Laikipia County Budget Review and Outlook Paper 2014

Abstract

This Budget Review and Outlook Paper (BROP) is prepared in accordance with the Public Financial Management Act, 2012.Sections 117 and 118 of the Act provides for the preparation of the County Fiscal Strategy Paper (CFSP) and County Budget Review and Outlook Paper (CBROP) respectively, by the County Treasury. The CBROP 2014 presents the recent economic developments and actual fiscal performance of the FY 2013/2014 and makes comparisons to the budget appropriations for the same year. It further provides updated macro-economic and financial forecasts with sufficient information to show changes from the projections outlined in the latest Budget Policy Statement (BPS). 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 in laying the foundation and setting the stage for full operationalization of the new devolved units within Laikipia County. The paper, also provides an overview of how the actual performance of the FY 2013/2014 affected the compliance with the fiscal responsibility principles and the financial objectives as detailed in the 2014 BPS.