The Tribune

By LEANDRA ROLLE

Tribune Staff Reporter

lrolle@tribunemedia.net

MORE than $1m is owed to the Bahamas Technical and Vocational Institute (BTVI) by the Ministry of Education, according to an audit into the institution.

“The outstanding amount of $1,749,310.50 was invoiced and BTVI is awaiting payment of the same. It is recommended that the outstanding amount of $1,749,310.50 be paid to BTVI and indicated in the balance sheet under accounts receivables,” the report read.

The audit, which was conducted by Auditor General Terrance Bastian during the periods of July 1, 2018 to June 30, 2019, July 1, 2019 to June 30, 2020 and July 1, 2020 to June 30, 2021, was tabled in the House of Assembly yesterday.

It found that policy procedures were not followed as laid out in the BTVI Act such as the requirement to have its financial statements audited each year and that the accounts office was not properly secured among other things.

“The statements for the years 2017, 2018, 2019 and 202 are unaudited,” the report said.” It is recommended that BTVI management engage the services of an accounting firm to have the financial statements audited, brought up to date and presented to Parliament.”

The report also speaks of the lack of proper documentation to validate credit card purchases or charges and recommends that internal controls for the use of credit card be strengthened and personal expenses by cardholders via the credit card be discouraged.

“Reconciliations are not being performed, charges are being made without receipts and to indicate that approval was obtained,” the report said.

It also highlighted challenges faced by the institutions Fund Development Department, noting there are no policies or procedures manual in place.

“The FDD is facing a number of systematic challenges. Details are as follows: no budget to carry out fundraiser or any other departmental expenses; lack of support from the board and management to carry out its mandate; lack of meetings with the president; staff shortages, presently staffed by two officers; exclusion from meetings when decisions are made; lack of access to empower to utilize the scholarship module,” among other things.

As it relates to payrolls for the period October 15, 2019 to July 30, 2020, auditors noted that it observed a difference of $95,596.57 and recommended that the institute provide an explanation for the difference.

The audit also highlights outstanding student receivables.

“Students at BTVI Abaco and Andros have made a number of payments, of which the student financial services division has no record. Island coordinators in the districts of Abaco and Andros were given receipt books. However, no funds were remitted to the accounts department,” the report notes.

“It is recommended that the use of manual receipt books be minimised and a more reliable method for collecting fees be introduced to improve accountability and transparency.

The report added: “A student was allowed to register while having an outstanding balance from previous semesters. In addition, students were allowed to register without a verification letter, transcript and Ministry of Education grant evidencing good standing.

“It is recommended that the documented policy for registering students be followed. It is further recommended that students be made to sign a formal agreement acknowledging their indebtedness to the institute,” the audit said.