Suwon Special Metropolitan City Conducts '2022 Fiscal Year Budget Audit' for Enhanced Budget Execution Transparency

[Suwon Ilbo=Reporter Jung Jun-seong] Suwon Special Metropolitan City announced on the 9th that it is conducting the '2022 Fiscal Year Suwon City Budget Revenue and Expenditure Audit' from the 24th of last month through the 13th of this month to ensure transparency in budget execution.

In this audit, the city is comprehensively examining the budget revenue and expenditure settlement for the 2022 fiscal year's general account and special accounts including public enterprises, as well as bonds, liabilities, funds, public property, and goods.

Budget audits are conducted not only through document reviews but also at actual sites where budgets are being spent.

On the 4th, audit committee members visited the construction site of the new Suwon City Council building and the Younghung and Ilwol Arboretums, conducting focused inspections on construction progress and proper budget operations.

Last year, Suwon City's budget was 3.871 trillion won, a 1.7% increase from the previous year, and local tax revenue increased 13.1%, from 1.1442 trillion won in 2021 to 1.2938 trillion won in 2022.

Among the total budget, the 'Social Welfare' sector accounted for the largest share at 41.7%, followed by 'General Public Administration' at 13.3%, 'Contingency Reserves and Others' at 10.9%, and 'Land and Regional Development' at 7.2%.

As of 2022, Suwon City's assets reached 19.3469 trillion won, a 17.6% increase from the previous year. The composition of assets includes 'Social Infrastructure such as Roads' at 61.3%, 'Resident Convenience Facilities including Parks' at 23.8%, 'General Tangible Assets such as Vehicles and Equipment' at 7.2%, and 'Liquid Assets convertible to cash' at 7.7%.

Hong Jong-chul, Chairperson of the Suwon City Budget Audit Committee, stated, "Our city's fiscal self-sufficiency stands at 63.12%, and efforts to increase tax revenue are necessary to secure fiscal autonomy," and urged, "Suwon City and the Suwon City Council should carefully establish plans for efficient budget execution and make efforts to achieve budget savings."