Across the world many countries are now grappling with restoring sound and sustainable public finance management systems. This follows the realization that the way governments manage their budgets today will have profound economic effects in the years ahead. Good public financial management supports not only good governance and transparency but is also crucial for effectively delivering the services on which human and economic developments rely.
Following the enactment of Kenya’s new constitution (2010), issues relating to fiscal decentralization and public financial management are now at the centre of policy reforms.
The Public Financial Management Act 2012 was signed into law on July 23rd 2012. The PFM Act 2012 sets out to promote transparency and accountability in the management of public finances at the National and County Government levels. The Act details how resources will be shared in the country between the national government and the county government and also creates new institutions with a public financial mandate such as the Commission on Revenue Allocation (CRA) and the Office of the Controller of Budget, amongst others, with distinct functions aimed at enhancing efficiency within the sector.
In Kenya, the Government has undertaken several initiatives to improve Public Finance Management. For instance, the Strategy for the Revitalization of Public Financial Management System in Kenya covered the period 2006-2011 and was implemented using a Sector Wide Approach. The Strategy was developed to guide reforms in the PFM sector and to build on the institutional transformation the Government was undertaking. Currently, with the implementation of devolved government system, a new dimension of public finance management has been introduced with a set of new challenges – human resource related, structural and object related. The workshop aims at educating participants on how to effect a sustainable fiscal position, allocating resources efficiently, and delivering public goods and services effectively. The following areas will be covered:
- Feedback from the Office of Controller of Budget and Auditor General
- Challenges for Fiscal Year 2015-2016 and way forward
- Stipulations of the PFM Act and Regulations (2015) on Budget Preparation, Presentation and Accountability
- Budget Cycle and Key Budget Documents in PFM
- Politics and the PFM Act: Inherent Challenges in Implementation
- Retirement Planning
The workshop will take place at Jumuia Hotel, Kisumu. Charges are Kshs. 8, 950 and Kshs. 10, 950 for members and non-members respectively. Associate members will pay Kshs. 6, 950. Members in attendance will be awarded 14 Structured CPD Hours.
