It was learned from Chenzhou Finance Bureau that “temporal measure for management of Chenzhou municipal level specific financial funds”(short for “the measure”) was issued recently. Details concerned for the set up, adjustment, revocation, performance, performance evaluation, and supervision of Chenzhou municipal level specific financial funds were specified in“the measure”.

The allocation and usage procedure of specific financial funds were perfected in“the measure”. It required that before the allocation of specific financial funds, the usage range, application condition and procedure should be published publicly and the projects should be collected publicly as well. The competent department of specific financial funds and Chenzhou municipal finance department would carry out the first review and recheck of all the submissions. The projects units should submit the performance targets when they submit the application of projects. All the projects covered with over one million yuan funds should follow the joint review by the evaluation group which was formed by experts organized by competent department of specific financial departments and Chenzhou municipal finance department or by the qualified social agencies. Once approved by Chenzhou Municipal Party Committee and Chenzhou Government, the allocation plan should be published in the web portals of Chenzhou Government or “Chenzhou Daily”.

“The measure”figured out some innovative supporting systems for the specific financial funds. It confirmed the 60%-80% part of municipal level industrial guidance funds and undertaking industrial funds should be used for supporting the key industrial projects. Concerned for the amounts, principally speaking, industry projects, modern service projects, agriculture projects and cultural projects were with over one million yuan, 0.5million yuan, 0.5million yuan and 0.3million yuan respectively. Loans with discount interest, policy subsides, tax payment rewards, equity investment, and etc. were carried out for the enterprises.

As required by “the measure”, performance evaluation and specific auditing system should be held for the specific financial funds. Once the projects with the specific financial funds finished, the municipal competent department of specific financial funds should handle a self performance evaluation for the management of funds, target attainment, efficiency of usage of funds, and etc. Chenzhou municipal finance department should carry out the performance evaluation on the basis of the competent department’s self performance evaluation and submit the results to Chenzhou Government. All the results would be kept as important terms for future allocation of specific funds. Chenzhou auditing departments should take special auditing work for the key projects covered with over one million yuan specific financial funds.