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{
    "id": 779799,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/779799/?format=api",
    "text_counter": 247,
    "type": "other",
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    "content": "The Treasury also ensures that the national Exchequer is not overdrawn at any one time. The Consolidated Fund was established under Article 206 of the Constitution. Money can be withdrawn from the Consolidated Fund only:- (i) in accordance with appropriation by an Act of Parliament; (ii) in accordance to Articles 222 or 223; and, (iii) as a charge against the Fund as authorized by the Constitution or an Act of Parliament. Mr. Temporary Speaker, Sir, where a withdrawal from the Consolidated Fund is authorized under the Constitution or an Act of Parliament for the appropriation of money, the National Treasury shall make a requisition for the withdrawal and submit to the Controller of Budget for approval. The approval of a withdrawal from the Consolidated Fund by the Controller of Budget, together with written instructions from the National Treasury requesting for the withdrawal, shall be sufficient authority for the CBK to pay for the amounts from the National Exchequer Account in accordance with the approval and instructions provided. It is clearly stated under Section 17 (6) and (7) of the Public Finance Management Act 2012 that the National Treasury shall, at the beginning of every quarter, and in any event not later than the fifteenth day from the commencement of the quarter, disburse monies to county governments, in accordance with the schedules prepared by the National Treasury, in consultation with the Intergovernmental Budget and Economic Council, with the approval of the Senate, and published in the Gazette, as approved, not later than 30th May in every year.” The Office of the Controller of Budget was established under Article 228 of the Constitution of Kenya 2010 to oversee the implementation of the budgets of the national and county governments by authorizing withdrawals of public funds under Articles 204, 206 and 207 of the Constitution. Section 103 of the Public Finance Management (PFM) Act established in the county governments an entity known as the county treasuries bestowed with responsibility and powers to among others:- (i) to enforce fiscal responsibilities; (ii) establishment of the County Revenue Fund which collects all revenue collected in the county; (iii) arrange for the County Revenue Fund to be kept in the CBK or a bank approved by the County Executive Committee (CEC) Member for Finance and kept in an account known as the County Exchequer Account, and ensure that all monies authorized The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}