The Division of Revenue Act provides for the equitable division of revenue raised nationally between the National and County Governments in the 2016/17 financial year/PSCU
NAIROBI, Kenya, May 6 — President Uhuru Kenyatta has signed into law the 2016 Division of Revenue Bill and the Supplementary Appropriation Bill.
The Division of Revenue Act provides for the equitable division of revenue raised nationally between the National and County Governments in the 2016/17 financial year.
The total sharable revenue for 2016/2017 amounts to Sh1,380.2 billion, of which the National Government has been allocated Sh1,093.9 billion.
County Governments have been allocated Sh280.3 billion while the Equalization Fund has been allocated Sh6 billion.
Out of the total revenue allocation for the National Government, the funds set aside for conditional grants to the County Governments amounts to Sh21.9 billion.
The county equitable share represents 30 percent of the total audited revenue for the 2013/2014 financial year.
The County equitable share for 2015/2016 amounted to Sh259.8 billion and this allocation has been increased by eight percent Sh280.3 billion in 2016/2017 financial year.
On the other hand the signed Supplementary Appropriation Act authorises the release of Sh35,669,521,695 from the Consolidated Fund.
The money will be used by the Government in fulfilling its financial obligations for the remaining part of the financial year that ends on June 30.
The Act indicates the amount each ministry has been allocated for recurrent and development expenditure for the remaining period of the financial year.
The Act further grants authority to the Treasury to reduce the sums supplied for several government services for a number of votes amounting to Sh72,552,385,349.
President Kenyatta also signed into law the Climate Change Bill, 2014.
About The Author
