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WHEN DOES OUR YEAR END - HEAD TEACHERS

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MANZINI – Irked members of the Swaziland Principals Association (SWAPA) demanded answers from the National Executive Committee (NEC) after discrepancies were spotted in a financial report presented to members.

This transpired yesterday at Prince Mfanyana Hall head teachers had met for their annual general meeting.NEC Treasurer Nkosinathi Ginindza first presented the financial report of 2015, which was accepted but when it came to the 2016 report, the head teachers were not so welcoming.
According to the head teachers, there is money that is not accounted for in the financial report of 2016 and it reflects very high expenditure compared to that of the previous year.
Head teacher of Ka-Boyce High School, Lungelo Nhlengetfwa, was first to raise his concern after the 2016 report had been presented.

Clarity


“I am worried about the inconsistency in the financial report of 2016; I think I would need clarity on when the organisation’s financial year starts and when it ends because it is not clear in the documents in which we were given.”
He said on scrutinising the financial report, to him it was clear that there is money that disappeared or had not been accounted for and requested from the chairperson that the NEC clarify on what really happened.
On the financial reports, the one for 2015 reflects that the financial year ended on December 31, 2015 and the bank balance was E262 964.87.


On the other hand, the financial statement for the next financial year reflected that it came to an end on November 9, 2016.
This alleged discrepancy drew interest from other head teachers who also sought clarity on the date at which their financial year comes to an end.


Nhlengetfwa said it meant that the money, which is E1 561.62, disappeared overnight because on January 1, 2016 this sum did not reflect in the closing bank balance of the previous year, which was December, 31, 2017.
Organising Secretary of the NEC, Zanele Dlamini, tried to justify the inconsistency as she highlighted that there is a month which the schools are closed and therefore very little funds of the organisation are used during that period and it could be possible that such an incident could be a result of the funds not balancing.


Highlighted


A member of the organisation also highlighted that it was possible that the money not accounted for was deducted for bank charges.
SWAPA Vice President Welcome Mhlanga admitted there were inconsistencies in the presented financial statement.
He said the Treasury Department would be called to explain what happened and said it must give clear answers on the matter on how the funds were utilised.


Big Bend High School Head Mistress Lindiwe Zwane suggested that the media should be sensitive when reporting about the organization’s financial reports because it was a delicate matter.

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