(3) The County Treasury shall ensure that the statements and summaries referred to in subsection (2) are in a form that is in accordance with the accounting standards prescribed and published by the Accounting Standards Board from time to time. (4) Not later than four months after the end of each financial year, the County Treasury shall— (a) submit the financial statements and summaries referred to in subsection (1) to the Auditor- General; and (b) deliver a copy to the National Treasury, Controller of Budget and the Commission on Revenue Allocation. Annual reporting by accounting officers.

164. (1) At the end of each financial year, the accounting officer for a county government entity shall prepare financial statements in respect of the entity in formats to be prescribed by the Accounting Standards Board. (2) The accounting officer shall include in the financial statements— (a) appropriation accounts, showing— (i) the services for which the appropriated money was spent; (ii) the amounts actually spent on each service; and (iii) the status of each Vote compared with the appropriation for the Vote; and (iv) a statement explaining any variations between the actual expenditure and the sums Voted; and (v) any other information specified by the County Treasury; (b) a statement of the entity’s debt that is outstanding The Public Finance Management Act, 2012 156 at the end of the financial year; (c) a statement of the entity’s debt guaranteed by the national government as at the end of the financial year; (d) a statement of the entity’s assets and liabilities as at the end of the financial year in respect of- (i) each Vote, clearly identifying between recurrent and development expenditure; and (ii) funds and deposits; (e) a statement of the accounting policies followed in preparing the financial statement; and (f) a statement of the county government entity’s performance against predetermined objectives.

(3) The accounting officer shall prepare the financial statements in a form that complies with relevant accounting standards prescribed and published by the Accounting Standards Board from time to time. (4) Within three months after the end of each financial year, the accounting officer for an entity shall— (a) submit the entity’s financial statements to the Auditor-General; and (b) deliver a copy of the statements to the relevant County Treasury, the Controller of Budget, and the Commission on Revenue Allocation. (5) In the case of an entity that is a County corporation, the accounting officer shall submit a copy of the county corporation’s financial statements to the County Executive Committee member responsible for that corporation who shall approve and forward the statements to the County Executive Committee member for finance. Annual reporting by receivers of revenue.

165. (1) At the end of each financial year, a receiver of revenue for a county government shall prepare an account in respect of the revenue collected, received and recovered by the receiver during that financial year. (2) The account under subsection (1) shall include— (a) a statement of receipts and disbursement in a form prescribed by the Accounting Standards Board The Public Finance Management Act, 2012 157 from time to time; and (b) a statement of arrears of revenue. (3) Not later than three months after the end of the financial year, the receiver of revenue for the county government shall— (a) submit the accounts to the Auditor-General; and (b) deliver a copy to the National Treasury, the Controller of Budget, County Treasury, and the Commission on Revenue Allocation.

(4) Not later than two months after the end of each financial year, a receiver of revenue for the county government shall submit to a county assembly a report with respect to all waivers and variations of taxes, fees or charges granted by the receiver during that year. (5) The receiver shall include in the report the following details in respect of each waiver or variation- (a) the full name of each person benefiting from the waiver or variation; (b) the amount of tax, fee or charge affected by the waiver or variation; (c) the year to which the waiver or variation relates; (d) the reasons for waiver or variation; and (e) the legislation in terms of which the waiver was authorised. The Public Finance Management Act, 2012 158 Accounting officer to prepare quarterly reports for county government entity.

166. (1) An accounting officer for a county government entity shall prepare a report for each quarter of the financial year in respect of the entity. (2) In preparing a quarterly report for a county government entity, the accounting officer shall ensure that the report— (a) contains information on the financial and non- financial performance of the entity; and (b) is in a form determined by the Accounting Standards Board. (3) Not later than fifteen days after the end of each quarter, the accounting officer shall submit the quarterly report to the County Treasury.

(4) Not later than one month after the end of each quarter, the County Treasury shall— (a) consolidate the quarterly reports and submit them to the county assembly; (b) deliver copies to the Controller of Budget, National Treasury and the Commission on Revenue Allocation; and (c) publish and publicise them. (5) In the case of an entity that is a county corporation, the accounting officer for the corporation shall also submit a copy of the quarterly report to the County Executive Committee member responsible for the corporation, who, upon approving it, shall submit a copy to the County Treasury. Annual

167. (1) The administrator of a county public fund The Public Finance Management Act, 2012 159 reporting by Administrators of county public funds. established by the Constitution, an Act of Parliament or county legislation shall prepare financial statements for the fund for each financial year in a form prescribed by the Accounting Standards Board. (2) In preparing a financial statement for a county public fund, the administrator shall ensure that the report contains information on the financial and non-financial performance of the fund. (3) Not later than three months after the end of each financial year, the administrator of a county public fund shall submit the financial statements prepared under this

section to the Auditor General. (4) The administrator shall submit a copy of the report to the County Executive Committee member responsible for the fund. Quarterly reporting by administrators of county public funds. 168. (1) The administrator of a county public fund established by the Constitution, an Act of Parliament or county legislation, shall prepare quarterly financial statements for the fund in a form prescribed by the Accounting Standards Board. (2) In preparing a quarterly financial statement for a county public fund, the administrator shall ensure that the report contains information on the financial and non- financial performance of the fund.

(3) Not later than fifteen days after the end of each quarter, the administrator shall submit the quarterly report to the County Treasury and a copy to the Controller of Budget. Financial management in urban areas and cities Application of this part to urban areas and cities. 169. (1) This part applies to urban areas and cities as defined in the Urban Areas and Cities Act, 2011; (2) For purposes of this Act, all provisions of this Act that apply to county government entities shall apply to urban areas and cities, unless expressly stated otherwise. Accounting Officer of urban area or city. 170. The accounting officer for an urban area or city shall be designated as provided in section 148 of this Act, and as accounting officer shall – (a) exercise the functions and powers assigned to an accounting officer in terms of this The Public Finance Management Act, 2012 160 Act; and (b) be responsible and accountable to the county assembly for the financial management and administration of the urban area or city. Urban area or city accounting officer responsibilities in revenue management.