Ulsan Office of Education Achieves Top Rank in Financial Execution... Secures 5 Billion KRW in Performance Bonuses for 2 Consecutive Years

Ulsan Office of Education.

[Asia Economy Yeongnam Reporting Headquarters Reporter Hwang Du-yeol] Ulsan Metropolitan Office of Education exceeded the 2022 special education fund financial execution target and secured 5 billion KRW in performance incentives from the Ministry of Education for the second consecutive year.

Ulsan Metropolitan Office of Education executed 2.5142 trillion KRW, surpassing the Ministry of Education's financial execution target of 2.4673 trillion KRW by 46.9 billion KRW last year. The financial execution rate reached 97.8%, placing it among the top ranks.

To achieve the financial execution target, the Office of Education improved the budget allocation method for facility project expenses, fully utilized customized welfare expenses, expedited execution of various construction costs such as advance payments and progress payments, and promoted early procurement of goods and equipment. They also actively used 'prepayment' to support local small business owners.

The Office of Education stated that improving the budget allocation method for facility project expenses significantly contributed to increasing the financial execution rate.

Since most facility projects are carried out during winter vacation, a chronic problem of unavoidable carryover and non-utilization of funds occurs every year. The Ulsan Metropolitan Office of Education budget, facilities, contracts, and accounting departments collaborated to introduce a continuing budget system for second-year school education environment improvement projects.

The facilities department identified actual expenditures based on annual progress, the budget department converted the budget into continuing funds, and the contracts department utilized multi-year contracts, thereby expanding the continuing budget system to school education environment improvement projects with a two-year construction period.

Looking at the trend of carryover and non-utilization rates at Ulsan Office of Education, it started at 15.2% in 2005, peaked at 17.7% in 2013, showed a slight decline recently, and sharply dropped to 2.2% in 2022.

The Office of Education stated that this is the highest level nationwide and the best performance ever recorded.

The school budget support method also shifted in the second supplementary budget from a method where the Office of Education established project plans and provided lump-sum support to schools, to a 'field-oriented school issue project' reflecting individual demands, supporting 29.3 billion KRW to maximize budget input effects.

Earlier, in the first half of 2022, the Office secured 1 billion KRW in performance incentives by achieving the Ministry of Education's execution targets in consumption and investment sectors.

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