Following reports by different media houses about missing funds of up to a tune of UGX 4.4 billion on Friday 24th August 2018, Makerere University management has come out to distance themselves from the allegations and counterface it with their own facts.
In the statement, management maintains that Makerere University is committed to the highest standards of probity in financial management and takes seriously any allegations of financial loss.
In the clarification, management informs the public that 3.5 billion which is alleged to have been lost refers to arrears owed by Makerere University Business School (MUBS) in form of functional fees that were not remitted to the university. Consequently, the funds cannot go missing before they are even received.
Management informs the public further that they are in discussions over the settlement of that obligation.
The rest of the alleged unaccounted for money, management clarifies that it was accounted for at the end of the 2017/2018 financial year.
However, the reporter in the story spoke to the University Secretary, Mr Charles Barugahare who is the accounting officer of the university, and accordingly, he said that would respond to that story after receiving a full handover report of the former Bursar Mr Augustine Tamale. The missing funds, still according to the reporter, were captured in the Hand Over report of the resigned University Bursar.
