consolidated fund

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consolidated fund

the UK government's account at the BANK OF ENGLAND into which it pays its TAXATION and other receipts, and which it uses to make payments.
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Part II of this article considers the Constitution's Consolidated Revenue Fund ('CRF') to illustrate the ambiguous High Court conceptions of the CRF which led Parliament to give to the Australian government the details of the CRF's determination.
Therefore, it is clear that despite the creation of a new Canada Employment Insurance Financing Board, the payment of benefits to eligible workers continues to be made from the consolidated revenue fund through the El account." Consequently, a royal recommendation was needed.
The fundamental purpose of the requirement for a Royal Recommendation is to limit the authority for appropriating money from the Consolidated Revenue Fund to the Government.
The amended standing order said: "That this House will receive no petition for any sum of money relating to the public service or proceed upon any Motion for granting any money, whether payable out of the Consolidated Revenue Fund or out of monies to be provided by Parliament, unless recommended from the Crown."
The National Assembly was able to rescue itself from the grip of the executive by passing a law creating the National Assembly Service Commission to run its internal affairs and also to draw its budget directly from the Consolidated Revenue Fund. That has not been the case with the houses of assembly of the various States however, leaving them under the direction and control of the executive in the States, that is the governors.
Yerima Ngama, will help in prompt remittance of revenue to the Consolidated Revenue Fund Account.
The house approved N393, 841, 387, 020 from the Consolidated Revenue Fund for recurrent expenditure and N479, 691, 073, 705 from Development Revenue Fund for capital expenditure.
'(3) No monies shall be withdrawn from any public fund of the Federation, other than the Consolidated Revenue Fund of the Federation, unless the issue of those moneys has been authorized by an Act of the National Assembly.
The consolidated revenue fund comprises of N10 billion as pension and gratuity, and N6.672 billion for public debt charges/debt servicing.
The only allegation is that he approved funds for the emergency operations in the North East from the consolidated Revenue Fund not budgeted funds.
He said the implementation of the Fiscal Responsibility Act 2007 that required NDIC to remit 80 per cent of its operating surplus to the Consolidated Revenue Fund Account was one of the challenges.
He further said that the corporation remitted N22.77 billion per audit to the Consolidated Revenue Fund (CRF) of the Federation as at Dec.

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