Sancheong-gun, Financial Guarantee Insurance Enrollment for Accounting Officials

177 Public Officials Join... Deposit Amount Doubled

[Asia Economy Yeongnam Reporting Headquarters Reporter Choi Soon-kyung] Sancheong-gun, Gyeongnam announced on the 30th that it has enrolled 177 accounting-related public officials in financial guarantee insurance.

This financial guarantee insurance enrollment is a measure to prevent property damage that may occur due to negligence in the duties of accounting-related public officials.

Also, accounting-related public officials are required by the Local Accounting Act to enroll in financial guarantees and perform their duties accordingly.

Sancheong County Office, Gyeongnam.

In accordance with the Sancheong-gun Accounting-Related Public Officials Financial Guarantee Ordinance, 177 individuals including treasurers, property managers, goods managers, and expenditure officers were enrolled in financial guarantee insurance.

In particular, this year the financial guarantee insurance coverage amount was increased more than twice compared to the previous year.

Treasurers and assistant treasurers can be guaranteed from a maximum of 300 million KRW (100 million KRW for special accounts and funds) to a minimum of 50 million KRW depending on the workload.

The guarantee period is from the 1st of next month until January 31 of the following year.

A county official stated, "Financial guarantee insurance helps prepare for property loss in case of accounting accidents, thereby reducing the workload burden on the person in charge," and added, "We plan to continue supporting accounting staff so that they can perform their duties more responsibly."