Gokseong-gun, Awarded 'Overall Best' in 2022 Local Government Financial Analysis

Minister of the Interior and Safety Commendation, Secured 90 Million Won in Financial Incentives

[Gokseong=Asia Economy Honam Reporting Headquarters, Reporter Cha Jong-sun] Gokseong-gun, Jeollanam-do announced that it was selected as the ‘Comprehensive Best Organization’ in the Gun-IV category in the 2022 Local Government Financial Analysis Evaluation hosted by the Ministry of the Interior and Safety, receiving the Minister of the Interior and Safety Commendation and a special grant of 90 million won as a reward.

The Ministry of the Interior and Safety conducted the ‘2022 Local Government Financial Analysis Evaluation’ based on the 2021 fiscal year settlement data of 243 local governments nationwide. As a result, 42 places including Gokseong-gun were selected as excellent organizations.

The financial analysis is a system that comprehensively analyzes and evaluates the status and performance of local finances. Local governments are categorized into 13 groups of counties with similar conditions such as population size, elderly population ratio, financial independence index, and expenditure scale for evaluation. Each category includes about 20 local governments.

The financial analysis items are broadly divided into soundness, efficiency, and planning. The main indicator system uses 13 key indicators such as debt ratio and local subsidy ratio, 11 analysis indicators such as budget execution rate and net surplus ratio, and 15 reference indicators such as administrative operating expense ratio and resident participation budget expenditure ratio.

Gokseong-gun received a comprehensive good evaluation especially in the efficiency area, including the rate of change in local subsidies, the rate of change in local tax arrears, and the ratio of self-funded expenses, and was the only ‘Best Organization’ selected within Jeollanam-do.

A Gokseong-gun official said that this was the result of efficiently managing finances despite difficult financial conditions, and added, “We will continue to strengthen financial soundness through strategic resource allocation and securing national funds.”

Gokseong=Asia Economy Honam Reporting Headquarters, Reporter Cha Jong-sun hss79@asiae.co.kr

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