Auditor Gen. Recommends Post Office Probe

Advertisement

NASSAU, BAHAMAS – An Auditor General’s report suggests an investigation be launched into unaccounted-for funds at the San Salvador and Rum Cay Post Office, saying it could result in long-term loss of funds.

The Auditor General report for the period January 1, 2020 to October 30, 2021 examines the accounts of the post office in San Salvador and Rum Cay.

The report reveals an examination of the monthly Bank of The Bahamas deposits and the total remittance balances found a difference of more than $101,000 as of October 31, 2021.

For the period this chart shows the difference in the total remittance and bank statements.

February 2020 saw a difference of $11,986.77; March, a difference of $12,437.43; April saw a difference of $3,287.79; August saw a difference of $9,360.31; February 2021, a difference of $5,168.90 and October 2021, a difference of $5,271.41. 

The Auditor General notes the difference could result in substantial long-term loss of funds and the potential for misappropriation due to ineffective internal controls.

He recommends the outstanding amount be investigated and the internal controls relating to deposits of funds be strengthened and bank reconciliations be performed to address variances.

The report continues, monthly remittances were requested but unofficial forms for 13 of the 22 months were received which only represents 60 percent of the records.

The forms were mainly used in Rum Cay and some documents were incomplete, missing stamps, dates, and other adequate information.

The Auditor General notes this could result in potential misappropriation of funds and collusion.

The report recommends that all remittances be recorded on official forms.

Additionally, the nine-page report also states that DMO day sheets for May 2020 and November 2020 for the San Salvador district were not examined because the documents were not received.

Additionally, DMO money order books for the corresponding months totaled $800 and could not be verified.

According to the report, this could result in a lack of an audit trail and the opportunity for misappropriation.