Ordinary Revenue in Current Financial Year Hits KES 869.19Bn in February

Treasury’s statement of actual revenues and net exchequer issue indicate actual receipts from ordinary revenue in the current financial at the end of February hit 869.19 billion shillings.

The amount, according to the Treasury, includes 836.02 billion shillings in tax income and 33.17 billion shillings in non-tax income.

Revenue collection in February settled at 87.58 billion shillings, with this being 82.70 billion shillings from tax income and 4.88 billion shillings from non-tax income.

Recurrent exchequer issues at end February hit 61.24 percent with 575.77 billion shillings disbursed from a total allocated 940.15 billion shillings in the current financial year.

Development expenditure trailed behind with an absorption rate of 41.98 percent at the end of last month; 147.36 billion shillings disbursed against a total 351.05 billion shillings quota.

Disbursements to devolved units of government at the end of February hit 126.94 billion shillings, 41.46 percent of the 306.20 billion shillings county equitable share in FY17/18.

Disbursements from central government to the county governments have averaged 25.39 billion shillings since October last year after the initial crowding out of funding in the first three months of FY17/18 due to discrepancies between County Allocation Revenue Act 2017 and the schedule of disbursement approved by the Senate.

With disbursement from national government accounting to 84 percent of county governments’ revenue, the proposed 16 billion shillings slash by Treasury in the upcoming Supplementary Budget will be detrimental to county governments’ operations.

In the latest Treasury update, public debt obligation under the Consolidated Fund Service (CFS) in the current fiscal year has been significantly written down to 466.23 billion shillings from 658.23 billion shillings.