Makerere University management has dismissed reports that money amounting to Shs4 billion was lost from its accounts as highlighted in the handover report of the former bursar, Mr Augustine Tamale.
The university management explained that 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,” a university statement published in the print media yesterday reads in part.
They also said that the other Shs236 million and Shs43 million, which was withdrawn from the project accounts under unclear circumstances, was accounted for before the end of the financial year 2017/2018.
Mr Tamale’s handover report seen by Daily Monitor stated that more than Shs4 billion was lost by the university, which he said should be recovered. The report also claimed that $82,225 (Shs306m) was borrowed as advance by some university staff to carry out research and was supposed to be refunded after receiving their funds from the donors but it has not been recovered.
According to the press statement, Mr Charles Barugahare, who is the university’s accounting officer, said the institution has 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 newspaper that the university has already reconciled the figures they are supposed to pay to Makerere, which he said they would clear.