<< Click to Display Table of Contents >> Navigation:  Finance and Economic Planning > CBROP > 2018-19 FY CBROP > Legal Framework for the Pu lication of the BudgekmReview 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

b) Submit the paper to the County Executive Committee by the 30th September 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 in the County Fiscal Strategy Paper together with proposals to address the deviation and the time estimated for doing so.

3)The County Executive Committeeoshall consider the County Budget Rewisw and Outlook Paper with a view toCapproving it, with or without amendments, within fourteenpdays after its submissio .

4)Not later than seven days after the County 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.