KMTC Officials On The Spot Over Missing Sh7M Cash

Officials at the Kenyan Medical Training College on the Kuria campus collected $ 7.1 million in cash from students as fees, but never transferred the money.

The money was in the form of cash collected directly from the students, but the same was not reflected in the students’ accounts in June 2019.

Auditor General Nancy Gathungu has expressed doubts whether the college would get the money back, which is a large chunk of the outstanding Fees of Sh 10.4 million. made campus.

She raised the concerns in her report on the institutions’ finances for the year ending June 30, 2019, recently presented to Parliament.

Gathungu also gave Sh8 , 2 million of what was recorded in cash books but not in bank statements, hence “an indication that the cash was not deposited intact, contrary to financial regulations”. 559,738,289 reported on the balance sheet as of June 30, 2019, undetectable, ”said the auditor.

Officials also failed to show checks for 2.7 million shredders for processing in audits p> The Auditor General also expressed doubts about the collectibility of the unpaid fee balance of Sh 46.8 million for more than a year.

The audit also found that KMTC students still had fees of Sh 380 million as of 30 June 2019.

“Under the circumstances, the validity, correctness and full collectibility of the entire receivables balance reported as receivables from stock exchange transactions could not be confirmed,” said Gathungu.

KMTC, so the report is embroiled in a dispute with the University of Nairobi over 96 rooms that were occupied by medical students at the university at the rate of Sh80 per day.

The rent was at Sh73. accumulated 0.8 million in June 2019, with the auditor questioning why the lease was not presented to her for review.

G athungu cast doubt on the college’s ability to get the money from the rent it had accumulated over the years would get back.

“Although management has indicated that the college has issued letters of formal notice to the university to settle the outstanding amounts and a leave notice so the college student can occupy the dormitories, the rent is said to be down has been accumulating for over 20 years, ”the audit report said.

Also worrying is that the college failed to assess and disclose in records some parcels of land occupied by 45 campuses across the country.

KMTC also has no auditing, title documents for 18 plots at headquarters and constituent colleges with acreage of 241,731 hectares valued at 333 million shorts.

“As a result, it could The accuracy, completeness and ownership of land with a value of 333 million short on June 30, 2019, is not confirmed, “said Gathungu.

She also asked why the college still needs to upgrade its land, the last was in 2005.

The 2005 valuation, which was more than 16 years ago, put the property at $ 1.165 billion, with the auditor saying the college’s assets may be severely undervalued.

“Management has not explained why the college property has not been revalued since 2005 to determine the fair value of the property,” said the Auditor General.

“Under the circumstances, I cannot confirm the existence of effective internal controls in the countryside,” she added.

The auditor also indicated the accuracy of the information on the institution’s performance for the year and gave a deviation of 55 4,123,706 Sh an on both the income and expenditure votes.