Government Financial Management (National Youth Service Mechanical and Transport Fund) Regulations, 2011

Legal Notice 15 of 2011

Citation
Legal Notice 15 of 2011
Primary work
Government Financial Management Act
Date
18 February 2011
Language
English
Type
Legal Notice
Publication
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LAWS OF KENYA

GOVERNMENT FINANCIAL MANAGEMENT ACT

GOVERNMENT FINANCIAL MANAGEMENT (NATIONAL YOUTH SERVICE MECHANICAL AND TRANSPORT FUND) REGULATIONS, 2011

LEGAL NOTICE 15 OF 2011

  • Published in Kenya Gazette Vol. CXIII—No. 16 on 18 February 2011
  • Commenced on 18 February 2011

1. Citation

These Regulations may be cited as the Government Financial Management (National Youth Service Mechanical and Transport Fund) Regulations, 2011.

2. Interpretation

In these Regulations, unless the context otherwise requires—“Department” means the Department of National Youth Service under the Ministry for the time being responsible for Youth Affairs;“financial year” means the period of twelve months ending on the 30th June in each year;“Fund” means the National Youth Service Mechanical and Transport Fund established under regulation 3;“Minister” means the Minister for the time being responsible for Youth Affairs; and“officer administering the Fund” means the Permanent Secretary in the Ministry for the time being responsible for Youth Affairs.

3. Establishment of the Fund

(1)There is established a Fund to be known as the National Youth Service Mechanical and Transport Fund.
(2)The Fund shall consist of—
(a)monies appropriated by Parliament;
(b)grants and donations;
(c)monies received as user charge; and
(d)income generated from the proceeds of the Fund.

4. Object and purpose of the Fund

The object and purpose for which the Fund is established is to—
(a)provide transport facilities for the National Youth Service undertaking national projects and other users on hire;
(b)provide training services to the youth; and
(c)generate income for purposes of maintenance and renewal of machinery and equipment.

5. Initial capital of the Fund

The initial capital of the Fund shall be twenty-two million shillings appropriated by Parliament in the financial year 2010/2011.

6. Expenditure on the Fund

The expenditure incurred on the Fund shall be on the basis of, and limited to, annual work programmes and cost estimates which shall be prepared by the officer administering the Fund, and approved by the Minister, at the beginning of the financial year to which they relate.

7. Retention of receipts and earnings

All receipts, earnings and accruals to the Fund, and the balance of the Fund at the close of each financial year shall be retained by the Fund for use for the purpose for which it is established.

8. Application of the financial and procurement regulations

Existing Government financial and procurement regulations and procedures shall apply in the administration of the Fund.

9. Administration of the Fund

The officer administering the Fund shall—
(a)supervise and control the administration and financial management of the Fund;
(b)cause to be kept books of accounts and other books and records in relation to the Fund of all activities and undertakings financed from the Fund;
(c)prepare, sign and transmit to the Controller and Auditor-General, in respect of each financial year and within three months after the end thereof, such statement of accounts relating to the Fund, as the Treasury shall prescribe;
(d)furnish additional information as he may consider to be proper and sufficient for the purpose of examination and audit by the Controller and Auditor-General in accordance with the provisions of the Public Audit Act (No. 12 of 2003).

10. Winding-up of Fund

In the event of winding up the Fund, the cash balances shall be transferred to the Exchequer while other assets of the Fund shall be transferred to the Ministry for the time being responsible for Youth Affairs.
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History of this document

18 February 2011 this version
Commenced