Pfma summary

An accounting officer for a county government entity may-write off any loss not exceeding an amount, and in circumstances prescribed by regulations for the purposes of this section. Regulations made under this Act shall prescribe circumstances and the manner in which persons or groups may make written or oral representations about the contents of the statement. A county government entity shall establish an internal auditing committee whose composition and functions are to be prescribed by the regulations.

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The administrator of a county public fund shall ensure that money held in the fund, including any earnings or accruals referred to in subsection 3 is spent only for the purposes for which the fund is established.

Not later than three months after the National Assembly has adopted a report by a relevant committee of the National Assembly in respect of a report submitted by the Controller of Budget under Article 6 of the Constitution, an accounting officer shall—.

The report referred to in subsection 1 shall provide an independent opinion on findings on details of the material breach or persistent material breaches in such a manner as to allow Parliament to make a decision within thirty summmary on summarg or not to approve the renewal of the decision to stop the transfer of funds. A public officer to pfja a cash advance is made shall account for the use of the advance within a reasonable time.

Following approval of the budget estimates under this section, and before the Appropriation Act is assented to, the National Assembly may authorise withdrawals in accordance with Article of the Constitution, and such authority shall be communicated to the Cabinet Secretary responsible for finance by the Speaker of the National Assembly within seven days of that authority being granted by the National Assembly.

Each financial year, the Cabinet Secretary shall, with the approval of Cabinet, make a public pronouncement of the budget policy highlights and revenue raising measures for the national government. As soon as practicable after the commencement of this Act, a county government shall establish a forum to be known as the Name of the County County Budget and Economic Forum. At the end of each financial year, a receiver of revenue for the national government shall prepare an account in respect of the revenue received and collected by the receiver during that financial year.

Claims summay the borrower or issuer by holders of external loans or external government securities for payment shall be prescribed and become void if the claims are not made within six prma years from the redemption date in the case of principal and five years from the due date in the case of interest or any other amount.

The Cabinet Secretary shall, from time to time, and not less than once each year, publish in the Gazette a list of national entities declared under subsection 1. Parliament shall consider the Division of Revenue and County Allocation of Revenue Bills not later than thirty days after the Bills have been introduced with a view to approving them, with or without amendments.

PFMA – Public Finance Management Act, 2015

If the Cabinet Secretary summry aware of financial problems in a State organ or other public entity, the Cabinet Secretary shall promptly—. The regulations may add to the list of fiscal responsibility principles set out in subsection 2.

Any costs, charges or expenses incurred under subsection 5 are payable from the County Exchequer Account. When the county assembly has approved spending under subsection 2a supplementary Appropriation Bill shall be introduced for the appropriation of the money spent. The National Treasury shall prepare and submit to Cabinet for approval, by the 30th September in each financial year, a Budget Review and Outlook Paper which shall include—.

PFMA – Public Finance Management Act, – RoGGKenya – Reporting on Good Governance

The County Treasury shall publish and publicise the report not later than fifteen days after it has been submitted to the county assembly. External government securities shall be registered and may be recorded and traded in accordance with the terms and conditions of the external government security.

The National Treasury may invest, subject to any regulations that may be prescribed, any money kept in a bank account of the national government. Cabinet shall consider the Budget Review and Outlook Paper with a view to approving it, with or without amendments, not later than fourteen days after its submission.

An accounting officer is accountable to the county assembly for ensuring that the resources of the entity for which the officer is designated are used in a way that is—.

The administrator of a national public fund shall ensure that money held in the fund, including any earnings or accruals referred to in subsection 6is spent only for the purposes for which the fund is established. Except as provided by subsection 5the approval of the county assembly for any spending under this section shall be sought within two months after the first withdrawal of the money.

The Cabinet Secretary shall, in writing, designate persons as receivers of national government revenue under Article 12 and 4 of the Constitution and who shall be responsible for receiving and accounting for such national government revenue provided in any law or in regulations as the Cabinet Secretary may specify in the letter of appointment. A person to pdma an authorisation is given under subsection 10 shall comply with the authorisation.

Nothing provided under this section shall prevent county government securities to be issued and exist in electronic form as a debt entry. For the purposes of subsection 8it shall be sufficient if the signature of a person who is required to execute a county government security under this section is reproduced on the security. Subject to subsection 3an accounting officer who authorises the bank account of a national government entity to be overdrawn is liable for the full cost of the overdrawn amount, in addition to any other disciplinary measures that—.

Not later than two months after the end of each financial year, the Cabinet Secretary shall publish and publicise a report giving details of the guarantees given by the national government during that year.

A County Executive Summaary member for finance shall, from time to time, and not less than once each year, publish in the Gazette a list of the county entities declared under subsection 1. For the purposes of subsection 1there is an urgent and unforeseen event for expenditure if the County Executive Committee member for finance, guided by regulations and relevant laws, establishes that—. An accounting officer for a county government pfmz shall not cause a bank account of the entity to be overdrawn beyond the limit authorised by the County Treasury or a Board of a county government entity, if any.

The costs, interests and principal payments made by the national government on behalf of the county concerning loans to the county government shall, together with the principal amount, be reimbursed to the national government by the county government. A county government or county government entity may pfna a grant or donation from a development partner with the approval of the County Executive Committee member for finance and only as provided by this section. The National Treasury shall take all reasonably practicable steps to ensure that the approved budget estimates are prepared and publicised in a form that is clear and easily understood by, and readily accessible to, members of the public.

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