, NAIROBI, Kenya, Sept 5 – President Uhuru Kenyatta has assented into law the County Revenue Allocation Bill 2014, paving the way for the National Treasury to release funds to county governments.
The Act provides for the equitable allocation of revenue raised by the National Government for the 2014/15 financial year among the 47 county governments. It facilitates the transfer of allocations made to the county governments from the Consolidated Fund to the respective County Revenue Funds.
“Each county government’s allocation under subsection (1) shall be transferred to the respective County Revenue Fund in accordance with a payment schedule approved by the Senate and gazette by the Cabinet Secretary (National Treasury) in terms of section 17 of the Public Finance Management Act,” the Act says in part.
Speaker of the Senate Ekwe Ethuro submitted the Bill to the President in the presence of National Treasury Cabinet Secretary Henry Rotich and Senate Clerk Jeremiah Nyegenye.
The Bill passed by the Senate on September 2, the National Treasury shall publish a monthly report on actual transfers of all allocations made to county governments.