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In a statement, Treasury Principal Secretary Dr Kamau Thugge says the monies are or the months of July, August and part of September 2015/FILE

Kenya

Treasury releases Sh54bn to counties

In a statement, Treasury Principal Secretary Dr Kamau Thugge says the monies are or the months of July, August and part of September 2015/FILE

In a statement, Treasury Principal Secretary Dr Kamau Thugge says the monies are or the months of July, August and part of September 2015/FILE

NAIROBI, Kenya, Nov 2- The National Treasury has released Sh54.2 billion equitable share of revenue to County Governments.

In a statement, Treasury Principal Secretary Dr Kamau Thugge says the monies are for the months of July, August and part of September 2015.

“Ppursuant to the County Allocation of Revenue Act 2015 and in consultation with the Controller of Budget, the National Treasury has released funds for July, August and part of September 2015 tranches of equitable share of revenue to County Governments,” Thugge said on Monday.

Disbursements for the remaining part of September and the month of October “are in progress taking into account the County Governments’ bank balances at the Central Bank of Kenya (CBK).”

The release of the funds is based on the cash disbursements schedule which is usually approved by the Senate.

Thugge laments that despite the release of more funds there are still counties’ bank balances which stand at Sh32 billion with the revenue fund account taking the biggest chunk of Sh21.5 billion.

Recurrent account bank balances stand at Sh5.5 billion while the development accounts still hold unused Sh4.5 billion.

“The bank balances include the equitable share of the revenue raised nationally and County Governments own revenues collected and banked in the County Revenue Fund accounts at CBK, as well as opening balances carried forward from previous financial year,” the Treasury PS explained.

Turkana has the highest amount of bank balances at Sh2.29bn followed by Mandera at Sh2.25bn while Makueni has balances adding up to Sh2.2 billion.

The county with least balances carried forward include Nairobi at Sh19.2 million, Kiambu Sh48.4 million and Bomet County at Sh78.9 million.

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