Chapter 12: PUBLIC FINANCE
201. Principles of public finance
The following principles shall guide all aspects of public finance in the Republic—...
202. Equitable sharing of national revenue
(1) Revenue raised nationally shall be shared equitably among the national and county governments....
203. Equitable share and other financial laws
(1) The following criteria shall be taken into account in determining the equitable shares provided for under Article 202 and in all national legislation concerning county governme...
204. Equalisation Fund
(1) There is established an Equalisation Fund into which shall be paid one half per cent of all the revenue collected by the national government each year calculated on the basis o...
205. Consultation on financial legislation affecting counties
(1) When a Bill that includes provisions dealing with the sharing of revenue, or any financial matter concerning county governments is published, the Commission on Revenue Allocati...
206. Consolidated Fund and other public funds
(1) There is established the Consolidated Fund into which shall be paid all money raised or received by or on behalf of the national government, except money that—...
207. Revenue Funds for county governments
(1) There shall be established a Revenue Fund for each county government, into which shall be paid all money raised or received by or on behalf of the county government, except mon...
208. Contingencies Fund
(1) There is established a Contingencies Fund, the operation of which shall be in accordance with an Act of Parliament....
209. Power to impose taxes and charges
(1) Only the national government may impose—...
210. Imposition of tax
(1) No tax or licensing fee may be imposed, waived or varied except as provided by legislation....
211. Borrowing by national government
(1) Parliament may, by legislation—...
212. Borrowing by counties
A county government may borrow only—...
213. Loan guarantees by national government
(1) An Act of Parliament shall prescribe terms and conditions under which the national government may guarantee loans....
214. Public debt
(1) The public debt is a charge on the Consolidated Fund, but an Act of Parliament may provide for charging all or part of the public debt to other public funds....
215. Commission on Revenue Allocation
(1) There is established the Commission on Revenue Allocation....
216. Functions of the Commission on Revenue Allocation
(1) The principal function of the Commission on Revenue Allocation is to make recommendations concerning the basis for the equitable sharing of revenue raised by the national gover...
217. Division of revenue
(1) Once every five years, the Senate shall, by resolution, determine the basis for allocating among the counties the share of national revenue that is annually allocated to the co...
218. Annual Division and Allocation of Revenue Bills
(1) At least two months before the end of each financial year, there shall be introduced in Parliament—...
219. Transfer of equitable share
A county’s share of revenue raised by the national government shall be transferred to the county without undue delay and without deduction, except when the transfer has been stoppe...
220. Form, content and timing of budgets
(1) Budgets of the national and county governments shall contain—...
221. Budget estimates and annual Appropriation Bill
(1) At least two months before the end of each financial year, the Cabinet Secretary responsible for finance shall submit to the National Assembly estimates of the revenue and expe...
222. Expenditure before annual budget is passed
(1) If the Appropriation Act for a financial year has not been assented to, or is not likely to be assented to, by the beginning of that financial year, the National Assembly may a...
223. Supplementary appropriation
(1) Subject to clauses (2) to (4), the national government may spend money that has not been appropriated if—...
224. County appropriation Bills
On the basis of the Division of Revenue Bill passed by Parliament under Article 218, each county government shall prepare and adopt its own annual budget and appropriation Bill in ...
225. Financial control
(1) An Act of Parliament shall provide for the establishment, functions and responsibilities of the national Treasury....
226. Accounts and audit of public entities
(1) An Act of Parliament shall provide for—...
227. Procurement of public goods and services
(1) When a State organ or any other public entity contracts for goods or services, it shall do so in accordance with a system that is fair, equitable, transparent, competitive and ...
228. Controller of Budget
(1) There shall be a Controller of Budget who shall be nominated by the President and, with the approval of the National Assembly, appointed by the President....
229. Auditor-General
(1) There shall be an Auditor-General who shall be nominated by the President and, with the approval of the National Assembly, appointed by the President....
230. Salaries and Remuneration Commission
(1) There is established the Salaries and Remuneration Commission....
231. Central Bank of Kenya
(1) There is established the Central Bank of Kenya....