From: James Muraguri
Dear Readers:
Enjoy being enlightened on our country’s Budget cycle and the devolution process
Our Budget, Our County, Our Responsibility- Know the Timelines
The Division of Revenue Bill specifies the share of each level of government of the revenue raised nationally for the relevant financial year.
The County Allocation of Revenue Bill specifies each county’s share of that revenue and any other allocations to the counties, from the national government’s share of that revenue, and any conditions on which those allocations shall be made.
March 16: This is the deadline for passing the Division of Revenue and County Allocation of Revenue Bills.
March 1: This is the Deadline for Budget Policy Statement to be made available to the public.
The County Fiscal Strategy Paper (CFSP) is a document prepared by the County Treasury that specifies the broad strategic priorities and policy goals that will guide the county government in preparing its budget for the coming financial year and over the medium term. The CFSP provides the financial outlook with respect to county government revenues, expenditures and borrowing for the coming financial year and over the medium term.
February 28. This is the deadline for Budget Policy Statement to be approved by Parliament. This is also the deadline for the County Fiscal Strategy Paper to be tabled in each County Assembly.
February 15. At the National level, Cabinet Secretary for Finance is expected to submit the national Budget Policy Statement to Parliament. This is also the deadline for the debt management strategy paper, and the Division of Revenue and County Allocation of Revenue Bills to go to Parliament.
Keeping you informed on county budgets timelines and the devolved system process
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