Parliament investigates constant “errors and omissions” in the books of the Ministry of Finance


Minister of State for Finance David Bahati. Officials from the Ministry of Finance at the center of the controversy.

Kampala, Uganda | THE INDEPENDENT | The National Economic Committee of Parliament is investigating the circumstances in which the Ministry of Finance failed to reconcile an amount of 666 billion shillings for the month of March 2020.

According to a presentation by the Parliament’s Budget Office to the National Economic Commission, up to 666 billion shillings were reported as errors and omissions by the Ministry of Finance. This is contained in a report from the budget office on the state of the Ugandan economy following the COVID-19 pandemic.

The budget office headed by budget director Sulaiman Kiggundu told committee members that the amount of money shown as errors and omissions in their accounts was far too high and needed to be investigated.

“Every time you add all of these sources, the external source and the domestic source, you find that you haven’t arrived at the amount you need to fund the cap, so the difference is errors and mistakes. “omissions. It should be very small because ultimately you should find out where the error was, when it is large it is questionable,” the officials said.

They said the Ministry of Finance had repeatedly recorded such errors and omissions in its accounts, including 816 billion shillings in June 2019, 993 billion shillings in July 2019, 403 billion shillings in November 2019, 650 billion shillings in November 2019, 650 billion shillings in shillings in January 2020 and now 666 billion in March 2020.

Committee chairwoman Syda Bbumba told URN that the errors are being investigated by looking at the huge amounts in billions of shillings that appear to be errors. Bumba says it’s unusual for a service to post such errors all the time.

Kaberamaido County MP Veronica Bichetero Eragu said the numbers are worrisome, but what is important is that the errors appear to span many years.

Erute North MP Jonathan Odur said that usually there is what is called a publication error in finance because someone can write 10 million instead of 1 million but it should be detected and rectified by balancing. He says it appears to be a well-orchestrated fraud to steal money.

Some finance and economics experts told URN that some real money could have been lost, but it could also be due to an issue with their tally not being reconciled.

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URN


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