Circular on Guidelines for the Preparation of the Annual Budget for State Corporations for Financial Year 2023/2024 and Medium-Term Projections for FYs 2024/2025 & 2025/2026

Abstract

In accordance with the State Corporations Act, Cap. 446, Sections 11 and 12 and the Public Finance Management Act, 2012 (PFMA), Section 68, all State Corporations are required to prepare and submit their proposed budgets to the Line Ministry and the National Treasury & Economic Planning latest by end of January each year. The proposed budgets should indicate the projected revenue and expenditure for the succeeding financial year and medium-term projections. The purpose of this Circular is to provide guidelines for the preparation and submission of the Annual Budget for State Corporations for Financial Year 2023/2024 and Medium-Term projections for FYs 2024/2025 & 2025/2026.