Tam Ky adjusts budget estimates

Land projects put up for auction but few buyers are one of the reasons why Tam Ky has lost revenue. Photo: AS

By the end of September 2024, the total budget revenue in Tam Ky will reach nearly 64% of the city's assigned estimate; of which, the province's revenue management will reach nearly 72%, and the city's revenue management will reach nearly 52%.

With that situation, according to the City People's Committee, it is expected that by the end of 2024, the total budget revenue in the area will reach nearly 90% of the city's assigned estimate; of which the source managed by the province will reach more than 100% of the estimate, the source managed by the city will reach 131% of the province's assigned estimate, but compared to the city's assigned estimate, it will only reach more than 74%.

According to calculations by the Tam Ky financial planning sector, most revenues have reached and exceeded the annual plan; however, land use fee revenue is expected to only reach 55% of the plan, the lowest in recent years.

Based on the revenue results and estimated revenue potential in the remaining months of 2024, the city is forced to adjust the 2024 budget revenue in the direction of reducing the estimated land use fee revenue from 400 billion VND to 220 billion VND.

Accordingly, the reduction in the estimated development investment expenditure from land use fee revenue corresponds to a reduction of VND 180 billion in revenue. Thus, after adjustment, the total budget revenue in the area in 2024 is VND 1,638.7 billion; of which the province manages the collection of VND 1,104 billion, the city manages the collection of VND 529.6 billion. Total state budget expenditure is VND 1,182.7 billion; of which development investment expenditure is VND 451 billion.

According to the city People's Committee leader, 60 projects that have not completed investment procedures, are stuck with site clearance, and have difficulty spending all their capital will be cut by VND214 billion; at the same time, 17 ongoing projects that need capital due to good progress will be adjusted to increase by VND34.9 billion.

Mr. Nguyen Quang Tuan - Head of the Finance and Planning Department of Tam Ky City said that the construction of annual revenue projections is based on a medium-term plan, while the spending task is very large, if the revenue is not collected drastically, it will be very difficult for investment.

The local annual budget is very low, only 18-20 billion VND out of the total investment of nearly 500 billion VND, mainly from city revenue.

In 2024, Tam Ky Land Fund Development Center auctioned 64 land lots with a total starting price of 140 billion VND but only successfully auctioned 3 lots with a value of 4.2 billion VND. In addition, this year the city continues to prioritize land for resettlement, but compensation and site clearance work encountered difficulties, so the resettlement revenue did not meet the plan...

Chairman of Tam Ky City People's Committee - Mr. Nguyen Duy An said, adjusting the 2024 budget revenue and expenditure is necessary, but the important thing is that after the adjustment, we must learn from experience in planning, attracting investment, and implementing projects that are close to reality.

Notably, the local capital demand is very large, the 32 infrastructure connection projects alone cost more than 2,000 billion VND, the province supports 70 billion VND, the rest comes from land. Other programs and projects such as the Tam Ky river embankment and the underground drainage system on Trung Nu Vuong street also use land as funding.

“A lot of investment needs also come from land revenue, while land cannot be sold. Of course, the reason why projects have not completed investment procedures by November is also due to regulations, master plans, and the new Land Law. That is also a common difficulty of the whole province, which needs to be shared and solutions found,” Mr. An emphasized.

Source: https://baoquangnam.vn/tam-ky-dieu-chinh-du-toan-ngan-sach-3145210.html