Gulu University Administration is on the spot after the Parliamentary Accounts Committee gave the institution a month to account for over 4 billion Ugandan shillings that is missing.
This comes after the University audit reported total receipts of Shs7.787Bn, however, management disclosed receipts from educational services of Shs 12.080Bn in the statement of financial performance reflecting unexplained variance in revenue collected of over Shs 4 billion with auditors saying, the revenue balances aren’t clearly stated.
In defence, the Accounting Officer Gulu University stated that the institution collected Shs 8.7Bn as opposed to Shs 12.08Bn 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.
The Parliamentary committee, chaired by Chua West legislator Okin Ojara, was not satisfied with the University’s defence in alleging that the misstatement was as a result of a system error.
The committee members noted that, there was no two-way about it and that they must account for that money which will end up becoming receivable for the university.
‘’It cannot be dropped without evidence. There is no further appeal, do not even think about it.’’ Said Okin, the Chairperson Parliamentary Accounts Committee.
