Public Finance Management Act (2012)

Public Finance Management Act (2012) - LAWS OF KENYA PUBLIC...

Info icon This preview shows pages 1–4. Sign up to view the full content.

LAWS OF KENYA P UBLIC F INANCE M ANAGEMENT A CT N O . 18 OF 2012 Published by the National Council for Law Reporting with the Authority of the Attorney-General
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

No. 18 Public Finance Management 2012 2 PUBLIC FINANCE MANAGEMENT ACT No. 18 of 2012 ARRANGEMENT OF SECTIONS Section PART I—PRELIMINARY 1—Short title and Commencement. 2—Interpretation. 3—Object of this Act. 4—Declaration of entities as national government entities. 5—Declaration of entities as county government entities. 6—Act to prevail in certain matters. PART II—PARLIAMENTARY OVERSIGHT OF NATIONAL FINANCES Responsibilities of Committees of Parliament 7—Responsibilities of the National Assembly budget committee in public finance matters. 8—Responsibilities of the Senate budget committee in public finance matters. Parliamentary Budget Office 9—Parliamentary Budget Office continued. 10—Responsibilities of the Parliamentary Budget Office. PART III—NATIONAL GOVERNMENT RESPONSIBILITIES WITH RESPECT TO THE MANAGEMENT AND CONTROL OF PUBLIC FINANCE Establishment of the National Treasury 11—Establishment of the National Treasury. 12—General responsibilities of the National Treasury. 13—Powers of the National Treasury. 14—Secondment of public officers by National Treasury to a County Treasury. 15—The National Treasury to enforce fiscal responsibility principles. 16—National government deviation from financial objectives. Responsibilities of the National Treasury with respect to National Public Funds 17—The National Treasury to administer the Consolidated Fund. 18—The National Treasury to administer the Equalisation Fund. 19—Source of the Contingencies Fund. 20—Cabinet Secretary to administer the Contingencies Fund.
Image of page 2
2012 Public Finance Management No. 18 3 21—Advances from the Contingencies Fund. 22—Cabinet Secretary to seek parliamentary approval for payments made from the Contingencies Fund. 23—Financial statements in respect of the Contingencies Fund. 24—Establishment of Parliamentary Fund and other national government public funds. Responsibilities of the National Treasury with respect to the budget Process 25—National Treasury to prepare annual Budget Policy Statement. 26—National Treasury to prepare Budget Review and Outlook Paper. 27—Publication of pre- and post-election economic and fiscal reports by National Treasury. Other Responsibilities of the National Treasury 28—Banking arrangements for national government entities. 29—Management of cash at the national government level. 30—Procurement of goods and services. 31—Cabinet Secretary to report on all loans. 32—The Cabinet Secretary to report on National government guarantees. 33—Cabinet Secretary to submit National government debt management strategy to Parliament annually.
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 4
This is the end of the preview. Sign up to access the rest of the document.
  • Summer '15
  • Brian
  • Public Finance, National Treasury, public finance management

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern