A Study on Early Acquisition of Consolidated Fiscal Expenditure Data for Local Governments

Government finances in Republic of Korea are made publicly available through various government data sites such as Open Fiscal Data, Local Educational Financial Statistics Information System, and Local Finance Integrated Open System. The data is provided on an annual, monthly, and daily basis for revenue and expenditure. However, before the accounts are finalized, most of the data does not provide a net total that filters out indemnification expenditures and internal transactions, and it usually takes at least 18 months to secure finalized net data. In various social sectors such as healthcare and social welfare, the scale of expenditures is rapidly changing, and it is becoming increasingly important to quickly and accurately secure net data to respond to these changes in a timely manner. This paper proposes a method to rapidly extract such net data by applying a net filter to the daily expenditure data of local governments. This approach allows for the immediate estimation of local government net data one day after each expenditure registration. We hope that by quickly estimating the net data of government expenditures, this method will aid in faster decision-making and timely actions.