Executive Summary

The National Treasury derives its mandate from the Constitution 2010, the Public Management Act 2012 and the Executive order No. 2/2013. The National Treasury will be executing its mandate in consistency with any other legislation as may be developed or reviewed by Parliament from time to time.
Mandate of the National Treasury.
The core functions of the National Treasury as derived from the above legal provisions include;
• Formulate, implement and monitor macro-economic policies involving expenditure and revenue;
• Manage the level and composition of national public debt, national guarantees and other financial obligations of national government;
• Formulate, evaluate and promote economic and financial policies that facilitate social and economic development in conjunction with other national government entities;
• Mobilize domestic and external resources for financing national and county government budgetary requirements;
• Design and prescribe an efficient financial management system for the national and county governments to ensure transparent financial management and standard financial reporting.
• In consultation with the Accounting Standards Board, ensure that uniform accounting standards are applied by the national government and its entities;
• Develop policy for the establishment, management, operation and winding up of public funds;
• Prepare the annual Division of Revenue Bill and the County Allocation of Revenue Bill;
• Strengthen financial and fiscal relations between the national government and county governments and encourage support for county governments and
• Assist county governments to develop their capacity for efficient, effective and transparent financial management.
• To prepare the National Budget, execute/implement and control approved budgetary resources to MDAs and other Government agencies/entities.
1.3 Role of the National Treasury in the Devolved System of Government
The National Treasury is mandated by law to:
• Strengthen financial and fiscal relations between the National Government and County Governments and encourage support for county governments in performing their functions.
• Assist county governments to develop their capacity for efficient, effective and transparent financial management.
• Prepare the annual Division of Revenue Bill and the County Allocation of Revenue Bill.
• Provide logistical support to intergovernmental institutions overseeing intergovernmental fiscal relations.
• Coordinate the development and implementation of financial recovery plans for county governments that are in financial distress.
• Coordinate capacity building of County Governments on public finance management matters.
The National Treasury’s vision is to be “an Institution of excellence in economic and public financial management”. The mission is to promote economic transformation for shared growth through formulation, implementation and monitoring of prudent economic and financial policy at National and County levels of Government.
The mission will be realized through the following seven core values: customer focus; result oriented; stakeholder participation; professionalism; accountability; transparency and integrity; team work and commitment; recognition of staff as key asset; and equity, fairness and inclusion.