Jeonnam Provincial Council Budget Committee Approves 2024 Settlement Proposals for Province and Office of Education as Submitted

Seventeen Corrective Measures Requested, Including Minimizing Unused Funds and Carryover Projects
Chairperson Na Gwangguk: "Financial Management Aligned with Residents' Expectations"

The Jeonnam Provincial Council's Special Committee on Budget and Accounts has concluded its third term of activities and finalized the 2024 fiscal year settlement proposals for Jeonnam Province and the Jeonnam Provincial Office of Education.

The committee announced on June 16 that, during the settlement and reserve fund expenditure review held over two days starting June 12, it approved the settlement proposals for both Jeonnam Province and the Provincial Office of Education as originally submitted.

The Jeonnam Provincial Council's Special Committee on Budget and Accounts finalized the 2024 fiscal year settlement proposals for Jeonnam Province and the Jeonnam Provincial Office of Education, concluding its third term of activities. Provided by Jeonnam Provincial Council

For the 2024 fiscal year, Jeonnam Province's total budget was 11.5485 trillion won, with revenue settlements totaling 11.4467 trillion won and expenditure settlements totaling 11.0356 trillion won. The resulting surplus was 411.1 billion won. For the Jeonnam Provincial Office of Education, the total budget was 5.2609 trillion won, with revenue settlements of 5.2572 trillion won and expenditure settlements of 5.0441 trillion won, resulting in a surplus of 213 billion won.

The committee requested nine corrective measures from Jeonnam Province, including: enhancing the efficiency of fund management, strengthening the appropriateness of reserve fund usage, minimizing unused funds and carryover projects, increasing the local tax collection rate, and improving the effectiveness of gender-responsive budgeting. For the Provincial Office of Education, the committee called for eight improvements, such as ensuring the accuracy of transfer income estimates, efficient management of educational public service personnel, minimizing unused and carried-over funds, expanding priority purchases of products made by people with severe disabilities, and improving the management of continuing expenditure projects.

Chairperson Na Gwangguk stated, "Even during the national crisis of the 12·3 Martial Law, our committee members fulfilled their responsibilities to the residents until the end," and added, "Despite challenging fiscal conditions, we thoroughly reviewed the budget to support the advancement of provincial administration and education in Jeonnam."

He further noted, "One of the major achievements of this committee was successfully coordinating sensitive issues such as cost-sharing negotiations for free school meals and the allocation of basic income budgets between Jeonnam Province and the Provincial Office of Education," and added, "We will continue to monitor financial management to ensure it meets the expectations of our residents."

The settlement and reserve fund expenditure approval proposals for the 2024 fiscal year for both Jeonnam Province and the Provincial Office of Education, which were reviewed and approved this time, are scheduled for final approval at the plenary session to be held on June 17.

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