P2 Million Unaccounted For At Sankoyo Trust

Date:

  • Task team appointed to probe and trace the unaccounted funds
  • Board of Trustees fires accountant
  • Board chairman says the funds were used on the Trust’s projects
  • He admits there are no receipts to prove the transactions

A probe has been instituted into Sankoyo Tshwaragano Management Trust’s over P2 million that remains unaccounted for. A five-member task team has been established to do the probe and trace the funds which remained unaccounted for in the past 6 months of the 2023-2024 financial year, this publication has learnt.

The lead up to this is said to have started in January this year when the STMT board of trustees convened a Kgotla meeting to share with the community the quarterly reports of the Trust and its company, Kaziikini Safaris. Following a review, the community reportedly did not approve the reports and rendered them inadequate owing to some financial errors.

It was then agreed for the meeting to be postponed to end of January to allow the board to present the reports afresh. However, when the board returned, it is alleged that the same reports in question were left out, but instead presented a budget which the community refused to approve – pending the financial reports.

The board had indicated that the financial statements had been handed to an independent firm for auditing, the results of which were presented to the community last month. It was this audit that was the bearer of shocking news – that over P2 million was unaccounted for by the authorities of the Trust.

The heat brought about this resulted in the dismissal of the accountant who according to a source was blamed for the financial errors including missing financial files and invoices.

A move by some concerned residents to pass a motion of no confidence on the board on that day failed as 27 members voted against, while only 19 were for it. The 27 argued that they cannot disqualify the board before it accounts for the missing money. “If you disqualify them, we won’t have answers so let them stay in the office and investigations, be done to determine the way forward,” they are said to have argued.

Subsequently, the community appointed a task force of five people to investigate how the unaccounted funds was used and they are expected to present their findings in three months’ time.

“We need to set the precedence because previously similar things happened and no action was taken but today we will engage the law so that those guilty can be brought to book,” a concerned resident said in an interview.

While some say this proves mismanagement of trust’s funds others suspect fraudulent act within the office arguing that the missing financial files and invoices was a deliberate move by those involved to hide evidence.

Reached for comment, STMT board chairman Kenosi Mbwe argued that the said unaccounted money was used on Trust’s projects which include wiring houses of community members, paying elders’ pension, procuring a new vehicle and paying board members’ seating allowances. Mbwe said unfortunately there were no receipts to prove the transactions for the projects. Mbwe further confirmed the dismissal of the accountant, and according to him, the officer was fired on the basis of carelessness as a person responsible for the accounts department.

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