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In his capacity as the Chair of the Finance, Economic Affairs, and Planning Committee at the Council of Governors and as a distinguished professional accountant, H.E. FCPA Fernandes Barasa attended the 41st Edition 1 Annual Seminar this morning at the Pride Inn Paradise Hotel, Mombasa.

Speaking alongside fellow panelists Hon. CPA Kuria Kimani, Hon. CPA Richard Onyonka, Hon. Robert Mbui, and H.E. Dr. Wilber K. Ottichilo in a panel moderated by FCPA Hesbon Omollo, Governor Barasa highlighted the negative effects of delayed and irregular disbursement of funds to counties by the national treasury. He said these delays are impacting key services including the settlement of pending bills. He proposed that national treasury as an institution should be separated from the Ministry of Finance to give it greater autonomy.

Governor Barasa also addressed the reduced allocation of just Ksh. 391 billion from the proposed Ksh. 439 billion by the Council of Governors, arguing that this amount is insufficient to facilitate adequate service delivery. He cited the example of the medical equipment service costing Ksh. 25 billion, that has now been passed down to counties.

He concluded his presentation by discussing Own Source Revenue (OSR) which he said is ring-fenced by the PFM Act, making it difficult for counties to raise more funds. He called for the relaxation of these regulations. Governor Ottichilo supported Barasa, stating that the National Government has left minimal OSR streams to counties especially for rural counties.

The theme for today’s event was “Transformative Macro and Micro Economics.”

The event was attended by accountants led by ICPAK Chairperson CPA Philip Kakai, and various stakeholders in the economic sector and public leadership.