MCAs approved a report on county revenue fund and financial statements

Nyeri, 

Monday, December 4, 2023, 

KNA by Beth Ndirangu

County Assembly of Nyeri has approved the annual and quarterly reports of County Revenue Fund for the fiscal year ending 30th June 2022/30th September 2022.

The financial statements accurately reflect county's financial position, in accordance with the provisions of section 163,164, and 165 of the Public Finance Management Act, 2012.

While moving the motion at Nyeri County Assembly for adoption of reports, the chairperson of Finance and Economic Planning Committee and Mukurwe-ini West Ward MCA Atanasio Wakabaire informed the house that the committee held consultative sessions with Finance and Economic Planning Department officers and thoroughly examined the financial statements during the Nyeri County Assembly motion.

Wakabaire emphasized the need for a robust internal control system in the Directorate of Revenue to prevent revenue leakages, while MCAs emphasized the County Treasury should ensure there’s need for increased absorption of development expenditure absorption. Furthermore, MCAs stressed on the County's responsibility to address underperformance in its Source Revenue Collection to ensure full financing of the approved budget.

The MCAs, led by Deputy Speaker and Ruring'u Ward MCA Hon. Samuel Kariuki, have resolved to increase the County Treasury's budget absorption rate for timely development project completion.

Courtesy; KNA