Gokseong-gun Prepares 477.6 Billion Won Budget for Next Year

Published 22 Nov.2023 15:55(KST)

Up 1.8% and 8.2 Billion Won Compared to This Year

Gokseong-gun, Jeollanam-do (Governor Lee Sang-cheol) announced on the 21st that it has drafted the 2024 budget and submitted it to the Gokseong County Council.

The budget for Gokseong-gun next year was set at a total of 477.6 billion KRW, an increase of 8.2 billion KRW (1.8%) compared to this year's original budget of 469.4 billion KRW. The general account increased by 5.3 billion KRW (1.2%) to 454.6 billion KRW, and the special account increased by 2.9 billion KRW (14.6%) to 23 billion KRW.

[Photo by Gokseong-gun]

Among the general account revenue budget, local taxes and non-tax revenues, which are self-generated resources, increased from 39 billion KRW to 42.1 billion KRW, up 3.1 billion KRW (7.9%), while dependent resources such as local allocation tax decreased from 230.7 billion KRW to 221 billion KRW, down 9.7 billion KRW (4.2%).

The adjustment grant was set at 7 billion KRW, and national and provincial subsidies were set at 154.3 billion KRW, an increase of 15.2 billion KRW (10.9%) compared to the previous year.

The 10.9% increase in national and provincial subsidies compared to the previous year is part of Governor Lee Sang-cheol’s efforts, who visited the National Assembly and central government ministries several times to actively request support.

Additionally, the county secured 11.2 billion KRW by receiving an A grade, a higher rating, for the Local Extinction Response Fund.

Facing a shortage of tax bases due to decreases in national and local taxes, Gokseong-gun evenly allocated limited resources focusing on ▲ selective and concentrated investment through financial management efficiency, ▲ strengthening support for socially vulnerable groups, and ▲ revitalizing the local economy and key county government projects.

The breakdown of the general account expenditure budget by sector is as follows: social welfare 89.2 billion KRW (19.6%), agriculture, forestry, marine and fisheries 87.8 billion KRW (19.3%), land and regional development 40.8 billion KRW (9%), culture and tourism 37 billion KRW (8.1%), health and environment 34.6 billion KRW (7.6%), industry and transportation logistics 16.7 billion KRW (3.7%), and general public administration 37 billion KRW (8.1%).

Governor Lee Sang-cheol said, "Despite the very difficult financial conditions next year, we prioritized projects for citizen safety and welfare improvement while drafting a budget increased by 1.8%. We will do our best to ensure continuity of ongoing projects and to promote key initiatives of the 8th elected term without interruption to achieve early results."

The 2024 budget will be finalized on December 8 after review at the 2nd regular session of the Gokseong County Council.