Financial indiscipline, major dilemma of GETfund

GNA – Mr. Sam Garba, Administrator of the Ghana
Education Trust Fund (GETFund), on Friday said financial indiscipline was
the major dilemma of the Fund.
He said this when he appeared before the Public Accounts Committee of
Parliament to be scrutinized on the disbursement of Fund for 2004 and 2005.
He said there was so much indiscipline in the administration of the
fund, which was characterised by overrun budgetary allocations which
accumulated over the years.
He said for some years now GH ¢48, 560,000 was budgeted for but
administrators ended up spending GH¢74,473,123.
Mr. Garba said the amount was accumulated for a long time
and though the money was not siphoned into anybody’s pocket, there were new
applications considered instead of allowing them to wait for allocation in
the future.
The committee was wanted to know why the authorities of the fund
allocated vehicles to some private tertiary institutions in the country.
The committee observed that it was a violation of clause 2 (e) of the
GETFund law which stated that “The board could provide money to support such
other educational activities and programmes for the promotion of education.”
Mr. Garba assured PAC that GETFund would ensure that all projects
would completed and prudent in applying the funds.
GNA