Pyeongtaek City Compiles 20.211 Trillion Won Budget for Next Year...2.0% Increase from Previous Year

[Suwon Ilbo=Reporter Jung Jun-sung] Pyeongtaek City has compiled a budget of 20.211 trillion won for 2022, an increase of 390 billion won (2.0%) from 19.821 trillion won this year.

Among this, the general account stands at 16.931 trillion won (up 129.1 billion won, 8.3% increase from the previous year), and the special account is 3.28 trillion won (down 90.1 billion won, 21.5% decrease from the previous year), with significant increases in budgets for industry, small and medium-sized enterprises, energy sectors, and agriculture, forestry, marine and fisheries sectors.

Despite difficult fiscal conditions with increased welfare expenditures, increased local government burden for national and provincial subsidy projects, the city announced that it has compiled the budget by maximizing available resources with emphasis on transportation and logistics sectors, regional economic revitalization sectors, and urban environment improvement sectors where citizens can feel improved quality of life.

Examining major revenue sectors in the general account, the city's own resources including local taxes and non-tax revenues for next year are 703.7 billion won, local transfer tax and adjustment grants are 326.5 billion won, dependent resources such as national and provincial subsidies are 612.9 billion won, and other reserve revenues are 50 billion won. Own revenues saw a slight increase, and due to active efforts to secure national and provincial funds, increases in dependent resources, and increases in own-source revenues from with-corona and economic recovery, the general account increased 8.3% compared to the previous year.

General account expenditures consist of 833.3 billion won in own projects and 859.8 billion won in national and provincial subsidy projects. Among these, own projects are allocated 542.6 billion won for policy projects, 200.1 billion won for administrative operation expenses, and 90.6 billion won for financial activities including transfers to special accounts and funds.

By expenditure sector, the welfare and health sector accounts for 665 billion won or 39% of the total, an increase of 73.4 billion won (12%) from the previous year. Particularly, the industry, small and medium-sized enterprises and energy sector increased 39.6 billion won or 151 billion won (61.6%) compared to the previous year.

Followed by budgets in agriculture, forestry, marine and fisheries (131.9 billion won, 43.5%), roads and logistics (191.5 billion won, 16.1%), and environment (172.9 billion won, 14.6%) sectors.

The city set its basic direction on citizen-centered financial management that strengthens regional economic revitalization and agricultural and social welfare, and allocated budgets across seven priority sectors: ▲locally-tailored economic city 31.4 billion won ▲future high-tech city centered on people 244 billion won ▲warm welfare and education city enjoyed by all citizens 703.8 billion won ▲international cultural city of shared happiness and abundant life 75.7 billion won ▲clean city for dreaming the future 222.5 billion won ▲happy rural city where anyone wants to live 104.7 billion won ▲communication city where participation becomes daily routine 311 billion won.

Meanwhile, the 2022 budget will be confirmed at the Pyeongtaek City Council plenary session on the 17th of next month.