Trans Nzoia County Budget Review and Outlook Paper 2023

Abstract

The CBROP provides a review of the fiscal performance for the financial year 2022/2023, updated national macroeconomic and fiscal forecast which inform the county fiscal framework, deviations from the CFSP 2023 and indicative sector ceilings for the 2024/25 budget and the medium term. The indicative Ceilings and fiscal outlook provided herein will be firmed in the CFSP 2024. The fiscal performance in the 2022/2023 financial year was fairly satisfactory considering the prevailing macro-economic environment globally and domestically. The County in its budget for FY 2022/2023 projected a revenue target of Ksh. 9,116,682,520. This comprised of Equitable Share, Own Source Revenue (OSR), Conditional grants from National government and Development Partners; and Unspent balances from previous year. In this period, the total cumulative revenue realized amounted to Ksh. 8,750,277,246 translating to an achievement rate of 96 percent. The Ksh. 366,405,274 shortfalls in revenue resulted from underperformance in own source revenue and transfers from National government by Kshs. 152,219,431 and Ksh. 214,185,843 respectively. The total actual expenditure of development and recurrent budget in 2022/2023 financial year was Ksh. 7,629,214,445 against an approved budget of Ksh. 9,116,682,520 depicting a variance of Ksh. 1,487,468,075 in budget absorption. This is equivalent to an absorption rate of 83.7% of the total approved budget.