Ganghwa County's Expenditure Last Year Reached 565.6 Billion Won...21% Increase from Previous Year

[Suwon Ilbo=Reporter Seo Dong-young] Ganghwa County's total expenditure last year reached 565.6 billion won, representing a 21% increase compared to 447 billion won in the previous year.

Based on the general accounting standard, social welfare occupied the largest share of expenditures at 21.14%. This was followed by agriculture, forestry, and fisheries at 17.58%, and land and regional development at 11.67%.

The county announced on the 3rd that it has disclosed the local financial status based on the 2019 settlement results through its website.

The sector with the largest increase in expenditures was agriculture, forestry, and fisheries, which grew from 64.3 billion won in 2018 to 98.1 billion won in 2019, an increase of 33.8 billion won within a year. This was followed by the public order and safety sector, which increased by 22.7 billion won compared to the previous year.

Total revenue last year was 747.7 billion won, an increase of 122 billion won from the previous year. This is 107.7 billion won less than the average for local governments of similar county-level scale.

Ganghwa County's assets totaled 1 trillion 495.6 billion won, an increase of 143.6 billion won compared to the previous year. Liabilities were 17.3 billion won, with an increase of 1.2 billion won compared to the previous year, but the debt-to-asset ratio was only 0.74%, indicating that Ganghwa County has no actual debt.

A county official stated, "Considering the overall situation, Ganghwa County's finances are largely dependent on external funding sources rather than internal revenue, and with no actual debt, the county maintains a relatively stable financial structure," adding "We will continue to make efforts to enhance transparency and accountability in county finances."

Details can be found on the county government website (www.ganghwa.go.kr). For suggestions or inquiries, contact the County Planning and Budget Division (032-930-3322).