Paju-si, 2024 3rd Supplementary Budget Set at 2.4068 Trillion Won

Paju City, Gyeonggi Province (Mayor Kim Kyung-il) announced on the 26th that it has prepared the 3rd supplementary budget proposal amounting to 2.4068 trillion won, an increase of 100.3 billion won (4.4%) compared to the 2nd supplementary budget.

Paju City Hall exterior. Provided by Paju City

By account, the general account is 1.9404 trillion won and the special account is 466.4 billion won, which represents an increase of 85.3 billion won (4.6%) in the general account and 15 billion won (3.3%) in the special account compared to the 2nd supplementary budget.

By sector based on the general account, the scale is as follows: social welfare 793.6 billion won (41.0%), transportation and logistics 211 billion won (10.9%), general public administration 175.2 billion won (9.0%), and environment 132.2 billion won (6.8%).

Considering the difficult financial conditions due to the government's tax revenue shortfall which has reduced local allocation tax grants, the city reviewed the overall execution status of ongoing projects and cut about 14 billion won in project costs to secure funds for future key city projects.

Additionally, budget items that need to be timely allocated to ensure the smooth progress of upcoming large-scale SOC (Social Overhead Capital) projects and uninterrupted continuation of various subsidy projects were carefully reviewed, selected, and reflected in this supplementary budget proposal.

Key detailed items include ▲700 billion won for the government office construction fund ▲5.9 billion won for disaster relief funds and public facility restoration costs for the heavy rain damage from July 8 to 19 ▲2 billion won for the Barefoot Walking Project in Gyeonggi Province ▲100 million won for road widening and expansion from Yadong to Geumseung ▲200 million won for the Seoul Metropolitan Area Express Railway (GTX-A) ▲500 million won for the construction of Bandabi National Sports Center ▲50 million won for road improvements in Dangdong-ri village ▲2 billion won for basic pension ▲3 billion won for infant care fee support ▲1.4 billion won for The Gyeonggi Pass, etc.

Meanwhile, the 3rd supplementary budget proposal will be submitted to the city council on the 27th and, after deliberation by the council, is scheduled to be approved on December 18.