Expansion of Educational Welfare and Securing Financial Soundness Led by Superintendent
Repayment of 56.7 Billion Won in Local Bonds 10 Years Ahead, Achieving the First Debt-Free Education Office
[Asia Economy Yeongnam Reporting Headquarters Reporter Kim Yong-woo] Attention is focused on Ulsan's education policy, which aims to quickly repay debt while expanding welfare. Superintendent No Ok-hee is leading the effort.
The Ulsan Metropolitan Office of Education has decided to strengthen fiscal soundness by early repayment of the entire 56.7 billion KRW local bonds issued to improve the educational environment.
They intend to become a debt-free education office while maintaining a student-centered education welfare expansion policy. This marks the first time since its establishment that the office has announced it will be debt-free.
The Ulsan Metropolitan Office of Education issued local bonds in 2015-2016 and 2018 to expand kindergartens and improve the educational environment, with plans to repay them by 2031.
However, the plan was abruptly advanced, securing a total of 56.7 billion KRW by reflecting 3.9 billion KRW in the main budget this year and 52.8 billion KRW in two supplementary budgets, and has entered the early repayment process.
Accordingly, they plan to reduce about 5.1 billion KRW in interest costs until 2031 and flexibly use local bond repayment grants provided by the Ministry of Education to prepare for future educational demands.
To this end, the Ulsan Metropolitan Office of Education has decided to tighten its belt. They reduced their own resources such as facility project costs and conventional or showy project expenses to repay the local bonds early.
They plan to boldly eliminate showy, one-time project budgets and consolidate similar or overlapping projects to minimize budget waste.
Strengthening fiscal soundness does not mean neglecting Ulsan's educational welfare. On the contrary, it will be further enhanced.
In Ulsan, various education welfare policies are being implemented, including full expansion of free school meals, full implementation of free high school education, support for new students' uniform costs, support for learning materials, support for school trip expenses, and a dental primary care system.
Starting from March next year, for the first time among education offices nationwide, entrance preparation funds will be provided to elementary school freshmen.
High school trip expenses, previously limited to low-income and multi-child students, will be increased to support up to 200,000 KRW for all students.
During the COVID-19 situation, education disaster relief funds of 100,000 KRW per student were provided twice nationwide for the first time in May last year and January this year.
On the 15th, the third education disaster relief fund of 100,000 KRW per student was also provided nationwide for the first time.
An official from the Ulsan Metropolitan Office of Education said, “We are strengthening school site support projects to overcome students' learning loss and psychological and emotional damage caused by the prolonged COVID-19 pandemic.”
The plan is to continue the policy of expanding educational welfare while securing fiscal soundness in next year's budget formulation.
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