The Orange Democratic Movement (ODM) party led by opposition leader Raila Odinga, generated KES 1.3 billion worth of revenues in the full financial year ended June 30, 2023, representing a 36 per cent drop from the previous financial year, when the party posted KES 2.2 billion.
The party’s unaudited financial statements show that a majority of the party’s income came from accrued government transfers which brought in Ksh1.1 billion.
The party also netted KES 240 million from government transfers and another KES 31 million from public contributions and donations.
The party’s balance sheet also shows that ODM spent Ksh610.6 million on campaigns and another Ksh108.5 million on conferences and meetings.
Other activities that gobbled up a huge chunk of the amount include; administrative expenses (Ksh127.5 million), party policy and advocacy (Ksh43 million) and branch coordination and support (Ksh31 million).
Financial costs consumed Ksh611,739 while civic education cost the political outfit Ksh60,000.
Additionally, the financial statement shows that total expenses amounted to Ksh922 million down from Ksh1.1 billion the previous year.
Notably, the financial statement shows that the party has total assets worth Ksh10.5 billion, underlying strong balance sheet strength.
According to the registrar of political parties, Ann Nderitu, ODM will receive Ksh308 million from the Political Parties Fund in the Financial Year 2023/2024.