Request for Approval(Mayor)
- The Mayor should prepare the statement of settlement within 90 days after the accounting is closed.
Review(the chairperson of budget & settlement committee)
- Addition of the letter of opinions prepared by the member of settlement appointed by the council and the council' request for the settlement
Resolution(the general assembly)
- Check whether a budget has been executed legally and reasonably as approved by the council The approval of settlement is to be controlled for the results of revnue and expenditure for a fiscal year, which shall be complete after the approval of the council. It is not possible to invalidate or cancel a budget already enforced, which may, however, be utilized as the reference materials for the efficient operation of financial plans for the future
Budget procedures
- Budget plan is the financial scale of Gwangyang-si for a year. The draft is prepared by the Mayor and reviewed and confirmed by the council; its settlement requires the approval of the council. It requires the strict procedure of review and resolution in order to avoid wasteful use of taxes.
Sumission of budget plan(Mayor)
- Should be submitted to the council 40 days prior to the commencement of a financial year
Review(chairperson of the committee of budget and settlement)
- The chairperson may not increase amounts or allocate new accounts without concent of the Mayou. After submitting the budget plan, the Mayor may submit revised budget plan if inevitably modifying the content.
Review & Resolution(general assembly)
- Should be resolved 10 days prior to the commencement of a financial year The chairperson should transfer the resolved budget plan to the Mayor within 3 days It is not possible to invalidate or cancel a budget already enforced, which may, however, be utilized as the reference materials for the efficient operation of financial plans for the future