GODLOVEME
JF-Expert Member
- Apr 3, 2012
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A missing $1 billion?
Skipping ahead to the analysis of actual withdrawals, more mismanagement as well as misallocation comes to light. Among other striking findings is the release of TSh 976.96 billion ($420 million) “without appropriate authority” (p 19-23). Several different ministries were affected; however, in a meeting with the PAC, the CAG reportedly told the committee that the Treasury was unable to provide further evidence of the releases, and the Paymaster General instead claimed money went to State House. It is worth remembering, State House is not audited by the CAG.
This story needs additional follow-up and confirmation, but in any event, the TSh 976.96 billion remains a big question mark and, as the report affirms, “Arbitrary reallocations indicate the need for improving distribution of the budgeted funds” (p 30).
One last point bears consideration. Although financial management may be so poor as to make effective auditing or the “discharge of the [CAG’s] constitutional mandate” (pp 29-30) all but impossible, what of the TSh 1.5 trillion ($640 million)?
In the end, the audit debunks this figure. But in its place emerges a much bigger one: TSh 2.4 trillion ($1.03 billion).
This is the figure accountant and opposition MP Ruge cited in parliament and later detailed in an article. It is the sum of all the anomalies and audit queries recorded in the CAG report, namely the following:
TSh 976.96 billion of unauthorised reallocations (pp 19-23)
TSh 656.6 billion discrepancy between Exchequer Issues Warrants and the Exchequer Release Report (p 29)
TSh 290.67 billion of unsupported overdraft (p 3)
TSh 234.12 billion of Exchequer Issues Warrants issued without proper explanation (p 23-4)
TSh 189.99 billion unapproved withdrawals from the Consolidated Fund (p 19)
TSh 3.45 billion unjustified linked to cancellation of Exchequer Issue Warrants (p 26)
TSh 3.26 billion incorrect Exchequer Issue Warrants (p 24)
https://africanarguments.org/2019/0...(p 24) sing-millions-reveals-missing-billion/
Skipping ahead to the analysis of actual withdrawals, more mismanagement as well as misallocation comes to light. Among other striking findings is the release of TSh 976.96 billion ($420 million) “without appropriate authority” (p 19-23). Several different ministries were affected; however, in a meeting with the PAC, the CAG reportedly told the committee that the Treasury was unable to provide further evidence of the releases, and the Paymaster General instead claimed money went to State House. It is worth remembering, State House is not audited by the CAG.
This story needs additional follow-up and confirmation, but in any event, the TSh 976.96 billion remains a big question mark and, as the report affirms, “Arbitrary reallocations indicate the need for improving distribution of the budgeted funds” (p 30).
One last point bears consideration. Although financial management may be so poor as to make effective auditing or the “discharge of the [CAG’s] constitutional mandate” (pp 29-30) all but impossible, what of the TSh 1.5 trillion ($640 million)?
In the end, the audit debunks this figure. But in its place emerges a much bigger one: TSh 2.4 trillion ($1.03 billion).
This is the figure accountant and opposition MP Ruge cited in parliament and later detailed in an article. It is the sum of all the anomalies and audit queries recorded in the CAG report, namely the following:
TSh 976.96 billion of unauthorised reallocations (pp 19-23)
TSh 656.6 billion discrepancy between Exchequer Issues Warrants and the Exchequer Release Report (p 29)
TSh 290.67 billion of unsupported overdraft (p 3)
TSh 234.12 billion of Exchequer Issues Warrants issued without proper explanation (p 23-4)
TSh 189.99 billion unapproved withdrawals from the Consolidated Fund (p 19)
TSh 3.45 billion unjustified linked to cancellation of Exchequer Issue Warrants (p 26)
TSh 3.26 billion incorrect Exchequer Issue Warrants (p 24)
https://africanarguments.org/2019/0...(p 24) sing-millions-reveals-missing-billion/
