288 public institutions were assisted by government funding in the form of contribution, investment, subsidy, and fiscal loans to carry out projects supervised by government. The FY 2011 budget for assisting government projects, calculated by the National Assembly Budget Office, reached 35.3 trillion won, which accounts for 11.4%. This plays a critical role in examining settlement of accounts by the National Assembly. Moreover, debt is likely to increase by .463.5 trillion won and reach over 402.8 trillion won, national debt.
Public institutions have executed public services based on revenues from various sources such as allotment, contract, monopoly, and internal gain. If the National Assembly examines settlement of accounts in accordance with line ministries, performance of public institutions is hard to assess based on various revenues from outside because parliamentary examination mainly focuses on its budget which is directly assisted by the government.
The National Assembly Budget Office published “Evaluation of FY 2011 Settlement of Accounts of Public Institutions” to assist settlement examinations of the National Assembly. NABO strives to conduct comprehensive evaluations of major projects run by revenue from contracts, monopolies, and internal programs. NABO also tries to analyze its financial stability and continuity.
This book contains focused analysis of public institutions’ financial debt, safety regulation systems for nuclear power and relevant public institutions, the problems of circulating the marginal charge of public utility services, employment status and monitoring systems, problems with pension oriented fund management, movement of agencies, preliminary feasibility tests, and assessment of financial effects after adopting IFRS (International Financial Reporting Standards). In addition, it also assessed the financial status and performance of major public institutions such as the Korea Land and Housing Corporation, Korea Railroad, the Small & Medium Business Corporation, the National Health Insurance Corporation, and the Korea Racing Authority.
Public Institution Evaluation Division
Public institutions have executed public services based on revenues from various sources such as allotment, contract, monopoly, and internal gain. If the National Assembly examines settlement of accounts in accordance with line ministries, performance of public institutions is hard to assess based on various revenues from outside because parliamentary examination mainly focuses on its budget which is directly assisted by the government.
The National Assembly Budget Office published “Evaluation of FY 2011 Settlement of Accounts of Public Institutions” to assist settlement examinations of the National Assembly. NABO strives to conduct comprehensive evaluations of major projects run by revenue from contracts, monopolies, and internal programs. NABO also tries to analyze its financial stability and continuity.
This book contains focused analysis of public institutions’ financial debt, safety regulation systems for nuclear power and relevant public institutions, the problems of circulating the marginal charge of public utility services, employment status and monitoring systems, problems with pension oriented fund management, movement of agencies, preliminary feasibility tests, and assessment of financial effects after adopting IFRS (International Financial Reporting Standards). In addition, it also assessed the financial status and performance of major public institutions such as the Korea Land and Housing Corporation, Korea Railroad, the Small & Medium Business Corporation, the National Health Insurance Corporation, and the Korea Racing Authority.
Public Institution Evaluation Division