Uiwang City Finalizes First Supplementary Budget of 311.4 Billion Won for This Year

Uiwang City announced on the 10th that it has finalized the first supplementary budget of 311.4 billion won for this year through a city council resolution.

The supplementary budget was funded by increased non-tax revenues, local transfer taxes, financial transfer funds, and changes in national treasury subsidies. The general account was set at 266.9 billion won, and other special accounts for public enterprises at 44.5 billion won, totaling 311.4 billion won.

The general account revenue budget increased by 17 percent compared to the original budget due to sound fiscal management by Uiwang City. Additionally, the expenditure budget prioritized projects that could not be reflected in the original budget due to fiscal conditions.

Major investment projects have been focused on key agenda items including construction of a municipal daycare center in Wanggok-dong, establishment of a community center in Gocheon-dong, road development between National Route 1 and Gunpo City boundary, creation of leisure green space around Bara Mountain and the second phase of the natural learning park project, and contributions to rail bike construction projects.

A city official stated, "Although there have been difficulties in securing local tax revenues due to continued domestic economic slowdown, we have minimized unnecessary budgets and focused on stabilizing livelihoods and revitalizing the local economy."