spot_img
8.3 C
London
HomeNEWSCEO of Water Agency attributes missing of Ksh1.1 billion to fire

CEO of Water Agency attributes missing of Ksh1.1 billion to fire

The National Assembly is looking into the National Water Harvesting and Storage Authority after the Auditor General discovered Ksh1.1 billion in stolen funds at the organization.

Managing Director John Muhia testified before the National Assembly Public Investments Committee on Commercial Affairs and Energy that no bank statements prior to the year 2009 could be located since all accounting records were destroyed in a fire that completely damaged the authority’s facilities.

The agency had reached a dead end, according to the managing director, after its lender stated in a letter dated June 27, 2023, that it was unable to give the information needed for the period spanning 14 years.

The agency received accounting inquiries from the Office of the Auditor General for the Financial Years 2018/2019 to 2020/2021.

Members of the committee were curious as to why the bank reconciliation statement indicated that the cashbook contained a Ksh1.95 million error, which should have been corrected in the cashbook prior to performing the reconciliation.

David Pkosing, the committee’s chair, enquired about whether the authority had a digital copy of the pertinent data.

The Auditor General’s assertions that the Authority had hidden and lengthy outstanding loans of Ksh2.5 billion are also being looked into by the Committee.

The Committee also observed that the value of various assets totaling Ksh16.8 million that were slated for transfer to various Water Works Development Agencies was not reflected in the Authority’s financial records.

In addition, the committee was supposed to look into any audit concerns with the Geothermal Development Company (GDC) from the Financial Years 2017–2018 through 2020–2021.

However, the hearing was postponed to a later time after the Company’s Managing Director informed the Committee that he had been called to an urgent meeting at the Attorney General’s Office.

Pkosing issued the order to adjourn, citing the need for the MD—the Company’s chief accounting officer—to abide by the summons from the office of Attorney General Justin Muturi.

latest articles

Explore More

LEAVE A REPLY

Please enter your comment!
Please enter your name here

error: Content is protected !!