SRC Approves Ksh.32.21 Billion in Wage Bill Requests for Q4 FY 2023/2024, Significantly Up from Last Year
The Salaries and Remuneration Commission (SRC) has approved requests totaling Ksh.32.21 billion for the fourth quarter of the fiscal year 2023/2024. This marks a notable rise compared to the Ksh.4.27 billion sanctioned in the same period last year.
On Friday, the SRC reported that it received 79 requests amounting to Ksh.52.02 billion from public institutions for FY 2023/2024, a significant increase from the Ksh.8.18 billion requested in FY 2022/2023.
Of these requests, 11% were for Collective Bargaining Agreement (CBA) adjustments, 79% were for allowances and benefits, 6% were for bonuses, and 4% were for salary adjustments.
For the fourth quarter alone, the SRC granted Ksh.2.52 billion out of Ksh.5.46 billion requested by public service institutions, achieving an approval rate of 46.21%.
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This high approval rate is largely due to SRC’s recommendations on CBAs for various unions, including the Universities Academic Staff Union (UASU), Kenya University Staff Union (KUSU), and the Kenya Union of Domestic, Hotels, Educational Institutions, Hospitals, and Allied Workers (KUDHEIHA) for the 2021-2025 cycle.
County expenditure on Personnel Emoluments (PE) for the fourth quarter of FY 2023/2024 is projected at Ksh.53.42 billion, up from Ksh.48.4 billion in the third quarter but down from Ksh.59.24 billion in the same period last year.
This suggests that county government spending on wages, as a proportion of revenue, continues to exceed the PFM Regulations, 2015, the threshold of 35%.
The national government’s PE, excluding the national security sector and CFS, is expected to decrease from 25.51% in the third quarter to 23.54% in the fourth quarter.
Ordinary tax revenue fell from Ksh.484.22 billion in the third quarter to Ksh.471.1 billion in the fourth quarter, resulting in an increase in the wage bill to ordinary revenue ratio from 29.92% to 34.73%, just shy of the 35% threshold set by the PFM Act, 2012, and PFM Regulations, 2015.
SRC Approves Ksh.32.21 Billion in Wage Bill Requests for Q4 FY 2023/2024, Significantly Up from Last Year
