Treasury to release Sh77bn county cash
PHOTO | FILE Treasury Cabinet Secretary Henry Rotich. The National Treasury is expected to release Sh77.4 billion to the 47 county governments once President Kenyatta signs the County Allocation of Revenue (amendment) Bill into law.
What you need to know:
The money is part of the Sh345 billion approved for counties and was scheduled to be disbursed in the first quarter after the end of the financial year on June 30.
The amendment Bill was first passed by the Senate on November 9 and transmitted to the National Assembly for concurrence as required by the Public Finance Management Act.
In the 2017/2018 financial year, Parliament approved Sh345 billion for disbursement to the counties.
The National Treasury is expected to release Sh77.4 billion to the 47 county governments once President Kenyatta signs the County Allocation of Revenue (amendment) Bill into law.
The money is part of the Sh345 billion approved for counties and was scheduled to be disbursed in the first quarter after the end of the financial year on June 30.
However, the disbursement delayed because some amendments had to be made on the County Allocation of Revenue Act.
The amendment Bill was first passed by the Senate on November 9 and transmitted to the National Assembly for concurrence as required by the Public Finance Management Act.
On Tuesday, Senate Speaker Ken Lusaka told the senators that the Bill would now be transmitted to President Kenyatta for assent having been approved by the National Assembly without amendments.
RESOURCES
The law on public finance provides that the Bill, which provides the formula for sharing of resources to the counties, must be considered by the two Houses.
In the 2017/2018 financial year, Parliament approved Sh345 billion for disbursement to the counties.
Senators had accused National Treasury CS Henry Rotich of derailing operations of the counties following the delay in releasing the funds six months into the current financial year.
Council of Governors chairman Josephat Nanok also weighed in, accusing the CS of sabotaging the counties.
DELAY
But Mr Rotich defended the delay, citing the variance between the disbursement schedule and the County Allocation of Revenue Act passed hurriedly before the August 8 elections.
Mr Nanok had said the National Treasury’s decision to delay releasing the funds was not only affecting development projects but also violating the law.
Attorney-General Githu Muigai had said the schedule of disbursement approved by the Senate after the August elections was at variance with the County Allocation of Revenue Act passed just before the polls and needed to be harmonised first.
