Proposing Improvement Measures
for Transparent and Fair Financial Management
Hapcheon County in South Gyeongsang Province announced on April 21 that it had completed the '2024 Fiscal Year Budget and Financial Settlement Inspection,' which was conducted over 20 days from April 1 to April 20.
For the 2024 fiscal year budget and financial settlement inspection, county council member Shin Myungki was appointed as the internal representative commissioner, while three external commissioners?former public officials Jeon Deokgyu, Oh Geunhee, and Kim Gilhwan, all experts in finance and accounting?were also appointed.
The settlement inspection commissioners reviewed the 2024 fiscal year revenue and expenditure settlement statements and related documents to ensure compliance with relevant laws such as the Local Finance Act, detailed guidelines for local government budget formulation, and local government settlement guidelines. They also examined the appropriateness of Hapcheon County's fiscal scale and the efficiency of its financial management, conducting inspections by sector.
The inspection found excessive returns of subsidies, overspending beyond received amounts, and underutilization of public property. The commissioners emphasized the need to strengthen both fiscal autonomy and accountability by not only expanding the revenue base but also establishing an integrated fiscal management system through asset utilization, project feasibility reviews, and consistent accounting control systems.
During the inspection, the representative commissioner stated, "We will continue to pay close attention to ensure that issues identified in the settlement inspection are not repeated," and added, "We have proposed various improvement measures to enhance public trust through transparent and fair financial management."
The results of this inspection, along with the inspection report, will be submitted to the county council and are scheduled for final approval at the first regular session in June. They will also serve as a basis for future budget formulation and sound fiscal management.
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