Public institutions are supported by government grants in various forms: contribution, financial loan, investment and subsidy. Government grants aims to operate programs of public institutions based on other Acts.
The National Assembly Budget Office (NABO) estimates total amount of FY 2010 government grants as 32.2 trillion won, which accounts for 10.4 percent of total budget (309 trillion won) for this year. On the other hand, public institutions’ debt size reached 386.6 trillion won in 2010, taking up 98.4 percent of total national debt (392.8 trillion won). Thus, great significance should be placed on the settlement of account of these institutions in the National Assembly.
Public institutions carry out public interest programs based on earnings from its business or aid by the state, a local government, a private sector, etc․and the derivative revenue yielded from such revenue. If settlement was implemented mainly on the budget required program that compiled by department, it means they only look into the budget directly granted by government. Therefore, it is difficult to evaluate program outcome, as well as earnings from various revenues of the Public institutions properly.
With the aim of assisting settlement examination of the National Assembly, NABO publishes this “Evaluation on FY 2010 Settlement of Public Institution.” This report also strives to include not only comprehensive evaluation but also the institution’s financial stability and durability.
This report conducts aggregate analysis in line with public institutions’ debt, its scope and financial debt and contingent liability. It also contains main analysis on problems such as real estate project financing, challenge of public institutions designation, excessive payment on employment and welfare service and achievement of university hospital program by government aid.
In addition, it contains evaluation on financial status and achievement of major public institutions such as Korea Land and Housing Corporation (LH), Korea Electronic Power Corporation (KEPCO) and Korea Water Resource Corporation (Kwater), etc.
The National Assembly Budget Office (NABO) estimates total amount of FY 2010 government grants as 32.2 trillion won, which accounts for 10.4 percent of total budget (309 trillion won) for this year. On the other hand, public institutions’ debt size reached 386.6 trillion won in 2010, taking up 98.4 percent of total national debt (392.8 trillion won). Thus, great significance should be placed on the settlement of account of these institutions in the National Assembly.
Public institutions carry out public interest programs based on earnings from its business or aid by the state, a local government, a private sector, etc․and the derivative revenue yielded from such revenue. If settlement was implemented mainly on the budget required program that compiled by department, it means they only look into the budget directly granted by government. Therefore, it is difficult to evaluate program outcome, as well as earnings from various revenues of the Public institutions properly.
With the aim of assisting settlement examination of the National Assembly, NABO publishes this “Evaluation on FY 2010 Settlement of Public Institution.” This report also strives to include not only comprehensive evaluation but also the institution’s financial stability and durability.
This report conducts aggregate analysis in line with public institutions’ debt, its scope and financial debt and contingent liability. It also contains main analysis on problems such as real estate project financing, challenge of public institutions designation, excessive payment on employment and welfare service and achievement of university hospital program by government aid.
In addition, it contains evaluation on financial status and achievement of major public institutions such as Korea Land and Housing Corporation (LH), Korea Electronic Power Corporation (KEPCO) and Korea Water Resource Corporation (Kwater), etc.
Public Institution Evaluation Team