Sejong City has prepared its first supplementary budget worth 210.2 billion won, the city said Monday. The budget consists of 177.7 billion won in general accounts and 32.5 billion won in special accounts.
If passed as proposed by the Sejong City Council, the city's total budget for this year would increase by 210.2 billion won from the original budget to 2.2931 trillion won.
The main revenue sources total 210.2 billion won, including 63.1 billion won in national subsidies, 40 billion won in local taxes, 31.4 billion won in non-tax revenue and 28.2 billion won in local shared taxes.
The city gave top priority to allocating the budget to economic revitalization, livelihood and welfare projects, and the key tasks of the fifth municipal administration.
To stabilize the livelihood economy, the city plans to increase the local currency (Yeominjeon) budget by 10.7 billion won and issue it without disruption through the end of the year. For citizens and small business owners struggling with high fuel prices, the city allocated 41.7 billion won for high fuel price relief payments.
In addition, the city allocated 380 million won for the Youth Growth Project to expand the foundation for youth self-reliance, and newly allocated 170 million won for a pilot project offering youth work experience through the social solidarity economy to provide young people with practical job experience.
To address the low birth rate problem, the city increased funding by 1 billion won for fertility treatment support for couples with infertility, 800 million won for birth congratulatory payments and 260 million won for father incentive payments. To support vulnerable groups, the city increased basic livelihood benefits by 880 million won and emergency welfare support by 890 million won.
The city also allocated 400 million won for the opening of the newly established Jiphyeon-dong and Sanul-dong community service centers, and set aside 1.2 billion won for the creation of libraries within the Haengbok Nurimteo facilities in Jiphyeon-dong and Sanul-dong.
"Even amid difficult financial conditions, we focused the budget on projects for livelihood recovery and stability and on regional economic revitalization, so we will personally work in the field to ensure that projects directly tied to citizens' lives proceed without disruption," said Cho Su-chang, head of the city's Planning and Coordination Office. "The newly launched fifth municipal administration will do its utmost to make Sejong the central administrative capital for balanced national growth."
This supplementary budget proposal will be finalized at the plenary session on July 30, after preliminary reviews by standing committees and a main review by the Special Committee on Budget and Accounts at the City Council.
