The Orange Democratic Movement (ODM) party released its financial statement as of June 30, 2024, on September 30, just days after the Political Parties Fund announced that it would be one of the parties receiving the lion’s share of political funding for the financial year 2024/25.
According to ODM’s financial statement, the party accumulated a surplus of a total of approximately Ksh1 billion.
At the same time, the party generated a total income of approximately Ksh 1.3 billion, which stemmed from public contributions and donations amounting to about Ksh 46.1 million,
The party also recorded transfers from the government totaling about Ksh 158 million, and accrued transfers owed by the government, which were about Ksh 1.1 billion.
Breakdown of ODM party expenses
At the same time, the party accrued a total of approximately Ksh 255 million expenses.
The Orange party’s expenses included administrative expenses of about Ksh 136 million, financial costs of about Ksh 474,000, branch coordination and support of about Ksh 47 million, campaign expenses of about Ksh 30.4 million, civic education costs of about Ksh 834,000, conferences and meetings expenses of about Ksh 29 million, and party policy and advocacy costs of about Ksh 10 million.
Meanwhile, the ODM party also listed the current value of assets it currently has.
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From the statement, the party says its total assets are estimated to be valued at approximately Ksh 11.7 billion.
This amount was arrived at after the party calculated the estimated value from the following assets: property, plant, and equipment, estimated to be about Ksh 242 million; cash and bank balances, valued at about Ksh 6.7 million; other current assets from members’ debts and prepayments, estimated at about Ksh 6.8 million; and other current assets owed from the Political Parties Fund.
The total amount of the value of assets declared by the party has seen a significant increase compared to last year June 30, 2023, where the value of the party’s assets was approximately Ksh 10.5 billion.
Political Parties Fund
President William Ruto‘s United Democratic Alliance (UDA) party will receive the lion’s share of fund allocations from the Political Parties Fund (PPF).
The ruling party is set to pocket Ksh558.49 million according to the Registrar of Political Parties (RPP) Anne Nderitu who announced allocations to political outfits in the Financial Year 2024-25 in a gazette notice published on Friday.
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“IN EXERCISE of the powers conferred by sections 23, 25 and 34 (b) of the Political Parties Act, 2011, and Regulation 6 (c) of the Political Parties (Funding) Regulations, 2019, the Registrar of Political Parties give notice that the following forty-eight (48) political parties are eligible to receive funds from the Political Parties Fund (PPF) during the Financial Year 2024/2025,” reads the notice by RPP Anne Nderitu.
Following UDA in the allocations is Raila Odinga’s Orange Democratic Movement (ODM) party, which will get Ksh298,333,313 million.
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