Pantrinbago President:” We are over 40 Million in debt”

Pantrinbago President:” We are over 40 Million in debt”

President of Pantrinbago Mrs. Beverly Ramsey Moore says that the organization has over 40 million dollars in liabilities.

She said when her executive took office it was in the vicinity of over 60 Million but they have been able to clear over 10 Million in fees owed to pan men. This in the wake of an audit by Ernst & Young which has uncovered missing invoices, no formal contract and a general lack of accountability and transparency protocols and practices.

Ernst & Young audit has uncovered the following: Under former president Keith Diaz, the organization entered into six management consultancy contracts with FCL but the audit was only able to find formal CEC approvals for two of those contracts. Total payments to FCL between 2013 to 2016 was TT$3,767,157 but cheque vouchers for TT$280,000 was missing. In 2013 for panorama almost 50% of invoices were not stamped or signed, in Panorama 2016, 25 of 48 invoices were also not stamped nor signed. There were five instances for Panorama 2013 where cheques were completed and signed off before the vouchers were dated to authorise, resulting in unauthorised payments totaling TT$3.5 million. The orgnization’s foray into the International Conference for Panorama cost the organization TT$ 9.1 Million in losses with an overall expenditure of TT$18.2. Of this expenditure of TT$18.2 million the auditors were only able to validate TT $11.5 million. In relation to the Panorama conference 50 payments totaling TT$4.7 million had to vouchers authorising them.

Keith Diaz

Mrs. Ramsey Moore said in the interview on Power 102fm this morning that the details of the audit did not surprise her or her team given their concerns and what they found upon taking office.

NCC Chairman
Winston Gypsy Peters

Also weighing in on the situation was NCC Chairmen Winston Gypsy Peters who on Power 102 this morning said the audit finding also did not surprise him as he has had concerns about her running and accountability of many culture related interest groups for years. He was in support of a suggestion to pass the relevant audit documents over to the TTPS for investigations.

COMMENTS

WORDPRESS: 0
DISQUS: 0