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Busan Metropolitan City Ordinance on the Adjustment of Financial Resources of Autonomous Boroughs (Gu)

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Busan Metropolitan City Ordinance on the Adjustment of Financial Resources of Autonomous Boroughs (Gu)

• Article 1(Purpose)
• The purpose of this Ordinance is to prescribe the adjustment of financial resources of autonomous boroughs (Gu) pursuant to Article 160 of the Local Autonomy Act and Article 57 of the Enforcement Decree of the same Act for the rational adjustment of resources and balanced development between the city and the autonomous boroughs.

• Article 2(Definitions of Terms)
• The definitions of terms used in this Ordinance are as follows.
  • 1. Adjustment Grant: Financial resource prescribed in Article 3 which Busan Metropolitan City (hereinafter referred to as the "City") grants pursuant to Article 5 to autonomous boroughs which face financial shortage.
  • 2. Standard Amount of Demand: Amount calculated under Article 7 to rationally measure the demand of financial resources of each autonomous borough.
  • 3. Standard Amount of Income: Amount calculated under Article 6 to rationally measure the financial Income of each autonomous borough.
  • 4. Measuring Items: Common and standard types of expenses established and classified according to their function and nature to rationally measure the standard amount of demand.
  • 5. Measuring Units: Units that can be used to rationally calculate the standard amount of demand which allow the use of same standard within each measuring item.
  • 6. Cost per Unit: Cost of unit that is used for each measuring item to calculate the standard amount of demand.

• Article 2-2(Type of Adjustment Grant)
• Adjustment grants shall either be a general adjustment grant or a special adjustment grant.

• Article 3(Source of Adjustment Grant)
• ① The Mayor of Busan Metropolitan City (hereinafter referred to as the "Mayor") shall secure adjustment financial resources for autonomous boroughs(hereinafter referred to as the "Adjustment Grant") to rationally adjust financial resources among the City and autonomous boroughs in accordance with what is prescribed in this Ordinance.
• ② Sources of the adjustment grant shall be 51/100 of the total amount of acquisition tax and registration tax imposed and collected of the year concerned under Article 5 of the Local Tax Act(hereinafter referred to as the "Adjustment Tax"), and the adjusted amount pursuant to Article 4, Paragraph 2.
• ③ Sources of the special adjustment grant shall be within 5/100 of the Adjustment Grant of the year concerned under Paragraph 2.

• Article 4(Appropriation of Budget)
• ① The Mayor shall appropriate the adjustment grant under this Ordinance in the City budget every year.
• ②The difference of adjustment grant due to the difference between the estimated amount and settled accounts of the Adjustment Tax under Article 3, Paragraph 2, shall be appropriated and settled in the City budget within no more than two fiscal years.

• Article 4(Appropriation of Budget)
• ① The Mayor shall appropriate the adjustment grant under this Ordinance in the City budget every year.
• ②The difference of adjustment grant due to the difference between the estimated amount and settled accounts of the Adjustment Tax under Article 3, Paragraph 2, shall be appropriated and settled in the City budget within no more than two fiscal years.

• Article 5(Grant of Adjustment Grant)
• ① The general adjustment grant shall be given only to an autonomous borough of which the standard amount of income calculated yearly under Article 6 and 7 is less than the standard amount of demand. The grant shall be given based on the amount of shortage (hereinafter referred to as the "Shortage Amount of Financial Resources").
• ② When the total amount of general adjustment grant is less than the total Shortage Amount of Financial Resources, the total amount of general adjustment grant shall be adjusted by the fixed ratio based on the shortage. However, if the shortage is noticeably big, the Busan Metropolitan City Ordinance shall be amended.
• ③ Special adjustment grant shall be given to any of the following cases.
  • 1. When incentives are given to boroughs which tried to expand local tax income, etc.
  • 2. When an autonomous borough has special financial demand or decrease in tax income after its budget has fixed.

• Article 6(Calculation of Standard Amount of Income)
• ① The standard amount of income shall be the amount of income of the autonomous borough that is calculated using the standard tax rate which is stipulated in this Ordinance. The tax rate shall be equivalent to 80/100 of the standard tax rate of the Local Tax Act.
• ② If the standard amount of income calculated under Paragraph 1 is extremely unreasonable, it may be adjusted with the other income such as the subsidies for collection expenses, etc.

• Article 7(Calculation of Standard Amount of Demand)
• ① The standard amount of demand is the total amount of money calculated by multiplying each numerical value of measuring unit of each measuring item prescribed in this Ordinance by the cost per unit concerned.
• ② The measuring units of each measuring item are on the Attached Table 1, the numerical value of each measuring unit shall be based on the Attached Table 2, and the cost per unit shall be determined in a Municipal Rule within the limit of this Ordinance.
• ③ If the calculation of the standard amount of demand of each autonomous borough is extremely unreasonable due to the neglect of actual demand, mechanical application, or inflation with respect to the measuring items, measuring units and cost per unit prescribed in Paragraph 1 and 2, it may be adjusted by adding up certain amount of actual demand.

• Article 8(Calculation of General Adjustment Grant and Notification of Decision on Grant)
• The Mayor shall estimate and appropriate the amount of general adjustment grant to be given to each borough, and shall notify each borough of the following year's amount before each borough draws up its budgets.

• Article 9(Submission of Data with Respect to the Calculation of Adjustment Grant)
• ① The Mayor may have each head of boroughs prepare data necessary for the calculation of adjustment grants to be given to boroughs and submit them to the Mayor.
• ② Each head of boroughs shall provide and manage a ledger that states the basic matters for the data to be submitted pursuant to Paragraph 1.
• ③ With respect to the calculated data submitted pursuant to Paragraph 1, the Mayor may examine them and, if needed, investigate or confirm them on site.

• Article 10(Readjustment of Unfair Grant)
• ① When an autonomous borough unjustly received or attempts to do such by exaggerating or falsely stating the data necessary for calculating the adjustment grant, the Mayor may order for a repayment of the amount that exceeded what the autonomous borough concerned could justly have received, or reduce the amount that is to be unjustly granted.
• ② The amount of repayment and reduction pursuant to Paragraph 1 may be used for other autonomous boroughs or be added to the financial resources of adjustment grants of the following year.

• Article 11(Objection to Adjustment Grant)
• ① The leader of each borough may raise objection regarding the basis of calculation of the Adjustment Grant or other things to the Mayor within 30 days after receipt of notification of decision on grant pursuant to Article 8.
• ② When the Mayor receives an objection pursuant to Paragraph 1, the Mayor shall examine that within 30 days after receipt of objection and notify the result to the head of borough concerned.

• Article 12(Examination on Financial Affairs)
• The Mayor may conduct an examination on financial affairs of boroughs (Gu) and counties (Gun) to guarantee the effectiveness and soundness of local finance.