CPA OMBAI JOHN

25/08/2025

Principles of public
finance according to Art 201 of Cok, 2010.
The following are the principles governing use of public funds
(a) openness and accountability, including public
participation in financial matters.
(b) promote an equitable society,
and in particular—
(i) the burden of taxation shall be shared fairly.
(ii) revenue raised nationally shall be shared equitably among
national and county governments; and
(iii) expenditure shall promote the equitable development of
the country, including by making special provision for
marginalized groups and areas.
(c) the burdens and benefits of the use of resources and public
borrowing shall be shared equitably between present and
future generations.
(d) Prudent and responsible us of public funds
(e) Responsible, and fiscal
reporting of public finances.

18/08/2025

Chapter 12 of the Kenyan Constitution, titled "Public Finance", outlines the principles and framework for managing public finances in Kenya.
It covers various aspects, including revenue-raising powers, revenue allocation, budgets, spending, and control of public money.
The chapter also addresses other public funds, financial officers, and institutions.
Here's a more detailed breakdown:
Principles and Framework:
This section establishes the fundamental principles guiding public finance, emphasizing

1.openness,
2.accountability
3.public participation.
Other Public Funds:
This part deals with various public funds beyond the Consolidated Fund, such as those for specific purposes.
Revenue mobilization and Public Debt:
This section outlines the powers of the government to raise revenue through taxes and other means, as well as provisions for managing public debt.
Revenue Allocation:
This part focuses on how revenue is allocated to different levels of government (national and county) and among various sectors.
Budgets and Spending:
This section covers the processes for creating and implementing national and county budgets, as well as the mechanisms for controlling public spending.
Control of Public Money:
This part establishes mechanisms for auditing, oversight, and accountability to ensure the proper use of public funds.
Financial Officers and Institutions:
This section addresses the roles and responsibilities of various financial officers and institutions involved in managing public funds.

Kenya Law Reform Commission - KLRC