s.24Plan and estimates
24
Section 24Part 0 — Government Budgeting

Plan and estimates

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Unless authorisation has been provided in advance of appropriation in accordance with section 12, the plan and estimates for the next budget period shall be presented by the Minister of Finance on behalf of the Cabinet to the Cayman Islands Parliament, for review prior to the start of the coming financial year.
The plan and estimates shall —
summarise the specific outcomes that the Cabinet is seeking to influence in the financial year to which the plan and estimates relate and the manner in which it intends to achieve those specific outcomes;
specify the output groups, transfer payment categories, other executive expenses, equity investments, capital withdrawals, capital expenditure on executive assets, disposals of executive assets, loans and legislative measures that the Cabinet intends to pursue during the budget year;
explain how the specific outcomes referred to in paragraph (a) and the matters referred to in paragraph (b), accord with the Cayman Islands Parliament resolution approving the strategic policy statement made under section 23;
provide forecast financial statements for the core government and the entire public sector for the budget year which shall contain the statements and information set out in Schedule 2;
explain how the core government forecast financial statements accord with —
the financial targets contained in the most recently published strategic policy statement and the Cayman Islands Parliament resolution on that strategic policy statement made under section 23; and
the principles of responsible financial management and, if those forecasts depart from those principles, the information required by section 14; and
provide a schedule of appropriations requested of the Cayman Islands Parliament.
Where there is a requirement in any law that expenditure be met from executive revenue, the plan and estimates shall incorporate such expenditure, categorised appropriately.
The Minister of Finance shall introduce an Appropriation Bill providing for appropriations in accordance with section 9 consistent with the contents of the plan and estimates at the same time as the plan and estimates are presented to the Cayman Islands Parliament.
At the same time that that person introduces the Bill under subsection (4), the Minister of Finance shall, where relevant —
introduce a Bill to authorise changes to types or rates of coercive revenue; and
move a resolution to authorise the giving of guarantees by the Government.
Repealed by section 30(b) of the Public Management and Finance (Amendment) (No. 2) Law, 2017 [Law 28 of 2017].

Defined Terms

plan and estimatesoutput groupstransfer payment categoriesappropriations

Cross References

Referenced By