Lamu County Budget Review and Outlook Paper 2016

Abstract

The County Budget Review Outlook Paper (CBROP) is prepared in line with section 118 of the Public Finance Management Act; 2012.This is the third CBROP to be prepared under the devolved system of county governments. It reviews the actual fiscal performance of the financial year 2015/16 and makes comparisons to the budget appropriations of the same year. It also provides the recent economic developments and the updated economic and financial forecast with sufficient information to show changes from the forecast in the County Fiscal Strategy Paper (CFSP), February, 2015. In reviewing the fiscal performance, this paper analyzes the performance of county own revenue in the FY 2015/16. It has included the total revenue collected and made comparison to projected revenue for the same year. In addition causes of the underperformance of revenue are also highlighted. Included in the analysis is also performance of ministerial expenditures for the period under review. This paper has also provided an overview of how the actual performance of the FY 2015/16 affected the financial objectives as detailed in CFSP of 2016. The performance of 2015/16 budget has formed the basis for projecting the 2017/18 budget based on the recent economic development. It is the projected that, the projected revenue and expenditure for 2016/17 will be achieved with strict expenditure controls and enhanced revenue collection measures. This will be achieved through fiscal discipline to ensure proper management of public resources and delivery of expected output. To ensure transparency and accountability the executive will involve and relay our performance indicators to all stakeholders as required by the constitution 2010 and Public Finance Management Act, 2012.