A committee that will see to the full compliance with the Treasury Single Account(TSA) by all state owned tertiary institutions in Osun wa...
A committee that will see to the full compliance with the Treasury Single Account(TSA) by all state owned tertiary institutions in Osun was on Wednesday set up by the state government.
The committee which has bursars of all state owned tertiary institutions as members is chaired by the Supervisor for Finance, Mr Bola Oyebamiji and has the Permanent Secretary, Ministry of Finance, Mrs Adebimpe Ogunlumade and the Board Secretary, Osun Internal Revenue Service(OIRS), Mrs Oluwatosin Falomo as members.
Other members include: the state Accountant General, Mr Sunday Igbaroola, Technical Assistant to the governor on TSA, Mr Adetona Adefokun, the Senior Special Assistant on Finance, Dr Wale Tijani among others.
Speaking shortly after the constitution of the committee at a meeting with the bursars, the Supervisor for finance, Mr Bola Oyebamiji said all government owned tertiary institutions are expected to fully comply with the rules and regulations guiding the use of the Treasury Single Account(TSA).
This, according to the immediate past Commissioner for Finance who was represented at the meeting by the Permanent Secretary, Mrs Adebimpe Ogunlumade will help the state government have accurate records of all revenues generated by the state.
He explained that the reason for the move is not to witch-hunt anyone or for government to interfere in the spending of funds meant for the institutions but for accountability purpose.
The supervisor said it will go a long way in helping to sanitize the system and boost government's efforts in trying to adhere with international best practices in public fund management.
Oyebamiji stated that it is important that government knows whatever it is that the tertiary institutions are making, stressing that the institutions still belongs to the state, hence the need for accountability at all times.
In his own remarks, the Technical Assistant to the Governor on TSA, Mr Adetona Adefokun said it is important to take inventory of all accounts and close all below the line accounts after balances have been identified.
While urging the institutions to identify a lead bank where all revenue account will be transferred, Adefokun stressed that a monthly revenue report must henceforth be made to make the job of the Osun Internal Revenue Service(OIRS) easy.
Also speaking, Senior Special Assistant to the governor on Finance, Dr Wale Tijani while urging the state owned tertiary institutions to fully comply with TSA said a failure to do so will make the state loos millions of dollars yearly.
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