social development plan in the fiscal revenue and expenditure in the past year. According to the provisions of the budget law, the power to examine and approve the final accounts of the central and local governments belongs to the Standing Committee of the National People's Congress at the corresponding level. The examination and approval of the final accounts by the Standing Committee is essentially to supervise the final results of the annual budget implementation.
Article 15 of the Supervision Law stipulates that the State Council shall submit the draft final accounts of the previous year to the NPC Standing Committee for review and approval every June. The local people's governments at or above the county level shall submit the draft final accounts of the previous year to the Standing Committee of the people's congress at the corresponding level for examination and approval from June to September every year. The draft final accounts shall be compiled according to the subjects listed in the budget approved by the people's congress at the corresponding level, and listed separately according to the budget number, adjustment number or change number and actual implementation, and an explanation shall be made. The National People's Congress Standing Committee (NPCSC)'s "Decision on Strengthening the Examination and Supervision of the Central Budget" also stipulates that the draft final accounts of the central government should be submitted to the Financial and Economic Committee for examination and approval one month before the the National People's Congress Standing Committee (NPCSC) meeting, and the Financial and Economic Committee will conduct a preliminary examination in combination with the audit report.
The preparation of the draft final accounts must abide by laws and administrative regulations, so as to ensure accurate revenue and expenditure, complete content and timely submission. The fundamental purpose of NPC Standing Committee's examination and approval of final accounts is to ensure the truthfulness, accuracy and completeness of budget revenue and expenditure, and provide a reliable basis for future budget revenue and expenditure management.
When the Standing Committee holds a meeting, the NPC Financial and Economic Committee shall submit a review report on the final accounts of the previous year. The main contents are as follows: (1) Overall evaluation and suggestions on whether to approve the draft government final accounts; (2) The main problems in budget implementation; (3) Suggestions on budget work. The review report of the Financial and Economic Committee, together with the final accounts of the government and relevant reports, shall be deliberated by the members of the Standing Committee. The relevant resolutions finally made by the Standing Committee generally agreed with the review report of the Financial and Economic Committee, decided to approve the final accounts of the government, and put forward some requirements.
2. Listen to and consider the semi-annual budget implementation report.
Article 16 of the Supervision Law stipulates that the State Council and local people's supervision governments at or above the county level shall report the budget implementation of the previous stage to the Standing Committee of the people's congress at the corresponding level from June to September every year. According to the working practice, the government usually reports the implementation of the budget at the corresponding level at the same time as the draft final accounts and final accounts report of the previous year. The report on the implementation of the budget of the previous year is generally submitted by the government together with the draft budget and budget report of that year, and reviewed and approved by the people's congress in accordance with the relevant provisions of the Constitution.
The working procedures and steps for hearing and deliberating the semi-annual budget implementation report are generally: (1) preliminary investigation. Some time before the report, the Financial and Economic Committee and the Budget Working Committee sought information, information and opinions from the government's finance, taxation, customs and other relevant departments. Sometimes a forum will be held to invite relevant units and experts to participate, and analyze and study the situation and problems faced by economic and social development, especially the budget revenue and expenditure. On the basis of investigation and study, a number of briefings and background materials have been formed to provide necessary reference for the deliberation of the Standing Committee. (2) Listen to and consider the report. The Standing Committee held a plenary meeting to listen to the semi-annual budget implementation report made by the person in charge of the government financial department entrusted by the government; The Standing Committee shall consider this report in the form of group meetings or joint meetings when necessary. When the Standing Committee deliberates the report, the relevant departments and working institutions shall send personnel familiar with the situation to the meeting to listen to opinions, and explain the situation and answer inquiries according to the requirements of the members of the Standing Committee. (3) The speeches made by the members of the Standing Committee during the deliberation of the report shall be truthfully recorded by the staff of the working organization, sent to the spokesman for verification, and compiled and issued a briefing; The important progress and deliberation opinions in the deliberation should be compiled into a special report and submitted to the leadership of the Standing Committee. The deliberation opinions of the members of the Standing Committee on the report shall be submitted to the government for study and handling; The government shall promptly report the research and handling to the Standing Committee in writing.
According to the provisions of the second paragraph of Article 20 of the Supervision Law, the report on the budget implementation and deliberation opinions heard by the Standing Committee, and the report on the research and handling of deliberation opinions or the implementation of resolutions by the people's government shall notify the deputies to the people's congresses at the corresponding levels and make it public.
3. Review and approve the budget adjustment plan
Budget adjustment means that the central budget approved by the National People's Congress and the budget approved by the local people's congress at the corresponding level need to increase expenditure or reduce income due to special circumstances, so that the total expenditure of the originally approved balanced budget exceeds the total income, or the amount of debt borrowed from the originally approved budget increases. Governments at all levels should formulate budget adjustment plans for necessary budget adjustments. The right to examine and approve the budget adjustment plan belongs to the NPC Standing Committee at the corresponding level. Without approval, the budget shall not be adjusted, and no decision shall be made to make the total expenditure of the original approved balanced budget exceed the total income or increase the amount of debts borrowed from the original approved budget.
Article 17 of the Supervision Law makes the following provisions on budget adjustment and related issues: (1) If the budget needs to be partially adjusted in the course of implementation after being approved by the people's congress, the State Council and local people's governments at or above the county level shall submit the adjustment plan to the Standing Committee of the people's congress at the corresponding level for examination and approval. (2) Strictly control the transfer of funds between different budget subjects. The State Council and local people's governments at or above the county level need to reduce their budgets for agriculture, education, science and technology, culture, health and social security, and submit them to the Standing Committee of the people's congress at the corresponding level for examination and approval. (3) The relevant competent departments in the State Council and the local people's governments at or above the county level shall submit the preliminary budget adjustment plan to the Financial and Economic Committee of the people's congress at the corresponding level for preliminary examination one month before the Standing Committee of the people's congress at the corresponding level holds a meeting to review and approve the budget adjustment plan, or send it to the relevant working bodies of the Standing Committee for comments.
The financial department of the government shall promptly inform the NPC Financial and Economic Committee and the Budget Working Committee of the Standing Committee of the budget adjustment. The relevant working procedures and steps of budget adjustment supervision are basically the same as those of the above-mentioned final accounts and semi-annual budget implementation reports, and the focus of supervision is mainly on the necessity of adjustment and the feasibility of the plan.
References:
Supervision law