Anomalies noted in SGS Trust Fund Accounts

A number of anomalies have been noted in the Trust Fund Accounts of Suva Grammar School after the audit and analysis carried out on the 2006 accounts by the Public Accounts Committee.

The Public Accounts Committee said although the trust funds were not government funds as such, they were governed by very specific regulations for their usage to ensure that they were not abused, as they were held in trust.

The Committee noted that according to the Rules and Regulations of the Trust Fund, there was a specific list of payments that could be made from each of the trust fund accounts and any payments outside of it should have the approval of the Permanent Secretary.

According to the Regulations, Suva Grammar School was also required to obtain the approval of the Permanent Secretary of any expenditure about 500 dollars.

The Committee noted that the school was regularly making payments above 500 dollars without obtaining approval.