Makerere University administration came out to dismiss reports circulating that money totaling to Shs4 billion was lost from its accounts as highlighted in the handover report of the former bursar, Mr Augustine Tamale.
MUK management further explained the money in question is what Makerere University Business School (Mubs) is supposed to remit to their account.
“A total of Shs3.5 billion, which is alleged to have been lost, refers to arrears owed by Mubs to Makerere University. These funds have not been received on any Makerere University bank account and, therefore, could not go missing before they received it. Makerere University and Mubs are still in discussions over the settlement of this obligation,”
They added on that the claimed Shs236 million and Shs43 million, reported to have been withdrawn from their project accounts under unclear circumstances, was actually accounted for during the end of the financial year 2017/2018.
Mr Tamale’s handover report which our correspondent saw was stating that almost more than Shs4 billion was lost by the university, which he said would be recovered. The report further asserts that $82,225 (Shs306m) was advance borrowed by University staff for research and was meant to be refunded after receiving their funds from the donors but it has not been recovered.
According to released press statement, Mr Charles Barugahare, the current university accounting officer, affirms that stitution is a mutual understanding with development partners to deal with special circumstances of delays in release of funds to guarantee timely implementation of project activities.
“The settlement of part of the funds constituting Shs306 million is ongoing in line with the understanding between the university and the partners (these are partly advances made by the university to academic staff to start implementation of projects activities before the partners remit the project fund),” the statement adds.
Mubs spokesperson Peter Odoki had earlier told this blog t hat the university has already reconciled the figures they are supposed to pay to Makerere, which he said they would clear.