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Planning, compilation and review of Budget

1. General Budget for Taipei Municipal Government (TMG)
The budget is a financial plan according to which a government carries out administration programs to attain the policy goals it has set. The budget is also a numerical presentation of the government's general administration. A government must draw up a program and raise the required funds before it launches a construction project, or before it starts to provide services. In this way, it can smoothly carry out administration programs and provide the optimal allocation of resources. Each year from March, the Taipei City Government (TCG) will start to prepare the general budget proposal of TMG in accordance with the Budget Act and Principles for Preparing Central and Local Government Budget, as well as the Manual for Preparing TMG General Budget. Furthermore, the general budget proposal will be prepared sequentially, based on the budget execution and financial conditions of the previous year. Then the general budget proposal will be submitted to Taipei City Council for review before the end of August.

2. Subordinate Agency Budget and Consolidated Table
The operation of municipal business (affairs), a very important area of municipal construction, is also prepared each year from March. The municipal business (affairs), divided into equity special fund and administration special fund, is operated under four important principles: speeding up municipal construction, satisfying the demands of citizens, enhancing the welfare of citizens, and turning the City into an international metropolis of industry and commerce. Based on the rule of commercial operation, the budget of the equity special fund is operated to achieve three goals: improving operation performance, minimizing business loss and maximizing business profit. As for the administration special fund, it will achieve the settled goal of the fund under the principle of maximizing benefits. Additionally, based on the autarkical principle, the administration special fund is also required to acquire more financial sources that can be repaid by themselves, and to recover the whole operation cost in order to reduce its dependence on municipal financing. The administration special fund shall also be prepared in accordance with the Budget Act, budgeting policy of TCG and other related rules. It should be submitted to Taipei City Council for review along with the TMG General Budget Proposal.

3. Relations among General Budget, Agency Budget and Subordinate Agency Budget
The general budget for TMG consists of the total amount of budgetary revenue and expenditure for 25 competent agencies and their subordinates, which totals 117 agency budgets, and the required share of budgetary revenue and expenditure for 4 enterprise funds, with 1 debt service fund, 12 operations funds and 14 special revenue funds, which totals 31 subordinate agency budgets. In addition, raising the amount of debt, revenue from the surplus of previous fiscal year and debt repayment are also included. (The amount of profits to be paid to the treasury, losses to be made up by the treasury and the increase or withdrawal of government investment of the Enterprise Fund of subordinate agency budgets shall be compiled into the general budget; for other categories of the Special Fund, losses to be made up by the treasury and the amount to be paid to the treasury shall be compiled into the general budget.)

4. General Budget Addition/Reduction Plan or Special Budget Proposal
The general budget proposal of TMG is prepared once a year. During a fiscal year, any major administrative event may take place. A general budget addition/reduction plan or special budget proposal, which is independent from general budget, shall be submitted in accordance with the Budget Act to meet the requirements of such events. The compilation, review, implementation and financial statement preparation of the plan or special budget shall generally follow the rules governing the general budget of TMG.

  • Hit: 5356
  • Updated: 2014/11/10 11:47
  • Reviewed: 2017/6/5 10:59

  • Source: Department of Budget, Accounting and Statistics, Taipei City Government