Gwangyang City Council Passes Amendment to Cut Supplementary Budget by 1.45 Billion Won

Supplementary Budget Confirmed at 1.1538 Trillion KRW, Decreasing by 34.6 Billion KRW from the Initial 1.1884 Trillion KRW

City's 2022 Budget of 1.1602 Trillion KRW Submitted to City Council

Administrative Audit to be Conducted by December 3

[Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik] The Gwangyang City Council in Jeollanam-do has finalized the 2021 3rd supplementary budget at 1.1538 trillion KRW.

The city council approved the 3rd supplementary budget, which had undergone preliminary review by each standing committee, through the Budget and Accounts Special Committee at the 2nd plenary session on the 24th.

The Gwangyang City Council Budget and Accounts Special Committee (Chairman Assemblyman Baek Seong-ho) completed the review of the 2021 3rd supplementary budget requested by the city, cutting 1.452 billion KRW from the general account of 957.12855 billion KRW and allocating it as internal reserves.

From the 22nd to the 23rd, the Budget and Accounts Committee heard the proposal explanation from the Director of the Planning and Budget Office, listened to the promotion plans for current projects by each department, and engaged in questions from committee members and answers from department heads.

The Budget and Accounts Special Committee consists of Chairman Assemblyman Baek Seong-ho, Vice Chairman Assemblyman Jo Hyun-ok, and members Assemblymen Park No-shin, Seo Young-bae, Park Mal-rye, and Choi Dae-won.

The 3rd supplementary budget reviewed by the committee amounts to 1.1538 trillion KRW (general account 957.1 billion KRW, special account 196.7 billion KRW), which is 34.6 billion KRW less than the 2nd supplementary budget of 1.1884 trillion KRW. The review focused intensively on projects aimed at overcoming COVID-19, restoring the livelihood economy, enhancing citizen welfare, and realizing carbon neutrality.

Chairman Baek Seong-ho stated, "Projects that did not align with the purpose of the supplementary budget or were excessively budgeted without urgency were cut and revised." He added, "Regarding the public specialized science museum, despite various concerns, the budget was approved considering the executing agency’s policy will to secure national and provincial funds. Moving forward, the location selection and operational plans for the specialized science museum should be thoroughly reviewed and promoted."

Meanwhile, the Gwangyang City Council will conduct administrative audits starting on the 25th, with policy inquiries scheduled for December 2nd to 3rd.

This administrative audit is a process of carefully examining and reviewing projects promoted by the executing agency in various fields and is expected to be actively reflected during the review of the 2022 main budget, which is the final schedule of the 305th regular session.

The total scale of the 2022 budget submitted by the city is 1.1602 trillion KRW (general account 939.3 billion KRW, special account 220.9 billion KRW). From December 6th, the city council plans to review next year’s budget and fund operation plans, as well as 28 ordinances and general proposals, by each standing committee.

Asia Economy Honam Reporting Headquarters, Reporter Heo Seon-sik hss79@asiae.co.kr

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