Baringo County Budget and status of money not spent as at 30th June , 2014 as provided for by Public Finance Management Act. Via #ContollerOfBudget In the 2013/14 FY Baringo county government will have unspent money as at the end of 30th June, as a matter of concern, and from various discussions in BCN and other forums. The public finance management act provides that; 136 (2) If, at the end of a financial year, a county government entity is holding appropriated money that was withdrawn from the County Exchequer Account but has not been spent, it shall repay the unspent money to the County Exchequer Account and prepare a refund statement which shall be forwarded to the Controller of Budget. 109 (8) Any unutilized balances in the County Revenue Fund shall not lapse at the end of the financial year but shall be retained for the purposes for which it was established. This hence provides clarifications that no moneys will be lost at the end of the financial year,but there is need for the county government to fast track the procuring and implementation of projects as reported in office of the controller quarterly budget implementation reports.
Posted on: Tue, 01 Jul 2014 05:58:42 +0000
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