GETFund saves GH¢22.7m in audit review of 2017-2019 contract payments

The Ghana Education Trust Fund (GETFund) has saved GH¢22.7 million from an audit review it conducted from 2017 to 2019 on contract payment certificates.

The review identified errors in arithmetic computations, application of non-contractual rates in valuations, usage of outdated indices for computing fluctuations, among others.

The Head of Public Relations at the Ministry of Education, Vincent Assafuah, told the Ghanaian Times yesterday that the rates used to value the works of some contractors were different from what was in the contract document.

“Such rates were reversed to the contractual rates as found in the Contract Documents presented,” he said.

Besides the rates, he said the indices used in the computation of some fluctuations were outdated and, as a result, non-applicable.

“Corrections that resulted in reductions impacted on consultancy fees charged for the respective projects, since consultancy fees are based on percentage of certified works” he added

Mr Assafuah said the review further revealed that 80 certificates submitted had no corresponding valid contract documents, adding that the affected certificates withheld so far amounted  to GH¢8.9 million.

By Times Reporter                                    

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