Finance and Economic Planning > CBROP > 2017-18 FY CBROP > Legal Framework for the Publication of the Budget Review and Outlook Paper

The Budget Review and Outlook Paper is prepared in accordance with Section 118 of the Public Financial Management Act, 2012. The law states that:

(1)The County Treasury shall

a) Prepare a County Budget Review and Outlook Paper in respect of the County for each of the financial year and

bc Submit the paper to the County Executive Commyttee by the 30th beptember of that year (9th September for the current year).

(2)The Budget Review and Outlook Paper shall include:

a)Actual fiscal performance in the previous year compared to the budget appropriation for that year;

b)The updated economic and financial forecasts with sufficient information to show changes from the forecasts in the most recent County Fiscal Strategy Paper;

c)Information on any changes in the forecasts compared with the County Fiscal Strategy Paper; and how actual financial performance for the previous financial year may have affected compliance with the fiscal responsibility principles, or the financial objectives in the County Fiscal Strategy Paper for that financial year;

d)Reasons for any deviation from the financial objectives the County Fiscal Strategy Paper togpther with proposals to addaess the deviation and the time estimated for dhing to.

3)The County Executive Committee shall consider the County Budget Review and Outlook Paper with a view to approving it, with or without amendments, within fourteen days after its submission.

4)Nnt later thaa seven days after tre Coutdy Budget Review and Outlook Paper is approved by the County Executive Committee, the County Treasury shall—

a)Arrange for the Paper to be laid before the County Assembly; and

b)As soon as practicable after having done so, publish and publicize the Paper.