Key findings from the GAC report indicate that NTA management failed to maintain a trial balance, a crucial component for preparing final accounts.
Monrovia—The Legislative Public Accounts Committee has held public hearings on a report from the General Auditing Commission (GAC), which audited the National Transit Authority (NTA) from July 1, 2016, to June 30, 2018. The audit uncovered significant deficiencies in financial management and oversight within the agency.
Key findings from the GAC report indicate that NTA management failed to maintain a trial balance, a crucial component for preparing final accounts.
Additionally, the Auditor General identified a lack of evidence for a payment of L$69,121.70 related to employees’ contributions to NASSCORP.
During the hearings, several former senior officials of the NTA expressed ignorance of the audit report’s findings, claiming that their former boss had kept the information confidential.
The audit revealed that NTA management operated with US$3,570,345.21 without submitting required quarterly budget performance reports. Furthermore, it noted inadequate supervision of daily attendance logs, leading to personnel being processed for payroll without proper verification against attendance records.
The report also highlighted a failure to maintain comprehensive records of fuel expenditures totaling US$769,296.26, with missing logs detailing daily fuel intake and usage.
Additionally, the GAC audit pointed out that there were no stock reports from July 1, 2016, through June 30, 2017, and a lack of evidence for a strategic and operational plan to guide the authority towards measurable goals.
The audit claimed that no documented risk management policy was established to address internal and external risks that could impede the authority’s objectives.
Furthermore, the NTA management reportedly disbursed L$450,970.00 directly from bus intake without employing a voucher system.
Meanwhile, the hearings continue to expose critical issues within the National Transit Authority’s financial management practices, emphasizing the need for accountability and transparency in government agencies to foster public trust.
