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By Antynet Ford
Nairobi City County will spend a whopping Sh28.8 billion to pay salaries and other recurrent expenditures in the new financial year.
This is 1.82Billion expenditure increment compared to the FY 2022-2023 budget by the defunct Nairobi Metropolitan Services (NMS).
On the 40.7 Billion budget, 11.9 Billion has been set for the various developments in the county which represents about 29.3% of the overall budget for FY 2023-2024.
This is a few points below the required legal threshold as per the Auditor General’s recommendation which requires a third of the budget should be directed to the development and the recurrent being way half of the total budget.
“With these allocations the development budget represents about 29.3% of the overall budget for the coming financial year, therefore, being a few points shy of the legally required threshold,” the report by Select Committee Finance, Budget and Appropriation read in part.
On various sectors allocation, the health sector, and health-related matters have been earmarked 8.1 Billion while on the development side, the Finance, Budget, and Economic planning allocated 3.2 Billion which is meant for the implementation of projects in the wards.
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The mobility sector has been allocated 2.2 Billion to improve Physical infrastructure in the County.
Green Nairobi Sector has been allocated a total of 3.5 Billion with boroughs and sub-County Administration being given an allocation of 9 Billion.
Nairobi City County expects to have the budget financed by locally mobilized revenue of 19.99 Billion, 19.78 as the share from the National Government, and a 994 Million Cash balance from the 2022-2023 FY.
“The total County inflows for the FY 2023-24 are expected to be in tandem with the expenditure side of the budget at Kshs. 40.767 billion consisting of Kshs. 19.78 billion as equitable share, Kshs. 19.99 billion as locally mobilized revenues, and Kshs. 994 million as projected cash balances carried forward from the FY 2022-23,” the report added.
According to the report by the Committee, the Own Source Revenue is expected to rise by 2.1 Billion.
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On the contrary, the report indicates a drop in the revenue collection of the third quarter of the ending finance al year by 0.4 billion of the same quarter for FY 2022-2023 which implies the County is 10 Billion Shy of its annual target.