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President Ruto gave his approval to both the Division of Revenue Bill, 2024 and the Supplementary Appropriation Bill, 2024 on Monday.
These bills, passed by both the National Assembly and the Senate, facilitate the distribution of revenue between the national and county governments and authorize the disbursement of Kshs.102 billion from the Consolidated Fund respectively.
Of the total shareable revenue amounting to Ksh.2.9 trillion, the National Government is allocated Ksh.2.5 trillion, while counties receive Ksh.400 billion. This allocation marks an increase from the Ksh.385 billion issued in the 2023/2024 Financial Year.
Furthermore, the Division of Revenue Bill allocates Ksh.7.8 billion to the Equalization Fund, earmarked for providing essential services like water, roads, health facilities, and electricity to marginalized areas.
The Supplementary Appropriation Bill, championed by Kiharu MP Ndindi Nyoro, authorizes the disbursement of Ksh.102.3 billion from the Consolidated Fund to address various service needs for the fiscal year ending June 30, 2024. This includes regularizing expenditures amounting to Ksh.23.67 billion.
A significant portion of these funds will be directed towards mitigating the recent floods in Kenya.
Specifically, Ksh.4.3 billion is allocated for humanitarian support to flood-affected individuals, Ksh.1 billion for emergency road rehabilitation, and Ksh.3.0 billion for El Niño disaster management.
Other allocations include funds for the fertilizer subsidy program, boosting revenue collection efforts by the Kenya Revenue Authority, and enhancing the National Police Service’s medical insurance.
Additionally, there are provisions for addressing emergency interventions such as responses to El Niño floods and other critical initiatives.
