$5.7M already spent on feasibility study for UG Business school

Nov 06, 2016 News

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During the period October 26 to October 28, 2016 the University of Guyana expended $5,732,977 towards travelling and accommodation for members of the feasibility study team for a School of Entrepreneurship and

Business Innovation.
The University made available a statement recording the expenses it has incurred thus far. For the professional services or honoraria paid to the team members, the university spent $2,322,000.
Regarding airfare, a sum of $448,814 was paid to the Frandec Travel Service. Additionally the university had to refund some of the team members their airfare. Refunds were paid to Dr. Leyland Lucas in the sum of $237,300; Dr. Edward Davis and Dr. Ivor Mitchell were reimbursed $260,895 each, and Floyd Haynes was compensated for monies paid towards airfare and accommodation totalling $468,123.
It was noted in the financial statement that team members Rosalind McLymont and Dr. Damani Rachid paid their own airfares.
The university also made payments to three city hotels. It is unclear whether these payments were for accommodation, leisure or conference sessions. A sum of $846,842 was paid out to the Pegasus Hotel. The Windjammer International Cuisine and Comfort Inn billed the university $77,500. Payments to Duke Lodge amounted to $810,608.
This expenditure comes at a time when the University has been complaining about having scarce resources. In July last, UG announced the introduction of a graduation charge to cover convocation expenses.
The decision was made by the Finance and General Purposes Committee (F&GPC) of UG during a statutory meeting. All students attending their graduation will have to pay $10,000 and those who choose not to will be required to pay $7,000.
This intervention, according to the university came about since tuition fees can only be used for costs relating to classroom instruction; as a result funding to finance the convocation ceremony had to be sought elsewhere.
The institution noted that the cost for the ceremony has been increasing over the years. Based on statistics presented by the institution showed that for 2013 the cost to finance the graduation ceremony was $3,036,052; for 2014 it was $5,158,510 and in 2015 the cost skyrocketed to $8,340,766.
The decision to introduce the fee was just one made by the F&GPC to improve the financial condition and services offered to students at the institution.
The fee will cover the cost for graduation gowns, rental of chairs and public address system for the ceremony, the Chancellor’s reception for students, the provision of diplomas and the printing of graduation programmes and convocation booklets.
NY Trip
The university also published the financial statement for the trip to New York during September 1 to September 6, 2016. The total expenditure for the trip amounted to $4,366,024. The cost of air travel for the 13-member team was $2,989,564; other costs inclusive of accommodation and meals totalled $1,320,460 and departure tax was $56,000.
Contributions received from fundraising activities were $2,019,950. According to UG, the team comprised a student government executive, academic leaders, and university administrators.
The team comprised Professor Ivelaw Lloyd Griffith, Vice-Chancellor and Principal; Mr Calvin Bernard, Dean, Faculty of Natural Sciences; Dr Emanuel Cummings, Dean, Faculty of Health Sciences; Mr Dustin Roache, Vice-President, The University of Guyana Students’ Society; Dr Nigel Gravesande, Registrar; Dr Paloma Mohamed, Deputy Vice-Chancellor Designate for Philanthropy, Alumni, and Civic Engagement; Ms Paulette Paul, Public Relations Officer; Dr Elizabeth Ramlal, Deputy Vice-Chancellor for Planning & Development; Dr Michael Scott, Deputy Vice-Chancellor Designate for Academic Engagement; Mr Ronald Singh, Head, Department of Law; Ms Elena Trim, Dean, Faculty of Technology; Mr Jeffrey Walcott, Personnel Officer; and Ms Karen Wishart, Chief of Staff Designate.
The university said in the statement that the aim of the trip was not merely to raise money, so the return on the investment should not be viewed purely in financial cost-benefit terms. One of the objectives was to facilitate engagement with the diaspora in areas in Technology, Health Sciences, Natural Sciences and Law.
Hotel costs were subsidized since five members of the team were hosted by families of UG Ambassadors. In addition, Dr. Paloma Mohamed covered all her expenses.
Complementing the networking activities, funds were raised through a Vice Chancellor’s New York Area Support Group Fund Raising Reception and the Guyana Cultural Association Folk Festival Family Fun Day.

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