MPs on the Public Accounts Committee (PAC) quizzed officials of Gulu University over the missing Shs4.2Bn revenue they collected from students in tuition in 2019.
The officials from the University had been summoned to respond to queries raised in the June 2019 auditor general’s report that exposed a number of loopholes in the University’s financial statement.
The University audit reported total receipts of Shs7.787Bn, however, management disclosed receipts from educational services of Shs12.080Bn in the statement of financial performance reflecting unexplained variance in revenue collected of Shs4.293Bn with auditors saying the revenue balances aren’t clearly stated.
The accounting officer stated that the University collected Shs8.7Bn as opposed to Shs12.08Bn disclosed in the financial statements indicating that this was a system error that would be adjusted. However, there were no adjustments made to the accounts by management.
Additionally, the statement of financial performance disclosed transfers to treasury of Shs6.629Bn however, a review of acknowledgment receipts of transfer of funds revealed total transfers of Shs6.103Bn reflecting unexplained variances or misstatements of Shs525.960M.
The audit team also revealed that whereas the University’s statement of financial performance disclosed employee costs at Shs38.029Bn, an analysis of the trial balance revealed employee costs of Shs37,420 indicating misstatement to the tune of Shs609.765M.
Yet still, the University’s statement of financial performance disclosed goods and services consumed as Shs3.774Bn, however, analysis of the trial balance revealed a balance of Shs3.747Bn reflecting unexplained variance of Shs26.9M.
A review of the IFMS payment file, Don Italian bank account and University Agriculture Bank account showed that expenditure totaling to Shs424.704M lacked payment vouchers and other supporting documentation. In the circumstances, I was not able to confirm the authenticity of the stated expenditure and utilization of funds.