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Busan Metropolitan City Framework Ordinance on the Establishment and Management Of Funds

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BUSAN METROPOLITAN CITY FRAMEWORK ORDINANCE ON THE ESTABLISHMENT AND MANAGEMENT OF FUNDS

Ordinance No. 3873, Oct. 16, 2003

Amended by Ordinance No. 3984, Feb. 16, 2005

  • Article 1 (Purpose)
  • The purpose of this Ordinance is to contribute to the improvement of transparency and efficiency in the administration of the Funds which are established or have already been established in Busan Metropolitan City (hereinafter referred to as the "City") under Article 133 of the Local Autonomy Act, Article 110 of the Local Finance Act and Article 156 of the Enforcement Decree of the Local Finance Act, by providing for fundamental matters concerning the management and administration of those Funds. <Amended by Ordinance No. 3984, Feb. 16, 2005>
  • Article 2 (Scope of Application)
  • Except as otherwise provided in other Acts or subordinate statutes, etc., this Ordinance shall apply to the management and administration of each Fund.
  • Article 3 (Management and Administration of Fund)(1) The Mayor of Busan Metropolitan City (hereinafter referred to as the "Mayor") shall manage and administer each Fund fairly and appropriately in accordance with the purposes of its establishment.
  • (2) In order to manage and administer each Fund efficiently, the Mayor may delegate part of his/her authority to public officials who belong to the City.
  • (3) To ensure that the revenue and expenditure of each Fund are made clear, the Mayor shall open, manage and administer a Fund account separately and deposit the Funds in the Treasury of the City.
  • (4) The general Fund management official referred to in Article 5 (1) 1 may coordinate or adjust matters concerning the management and administration of the Funds which are established in accordance with relevant ordinances.
  • Article 4 (Fiscal Year)
  • The fiscal year of each Fund shall begin on January 1 and end on December 31 of each year.
  • Article 5 (Appointment, etc. of Public Officials to Manage Funds)(1) In order to manage and administer the Funds efficiently under Article 3 (1), the Mayor shall appoint public officials to manage them as follows:
    • 1. General Fund management official: the Chief of the Planning and Management Office;
    • 2. Fund administration official: the chief of a bureau in charge of the relevant Fund;
    • 3. Assistant Fund administration official; the head (director) of a division in charge of the relevant Fund; and
    • 4. Fund accounting clerk; the Grade Ⅴ public official in charge of the relevant Fund.
  • (2) The provisions concerning an accounting official and a collection official of the Local Finance Act shall apply mutatis mutandis to a Fund administration official and an assistant Fund administration official, and those concerning an expenditure clerk and an accounting clerk of the said Act shall do so to a Fund accounting clerk. <Amended by Ordinance No. 3984, Feb. 16, 2005>
  • Article 6 (Restriction on Establishment of Fund)
  • An organ of the City which intends to establish a Fund shall, in advance, consult with the general Fund management official, and such establishment shall be deliberated on by the Busan Metropolitan City's Administration Coordination Committee.
  • Article 7 (Deliberation, etc. on Administration of Fund) (1) There shall, in principle, be established a Fund Administration Deliberation Committee (hereinafter referred to as the "Committee") to deliberate on the following matters concerning the management and administration of each Fund, but those matters may be deliberated on by the Busan Metropolitan City's Financial Plan Deliberation Committee instead, except as provided for in the individual ordinance on each Fund:
    • 1. Establishment and modification of a plan for the administration of each Fund; and
    • 2. Other matters which the Mayor refers to the said Fund Administration Deliberation Committee for deliberation and with respect to which he/she deems it necessary to do so.
  • Article 8 (Establishment of Plan for Administration of Fund)(1) The general Fund management official shall prepare guidelines for the establishment of plans for Fund administration for the next fiscal year and communicate those guidelines to Fund administration officials.
  • (2) Fund administration officials shall prepare draft plans for Fund administration for the next fiscal year in accordance with guidelines for the establishment of plans for Fund administration and shall, after deliberation by the Committee, submit those draft plans to the general Fund management official.
  • (3) The general Fund management official shall, after reviewing and coordinating the appropriateness, etc. of financial resources raising and administration programs included in draft plans for Fund administration prepared and submitted by Fund administration officials, prepare a final draft plan therefor and report to the Mayor, who shall submit the final draft plan to the Busan Metropolitan Council (hereinafter referred to as the "Council").
  • Article 9 (Contents of Plan for Fund Administration) (1) A draft plan for Fund administration under Article 8 (2) shall consist of the following:
    • 1. General provisions concerning the administration;
    • 2. Financial resources administration programs; and
    • 3. Other attached documents.
  • (2) Financial resources administration programs referred to in paragraph (1) 2 shall be divided into revenue programs and expenditure programs, and the revenue programs shall be subdivided into major particulars and detailed particulars on the basis of character and the expenditure programs shall be so subdivided on the basis of character or project.
  • (3) Major particulars and detailed particulars referred to in paragraph (2) shall consist of chapters, sections and paragraphs and of sub-paragraphs and items, respectively.
  • Article 10 (Modification of Plan for Fund Administration)(1) If there is any modified matter which involves exceeding the expenditure amount for each major particular reflected in a plan for Fund administration for the year involved, a draft plan for such modification shall be prepared and submitted to the Council: Provided, That in any case in which there is a necessity to implement the excess expenditure urgently due to disasters, natural calamities, etc., such implementation shall, within thirty days thereafter, be reported to the Council.
  • (2) Fund administration officials may change the expenditure amount for each detailed particular within the limits of that for each major particular reflected in a plan for Fund administration: Provided, That when they intend to add any new detailed particular of expenditure to that plan, they shall consult with the general Fund management official.
  • Article 11 (Final Accounts of Fund)(1) Fund administration officials shall, not later than one month after the end of each fiscal year, prepare a report on final accounts of each Fund and submit that report accompanied by a balance certificate to the general Fund management official.
  • (2) The Mayor shall submit a report on final accounts of each Fund referred to in paragraph (1) to the Council.
  • Article 12 (Sunset Provision)
  • The period during which each Fund (excluding that which shall be compulsorily established and administered in accordance with Acts and subordinate statutes) is administered, shall not exceed five years: Provided, That such period may, when deemed necessary, be extended with the resolution of the Council.
  • Article 13 (Repeal or Integration of Funds)
  • In any case in which a Fund falls under any of the following subparagraphs, the Mayor may repeal the Fund or integrate it with any of other Funds:
    • 1. In any case in which the purpose of the establishment of the said Fund is accomplished;
    • 2. In any case in which it is deemed impossible to accomplish the purpose of the establishment of the said Fund; or
    • 3. In any case in which the functions of the said Fund are similar to or overlap with those of any of special accounts or other Funds.
  • Article 14 (Financial Guarantee)
  • The Busan Metropolitan City Ordinance on Financial Guarantee for Accounting-related Public Officials shall apply mutatis mutandis to financial guarantee for Fund-related public officials. <Amended by Ordinance No. 3984, Feb. 16, 2005>
  • ADDENDA
  • Article 1 (Enforcement Date)
  • This Ordinance shall enter into force one month after the date of its promulgation.
  • Article 2 (Repeal of Other Ordinances)
  • The Busan Metropolitan City Ordinance on the Establishment and Administration of the Agricultural Enterprises Promotion Fund and the Busan Metropolitan City Ordinance on the Administration of the Local Public Official Education Award Conferment Fund shall be repealed respectively: Provided, That the date of such repeal shall be December 31, 2003.
  • Article 3 Omitted.
  • ADDENDUM
  • This Ordinance shall enter into force on the date of its promulgation.
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