[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] The Gyeongnam Office of Education will begin settlement work starting with the 2021 Special Account for Education Expenses Settlement Officer Training on the 17th.
The settlement officer training was conducted non-face-to-face using the online platform ‘iTalkTalk.’ The training was organized to enhance the expertise of the officers by sharing and communicating interactively the guidelines for preparing the settlement report and its key contents.
Settlement is the act of presenting all income and expenditures incurred during the relevant fiscal year in a fixed format with confirmed figures.
It is the final stage of the budgeting process and consists of revenue and expenditure settlement, financial statements, gender-responsive settlement and performance reports, and fund settlements.
The 2021 fiscal year settlement report must be completed by March 20, undergo inspection by settlement inspection officers appointed by the provincial council in April, and be finalized with the approval of the provincial council in September.
To analyze the causes of the net ‘world surplus’ more thoroughly, the reasons for unexecuted balances will be subdivided from 4 items in the previous year to 6 items, and charts and other tools will be used to present the financial execution details so that residents can understand the education office’s finances at a glance.
Hwang Dulsuk, Director of Finance, said, “We will satisfy the residents’ right to know through accurate and easy-to-understand settlements and improve issues through settlement inspections. We will actively reflect operational performance in the next year’s budget formulation and execution to ensure financial transparency.”
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