https://repository.kippra.or.ke/handle/123456789/1170 Sat, 29 Oct 2022 20:09:00 GMT 2022-10-29T20:09:00Z https://repository.kippra.or.ke/handle/123456789/3799 Bungoma County Budget review and Outlook Paper 2021 The 2021 County Budget Review and Outlook Paper has been prepared in accordance with the Public Finance Management (PFM) Act, 2012 and its Regulations. The document provides the fiscal outturn for the FY 2021/22, the macro-economic projections and sets sector ceilings for the FY 2022/23 and the Medium-Term Budget. The 2021 Budget Review and Outlook Paper (BROP) has been prepared against a background of expected global recovery after a slump in 2020 occasioned by the negative effects of the COVID-19 pandemic. The global economy is projected to grow by 6.0 percent in 2021, from a contraction of 3.2 percent in 2020. Fri, 01 Jan 2021 00:00:00 GMT https://repository.kippra.or.ke/handle/123456789/3799 2021-01-01T00:00:00Z https://repository.kippra.or.ke/handle/123456789/3798 Bungoma County Budget Review and Outlook Paper 2019 The 2019 Budget Review and Outlook Paper has been prepared at a time when the global economy is weakening amid escalating trade tensions, tighter global financial conditions and higher policy uncertainty across many economies. Global economic activity is expected to slow down to 3.2 percent in 2019 from 3.6 percent in 2018 with prospects across countries and regions remaining uneven. Growth prospects for sub-Saharan Africa continue to strengthen, with a projected growth of 3.4 percent in 2019 from 3.1 percent in 2018. On the national scene, economic growth has remained strong and resilient despite the emerging global challenges, supported by ongoing public and private sector investments and stable macroeconomic environment. The economy expanded by 6.3 percent in 2018 up from the 4.9 percent registered in 2017. The growth momentum continued in the first quarter of 2019, with the economy expanding by 5.6 percent despite the delayed rainfall. We project this growth momentum to continue culminating to a growth of 6.0 percent in 2019 underpinned by the resilient services sector, positive business sentiments, even as programmed activities under the “Big Four” Plan gain traction. Tue, 01 Jan 2019 00:00:00 GMT https://repository.kippra.or.ke/handle/123456789/3798 2019-01-01T00:00:00Z https://repository.kippra.or.ke/handle/123456789/3385 Bungoma County Budget Review and Outlook Paper 2020 The 2020 County Budget Review and Outlook Paper has been prepared in accordance with the Public Finance Management (PFM) Act, 2012 and its Regulations. The document provides actual fiscal performance for the FY 2019/20, macro-economic projections and the sector ceilings for the FY 2021/22 and the medium-term budget. The document also provides an overview of how the actual performance of the FY 2019/20 affected our compliance with the fiscal responsibility principles and the financial objectives spelt out in the PFM Act as well as information showing changes from the projections outlined in the 2020 County Fiscal Strategy Paper. Preliminary outcome for the FY 2019/20 indicate that the cumulative revenue collection including AIA was Kshs 777,557,862. This revenue was Kshs. 141,539,522 (15.4 %) below the target of Kshs 919,097,384. The total expenditure amounted to Kshs 10,895,889,390 against a target of Kshs 13,836,129,306. The variance of 21% (Kshs. 2,940,239,916) was attributed to lower absorption recorded in both recurrent expenditure (Kshs. 8,204,202,359.85) and development expenditures (Kshs. 2,691,687,030.3) by the County Government. Wed, 01 Jan 2020 00:00:00 GMT https://repository.kippra.or.ke/handle/123456789/3385 2020-01-01T00:00:00Z https://repository.kippra.or.ke/handle/123456789/3383 Bungoma County Budget Review and Outlook Paper 2018 In preparation of the FY 2018/19 budget, emphasis will be put on high priority and strategic service delivery programmes that will continue to build on the strong desire to transform the county. More specifically, County Departments and Agencies (CDAs) are advised to observe strict adherence to H.E The President’s directive to freeze all new projects until completion of ongoing ones. This will improve efficiency of our public investment, streamline spending and reduce waste. As provided for in the CIDP 2018 -2022, CDA programming will be anchored on the four thematic sectors covered under The Big Four as prioritized in the Third Medium Term Plan (MTP 2018-2022). Therefore, Sector Working Groups are called upon to adhere to the hard sector expenditure ceilings and to rationalize all programs to ensure that only those projects that are aligned to the Big Four are given consideration in resource allocation. Particular emphasis should be put on high priority and strategic service delivery programmes that provide value for money. Mon, 01 Jan 2018 00:00:00 GMT https://repository.kippra.or.ke/handle/123456789/3383 2018-01-01T00:00:00Z https://repository.kippra.or.ke/handle/123456789/3381 Bungoma County Budget Review and Outlook Paper 2017 The outcome of the FY 2016/17 budget adhered to the Fiscal Responsibility Principles and financial objectives set out in the PFM Act, 2012. These include: County Government development budget was at 36 percent of total budget; share of County Government wages and benefits to County Government revenues was 34 percent; Public debt and obligations were maintained at a sustainable level as approved by County Assembly; improved macroeconomic forecasts to manage fiscal risks and reforms in the tax administration and legislations were carried out to lock in predictability and enhance compliance with the tax system. The budget for the FY 2017/18 and the medium term is premised on the favourable macroeconomic environment and transformational leadership at the county level, despite the risks emanating from the uncertainty in the global financial market. The macroeconomic environment remains favourable, with the narrowing of the current account deficit due to lower import bill, strong diaspora remittances, stable Kenya shilling exchange rate against the dollar, the increase in the foreign exchange reserves and the stability of the foreign exchange market. The Budget will also implement the third medium term plan of vision 2030 that is currently under preparation. Sun, 01 Jan 2017 00:00:00 GMT https://repository.kippra.or.ke/handle/123456789/3381 2017-01-01T00:00:00Z