ADVOKS GLOBAL · KENYA
County Governments Retirement Scheme Act
40. Annual estimates
Edition: 2022-12-31 · In force
40. Annual estimates
(1)Before the commencement of each financial year, the Board shall cause to be prepared estimates of the revenue and expenditure of the Scheme for that year.(2)The annual estimates shall make provision for all the estimated expenditure of the Scheme for the financial year concerned and, in particular, shall provide for the—(a)payment of the salaries, allowances, and other charges in respect of the employee of the Scheme;(b)payment of benefits and other charges which are payable out of the funds of the Scheme;(c)funding of the registration, monitoring and evaluation activities of the Scheme;(d)maintenance of the buildings and grounds of the Scheme;(e)funding of training, research and development of activities of the Scheme;(f)reserve funds to meet future or contingent liabilities in relation to retirement benefits, insurance or replacement of buildings or equipment; and(g)such other matters as the Board may consider necessary.(3)The annual estimates shall be approved by the Board before the commencement of the financial year to which they relate.(4)Expenditure of the Scheme shall not be incurred except in accordance with the annual estimates approved by the Board.