The Holy Family SHS Located in Hamile, a Business Community in the Lambussie District of Upper West Region has been task to Recover an Amount of GH¢108,552.36 from A Defunct Bank by Name GN Bank affected by the Financial Sector Clean Up of Bank of Ghana in 2019.

In the Statement found in the Report of the Auditor-General on the Public Accounts of Ghana, Pre-University Educational Institutions for the
financial year ended 31 December 2021, it indicated that the School’s Revenue Including Feeding Grants, Free SHS Cash and Subsidy were Locked up in the Bank.

Regulation 32 of the Public Financial Management Regulations, 2019
(L.I. 2378), directs that, a principal spending officer of a covered entity shall take effective and appropriate steps to collect money due to the covered entity.

Our audit revealed that the management of Holy Family Senior High School, Hamile could not access a total amount of GH¢108,552.36 from the bank account number 4027111000222 with GN Bank – Nandom Branch as:

Lock up funds with Defunct GN Bank- GH¢108,552.36.

Distribution is as follows: Free SHS – Ghc46,744.80, Subsidy – Ghc14,770.59 and Feeding Grants Ghc47,036.97 Totaling GH¢108,552.36

The Auditor General’s Directive is as Follows:

Management attributed this situation to the financial sector clean up
by the Bank of Ghana in 2019. The school was therefore unable to access the funds to meet its financial obligations. We recommended to management to follow up to the receiver for the recovery of the GH¢108,552.36.

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Source: Upper West Media App