My Morning Paper July 15th, 2014 The Missing Cash Moving away from Mr. Wendell Jones and allegations that he may owe the Bahamas Electricity Corporation more than $100,000 and his pronouncement that his bills a government owned corporation is his business, I am more stuck by the headline of The Tribune, “Missing funds feared at CoB – Finance chief blamed for poor policies as $12, 000 disappears.” Excerpt from this story; “An audit of operations at the College of the Bahamas’ Oakes Field Business Office has concluded that the vice president of finance was negligent in her duties and did not ensure the proper controls for decreasing the risk of thief were implemented. The audit was ordered after $12,000 went missing from the office last year.” As if this news were not bad enough in light of the recent non-payment of taxes or other bills to government owned agencies by high profile persons in the country we then have; “Government called on to address ‘missing funds’. – The Nassau Guardian Business section. Excerpt from this story; “A major business with operations in Abaco have been unable to pay over $650,000 in duties owed to the government since January, as the company’s cheques have not been cashed , Guardian Business understands . A source close to the matter speaking on the condition of anonymity, said that he believes the apparent failure to cash the cheques may be connected to the ‘missing’ $500,000 from the Customs Department in Marsh Harbour, Abaco which was reported in June have been under investigation by police.” My comments is only that since May 2012 there has been an uptick in the amount of misappropriation of funds, whether unpaid taxes to the government or monies just plain going missing without a trace or plausible explanation. END
Posted on: Wed, 16 Jul 2014 01:15:07 +0000
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