Missing millions located

The over $6 million that had previously been unaccounted for at one of the Barbados Revenue Authority’s (BRA) collection points has been located.

According to Director of Finance and Economic Affairs Ian Carrington, the money was simply at a different collection point.

He was responding to a concern raised in the Auditor General Report 2021, where it was revealed that there was a $6.62 million difference between what the cashier’s report for one BRA collection point stated and what the Central Bank indicated was collected.

In that report, it stated that the cashier’s report of September 22, 2020, for the Treasury Office in Bridge Street Mall in Bridgetown, cheques totalling $10.19 million were recorded. However, there was a massive $6.62 million difference between that report and the $3,536,006.77 that the Central Bank listed as the amount received.

It led to Auditor General Leigh Trotman calling for swift action, as he lamented that “no explanation was presented for this significant difference which should be investigated as a matter of urgency”.

But in its 64-page response to the report, Government said the money had been accounted for.

“The transaction referred to was entered at the Oistins location and not at the Bridge Street Mall location. The amount under review of $6.7M can therefore be found in the Oistins Cashiers’ Report which reconciled to the Oistins Central Bank Cheque listing dated September 21, 2020 and not September 22, 2020. Therefore, there is no unreconciled difference in this regard and all cheques were accounted for, and all funds deposited.

“The consolidated information from the Cashiers’ Reports and the combined Central Bank Cheque listings across all locations reveal that all balances for the dates noted, reconciled and no discrepancies were found,” it said in its response.

The Auditor General also raised concerns regarding a lack of cash inspections.

However, Carrington pointed out that the COVID-19 pandemic had restricted physical interactions.

He said cash inspections had restarted following the country’s full re-opening.

“Restricted movement across locations as a result of COVID impacted this activity as physical interaction was limited. This activity recommenced at March 2022 with the lifting of COVID restrictions and the return of staff to the office. Subsequent cash inspections were completed on March 18 and 19, 2022,” he noted. (RB)