The Katsina State Government has presented a budget of N288,633,257,963.00. for. the 2023 fiscal year tagging it as “Budget of Transition” idesigned to complete ongoing projects and initiate other capital projects that can be completed within the life of this Administration.
The budget was presented by Gov Aminu Bello Masari to the State House of Assembly saying 63.77% of the Budget goes for Capital Expenditure and 36.23% Recurrent Expenditure. In aggregate terms, Gov Masari said the 2023 Budget is lower than that of 2022 revised budget by N34,662,962,998.00.
The 2023 Budget is structured with a total recurrent expenditure of N104,580,485,996.28 which is equivalent to 36.23% of the total budget and capital expenditure of N184,052,771,966.72 which is 63.77% of the total budget.
The total amount projected to finance the 2023 Budget is the sum of N184,052,771,966.72 which comprises of N62,592,051,331.00 as Internally Generated Revenues from the State Board of Internal Revenue and other MDAs. The Revenue Receivable through the Federation Account is estimated at the sum of N119,021,024,430.89 with an Opening Balance of N12,062,370,089.11.
It is important to note that the 2023 recurrent revenue has increased by 7.33% over that of 2022 Revised Budget. Similarly, the capital expenditure in the 2023 Budget has decreased by 20.92% due to drop in Capital Receipts.
The recurrent expenditure of the 2023 budget is broken into the following components:
i) Personnel Cost/CRF Salaries =N34,891,130,414.28
ii) Pension and Gratuity =N13,080,000,000.00 = N47,971,130,414.28 45.87%
ii) Other Recurrent Expenditure
(Debt Servicing, Self-Sustain Expenditure &
Overhead Costs) =N56,609,355,582.00 54.13%
Total =N104,580,485,996.28 100%
The sum of N184,052,771,966.72 which is equivalent to 63.77% of the total Budget is estimated for the capital expenditure. In line with the International Public Sector Accounting Standards (IPSAS) the following are the four sectoral allocations recognized by IPSAS:
SECTOR ALLOCATION %
i) Economic Sector = N83,294,219,978.00 = 45.26%
ii) Social Sector = N81,358,212,977.00 = 44.20%
iii) Administration = N17,539,490,974.72 = 9.53%
iv) Law& Justice = N 1,860,848,037.00 = 1.01%
Total = N184,052,771,966.72 = 100%