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Osun, World Bank, EU hold talks on transparency, accountability



The Office of the Auditor- General in Osun State in collaboration with the European Union, World Bank Assisted State and the Local Governance Reform (SLOGOR) Project organised its annual Audit Forum with determination to demonstrate the State Government’s commitment towards improving transparency. While presenting the 2017 /2018 state audited accounts at the programme held at Aurora Events Centre, Osogbo, the Osun State capital yesterday, the state Auditor -General, Alhaji Folorunso Adesina said “the objective of this forum is to demonstrate the State Government commitmenttowards improving transparency, accountability and probity in the management of public funds in line with the requirements of global best practices.”

He appreciated the tremendous support his office had enjoyed from the State through SLOGOR World Bank/EU assisted project especially in the area of training and retraining of Auditors in the state and the enabling environment being provided for the Auditor -General office to discharge its constitutional responsibility. Adesina further informed the gathering that the accounts of the state were prepared in line with accrual basis of International Public SectorAccounting Standards (IPSASs) as audited accounts had shown that during the years under review, the combined revenue grew from N93, 085,090, 457.98 in 2017 to N99, 307, 720, 655.30 in 2018, representing an increase of 6.26%, while the Federal Allocation (Statutory and VAT allocation) rose from N36,035,591,845.68 in 2017 to N50,122,335,788.23 in 2018. He said: “It is a significant advancement towards the Government’s ultimate target of being able to shift dependence from Federal Allocation to Internally Generated Revenue (IGR).

“The total expenditures ( both recurrent and capital) was N89,249,123,365.13 in 2017 and N105,662,115,288.46 in 2018, thus leaving a net balance of N3,835,967,092.85 and N6,354,394,633.16 for 2017 and 2018 respectively. “The opening cash balance, including call account stands at N13,725,529,812.61 and N17,561,496,905.46 for year 2017 and 2018 respectively, while closing balance amounted to N17,561,496,905.46 in 2017 and N11,207,102,272.30 in 2018 after charging the net balance for the respective years to the corresponding opening balances.”

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