## 27. Statement of Advance Accounts – (Statement No. 15) 

As at 31 March 2018 the total outstanding balance under these accounts was P1 675 596 251 and credits of P117 663 694 as well as a system difference of P4 292 100. 

A review of balances under this Statement gave rise to the undernoted observations and comments. 

(a) The balance of P1 675 496 251 indicated above included two items totalling P885 541 752 which I considered not appropriate to these accounts. An amount of P673 597 322 related to balance of purchase of shares in De Beers for which the appropriate account of charge is yet to be identified. The balance of P211 944 430 is in respect of purported loans/advances to be made from Public Debt Service Fund. 

(b) After the adjustment of the figures in (a) above, the remaining balance was P789 954 499. Out of this figure, the balances of accounts totalling P68 861 304 (9%) were non-moving. 

(c) The total amount owed to Government under the Motor Vehicle and Residential Property Loan Scheme was P8 763 421 in respect of the Residential Property Scheme and a credit of P860 482 under the Motor Vehicle Scheme. Of these amounts, a total of P6 391 789 (81%) was non-moving, including P539 353 under the Motor Vehicle Scheme. 

(d) The total credit balance of P117 663 694 should be investigated for clearance especially with respect to the long outstanding matter of the Student Advance Loan Scheme balance of P3 272 951 and the Government Sponsorship Loans of P109 997 486 both under the Ministry of Tertiary Education Research, Science and Technology. 

(e) It is over 8 years since the functions of the Ministries of Works and Communications and of Communications, Science and Technology were redefined into other Ministries and dropped from the establishment, and yet they continue to be reflected in this Statement with outstanding balances. 

## 28. Statement of Cash and Bank Balances – (Statement No. 16) 

As in previous years, the verification of the cash and bank balances as at 31 March 2018 had continued to reveal weaknesses and shortcomings in the reconciliation and monitoring of the accounts 

