ADVOKS GLOBAL · KENYA
Public Finance Management Act
28. Banking arrangements for national government entities
Edition: 2026-09-25 · In force
28. Banking arrangements for national government entities
(1)The National Treasury shall authorise the opening, operating and closing of bank accounts and sub accounts for all national government entities in accordance with regulations made under this Act.(2)The National Treasury shall establish a Treasury Single Account into which all revenues received by national government entities shall be deposited and from which all payments of money to or on behalf of national government entities shall be made.(3)The Treasury Single Account shall not be operated in any manner that prejudices any entity to which funds have been disbursed.(4)An accounting officer for a national government entity shall not cause a bank account of the entity to be overdrawn beyond the limit authorised by the National Treasury or a board of a national government entity, if any.(5)Subject to subsection (3), an accounting officer who authorises the bank account of a national government entity to be overdrawn is liable for the full cost of the overdrawn amount, in addition to any other disciplinary measures that—(a)the Cabinet Secretary may impose by regulations; or(b)any other relevant authority may impose under the provisions of any other legislation.(6)The National Treasury shall keep complete and current records of all bank accounts for which it is responsible under the Constitution, this Act or any other legislation.(7)The National Treasury shall give monthly statements on actual revenue collected in the accounts relating to Article 206 of the Constitution to the Commission on Revenue Allocation.