Gyeonggi Province to Begin 2025 Fiscal Year Financial Settlement Audit on April 29

Gyeonggi Province will conduct the 2025 fiscal year financial settlement audit from April 29 to May 15 at key institutions including the main provincial government building, the Northern Government Complex, the Fire and Disaster Headquarters, the Construction Headquarters, and the Institute of Health and Environment.

This procedure comprehensively reviews the previous year’s revenue and expenditure budget execution and the results of fiscal management. The audit will be conducted by the Financial Settlement Audit Committee, which is appointed by the provincial council.

The committee comprises 13 public and private sector experts, including the chief member Dohoon Kim (People Power Party, Proportional Representation) of the Gyeonggi Provincial Council, as well as council members Hodong Lee (People Power Party, Suwon District 8) and Changhui Lim (Democratic Party of Korea, Gwangju District 2), along with certified public accountants, tax accountants, financial experts, and members from civil society organizations.

The audit will cover the general account, special accounts, funds, bonds and debts, shared assets, gender-responsive budgeting, performance reports, and all aspects of fiscal management.

Kim Sungjoong, Administrative Deputy Governor of Gyeonggi Province, declared the commencement of the settlement inspection for last year on the 29th. Photo by Gyeonggi Province

Dohoon Kim, the chief representative of the audit committee, stated, "We will thoroughly verify whether the province’s finances have made a tangible contribution to stabilizing residents’ lives and reviving the local economy amid challenging economic conditions." He added, "We will focus on whether the budget was efficiently executed in areas of genuine need and make every effort to enhance fiscal soundness and accountability."

After the audit, the committee will submit its opinion within 10 days. Gyeonggi Province will then submit the finalized financial settlement report, reflecting these opinions, to the provincial council by the end of May.

Subsequently, following approval at the regular council meeting in June, the final results will be confirmed and released on the official Gyeonggi Province website (gg.go.kr).

Kim Sungjoong, the First Deputy Governor of Gyeonggi Province, commented, "The financial settlement audit is an important procedure for reviewing the previous year’s fiscal management performance and setting the direction for future policy." He continued, "We will faithfully incorporate the valuable insights of the committee members to ensure more sound and efficient fiscal management."

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