The Auditor-General?s Report on the Management and Utilization of District Assemblies Common Fund and other statutory funds has revealed gross misappropriation of state funds to the tune of GHc48.4 million between the 2010, 2011 and 2012 fiscal year.
The report stated non-compliance with legislative framework and weak monitoring systems by key figures in the Assemblies continued to cost the state huge losses and thereby slowing down the spate of development generally across the country.
Mr. Kwaku Agyeman-Manu, Chairman of the Public Account Committee (PAC), was reading sections of the Report at a public hearing on some assemblies in the Western and Central regions at Takoradi.
The areas of misappropriation included tax and procurement irregularities, unretired imprest, unpaid loans and allowances for meetings from the Common Fund meant for development.
He said the low level of commitment by the accountants, budget officers, District Finance Officers and coordinators to get the right things done if not checked and stopped could be a bane to the quest for the country to develop.
Mr. Agyeman-Manu said he wondered why monies meant for development projects were always misappropriated adding, ?We need to sit up, otherwise there would be nothing left for the benefits of the citizenry?.
The PAC chairman said the committee would look into the specifics of the commission and omissions and ways to motivate coordinators to do better in handling the resources entrust into their hands.
Alhaji Ibrahim Dey Abubakari, Ranking Member of the PAC, said there had been no improvement in the financial management of MDCEs and appealed to the PAC to apply the appropriate sanctions and punitive measures as proposed by the Auditor-General?s Report.
Mr. Alfred Ekow Gyan, Deputy Western Regional Minister urged the PAC to work hard in ensuring efficiency in the financial management of public institutions and ensure that value for money was derived.