The Busan Metropolitan Office of Education (Superintendent Kim Seokjun) has decided to operate the Special Education Finance Fund exclusively through official deposit accounts in principle, and to open and operate ordinary deposit accounts only in unavoidable cases, in order to eradicate accounting accidents.
On September 16, the Office announced that it had established new management standards for ordinary deposit accounts as a follow-up measure to the "Comprehensive Plan to Eradicate Accounting Accidents" announced in June.
This reflects the results of a full inspection conducted in August of 209 ordinary deposit accounts held by its affiliated departments and institutions.
The new management standards include: mandatory approval requests to the Finance Division when opening new ordinary deposit accounts; registration and management of accounts in the Edufine system by each institution; prohibition of using credit card payment accounts for purposes other than their original intent; closure of long-term unused accounts; and inspections of account management status.
The inspection of account management will be operated under a dual system. Departments and institutions will conduct self-inspections on a quarterly basis, and based on these, the accounting and audit departments will carry out a secondary inspection. To enhance accountability in self-inspections, the inspector will be designated as the head of the institution or department.
Superintendent Kim Seokjun stated, "The measures to eradicate accounting accidents must take root in the field in order to normalize education in Busan," adding, "Through continuous management and improvement, we will secure fiscal soundness and build trust in Busan's education system."
Busan Metropolitan Office of Education
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