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Current Financial Status

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Budget

Budget

Financial Conditions

Total budget at the onset of 2013 is 236 Billion Won (financial self-reliance rate of 21.91% with local tax for each of the resident in the municipality of 162,000 Won) and continuously increased investment into the areas of social welfare, education, arts, sports, public health and greenery are being made with the goal of improving the quality of lives of residents in the municipality.

Financial Conditions
General Accounts Special Accounts
Annual Revenue Categories Budget Compositional Proportion Annual Revenue Categories Budget Compositional Proportion
Total 2,307 100% Total 53 100%
Self-generated revenue 485 21 Self-generated revenue 32 60.4
  Local tax 333 14.4   Local tax -  
  Non-tax revenue 152 6.6   Non-tax revenue 32 60.4
Externally sourced revenue 1,822 79 Externally sourced revenue 21 39.6
  Local subsidy 43 1.9   Local subsidy -  
  Adjustment grants 313 13.6   Adjustment grants -  
  Government subsidy 1,466 63.5   Government subsidy 21 39.6

Financial Status of Our Municipality

  • Annual budget
    • - During the last 4 years, there is trend of annual increase of 9.50% on the basis of the budget at the onset of fiscal year and average increase of 5.03% on the basis of the final budget
Categories 2009~2013
Categories 2009 2010 2011 2012 2013
Budget Budget Increase rate Budget Increase rate Budget Increase rate Budget Increase rate
Onset 1,642 1,838 11.9 2,005 9.1 2,164 7.9 2,360 9.1
Final 2,189 2,306 5.3 2,399 4 2,537 5.8 - -

- Budge of revenues at the onset of fiscal year of 2013 is composed of self-generated Income accounting for 21.9% and externally sourced income accounting for 78.1%, and, over the last 4 years, the self-generated Income had annual average increase rate of 12.23% while the externally sourced income had average annual increase rate of 8.85%, thereby showing continued increase in both area.

Categories 2009~2013
Categories 2009 2010 2011 2012 2013
Budget Budget Increase rate Budget Increase rate Budget Increase rate Budget Increase rate
Total 1,642 1,838 11.9 2,005 9.1 2,164 7.9 2,360 9.1
Self-
generated income
328 363 10.7 438 20.7 498 13.7 517 3.8
Externally sourced income 1,314 1,475 12.3 1,567 6.2 1,666 6.3 1,843 10.6
Municipal Bond - - - - - - - - -

Comparison of Budget for Daejeon City for 2013

  • The total budget for the Daejeon Metropolitan City at the onset of fiscal year of 2013 is 4.3614 Trillion Won. Budget for the City Hall is 2.927 Trillion Won and the budget for autonomous regions is 1.4344 Trillion Won, of which the budget for our municipality accounts for 5.4% with budget of 236 Billion Won.
Categories, Grand Total, City Hall 2013
Categories Grand Total City Hall 2013
Total Daedeok- gu Dong-gu Jung-gu Seo-gu Yuseong- gu
Total 43,614 29,270 14,344 2,360 2,957 2,607 3,605 2,815
General Accounts 38,023 24,270 13,753 2,307 2,804 2,445 3,475 2,722
Special Accounts 5,591 5,000 591 53 153 162 130 93
Compositional ratio (%) 100.00 67.1 32.9 5.4 6.8 6.0 8.3 6.5

Areas of Key Investment Projects in 2013

Categories, Grand Total, City Hall 2013
Areas Onset of 2013 Onset of 2012 l Increase/ reduction Increase rate (%)
Total 2,360 2,164 196 9.1
General public administration 119 120 11 Δ 1
Public order and safety 5 4 1 25
Education 45 35 10 28.6
Culture and tourism 34 36 Δ 2 Δ 5.6
Environmental protection 56 59 Δ 3 Δ 5.1
Social welfare 1,174 1,035 139 13.4
Public health 49 48 1 2.1
Agriculture, forestry, maritime and fisheries 32 25 7 28
Industries, small and medium enterprises 4 4 - -
Transportation and traffic 240 247 Δ 7 Δ 2.8
National land and regional development 115 79 36 45.6
Miscellaneous 487 472 15 3.2
 

Financial forecast and directions of municipal affairs for 2013

Financial forecast for 2013

  • Forecast for annual income
    • - Local tax revenue is anticipated to increase slightly in reflection of the gradual increase in official land values
    • - Although the source of financial adjustment grant, which is one of the external financial sources, is changing from acquisition tax to ordinary tax, it is nonetheless forecasted to be similar to the last year while the subsidies are forecasted to increase drastically due to expansion of welfare policies.
  • Forecast for annual expenditures
    • - Demands for expenditures related to stabilization of livelihood of ordinary people are anticipated to increase continuously due to display of diverse range of desires of the local residents.
    • - Capacity available for financial expenditures is forecasted not to be substantially improved due to increase in the burden for local expenditures pursuant to the anticipated continuous increase in financial expenditures due to expansion of welfare policy of the central government.

Directions for financial management

  • New projects will be deterred as much as possible, while investment will be concentrated into completion of the continuing projects and pending projects closely related to the daily life of the residents.
  • Maintain the foundation for healthy financial state through retrenchment including maximal reduction of operating costs < Areas of key investment projects for 2013> (Unit: ’00 million won/%) (Unit: ’00 million won/%) (Unit: ’00 million won/%) (Unit: ’00 million won/%) Budget for our municipality for 2012 (Unit: ’00 million won/%)