In accordance with national fiscal law, the government has submitted reports of the combined accounts and funds of each central government office in the 2011 fiscal year to the National Assembly on May 31st. According to this statement, the total tax revenue in 2011 was 270.5 trillion won, which is 4.3% more than the previous year (216.2 trillion won). The consolidated central government balance in 2011 was 18.6 trillion won surplus. 13.5 trillion won was deficit. Government debt was 402.8 trillion won, which is a 29.0 trillion won increase over 2010 (373.8 trillion won). Weight on GDP was 32.6%, which is a 0.7% increase over 2010 (31.9%).
Based on the national financial settlement report, the National Assembly Budget Office has analyzed the action plan, enforcement, and outcome of fiscal business of 2011. We have published the “series of 2011 fiscal year final account analyses.” It consists of fifteen volumes.
- The summary of settlement contains analysis on the status of 2011 fiscal operations, lists of deliberations on the 2011 budget bill, main points and characteristics, amounts, performance reports, financial statements, and a gender-responsive budget settlement report.
- The analysis of settlement by departments has six volumes. Each volume is sorted according to the standing committees in the National Assembly so that respective projects from the agencies under the committees were thoroughly analyzed. A total of 587 programs were found to be problematic. The types of problems were inappropriateness of enforcement management (181 programs), poor formation of budget (77 programs), weakness in enforcement (52 programs), and unfavorable program outcomes (50 programs).
- The focus analysis of settlement has three volumes and contains fiscal total amounts, multiple department programs, and 37 other programs and their major important issues were thoroughly analyzed. The following are analyzed themes.
Volume 1: fiscal summary
1. The settlement analysis of FY 2011 by account and function
2. The transfer, change, disuse and analysis of change in fund management plan
3. Analysis of 2011 carried-over program
4. Analysis of reserve funds enforcement
5. Analysis of account’s surplus fund
6. Analysis about observance of 2011 budget attached opinion
7. Fund financial analysis
8. Analysis about management of excess fund
9. Analysis of FY 2011 mandatory expenditure
10. Evaluation of FY 2011 outcome report
Volume 2: fiscal management
1. Analysis of non-scheduled allocation
2. Analysis of budget usage for other purposes
3. Analysis of weak programs’ periodic enforcement performance
4. Analysis of change in budget increased/decreased(variation) at the National Assembly
5. Analysis of final account on new fiscal program
6. Analysis of national finance that are managed off budget
7. Analysis of government lending and interests gap aid
8. Analysis of programs enforced and managed by several departments
9. Analysis of private indirect aid
10. Analysis of financial grants to local government for general purposes
11. Analysis of financial grants for local education
12. Evaluation of current debt in public institution and fiscal soundness
13. Evaluation of FY 2011 government aid for public institution
Volume 3: fiscal program
1. Analysis of tuition aid for education
2. Analysis of current situation for R&D area investment and management
3. Analysis of small or medium sized business aid program
4. Analysis of four major rivers restoration
5. Analysis of regional balance development program’s current situations and tasks
6. Analysis of over ten years continuous program
7. Analysis of 5 west sea islands program
8. Analysis of global youth leader training program
9. Analysis of lower income group job-seeking program
10. Analysis of solutions for issues in aging
11. Analysis of the eight social insurances fiscal management
12. Analysis of the government voucher program
13. Analysis of national/public hospital support program
14. Analysis of multicultural family support program
Budget Analysis Office
Based on the national financial settlement report, the National Assembly Budget Office has analyzed the action plan, enforcement, and outcome of fiscal business of 2011. We have published the “series of 2011 fiscal year final account analyses.” It consists of fifteen volumes.
- The summary of settlement contains analysis on the status of 2011 fiscal operations, lists of deliberations on the 2011 budget bill, main points and characteristics, amounts, performance reports, financial statements, and a gender-responsive budget settlement report.
- The analysis of settlement by departments has six volumes. Each volume is sorted according to the standing committees in the National Assembly so that respective projects from the agencies under the committees were thoroughly analyzed. A total of 587 programs were found to be problematic. The types of problems were inappropriateness of enforcement management (181 programs), poor formation of budget (77 programs), weakness in enforcement (52 programs), and unfavorable program outcomes (50 programs).
- The focus analysis of settlement has three volumes and contains fiscal total amounts, multiple department programs, and 37 other programs and their major important issues were thoroughly analyzed. The following are analyzed themes.
Volume 1: fiscal summary
1. The settlement analysis of FY 2011 by account and function
2. The transfer, change, disuse and analysis of change in fund management plan
3. Analysis of 2011 carried-over program
4. Analysis of reserve funds enforcement
5. Analysis of account’s surplus fund
6. Analysis about observance of 2011 budget attached opinion
7. Fund financial analysis
8. Analysis about management of excess fund
9. Analysis of FY 2011 mandatory expenditure
10. Evaluation of FY 2011 outcome report
Volume 2: fiscal management
1. Analysis of non-scheduled allocation
2. Analysis of budget usage for other purposes
3. Analysis of weak programs’ periodic enforcement performance
4. Analysis of change in budget increased/decreased(variation) at the National Assembly
5. Analysis of final account on new fiscal program
6. Analysis of national finance that are managed off budget
7. Analysis of government lending and interests gap aid
8. Analysis of programs enforced and managed by several departments
9. Analysis of private indirect aid
10. Analysis of financial grants to local government for general purposes
11. Analysis of financial grants for local education
12. Evaluation of current debt in public institution and fiscal soundness
13. Evaluation of FY 2011 government aid for public institution
Volume 3: fiscal program
1. Analysis of tuition aid for education
2. Analysis of current situation for R&D area investment and management
3. Analysis of small or medium sized business aid program
4. Analysis of four major rivers restoration
5. Analysis of regional balance development program’s current situations and tasks
6. Analysis of over ten years continuous program
7. Analysis of 5 west sea islands program
8. Analysis of global youth leader training program
9. Analysis of lower income group job-seeking program
10. Analysis of solutions for issues in aging
11. Analysis of the eight social insurances fiscal management
12. Analysis of the government voucher program
13. Analysis of national/public hospital support program
14. Analysis of multicultural family support program
Budget Analysis Office