RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of August 26, 2015 No. 657

About approval of the Procedure for placement by the highest and professional educational institutions on supplementary (deposit) accounts in organizations of banks of public sector of economy of temporarily available budgetary funds received for provision of paid services

According to part nine of Article 13 of the Budget code of Ukraine the Cabinet of Ministers of Ukraine decides:

Approve the Procedure for placement by the highest and professional educational institutions on supplementary (deposit) accounts in organizations of banks of public sector of economy of temporarily available budgetary funds received for provision of paid services which is applied.

Approved by the Resolution of the Cabinet of Ministers of Ukraine of August 26, 2015 , No. 657

Procedure for placement by the highest and professional educational institutions on supplementary (deposit) accounts in organizations of banks of public sector of economy of temporarily available budgetary funds received for provision of paid services

1. This Procedure determines the mechanism of placement by the state and municipal highest and professional educational institutions, their isolated structural divisions (further - educational institutions) on supplementary (deposit) accounts in organizations of banks of public sector of economy of temporarily available budgetary funds received by them for provision of paid services.

2. In this Procedure terms are used in such value:

Bank of public sector of economy (further - bank) - bank in which the state owns at least 75 percent of the authorized capital;

solvency of educational institution - capability of educational institution timely and in full to make payments according to obligations of the general fund and obligations in the corresponding directions of use of special fund;

temporarily available budgetary funds - the means of educational institution received by it for provision in accordance with the established procedure of paid services which are considered on the corresponding account of special fund of educational institution for date of their placement on supplementary (deposit) accounts and which derivation will not lead to loss of solvency and emergence of debt on the general funds or corresponding directions of use of special fund during the period for which placement of such means on supplementary (deposit) accounts in banks is supposed.

3. Conditions of placement of temporarily available budgetary funds on supplementary (deposit) bank accounts are:

1) the decision of educational institution made according to Item 5 parts two of article 36 of the Law of Ukraine "On the higher education" and which is drawn up by the relevant administrative document according to part six of article 36 of the specified Law on placement of temporarily available budgetary funds on supplementary (deposit) accounts in banks;

2) availability in bank deposit agreement (deposit) between bank and educational institution of compulsory provisions for:

the rights to return of contribution (deposit) or its part on the first demand of educational institution without payment to bank of penalty;

prohibition of contractual write-off by bank of funds from the supplementary (deposit) account of educational institution;

placements of temporarily available budgetary funds on supplementary (deposit) accounts only within the current budget period and obligatory return no later than December 20 of this period into the accounts specified in the agreement:

- Such means - into the corresponding special registration account of educational institution opened in body of Treasury or the corresponding current account of educational institution opened according to the legislation in bank (further - the current account);

- Interest for using contribution (deposit) - into the corresponding special registration account of educational institution opened in body of Treasury;

banking liability according to the legislation in case of violation of contractual commitments, in particular non-return in certain amount and/or untimely return of funds, and also interest for using contribution (deposit) from the supplementary (deposit) account into the corresponding special registration accounts of educational institution opened in body of Treasury and/or the corresponding current account from which temporarily available budgetary funds for placement on supplementary (deposit) accounts were transferred. Responsibility can be established in the form of payment by bank for benefit of educational institution of penalty on progressive scale since first day of delay;

obligations of educational institution to take a legal action in case of refusal bank to return means or interest for using contribution (deposit) on conditions and to the terms determined by bank deposit agreement (deposit);

3) placement of temporarily available budgetary funds received as service fee which are provided according to the main activities in the field of education, only in national currency;

4) absence at educational institution for date of placement of temporarily available budgetary funds of overdue accounts payable on the general fund and the corresponding directions of use of special fund of educational institution.

4. If in the procedure established by the legislation the educational institution placed on current accounts own receipts received as service fee, provided to them according to the main activities in the fields of education, either charitable fees, or grants, placement of temporarily available budgetary funds can be performed in the same bank.

5. For placement of temporarily available budgetary funds on supplementary (deposit) accounts educational institution taking into account requirements of Item 3 presents of the Procedure create the request offer and sends it to the banks meeting the requirements determined by the paragraph the second Item 2 presents of the Procedure and also can post the request offer on the official site.

The request offer shall contain details of educational institution, information on amount of temporarily available budgetary funds which are subject to placement, placement conditions, date of consideration of the request offer and adoption of the relevant decision by bank (no more than five working days from the date of sending the request offer).

6. If for date of consideration of the request offer and adoption of the relevant decision by bank the offer that fully corresponds to the conditions specified in the request offer arrived only from one bank, the bank deposit agreement (deposit) is signed with such bank.

In the presence of offers from several banks the bank deposit agreement (deposit) is signed with bank which with other things being equal offered the highest interest rate for date of the conclusion of the contract for contribution (deposit) for the corresponding term. If banks offer with other things being equal identical interest rates, the choice of bank is performed by educational institution independently.

The educational institution has the right to address to banks which submitted proposals, behind explanations and provision of the additional information.

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