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$4.7M in donations received by EPA unverified – 2021 Audit
(Kaieteur News) – An Audit of the Environmental Protection Agency (EPA) in 2021 has uncovered that some $4.7M in donations/ income were unverified, raising questions about accuracy of the amount and more importantly its use.
The report was laid in the National Assembly at the last sitting on June 5, and is the most recent audited financial statement of the regulator.
The document states that the sum of $452.917M represents equity on the financial statements for the year 2018. It added, “Included in this amount, is the sum of S4.718M which represents miscellaneous income/donations coming forward from previous years and for the year under review.”
Notably, the accuracy of the amount could not be verified as documentation was not provided to verify the figure.
In response to the finding, EPA acknowledged that $4.718M was recorded in ‘equity’ as miscellaneous income/donations. To this end, the agency explained, “Efforts are underway to review historical records and reconcile available documentation. Where records cannot be located, the balances will be regularized in keeping with the FMAA (2003).”
It added that going forward, its finance department will ensure all such income is fully documented and properly retained.
The audited financial statement reveals that EPA’s revenue for 2021 was $1,815,267,356. The amount includes $603.5M subvention from government, $278.5M in revenue from operations and $933.2M in ‘other income’.
Revenue from other income includes sale of tender documents and other income.
Meanwhile, the agency’s financials indicate that its annual expense was $636.6M in 2021. The EPA, headed by Kemraj Parsram ended the year with $597M in assets including buildings, vehicles and equipment among others.
The EPA was established under section three of the Environmental Protection Act. Its functions include (a) to take steps necessary for the effective management of the natural environment so as to ensure conservation, protection, and sustainable use of its natural resources; (b) to promote the participation of members of the public in the process of integrating environmental concerns in planning for development on a sustainable basis; (c) to co-ordinate the environmental management activities of all persons, organisations and agencies; (d) to establish, monitor and enforce environmental regulations; (e) to prevent or control environmental pollution; (f) ensure that any developmental activity which may cause an adverse effect on the natural environment be assessed before such activity is commenced among others.
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