Ulsan Office of Education Achieves 97.1% Budget Execution Rate, Secures 5 Billion KRW in Performance Bonuses

Achieving Top National Rankings for 4 Consecutive Years Exceeding Ministry of Education Targets

Rapid Fiscal Execution through System Improvements, Revitalizing Local Economy

The Ulsan Metropolitan Office of Education (Superintendent Cheon Chang-su) exceeded its 2024 special education fund expenditure target, securing 5 billion KRW in performance bonuses for the fourth consecutive year.

Last year, the Ulsan Office of Education spent 2.2609 trillion KRW, 24.5 billion KRW more than the Ministry of Education's expenditure target of 2.2364 trillion KRW. The expenditure rate reached 97.1%, 1.1 percentage points higher than the Ministry's target of 96%, placing it among the top nationwide.

Despite difficulties in financial execution due to a decrease in government tax revenue last year, the Ulsan Office of Education improved the budget allocation method for facility project expenses and timely adjusted ongoing project costs to increase the expenditure rate. They promptly executed various construction costs such as advance payments and progress payments and promoted the early purchase of goods and equipment.

In particular, the Ulsan Education Finance Execution Management Inspection Team, led by the Deputy Superintendent, operated on a weekly basis to check the financial execution status of each institution (department). For projects facing execution difficulties, causes were analyzed and countermeasures were quickly established to encourage timely budget execution.

An official from the Ulsan Office of Education stated, “This year as well, we will take the lead in revitalizing the local economy through active financial execution. We will strive to efficiently utilize limited resources through continuous system improvements and interdepartmental collaboration.”

In the first half of 2024, the Ulsan Office of Education also secured 1 billion KRW in performance bonuses by achieving the Ministry of Education's expenditure targets in consumption and investment sectors.

Ulsan Metropolitan Office of Education.

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