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Culture Ministry deposited $57M into special bank a/c
…instead of Consolidated Fund – audit
The Ministry of Culture, Youth and Sport is found to have been breaching the Fiscal Management and
Former Minister of Culture, Youth and Sport, Frank Anthony
Accountability Act 2003. This was highlighted in the recently released forensic audit report on the Ministry. When the coalition (A Partnership for National Unity and Alliance For Change (APNU+AFC) assumed office, the Culture Ministry was made a department within the Ministry of Education.
Forensic auditors noted that the Ministry, on many occasions, violated laws and other accounting procedures. Further, auditors found that the Ministry retained a lump sum that was supposed to be returned to the Consolidated Fund.
It was reported that a Bank of Guyana cheque for $56.7M was prepared by the Ministry in favour of Industrial Fabrication Inc and Consultancy Services.
Kaieteur News understands that the cheque was prepared some time in 2013 but for some unstated reason, the Ministry never handed it over. The cheque was then deposited to the Project Special Bank Account on May 20, 2014. During this time, Frank Anthony, was Minister of Culture, Youth and Sport.
Auditors pointed out that the amount being the unexpended balance of the public moneys issued out of the Consolidated Fund, should have been returned and surrendered to the Consolidated Fund at the end of the Fiscal year, December 31, 2013. This should have been done as prescribed Section 43 of the Fiscal Management and Accountability Act 2003.
The Fiscal Management and Accountability Act requires that any unexpended balance of public moneys issued out of the Consolidated Fund at the end of each fiscal year be returned and surrendered to the Consolidated Fund at the end of each fiscal year.
Auditors said that the deposit of $56.7M into the Project Special Bank Account is therefore a breach of Section 43 of the Fiscal Management and Accountability Act 2003.
No explanation was given to auditors as to why the unexpended balance of the public funds was not returned to the Consolidated Fund at the end of the Fiscal year. And or why the amount of $56,714,082 was deposited to the Project Special Bank.
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