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$35M rent uncollected by MMA-ADA due to poor management

Jun 08, 2016 News

Instances of irregularities that transpired at the Mahaica Mahaicony Abary-Agricultural Development Authority (MMA-ADA), have continued to surface following a forensic audit and review into the agency for the period – January 1, 2012 to May 31, 2015.

The audit was conducted by TSD LAL & Co., which found that some $35M was owed to the agency. The report revealed that the agency might have been unable to retrieve its monies due to poor management which has cast doubt on the entity’s ability to collect monies from tenants.
Further, the report stated that an aged analysis was not done; however, upon investigation many of the amounts were over one year.
The auditors recommended that the entity should take legal action to recover this amount.
It was also revealed that the Authority did not update the files for tenants regularly. Also, instances were found where agreements were missing also; many agreements that had expired were not renewed.
For every premises rented, there must be a signed copy of the rental agreement in relation to the premises. Also, the agreement must be updated and filed securely, TSD LAL & Co. recommended. There were no pages in the rent ledger book related to several tenants. The ledger book was the Authority’s main method of recording rent receipts and rent outstanding from tenants.
The auditing entity recommended that there should be designated pages in relation to the rental of properties. Also, the pages must be updated regularly.
The MMA-ADA is a semi-autonomous agency under the Ministry of Agriculture, governed by a Board of Directors. The Board is responsible for the formulation of policies for the efficient functioning and operations of the agency.
The MMA/ADA was established in 1978 by Act No. 77 of 1977. The Authority was formed as the executing agency for the construction of all drainage and irrigation works in Region No. 5, Mahaica/Berbice. The agency is also responsible for the allocation of State Lands between the Berbice and Mahaica Rivers among other things.

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