By Deborah Oladejo, Osogbo
Osun State Government on Wednesday presented the 2019 audited accounts as part of efforts to showcase prudence in the management of public resources and strengthen public trust and confidence in governance.
The State Auditor-General, Mr. Folorunso Adesina while reeling out the audited reports of the finances of the State for the year 2019 in Osogbo, noted that the presentation of the 2019 Audited Account in 2021 was as a result of the Coronavirus pandemic that broke out last year March.
He said the Audited Accounts ought to have been presented in 2020.
Adesina described the Administration of Governor Adegboyega Oyetola as most transparent, saying it is committed to accountability, openness and probity in the management of State resources and finances.
He said Osun under Oyetola’s government’s Public Finance Management (PFM) Reform has got a big boost by becoming one of the pioneer States to assent to and implement Audit Act in Nigeria, a feet the Federal Government is still to attain.
While presenting the audited account report for the said year, Adesina said he had examined the accounts and the financial statements of the State Government for the Year ended 31st December 2019 in compliance with the provisions of Section 125(2) of the Constitution of Federal Republic of Nigeria as amended.
According to him, the audit was conducted in accordance with International Standards on Auditing as applicable to the public sector and the provisions of Section 125(5) of the same Constitution.
He noted that the consolidated financial summary for year 2019 has the Total Revenue of N101, 177, 021, 193.03; Total Recurrent Expenditure of N71, 932, 187, 306.95 and Total Capital Expenditure of N30, 095, 322, 847.24 respectively.
Adesina further reported that Total Expenditure was put at N102, 027, 510, 154. 19; Net Cash Balance was put at N850, 488, 961. 16; Opening Cash Balance, including call account was put at N11, 207, 102, 272. 30 and Closing Cash Balance was put at N10, 356, 311. 14 respectively.
He said, “The Financial Statements are hereby certified to be free from material misstatements subject to comments and observations contained in the Management’s report.
“In my opinion, projects and programmes executed were satisfactory in consideration of fund employed and the Financial Statements (1-4) and related schedules give a true and fair view of the state of affairs of the State Government of Osun as at 31st December, 2019,” Adesina added.
Earlier, the Speaker, Osun House of Assembly, Hon. Timothy Owoeye who was represented by the Chairman House Committee on Public Accounts, Hon. Gbenga Ogunkanmi, acknowledged the financial prowess of Governor Oyetola which had culminated in winning of accolades in the management of public treasury.
Also, the Commissioner of Finance, Mr. Bola Oyebamiji, said the Oyetola Administration had demonstrated the required capacity in the management of the State resources as part of efforts to ensure good governance.
The Project Coordinator, State and Local Governance Reform Project, Mr. Yemi Ijidele, commended the Administration of Governor Oyetola for being honest, transparent and accountable to the public as manifested in the prudence management of the public treasury.
The Forum was put together by the Office of the Auditor-General in collaboration with EU/World Bank Assisted and Local Governance Reform (SLOGOR) Project.