Section 116, The Public Financial Management Act, 2016

(1) By such date as may be specified by the responsibleauthority or in any other enactment, but in any case no later than one month before the beginning of its financial year, the vote controller of a public enterprise shall submit to the responsible authority and the Minister for their information – (a) a budget of the public enterprise for the financial year; and (b) financial planning documents of the public enterprise which include – (i) financial targets for the financial year; (ii) any other matters as may be specified by regulations or instructions. of a new public enter-prise by the law. No. 13 Public Financial Management Act 2016 No. 13 Public Financial Management Act 201692 93 (2) The Minister may by statutory instrument – (a) specify financial targets to be included in financial planning documents of public enterprises; (b) prescribe structures, forms, and any other matters in respect of budgets and financial planning documents of public enterprises; and In-year reporting. (c) prescribe any requirements in respect of budget execution by public enterprises.