Ji Mingyu of Chungnam Provincial Council Proposes "Ordinance on Approval of Settlement and Contingency Fund Expenditures of Chungnam Province"

Mandatory Submission of Settlement Reports and Related Documents to the Council

Assemblyman Ji Mingyu of Chungnam Provincial Council, who proposed the ordinance for the approval of the Chungnam Province settlement and contingency funds./Provided by Chungnam Provincial Council

The Chungnam Provincial Council has taken steps to establish institutional measures aimed at enhancing the transparency and strengthening the accountability of the executive branch's budget execution.

The council announced on the 17th that the "Ordinance on the Approval of Settlement and Contingency Fund Expenditures of Chungcheongnam-do," proposed by Assemblyman Ji Mingyu (Asan 6, Independent), was passed as originally drafted at the 2nd meeting of the Administrative and Cultural Affairs Committee during the 359th regular session.

According to the ordinance, the governor is required to prepare a settlement report in accordance with the Local Accounting Act and submit it to the provincial council. It also stipulates that the details of contingency fund expenditures must be submitted as a separate agenda item from the settlement report and be subject to approval.

Additionally, if the executive branch uses contingency funds, they must report the usage details on a quarterly basis to both the standing committee and the Special Committee on Budget and Accounts, thereby ensuring transparency in the execution of contingency funds.

Furthermore, the ordinance makes it mandatory for the governor to submit a separate fund settlement report, as stipulated by the Framework Act on the Management of Local Government Funds, to the council for resolution. It also requires that, if the council does not approve the settlement or contingency fund expenditures, the governor must take actions reflecting the reasons for the disapproval.

Assemblyman Ji stated, "The council's most fundamental responsibility is to provide oversight to ensure that residents' taxes are not wasted," adding, "I hope that the enactment of this ordinance will create a more responsible environment for budget execution and serve as an opportunity to enhance the transparency and efficiency of the province's financial management."

The ordinance on the approval of settlement and contingency fund expenditures of Chungnam Province is scheduled for final deliberation at the 4th plenary session on June 24.