Treasury’s delay in releasing funds hampers development in counties

The perennial delays by the Treasury in releasing funds to the 47 counties has been cited as the major cause of their low absorption rates. The Institute of Certified Public Accountants of Kenya (ICPAK) says the delays derail the counties’ budgeting and delivery of services, thus hampering development.

“The delay in the disbursement of funds by the exchequer is a major cause of low absorption of funds in what has been highlighted by the Controller of Budget, Mrs Agnes Odhiambo, in successive reports since 2013,” said ICPAK Chairman Julius Mwatu. Readmore