The ruling party Jubilee lost a total of Kshs250.6 million in the financial year that ended on June 30, 2021.
The party has further revealed that its revenue went down from Kshs862.3 million that was recorded in 2019 to Kshs611.7 million.
According to Jubilee, the revenue dropped due to the increased party’s expenditure by Ksh111.9 million after it posted Ksh646.4 million in expenses up from Ksh534.5 million in 2020.
The party however managed to cut its expenses on employees costs to Kshs166.6 million in 2020 to Kshs166.3 million in 2021. The repairs and maintenance cost was also reduced from Ksh113.6 million to nil.
The financial results of the 2020/2021 financial year have been submitted to the Auditor General Nancy Gachungu.
“We have already submitted the financial report and the file is with the Auditor General,” said Jubilee’s Secretay General Raphael Tuju.
The financial costs for Jubillee dropped to Kshs3.99 million in 2021 from 2020’s Kshs6.3 million.
Their total assets dipped to Ksh380.7 million compared to Ksh429.4 million in the financial year ended June 2020.
Additionally, the party was able to cut its liabilities by Ksh12.6 million after it recorded Ksh159.1 million. That was a drop from Ksh171.77 million in 2020.
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