Uijeongbu City Announces '2016 Final Settlement-Based Local Finance Disclosure'

Uijeongbu City (Mayor An Byeong-yong) will post the 2016 final settlement-based local finance disclosure on the Uijeongbu City website (www.ui4u.go.kr) starting from the 31st.

Local finance disclosure is a system designed to help residents understand local government financial operations and ensure fiscal accountability and transparency to the public by objectively disclosing the results of financial management and matters of public interest through local authorities.

Key items consist of common disclosures in 9 areas including final settlement scale of high public interest, major budget execution results, and major investment project progress, as well as special disclosures on major projects implemented in the previous year.

According to Uijeongbu City's local finance disclosure data, the city's budget size for the 2016 fiscal year, combining own-source revenue and dependent funds, local debt, and transfer revenue and internal transactions, totaled 1.2779 trillion won, representing an increase of 49.7 billion won compared to the previous year.

Of this, own-source revenue (local taxes and non-tax revenue) was 315.8 billion won, with the annual local tax burden per resident at approximately 380,000 won.

Additionally, the city's debt as of the end of 2016 was 54.2 billion won, with per capita local debt of 124,000 won, which is lower than the average for similar local governments (167,000 won).

In particular, the city was evaluated as having pursued sound and efficient financial management, with debt decreasing by 32.1 billion won compared to the previous year through stable debt repayment via local debt redemption fund management.

Uijeongbu City discloses the results of financial management for the previous year every August, and will continue to make efforts to ensure financial transparency and sound fiscal management by posting disclosure matters on the website as needed.