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Nairobi County Finance Sector Takes Strategic Steps: Workshop Focuses on Prudent Management of County Assets and Liabilities

Nairobi ,Friday 27th October 2023

Nairobi County Finance and Economic Planning Sector held a one-day workshop for internal stakeholders on county asset management policy and guidelines at Weston Hotel.

The Public Finance Management Act. 2012 Section 153 mandates County Executive Committee Member for Finance and Economic Planning be responsible for the management of all county assets and liabilities.

The county government has not only acquired a vast number of assets over the years but has also incurred heavy liabilities. There is no policy and system of recording or managing the assets immediately they are procured and the liabilities whenever they are incurred.

County Director for Asset Management, George Mwariri while addressing the participants during the workshop stated that in order to improve service delivery to the City of Nairobi and the general public, the County Treasury has made initiatives to improve how County Assets and liabilities should be acquired, managed, operated and disposed.

The initiatives include proper record keeping, reporting and enhancing openness and accountability of public assets Management, updating of the County asset registers as well as advising sectors, departments and Sub counties to establish and maintain assets registers.

Said Mr. Mwariri “The Finance Sector brought on board a consultant to develop the county’s first policy on prudent management of its assets and liabilities and Update the County and Sub County Asset Registers. The policy, once developed and approved by the County Assembly, will guide in the compilation and updating of assets registers in the county. The sector registers will form the basis of consolidation, reconciliation, and formation of an accurate and comprehensive central county assets and liabilities register. ”

Ag. Deputy Director Asset Management, Irene Gitundu emphasized on the critical importance of workshop engagements to ensure a comprehensive and accurate asset register is achieved.

The participants were taken through the Draft County Assets management policy and guidelines and county assets register by the consultant so that they may critic it and give their final input.

“This critical assignment can only be achieved through stakeholder’s engagement to chart the way forward in terms of development of policy guidelines and procedures for management of county resources to protect County assets from misuse and illegal acquisition” said Mr. Mwariri.

An advisory letter from the Ethics and Anti-Corruption Commission (EACC) on existing gaps in prudent management of assets and addressed to all 47 County Governors was presented to the participants by Mr. Mwariri. He emphasized the urgency in implementing the recommendations of the EACC in line with the existing laws.

Present were Director Revenue, Shaban Asman, Assistant Director of Revenue, Nixon Otieno, Director Debt Management, Joshua Kimeu, Deputy Director Valuation, Gwenith Magiri, Deputy Director Revenue, Veronica Kalekye, Assistant Director Asset Management, Joyce Muniu, Sub County Administrators, Assistant Directors of Administration and County Officers representing all 10 Sectors.



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