An external audit conducted into the Papua New Guinea University of Technology’s (PNGUOT) 2015 Bank Accounts show that the premiere Institution’s books are in order.
According to the Auditor General’s Report, Unitech’s expenditure and revenue are accounted for.
Vice Chancellor Dr. Albert Schram said this was the first time in over two decades, that the school has received a clean report on their accounts.
“It is a continuous effort on the side of the management to ensure that our spending generates some benefits to the university” Dr. Schram said.
Despite having outstanding grants from the national government this year, Unitech managed to balance their accounts at the cost of cutting their budget.
“If we get the grants transfer that we were promised, we will have a small surplus this year.”
Meanwhile, the Government handed down the the National 2018 budget yesterday, allocating K5 million for Unitech’s infrastructure and another K5 million for the rebuilding of student mess, which was burnt down in the student unrest last year.