Tue | Jun 19, 2018

Public entities owe NWA more than $1b

Published:Wednesday | January 31, 2018 | 11:01 AM
Auditor General Pamela Monroe Ellis says these fees have been outstanding for more than two years. - File Photo

Government agencies owe the National Works Agency almost $1 billion in management fees with one entity racking up outstanding payments amounting to $680 million.

The Auditor General's Department is reporting that as at March 31, 2016, the NWA's long-standing receivables stood at $1.74 billion, including management fees totalling $1.1 billion.

These fees have been outstanding for more than two years, according to Auditor General Pamela Monroe Ellis.

The NWA has said that more than 90 per cent of the sums owed represents outstanding fees from government entities for projects that were completed.

As a result of the massive fees owed to it, the NWA was unable to pay over to the Consolidated Fund the 50 per cent of net surplus earned in previous years in keeping with stipulated financial instructions to executive agencies.

The Auditor General recommended that the NWA strengthen its systems to improve the collection of debts and reporting of income.