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General news for Sunday, September 13, 2020
Source: Starr FM
2020-09-13
File Photo: Koforidua Technical University
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After a forensic financial audit, a financial embezzlement of GH ¢ 620,457.32 was discovered at Koforidua Technical University (KTU).
The audit report published on August 6, 2020 revealed many irregularities and financial infractions perpetuated by some people in the previous administration of the University.
The defendants have been asked in a recommendation in the audit report to return the money or be prosecuted.
The president of the University Council, Prof. Samuel Nana Obeng Apori, on Saturday September 12, during the 16th Congregation and investiture of the new vice-rector of the University, explained that those responsible are not being shielded.
“There is information on allegations of fraud at Koforidua Technical University amounting to one million Ghana Cedis. Generally, the perception is that alleged offenders are being protected. Let me inform everyone that there is a special audit report on the alleged fraud. The actual amount involved was GH ¢ 620,457.73. The report was audited by the Ghana Audit Service and dated August 6, 2020. This should put an end to all speculation as the report’s recommendations are being strictly adhered to. “
Meanwhile, the new leadership of the University has paid off a debt of ¢ 5 million GH inherited upon taking office in 2017, allowing the University to undertake relatively minor infrastructure projects.
“Having completed the payment of the debt of approximately 5 million cedis that the Council inherited when taking office in 2017, the Council has allocated 50%, that is, approximately 3.5 million cedis of the money collected between September 2019 and August 2020 of its meager Internally Generated Fund for rehabilitation or remodeling and maintenance of the physical structure and updating of the University’s Information and Communication Technology infrastructure, database center and acquisition of tools and equipment to improve facilitation of the Teaching and Learning process ”, explained the President of the Council.
Professor Obeng Apori said that the coronavirus pandemic has affected the University’s cash flow due to non-payment of fees as a result of school closings to contain the spread of the virus.
A situation that has been aggravated by the delay in the payment of funds to the University by statutory bodies such as the Student Loan Trust Fund, the Scholarship Secretariat and GETFUND. She advised that these organizations should synchronize their disbursement period with the academic calendar of the different educational institutions to stop the Challenge.
“Currently, the Student Loan Trust does not deliver funds on time to beneficiary students. These students are subject to restrictions for not being able to pay their school fees on time to register within the stipulated period of the tertiary academic calendar and other levels of higher education. Students with scholarships, GETFUND, sponsorship of the district assembly also do not receive their disbursement on time. “
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