The Ministry of Finance's Hubei Regulatory Bureau is building a comprehensive and responsive regular supervision system for budget execution. Taking the opportunity of expanding dynamic monitoring of actual funds of central budget units, the bureau is coordinating various departmental budget oversight measures to achieve a supervision goal of efficient early warning, rapid feedback, timely correction, strong control and full coverage, aiming to enforce stricter financial discipline and ensure government agencies tighten their belts.
In terms of precise monitoring, the bureau started by solidifying the data foundation. It organized central departments included in the expansion to promptly submit information and cooperated with the Treasury Department to complete account verification, ensuring clear and accurate data. For new or changed actual fund accounts of budget units, the bureau updated ledgers and reported changes in a timely manner. Daily monitoring focused on both fund income and expenditure, paying close attention to recurrent problems such as non-peer-level fiscal appropriation income, unauthorized transfers, illegal purchase of wealth management products, large cash payments, unauthorized issuance of allowances and subsidies, and expenditures exceeding budgets. The bureau intensified verification of suspicious transactions and urged rectification. Payment records flagged by the system as "violations" or "suspicious" were prioritized, requiring budget units to provide payment vouchers and supporting materials for thorough verification of violations. Meanwhile, the bureau urged budget units to accurately, completely and standardly fill in information such as payer name, payee name, payment amount and purpose when handling actual fund transactions. The purpose field must not be left blank or filled with false information, to ensure the accuracy and effectiveness of monitoring data at the source.
To build a full-caliber monitoring system, Hubei Regulatory Bureau deepened linked account supervision. Relying on the departmental budget execution monitoring module of the central budget management integration system, it compared and analyzed expenditure data from zero-balance accounts and actual fund accounts, focusing on issues such as unauthorized transfers from zero-balance accounts to actual fund accounts and unauthorized adjustments of project funds. By using logical relationships and cross-verification of data, abnormal fund flows were accurately captured. Actual fund monitoring and zero-balance account monitoring complemented each other, breaking down data barriers between treasury centralized payment funds and unit actual funds, achieving comprehensive supervision over all funds of budget units. This made fund flows early-warnable, traceable and controllable. In addition, the bureau improved the early warning and correction mechanism by combining online monitoring with offline verification, and system warnings with manual warnings, continuously enhancing the analysis and identification mechanism of early warning information to improve accuracy and effectiveness, ensuring problems are detected, warned and handled early.
The bureau also promoted the integration of multidimensional supervision work to form a closed loop of oversight synergy. Actual fund dynamic monitoring was combined with bank account annual inspections, account approval and filing, etc., to promptly investigate and rectify account management problems found during monitoring, achieving mutual promotion between account management and fund monitoring. It was integrated with the internal control development of budget units, delving into the causes of problems from internal control processes and urging units to improve their internal control systems and plug management loopholes. During budget and final account reviews, revenue and expenditure anomalies found through dynamic monitoring were used as important references, with the compliance of fund sources and expenditure purposes verified as a focus, to strengthen the closed-loop management of budget preparation, execution and final accounts. For important suspicious clues found in online monitoring, field inspections were conducted at the end-use of funds, focusing on three dimensions: warning type, violation amount and number of problems. Inspections verified business authenticity, process compliance and achievement of performance targets, shifting the focus of supervision from post-hoc investigation to in-process monitoring. Additionally, the bureau strengthened the analysis and utilization of actual fund revenue and expenditure data, explored special research, and promoted the effective transformation of supervision results, achieving a shift from "error correction" to "promoting management and reform."