North Gyeongsang council committee begins review of fiscal year 2025 accounts

The Budget and Accounts Special Committee of the North Gyeongsang Provincial Assembly announced Monday that it will review the fiscal year 2025 settlement accounts and contingency expenditure approval proposals for North Gyeongsang Province and the North Gyeongsang Provincial Office of Education from Tuesday through Wednesday.

On the first day, the committee will focus on the province's fiscal year 2025 revenue and expenditure settlement accounts and contingency spending.

North Gyeongsang Province recorded total revenue of 16.62 trillion won ($12.4 billion) and total expenditure of 15.97 trillion won for fiscal year 2025, leaving a settlement surplus of 652 billion won.

After deducting 460.5 billion won carried over to the following year and 10.9 billion won in subsidy repayments, the net fiscal surplus stands at 180.5 billion won.

On the second day, the committee will turn to the fiscal year 2025 settlement accounts and contingency expenditure approval proposals for the North Gyeongsang Provincial Office of Education.

The education office posted revenue of 5.99 trillion won and expenditure of 5.8 trillion won, leaving a settlement surplus of 188.6 billion won.

Subtracting 120.8 billion won in carryovers and 900 million won in subsidy repayments, the net fiscal surplus comes to 66.9 billion won.

Over the two-day review, the committee will conduct an in-depth examination of the overall fiscal management of both the province and the education office, focusing on the appropriateness and efficiency of budget execution.

Committee Chairman Kim Jin-wook said the review would scrutinize whether funds were spent efficiently and in line with their original purposes, and that any shortcomings identified would be reflected in next year's budget planning and fiscal management.

Meanwhile, the fiscal year 2025 settlement accounts and contingency expenditure approval proposals for North Gyeongsang Province and its special education finance account are scheduled to be submitted for deliberation and a vote at the third plenary session of the 366th North Gyeongsang Provincial Assembly's first regular session on Thursday.