Nakuru County Budget Review and Outlook Paper 2014

Abstract

This is the first county budget outlook paper (CBROP 2013) since March 4th general election a first of its kind under the new constitution that heralded the new governance structures of devolved governments. The Constitution and Public Financial Management Law enacted in 2010 and 2012 respectively ushered in a paradigm shift in budget making. Apart from introducing reforms in our public financial management system, the law entrenched the Medium-Term Expenditure Framework budgeting. The County Budget Outlook Review Paper sets out the background and broad fiscal parameters for the 2015/16 budget and the medium-term, consistent with County Government strategies and policies. The CBROP 2014 is prepared taking into account resources required for the implementation of a devolved government, which, among other things, provides for fiscal decentralization of resources to the county entities and reforms to several institutions. The ensuing MTEF resource allocation therefore will be critical the target envisaged in the medium term by the under fiscal responsibility principle in the PFM Act 2012