Incheon's Namdong-gu has drawn up a 2027 main budget of 1.36 trillion won ($1.01 billion).
According to the district, next year's budget represents a 74.1 billion won increase, or 5.78 percent, from this year.
The general account rises 77.1 billion won to 1.34 trillion won, while the special account falls 2.9 billion won to 16.7 billion won.
Revenue excluding central government and city subsidies, however, shrinks about 15.8 billion won from the previous year to 383.5 billion won, narrowing the district's fiscal headroom.
The social welfare budget grows about 87.3 billion won, or 9.72 percent, to 986.2 billion won, accounting for 73.56 percent of the general account.
District Mayor Lee Byung-rae said the budget "prioritizes allocating resources for people's livelihoods and residents' daily needs, with a focus on investment to revitalize the local economy and build a foundation for future growth."
He went on to say that "for autonomous districts like Namdong-gu, where the share of social welfare spending is high, the fiscal role of the central government and Incheon city is critical."
gilbert@heraldcorp.com
