NASSAU, BAHAMAS — The prime minister has instructed the Bahamas Public Parks and Public Beaches Authority to further inquire into the findings of an audit report into the internal controls and operations of the authority.
The audit, which was conducted by K Christie & Co after the government came into office and released by Press Secretary Clint Watson earlier this month, revealed that hundreds of thousands of dollars were issued during the last administration without any real identifiable need.
Asked about the report during his final press conference at the of the year yesterday, Davis said: “The preliminary observations made by the accounting firm that was engaged reveal many troubling issues that require further in-depth investigation and the instructions are along that line — to carry forward with those in-depth inquiries to see where it leads and wherever it leads, the chips will fall where they may.”
The revelation came after growing concern with contractors who claimed they have not been paid by the Davis administration for work completed and their contracts have not been honored.
The government has said it decided to terminate all current contracts in a legal manner but assured that every contractor who has a valid, legal contract will be paid.
The preliminary observations made by the accounting firm that was engaged reveal many troubling issues that require further in-depth investigation.
– Prime Minister Philip Brave Davis
For their contracts to be honored, every vendor will have to provide the basic KYC documentation for the maintenance of proper internal records, including IDs and bank details, and be tax and NIB-compliant.
The report concluded that the Bahamas Public Parks and Public Beaches Authority requested and received consistent supplemental funding beyond its annual budget in the last three fiscal years.
The authority ran over budget in its award of contracts by $6.8 million between July 2019 and June 2020, and by $13.7 million between July 2020 and June 2021.
Up to October 31 of the current fiscal year — July 2021 to July 2022 — the authority spent nearly $9.3 million of its annual budget and would have overspent by $12.7 million if allowed to stay on that trajectory, the report outlined.
The authority was paying out some $2.7 million monthly to 12,000 to 14,000 vendors, according to newly instated Chairman of the Public Parks and Public Beaches Board McKell Bonaby.
Loading ...
