Cheonan City, 326 Billion KRW Supplementary Budget for the First Time This Year

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On the 12th, Cheonan City in Chungnam announced that it has prepared the first supplementary budget totaling 326 billion KRW and submitted it to the city council.

The general account revenue sources include 50.7 billion KRW from local allocation tax, 2.1 billion KRW from adjustment grants, an increase of 80.9 billion KRW from national and provincial subsidies, and 95.7 billion KRW from the fiscal year 2023 net surplus.

Additionally, among the special account revenue sources, 26 billion KRW in local bonds will be issued for five projects including the expansion of water storage facilities to ensure stable water supply.

Funds of 17.3 billion KRW have been allocated to support vulnerable groups such as livelihood benefits and support for severely disabled persons with developmental disabilities, and 11.6 billion KRW for the Cheonan Love Gift Certificate discount sales compensation to stabilize household finances and support small business owners.

Budgets for elderly welfare have also been expanded to reflect the increasing elderly population, including 20.4 billion KRW for basic pensions, 6.8 billion KRW for senior job projects, 1.4 billion KRW for remodeling the Baekok Building of Aunae Silver Welfare Center, and 700 million KRW for reinforcing senior citizen centers’ functions.

The budget also includes various projects to expand social overhead capital (SOC) and improve public transportation services.

It reflects 19.8 billion KRW for expanding water supply facilities in industrial complexes, 17.1 billion KRW for sewage pipeline maintenance, 2 billion KRW for purchasing low-floor buses, and 5 billion KRW for city bus electric charging stations, large vehicle replacements, and transfers.

Budgets of 12.3 billion KRW for expanding structures on the Sejong-Anseong Expressway (Dongcheonan Junction), 11.2 billion KRW for opening urban planning roads, and 4.2 billion KRW for road maintenance such as paving village roads in eup and myeon areas have been allocated.

In addition, 11 billion KRW has been allocated for natural disaster risk improvement districts and small stream maintenance projects, and 1.8 billion KRW for flood and wind disaster living area maintenance and flood insurance projects to prepare for disasters and calamities.

With this supplementary budget, Cheonan City's total budget for this year is expected to reach 2.726 trillion KRW.

This is an increase of 326 billion KRW (13.6%) compared to the original budget of 2.4 trillion KRW. The general account increased by 263 billion KRW to 2.328 trillion KRW, and the special account increased by 63 billion KRW to 398 billion KRW.

Meanwhile, the supplementary budget proposal will be submitted to the 268th extraordinary session of the Cheonan City Council and is expected to be finalized through a resolution on the 29th.

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