ADVOKS GLOBAL · KENYA
Public Finance Management Act
116. Power to establish other county public funds
Edition: 2026-09-25 · In force
116. Power to establish other county public funds
(1)A County Executive Committee member for finance may establish other public funds with the approval of the County Executive Committee and the county assembly.(2)For every county public fund established, the County Executive Committee member for finance shall designate a person responsible for administering that fund.(3)The administrator of a county public fund shall ensure that the earnings of, or accruals to a county public fund are retained in the fund, unless the County Executive Committee member for finance directs otherwise.(4)The administrator of a county public fund shall ensure that money held in the fund, including any earnings or accruals referred to in subsection (3) is spent only for the purposes for which the fund is established.(5)The County Executive Committee member for finance may wind up a county public fund with the approval of the county assembly.(6)On the winding up of a county public fund—(a)the administrator of the fund shall pay any amount remaining in the fund into the County Exchequer Account; and(b)the County Executive Committee member for finance shall, with the approval of the county assembly, pay any deficit in the fund from the County Exchequer Account.(7)The administrator of a county public fund shall—(a)prepare accounts for the fund for each financial year;(b)not later than two months after the end of each financial year, submit financial statements relating to those accounts to the Auditor-General; and(c)present the financial statements to the county assembly.(8)The administrator of a county public fund shall ensure that the accounts for the fund and the annual financial statements relating to those accounts comply with the accounting standards prescribed and published by the Accounting Standards Board from time to time.(9)Regulations may provide for the establishment, management, operation or winding-up of county public funds under this section.(10)This section does not apply to the County Revenue Fund established under section 109 of this Act.(11)The funds and usage of money through the funds shall be published and publicised.(12)In this section—“administrator”, in relation to a county public fund, means a person designated by the County Executive Committee member for finance under subsection (2) to administer the fund;“County public fund” means a public fund established under subsection (1).