[Asia Economy Yeongnam Reporting Headquarters Reporter Kang Woo-kwon] Miryang City in Gyeongnam was selected as the 'Overall Best Institution' in the financial analysis results of 243 local governments nationwide, hosted by the Ministry of the Interior and Safety.
The financial analysis system is a local finance monitoring system that comprehensively evaluates the financial status of local governments every year based on 13 major financial indicators across three key areas: soundness, efficiency, and planning. Incentives are provided to outstanding institutions, while underperforming institutions are encouraged to improve soundness and efficiency through financial diagnosis.
This year, the existing indicators were improved to conduct a more accurate evaluation by comparing institutions with similar population and financial conditions. Miryang showed excellent performance in local tax collection rate and self-expense ratio. It also received outstanding results in the mid-term financial plan reflection rate and tax revenue error rate.
Kim Seong-geon, Director of Planning and Audit, said, “We are pleased to receive the highest grade in the financial evaluation and to be supported with special grants. With the greater challenge of overcoming COVID-19 remaining, we will prepare and operate a sound and well-planned budget to revitalize the economy.”
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