Request for Efficient Budget Execution and Response to Population Decline Reduction
[Asia Economy Honam Reporting Headquarters Reporter Lee Jun-kyung] The Budget and Accounts Committee of the Jeonnam Provincial Council announced on the 28th that it has completed the "2021 Fiscal Year Settlement and Contingency Fund Expenditure Review" for Jeonnam Province and the Jeonnam Provincial Office of Education.
For Jeonnam Province, with a budget amount of 11.2389 trillion KRW, the revenue settlement amount was 11.5916 trillion KRW, and the expenditure settlement amount was 10.9012 trillion KRW, resulting in a surplus of 690.4 billion KRW. For the Jeonnam Provincial Office of Education's Special Account for Educational Expenses, with a budget amount of 4.4347 trillion KRW, the revenue settlement amount was 4.4512 trillion KRW, and the expenditure settlement amount was 4.2289 trillion KRW, resulting in a surplus of 222.3 billion KRW.
In this settlement review, the legality and appropriateness of budget execution for major projects were analyzed, including comprehensive reviews on the fulfillment of the original budget purposes, effectiveness of budget execution, validity of project changes, cancellations, timing changes, and reasons for the occurrence of unused funds.
The review of the 2021 fiscal year settlement and contingency fund expenditures was approved as originally proposed for both Jeonnam Provincial Government and the Provincial Office of Education. However, Jeonnam Province presented 7 corrective action items, and the Office of Education presented 5, requiring written submissions at the second regular meeting.
The corrective action items for Jeonnam Province include: minimizing the balance of contingency fund execution, promoting accuracy in local tax estimation, efforts to minimize unused funds, minimizing carryover projects, improving the discovery of gender-responsive budget projects, thorough management of resident participation budget projects, and rational operation of the local bond issuance system, totaling 7 items.
The corrective action items for the Jeonnam Provincial Office of Education include: enhancing accuracy in revenue budget estimation, appropriate budgeting for projects with excessive unused funds, minimizing carryover projects for the following year, thorough fund management, and improving the rationality of goal setting in performance reports.
The approval of this Budget and Accounts Committee review will be finalized through a resolution at the plenary session on the 29th.
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