ADVOKS GLOBAL · KENYA
National Government Constituencies Development Fund Act
12. Constituency Account
Edition: 2023-12-29 · In force
12. Constituency Account
(1)For the purpose of disbursement of funds under this Act there shall be opened and maintained a constituency operations account for every constituency at any commercial bank, which account shall be approved by the National Treasury and into which all funds shall be kept and such an account shall be known by the name of the constituency for which it is opened.(1A)Each constituency shall open one deposit bank account for holding third party monies which shall so be designated and such an account shall be known by the name of the constituency for which it is opened.(1B)For the purposes of this Act, each constituency shall maintain one deposit account and one constituency operations account.(2)At least three signatories shall be required for every cheque or instrument for actual payment or withdrawal of funds from the constituency operations account and the constituency deposit account.(2A)The signing instructions for the constituency operations account shall be such that there shall be at least one signature of an officer seconded by the Board for that purpose and, at least one signature of a member of the constituency Committee, and the signature of the sub-county accountant in charge of the Fund.(2B)The signing instructions for the constituency deposit account shall be such that there shall be at least one signature of an officer seconded by the Board for that purposes and, at least one signature of a member of the constituency Committee who shall not be a signatory to the constituency operations account and the signature of the sub-county accountant in charge of the Fund.(3)The Fund account manager shall hold the authority to incur expenditure of the funds at the constituency account.(4)Funds from the constituency account shall only be withdrawn as disbursements for a particular project in accordance with the provisions of section 5 of the Act.(5)Every payment or instruction for payment out of the constituency fund account shall be strictly in accordance to the minutes of a resolution of a meeting of the Constituency Committee.(6)All receipts, savings and accruals to the constituency account and the balances thereof at the end of each financial year shall be returned to the Constituency Account.(7)All unutilized funds shall remain in the constituency account and no investment elsewhere shall be permitted, provided that funds meant for a project that is cancelled or discontinued shall be returned to the Constituency Account in accordance with section 6 of this Act.(8)All unutilized funds of the Project Management Committee shall be returned to the constituency account.(9)Any accruing revenues, interest and liabilities from any constituency account shall be declared to the Board together with the annual returns.