Ulju-gun council approves fiscal 2025 final accounts

The Ulju-gun Council in Ulsan convened the second session of the budget and accounts special committee during its 249th first regular session on Monday, conducting a comprehensive review and approving the fiscal 2025 final accounts based on preliminary examination results from standing committees and audit findings. The approved accounts are set to receive a final vote at the second plenary session on Oct. 30.

Ulju-gun's total revenue for fiscal 2025 came to 1.61 trillion won ($1.2 billion), exceeding the budgeted 1.61 trillion won by 7.8 billion won. Total expenditure stood at 1.33 trillion won, leaving a budget surplus of 285.8 billion won. Compared with the previous year, revenue rose 69.8 billion won and expenditure increased 91.4 billion won, while the surplus shrank by 21.5 billion won.

The budget and accounts special committee conducted a comprehensive review of the appropriateness of budget execution, progress on major projects, and the reasons behind unspent balances and carryover budgets, drawing on preliminary examinations carried out by the administrative welfare committee and the economic construction committee from Tuesday through Thursday last week.

The preliminary examinations by standing committees identified four key problems: repeated carryovers and unused allocations of large-scale budgets, the return of national and municipal subsidies due to unexecuted projects, inaccurate demand forecasting in budget planning, and the setting of superficial performance indicators.

Hwang Yun-dae, chairman of the budget and accounts special committee, said the issues raised during the review — including the recurring problems of budget carryovers and unused funds — would be reflected in future budget planning and county administration to ensure that taxpayers' money is spent efficiently where it is needed most.