The Gwangju Seo-gu Council Budget and Accounts Special Committee, chaired by Kim Hyeongmi, announced on the 24th that it convened the committee during the 331st 1st regular session on the 23rd, reviewed three items including the 2024 fiscal year settlement bill, and approved them as originally proposed.
The settlement amounts for revenue and expenditure in the 2024 fiscal year, including both the general and special accounts, were 881.3 billion won and 744.6 billion won, respectively. The surplus amounted to 136.7 billion won, and the settlement amount for other funds was 22.9 billion won.
In particular, the opinion statement for this settlement review not only fully addressed discrepancies in the last digits of figures caused by various previous accounting standards such as truncation and rounding, but also significantly improved the document's completeness compared to previous versions by repeatedly revising it until all formulas and totals matched exactly from the first to the last page of the 28-page report.
Kim Hyeongmi, chairperson of the Budget and Accounts Special Committee, stated, "Settlement review is not simply a process of reconciling figures for executed amounts and remaining balances or pointing out inaccurate cost estimates and unused budget amounts. Settlement approval is an important process for ensuring financial transparency and accountability, to the extent that the Local Autonomy Act Enforcement Decree specifies it must be handled within the session of the 1st regular meeting."
She added, "With the economic crisis becoming a reality as a minus 0.2% economic growth rate was recorded in the first quarter, administrative budgets that are excessively allocated and managed could even cause a sense of relative deprivation among residents. Now that the settlement bill has been approved as originally proposed, I hope Seo-gu Office will focus even more on policies to revive the local economy and support livelihoods, acting with a greater sense of responsibility."
Meanwhile, the three items including the 2024 fiscal year revenue and expenditure settlement bill are scheduled to be submitted for final approval at the third plenary session of the 331st 1st regular meeting on the 25th.
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