President assents to County Allocation of Revenue Bill
President Uhuru Kenyatta Thursday morning signed into law the County Allocation of Revenue Bill, 2016.
The Act provides for the equitable allocation of revenue raised nationally among the county governments. It also sets a ceiling on the amount of money counties will spend on recurrent expenditure.
The Act lists all the conditional grants which the county governments are receiving from the national government’s own revenue allocation.
It also recommends that the National Treasury shall publish a monthly summary of all transfers of allocations and funds given to county governments.
Each county treasury will be required to reflect all transfers by the national government in its books of accounts.
The Bill was presented to the Head of State for his signature by the Speaker of the Senate Ekwe Ethuro.