Minister of the Interior Award and Special Grant of 100 Million Won Honor
Yangsan City in Gyeongnam achieved the highest comprehensive grade of 'A' in the 2024 (Fiscal Year 2023) Local Government Financial Analysis evaluated by the Ministry of the Interior and Safety, receiving the Minister of the Interior and Safety Award and securing a special grant of 100 million KRW.
The Ministry of the Interior and Safety conducts an annual evaluation of 243 local governments, comparing and analyzing 14 indicators across three areas: ▲ soundness ▲ efficiency ▲ planning, to enhance the soundness and efficiency of local finances and ensure accountability.
Yangsan City's achievement of the highest grade this time can be seen as the result of continuous efforts to improve financial management conditions under the government's sound fiscal policy and the efficient operation of the budget to improve citizens' quality of life.
Specifically, by lowering the current account balance ratio, the city was recognized for securing the maximum amount of its own resources and stable financial management efforts despite the nationwide difficult tax revenue conditions.
Additionally, the city received excellent evaluations in indicators such as the rate of change in overdue non-tax revenue collection and the ratio of local subsidies. This is analyzed to be due to active delinquency management and efficient management of subsidy projects through meticulous review from budget formulation to performance evaluation.
A Yangsan City official stated, “This was the result of improving financial management conditions and meticulous budget operation despite the difficult economic situation. We will continue to strive to formulate budgets essential to citizens and execute them timely through systematic financial management so that the city's finances can be operated more soundly and systematically.”
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