The Ministry of Agriculture has reported a budget underspend of $4.6 million for the 2023 fiscal year, as detailed in the Auditor-General’s report. Initially allocated $54.8 million, the ministry utilized only $50.2 million. The report attributes much of this surplus to unfilled payroll positions, which accounted for $1.5 million, as well as delays in capital projects.
Additionally, the Trading and Manufacturing Account, which manages state-run livestock and agricultural services, faced a loss of $47,168, attributed to a significant 37% drop in sales. In contrast, the Ministry of Sugar nearly fully expended its budget with only $134,000 remaining unspent from a revised allocation of $45.3 million. The Auditor-General noted that the Ministry of Sugar was effective in its financial reporting, requiring no audit adjustments.
Subsequently, revenue generation across the ministries remained low, with only $8,948 collected in revenue for the year. This highlights the ongoing challenges faced by the agricultural sector and the need for targeted interventions to enhance revenue collection and expenditure effectiveness.
The government has emphasized the importance of transparency and accountability in financial reporting, as seen in previous reports that revealed substantial unspent funds among various ministries. For instance, a report disclosed that $246 million from the 2023-2024 budget remained unspent, emphasizing a critical evaluation of budget utilization across government departments.
As the government looks to improve fiscal management, these findings serve as a reminder of the essential role that proper budgeting and timely use of allocated funds play in ensuring the welfare of citizens. The focus moving forward will likely be on enhancing operational efficiency within ministries and capital projects to better serve the public and stabilize agricultural sectors.
The uptake of necessary reforms and transparent budget practices will foster improved accountability in public spending, paving the way for more effective resource allocation and positive outcomes for agricultural stakeholders.
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