Kalkrand Village Council fails to account for N$4 million

Kalkrand Village Council fails to account for N$4 million
Photo credits: 

The Kalkrand Village Council failed to account for over N$4 million according to a report by the Office of the Auditor-General (OAG) for the 2016/17 financial year.
According to the report recently submitted to the National Assembly by Deputy Minister of Finance, Natangwe Ithete, this is due to lack of supporting documents and unconfirmed amounts from the council.
In addition, the insufficient evidence was submitted on 23 November 2017, which was three months later than required by the OAG.
The AG therefore decided to express a disclaimer audit opinion on the financial statements.
There were no supporting documents for trade and other payables amounting to N$998 887.
A further N$2,8 million was for unconfirmed depreciation.
N$157 034 in employee cost, N$116 896 in consulting fees and N$108 947 for the water account was unaccounted for in unexplained differences, Auditor General Junias Kandjeke further revealed in the report.
During the period under review, another set of documents for expenditure was not submitted and amounted to N$47 825.
Third party payments amounting to N$135 269 was not paid.
Cumulatively, the figures unaccounted for amounted to N$4 334 334.
There were also wrong tariffs paid for municipal services and the cash flow statement amount for net decrease in cash and cash equivalents was wrongly cross casted as N$160 716 instead of N$18 988, which led to the cash and cash equivalent at the year-end not reconciling in the balance sheet.
The OAG, however, did not find any information that was materially inconsistent with the financial statements.
“Because of the significance of matters described in the Basis for Disclaimer of Opinion paragraph, I have not been able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion.
Accordingly, I do not express an opinion on the financial statements,” Kandjeke reported.