Sejong City Saves 9.9 Billion KRW in Budget Through Routine Audits and Contract Reviews

The Sejong City Audit Committee announced on the 10th that it saved a total budget of 9.9 billion KRW through routine audits and contract reviews in the first half of this year.

This amount is 3.7 billion KRW (60%↑) more than the 6.2 billion KRW saved in the first half of last year.

Previously, the Audit Committee reviewed 321 cases in the first half of this year, including 63 construction projects, 122 service contracts, and 136 goods procurement cases.

The Audit Committee plans to continue its strengthened review policy in the second half of the year by preventing habitual budget execution and eliminating wasteful factors in connection with the prompt execution of financial projects.

Routine audits and contract reviews are conducted before the execution of major projects to check legality and appropriateness, review cost estimation and contract methods, and eliminate financial waste factors to prevent administrative trial and error.

The scope of routine audits applies to projects ordered by Sejong City headquarters, the Office of Education, business offices, public corporations, construction companies, and invested or funded institutions, when the scale is 500 million KRW or more for construction (300 million KRW for specialized construction), 200 million KRW for services, and 50 million KRW or more for goods manufacturing or purchase.

Kim Seongsu, Chairman of the Audit Committee, said, “We plan to expand the scope of routine audits through related regulation revisions in the second half of the year,” adding, “The saved budget will be used to cover revenue shortfalls and reinvested as resources to revitalize the stagnant local economy.”

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