Songpa-gu Saves 1.4 Billion Won Budget Through Routine Audits and Contract Reviews

In 2020, a total of 957 pre-contract reviews conducted, resulting in significant budget savings... Over the past 5 years, expert evaluations saved a whopping 5.5 billion KRW

[Asia Economy Reporter Jongil Park] Songpa-gu (Mayor Seongsoo Park) announced that through routine audits and contract reviews conducted before signing contracts for construction, services, and supplies, it saved 1.4 billion KRW in budget in 2020, achieving significant results in financial efficiency.

Routine audits (contract reviews) are a system that pre-examines the appropriateness, suitability, and validity of major policies and project execution before contract signing, reviews and analyzes the appropriateness of cost estimation, and prevents budget waste factors in advance.

The targets include construction and service projects over 20 million KRW, supplies over 10 million KRW, and design change projects with contract amount increases of over 10% among projects ordered by the district office, community service centers, district council, facility management corporation, foundations, and business offices.

In 2020, Songpa-gu conducted routine audits (contract reviews) on a total of 957 projects worth 154.2 billion KRW, including 378 construction projects, 137 service projects, 224 supply projects, and 218 other projects such as design changes, resulting in a budget saving of 1.4 billion KRW.

Furthermore, over the past five years, it saved a total of 5.5 billion KRW on 3,648 projects.

In particular, since 2013, the district has integrated and unified routine audits and contract review tasks, reducing administrative waste in project departments and shortening the processing period from two weeks to within 3 to 5 days, thereby enhancing the speed and efficiency of work execution.

Also, for staff lacking practical experience in construction and project design, pre-contract design consultations are conducted to prevent over-design and calculation errors in advance, striving for transparent and efficient budget execution.

Seongsoo Park, Mayor of Songpa-gu, stated, “We will continue to lead trustworthy citizen administration with sound finances by thoroughly conducting pre-audits to block inappropriate projects and budget waste factors.”

This content was produced with the assistance of AI translation services.