Sunyani Technical University (STU) meets with the Public Accounts Committee – 2018
HCIM block, which was funded by the GETFund, the Vice-Chancellor explained that the project was very dear to the heart of the institution since it was needed to qualify for the conversion criteria from Polytechnic to Technical University status.
Sunyani Technical University (STU) officials led by the Vice-Chancellor, Prof. Ing. Kwadwo Adinkrah-Appiah, on Monday, February 19, 2018 met members of the Public Accounts Committee (PAC) of Parliament in Sunyani to respond to issues raised in the 2015 Auditor-General’s report.
One of the main issues raised in the report included a loan facility obtained from the Ghana Commercial Bank (GCB) to complete the ultra-modern HCIM block with facilities such as lecture halls and offices for all Deans, among others.
Another issue that caught the attention of the Committee was the closeness of the Land-fill site to the GETFund Hostel and Waterloo lecture halls of the University.
The Pro-Vice Chancellor, Dr. Justice Solomon Korantwi-Barimah, the Registrar, Mr. S.A. Obour and the Director of Finance, Mr. Prince N.B. Menzo, Director of Works, Mr. Isaac Abbam and the Director of Internal Audit, Mr. Kyeremeh A. Ameyaw represented the institution at the sitting.
Throwing more light on why the institution borrowed from the GCB to finance the completion of the HCIM block, which was funded by the GETFund, the Vice-Chancellor explained that the project was very dear to the heart of the institution since it was needed to qualify for the conversion criteria from Polytechnic to Technical University status.
In that regard, the institution (then a Polytechnic), with approval from Council sourced for a credit facility from GCB to complete the project when it was realized that allocations from the GETFund meant to complete it were not forthcoming.
He further explained that per the agreement with the GCB, the institution was servicing the loan with part of its Internally Generated Funds (IGF) with the view to reimburse the institution whenever GETFund releases funds for payment.
Even though the Committee was happy about the completion of the project, it advised that prior approval must first be sought from the Ministry of Finance and the Ministry of Education before such a transaction is entered into in future.
On the closeness of the Land-fill site near the university, the Vice-Chancellor explained that the Sunyani Municipal Assembly has assured the institution that it will soon re-locate the facility to Kotokrom, which is far from the city.
The Committee Chairman, James Klutse Avedzi discharged the Vice-Chancellor and his team after about two hours of questioning.
Source : PR Unit (STU.edu.gh)