Wednesday, November 25, 2020

UTG Presents Activity Report, Financial Statements to Education Committee

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By: Kebba AF Touray

The officials of the University of the Gambia have appeared before the National Assembly Select Committee on Education, to present their activity reports and financial statements, for the year ended 31st December 2020, for scrutiny, consideration and report to the plenary for final adoption.

Mr. Ounsainou Corr, UTG Finance Director, informed the committee that the UTG statement of income indicates a surplus of income over expenditure of D26. 4 million (an increment of 5.98 million) in 2017 when compared to 2016.

He said this is as result of total income of D162.03 and increase of 12.2 percent from the financial year 2016.

Officials of the Education Committee

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He said an expenditure of D135.6 million with an increase of 11.6 million from the previous year arose mainly from employment cost, amortization and depreciation. He said the balance sheet indicates a total asset of D230 million (an increase of D21.5 million or 11.1 percent) over the 2016, despite the reduction in cash and cash equivalent.

He said this is as result of significant tangibles from work in progress and the unpaid fees from stakeholders under the student debtors.

He said the statement of cash flow depicts increased net cash generated from operating activities of D10.4 million as a result of decrease on payable and a surplus of income over the expenditure during the year 2017, despite the depreciation form additional acquisition.

He said:  “However, the overall net decrease in cash and cash equipment equivalent for the year ended 2017 of D29.95, is mainly from cash flow from investing activities of D39.48 million. Consequently, the cash and cash equivalent as at end 31st December 2017, shows D 60.66 million (a decrease D29 million when compared to 2016 of D89.72 million)”.

Mr.Paul Gaye, Audit engagement partner, informed the committee that during the audit exercise, they have found some issues such as no staff target for appraisal, appraisal limited to junior staff, missing payment vouchers, unauthorized requisition forms, unauthorized payment vouchers, payment vouchers without receipts and payment vouchers with no supporting documents.

He said: “We thus recommend that the UTG among other things that the staff target for appraisal be derived from the University’s manual, the UTG to urgently consider possibility of investing on a software that will enable students to have access and manage their account with UTG, UTG ensure the calculation and accounting of the monthly payroll and be returned to the Finance Department without delay, and creation of a repayable scheme.”

UTG Officials responded that among other things, the Human Resource Department directed to prepare a payroll by the governing council, subject to the review by the Management, that future MoUs would be thoroughly vetted to ensure donor requirements are aligned with the financial regulations of the University. He said a new comprehensive staff appraisal system has been developed and approved already by the governing council during 2018 and include target setting for both senior and junior administrative staff.

According to GPPA Officials, the UTG in 2017 were found to be 50 percent complaint with the Public Procurement Act.

Sitting continues tommorrow Tuesday 3rd November 2020 at 11am prompt.

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