Budget slashed over low revenue
What you need to know:
- The county’s proposed budget of Sh8 billion for the 2015/2016 financial year has dropped from this financial year’s Sh12.3 billion.
The Mombasa County Government’s proposed budget for the next financial year has been reduced by more than Sh4 billion due to low revenue collection.
The county has so far collected only Sh1.3 billion against the projected Sh6.7 billion, according to Finance Executive Hazel Koitaba.
She spoke at the Kenya School of Government in Mombasa on Tuesday when she presented the county government’s fiscal strategy paper for 2015/2016.
The county’s proposed budget of Sh8 billion for the 2015/2016 financial year has dropped from this financial year’s Sh12.3 billion.
Ms Koitaba said in the last financial year, the county collected only Sh1.7 billion against a target of Sh5 billion.
“Our total budget for this financial year was Sh12.3 billion, but we were forced to come up with a supplementary budget of Sh9.8 billion since we were unable to meet our revenue collection target,” she said.
