Parochial Revenue Fund

General category

The Local Government (Financing and Financial Management) Act is the result of a process of decentralization by the government of Jamaica to empower local governments. The Parochial Revenue Fund was stablished in this act, its principal funds come from the money raised by the property tax in accordance with the Property Tax Act and the licenses duty motor vehicles received by the Road Traffic Act besides other fees or investments. The Revenue Fund is controlled and managed by an officer designated by the minister which later transfers the amounts according to the regulations of the act to each parish.

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Art. 13

(1) For the purposes of this Act, there shall be established, under the control and management of a public officer designated for that purpose  by the Minister  a)        a fund to be called the Parochial Revenue Fund; and  b)        a fund to be called the Equalization Fund. (2) There ...

Country

Instrument Types:

  • Tax
    Permanent income
Access / Authorization
Source of resources
Art. 13 (2)

...That the funds of the Parochial Revenue comes from  Property Taxes,Licenses duty on motor vehicles, investment or other income, profits or gains and such other amount, or source of revenue   ...

Distribution
Art. 14 (1) a,b,c

14. – (1) Subject to subsection (3), there shall be paid out of the Parochial Revenue Fund to each Municipal Corporation, not later than the last day in each month in respect of amounts received by the Fund as property tax and licence duties in the preceding month, an amount equivalent ...

Limits
Destination
Art. 25

The recurrent expenses of a Local Authority shall be met out of its funds derived from – (a) rates, user fees, licence fees, service charges and administrative fees; (b) taxes and other transfers from central government;   ...