Failed governance led to over expenditure: PAC Inquiry

The Departments of Finance, Treasury, and National Planning have cited lack of capacity and technical know-how as reasons for not keeping proper financial records.

Departmental Heads made that known duringthe second hearing ofthe Public Accounts Committee.

They also said public servants withinthe departments are not too familiar withthe Public Finance Management Act and this contributed to misuse or over expenditure.  

The PAC’s inquiry intothe 2008 public finances report has highlighted failed accounting, record keeping, and corporate governance across all of government.

PAC Chairman and Member for Begia John Hickey asked Secretaries for Finance Stephen Gibson, Treasury Simon Tosali, Planning Dr Peter Kora, and Chief Secretary Manasupe Zurenuoc, wherethe problems lay.

All three secretaries concurred it was a problem of capacity and knowledge ofthe laws when dealing with public finances.

So farthe PAC inquiry intothe 2008 public finance has found that; A trust account closed in 2006 was still being used in 2009 by Finance, an unknown surplus of K25 million in anther trust accountoan over expenditure of K830 million inthe development budgetocheques drawn in 2009 but predated to 2008 amounting to K84 million, andthe non-validation of a supplementary budget appropriation of K850 million for nine months.    

Chief Secretary Manasupe Zurenouc saysthe problems highlighted bythe Secretaries is somethingthey need to work togther to resolve.

He also saidthe Secretaries needed to be more accountable.

The PAC continues its inquiry on Monday.

Cedric Patjole, National EMTV News

Related posts

Police Houses in Tasion Barracks Under Construction

EMTV Online

Oil prices seen under pressure as Paris attacks spark demand worries

EMTV Online

Wallabies Desperate for Bledisloe Win

EMTV Online

Leave a Comment

error: Content is protected !!