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…resident ordered to pay back more than $1million Following an internal audit of the University of Guyana Student Society (UGSS), several financial discrepancies have been uncovered. Some could see implicated UGSS members being denied their academic certifications if the financial state of affairs is not remedied.A Final Report of the Audit, dated July 10, 2013, sent to the student society states, “The Students’ Welfare Division would be advised to withhold the transcripts and certificates of the relevant students if they do not supply the required information and/or documents before the end of their tenure (end of academic year 2012/2013).”The suspended UGSS President, Ganesh MahipaulThe audit was undertaken by the University’s Internal Audit Department and highlighted not only financial infractions on the part of elected President of the UGSS, Ganesh Mahipaul,Wholesale Authentic Jerseys, but other members as well.Mahipaul, according to the report, had repaid a sum amounting to in excess of $1 million.The Report outlines that the UGSS at its Executive Council meeting of April 27, 2013 had identified the amount of $1,095,000 as monies misappropriated by Mahipaul.An agreement was signed on May 14, 2013,Cheap Jerseys Online, between the UGSS Secretary, Adel Lily, and Mahipaul,Cheap Adidas NHL Jerseys, indicating that the entire sum must be repaid by May 31, 2013. The inked agreement was witnessed by Assistant Registrar,Cheap NFL Authentic Jerseys, Daniella King, and UG Internal Auditor, Quincy Bourne.It was outlined that on May 30, 2013, Mahipaul presented the Audit Department with a printout of the UGSS’ Republic Bank Limited bank account showing a deposit of the owed amount. A telephone call to the bank on June 11, 2013,NFL Jerseys Store, confirmed that the said amount was deposited from the Anna Regina branch.However, according to the Audit Report, the contract of May 14, 2013, also provided for the repayment of additional sums which were determined by the audit process. As such it was observed that Mahipaul is required to pay an additional $125,720 and perhaps a further 265,000 depending on the submission of receipts and return of computer equipment.Mahipaul had reportedly removed the equipment and is therefore required to return same “in no less favourable state as when removed from the UGSS office,” states the Report.In light of the discovery that Mahipaul has “grossly misconducted” himself as a member of the student society and as president, the UGSS Executive Council in a correspondence dated June 24, 2013, revealed that a No Confidence Motion was moved against him.The missive, which was seen by this publication, states, “In accordance with the constitutional provision of Article 20:ix, the Executive Council has passed a resolution via a unanimous vote of no confidence against you from further performing duties as president of UGSS by suspending you for the remaining part of the second semester of the academic year 2012/2013.”But Mahipaul is not the only UGSS member who has been implicated in the troubling financial affair.The report names the Secretary, Adel Lily, and Treasurer as the other financially culpable member. The three together are responsible for a total of $197,790, with Lily being solely liable for $97,790 of that amount.It was pointed out that the amount is seen as outstanding since they represent payments that require further information and/or documents in order to properly classify them.The Report also drew reference to a number of other financial activities including “failed fundraisers” which were not properly accounted for.Alluding to the UGSS’ compliance, or rather the lack thereof, with its Constitution, the Report states that it was brought to the attention of the Audit Department that while a budget was submitted to the University’s Board of Governors or Finance and General Purpose (F&GP) Committee, it was not clear from the UGSS minutes whether the budget was approved by its Executive Council.Further,Cheap Jerseys Free Shipping, it was highlighted that since the Audit Department is not in possession of such a budget it was unclear whether an approved budget was submitted to the F&GP committee in accordance with Section 38(i)–(iv) of the UGSS Constitution.“Given the uncertainty of the submission of an approved budget and the non-receipt of a copy by this office (Audit Department), it could not be determined whether actual expenses incurred, inter alia, were in accordance with the budget as prescribed by Section 38(v),” states the Report.Moreover, it was pointed out that preparation and adherence to the approved budget is a critical financial management tool which the UGSS must strive to properly utilise.The Audit examination spans the period October 2012 through April 2013. A point of emphasis in the Report is that the remaining or outstanding matters need to be addressed urgently by the relevant students.It was emphasised, too, that the resolution or results of these matters will be fully addressed during the final audit after the end of the current academic year.