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WTF... 9.2B typo error!!!!
CLK
#81 Posted : Wednesday, May 13, 2009 12:24:00 PM
Rank: Member

Joined: 4/1/2009
Posts: 846
@McReggae,Thanks,its a sista.

The real measure of your wealth is how much you'd be worth if you lost all your money. ~Author Unknown
Mainat
#82 Posted : Wednesday, May 13, 2009 12:34:00 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Ok. Lets all be naive and believe everrything we read in newspapers and therefore assume it was a typo that increased the supplementary budget from Ksh16bn to 26bn.

What would our reaction have been if Equity was to call a preconference tomorrow and say that its 2008 Profit after tax was overstated by Ksh2bn and should have been Kshbn?

How did 5 PS and a fully fledged minister miss out 10bn out of 26bn?


www.mjengakenya.blogspot.com
Sehemu ndio nyumba
Mr.Tea
#83 Posted : Wednesday, May 13, 2009 12:45:00 PM
Rank: Member

Joined: 12/4/2008
Posts: 341
Location: Nairobi
So far the Finance minister has been cleared of any wrong-doing by parliament. Investigations by other agencies are still on so as to get to the bottom of this matter.

http://www.capitalfm.co.ke/news/index.php

Patience Pays in Guaranteed Checks
Patience Pays In Guaranteed Checks.
Wendz
#84 Posted : Wednesday, May 13, 2009 12:58:00 PM
Rank: Elder

Joined: 6/19/2008
Posts: 4,268
@CLK

My hat is off for you!

O.B.J.E.C.T.I.V.E is the word! This shallow-minded tribal talk just makes me a HDU candidate.

Some deals are like glass. Sometimes it's better to leave them broken than try to hurt yourself putting it back together.
FundamentAli
#85 Posted : Wednesday, May 13, 2009 1:04:00 PM
Rank: Veteran

Joined: 11/4/2008
Posts: 1,289
Location: Nairobi
@ Mainat

The extra amount sought by UK was correct. These guys altered the figures in the line items of the previously approved budget reducing them by Shs. 10B but forgot to adjust the total. The altered figures of 'previously approved budget' should say correctly total Shs. 388B. The unaltered previously approved budget items figures say total Shs 398B. The total of the 'altered previously approved budget' incorrectly reads Shs. 398B. So if the new Budget for the year is Shs 424B,the gova needs to spend Shs. 26B extra which was permission to spend was sought.

Btw,am still wondering why one would want to do such a thing.



Fundamentals + Sentiments = Position
The General
#86 Posted : Wednesday, May 13, 2009 1:17:00 PM
Rank: Member

Joined: 6/3/2006
Posts: 553
@ Fundamentali,maybe something to do with budgeting wishes that were shot down by MK?

The thicker the thigh the sweeter the pie.
The thicker the thigh the sweeter the pie.
FundamentAli
#87 Posted : Wednesday, May 13, 2009 1:44:00 PM
Rank: Veteran

Joined: 11/4/2008
Posts: 1,289
Location: Nairobi
@ The General

These have nothing to do with the other general for LOL.

It is a question of tempering with what cannot be altered. UK and the PS' must have looked at the bottom figure and not gone through the 300 or so line items that make that figure. The approved budget figures were established last year in June.




Fundamentals + Sentiments = Position
caesar
#88 Posted : Wednesday, May 13, 2009 2:07:00 PM
Rank: Member

Joined: 5/25/2007
Posts: 149
On the other hand,for a country that is unpredictable as Kenya. How much should we allow as contigencies for political risks,Likeliness of drought,rising oil prices,FX fluctuations,Strikes and wasted productivity,loss of parastatals due to mass actions,corruption,Tourism revenues glitch,tax evasion,Tribunals and commissions,pandemics.

It is my opinion that Making Kenya's budget is like tunnel vision experience. Like walking in the dark touching to find light switches,and avoiding to bump into things.


Shak
#89 Posted : Wednesday, May 13, 2009 2:19:00 PM
Rank: Elder

Joined: 2/22/2009
Posts: 2,449
Location: Africa
Wow,Jakoyo Midiwo is putting up a spirited defence for uk. How times have changed

smile
Obi 1 Kanobi
#90 Posted : Wednesday, May 13, 2009 3:32:00 PM
Rank: Elder

Joined: 7/23/2008
Posts: 3,017
@Ceaser

I agree with you that the kenyan budgeting process will have a lot of challanges,but whoever accepts to take on the responsibility should be serious enough to get the job done.

He does not have to go over the 300 lines as its put here,but what he has to do is have inplace systems that ensure that when there is a 9.2b typo,we should be told within 24 hours why/who is responsible.

So far UK has only come with the computer theory,unless he can come up with a live walking person I will continue to treat this as an attempted fraud. I will also assume that he is in on it.


I guess if you can't win with facts,you can always pen bile-laced,xenophobic rants to distract everyone.
"The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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