NSS’ expenditure jumped to GH¢612m for 2019 – A-G

The auditor-general’s report for 2020, which contains audited financial statements of the National Service Scheme for the two years ended 31 December 2019, said the Scheme’s operations for the year ended with a deficit of GH¢780,461.00 as compared with a surplus of GH¢36,561,083 recorded in 2018 representing a significant fall of 102.1% in performance.

Total income of the Scheme increased by 7.5% from GH¢569,817,715 in 2018 to GH¢612,273,042 in 2019.

The rise was due to 14.2% and 7.2% increases in the internally-generated fund and government subvention, respectively.

Total expenditure increased by 15% from GH¢533,256,633 in 2018 to GH¢613,053,503 in 2019.

The increase in total expenditure was mainly due to a 39.4% increase in expenditure on goods and services.

The Non-Current Assets of the Scheme increased from GH¢16,573,248 in 2018 to GH¢17,045,160 in 2019, an increase of GH¢471,912 or 2.8%.

The increment was as a result of additions to the non-current asset during the year.

Current Assets also saw a significant growth of GH¢47,228,499 from GH¢68,375,330 in 2018 to GH¢115,603,829 in 2019 representing 69.1%.

The rise was as a result of GH¢48,916.00 NSS allowance receivables not received from the government by 31 December 2019.

Current Liabilities also went up by 100% from Nil in 2018 to GH¢48,480,871 in 2019.

This was due to unpaid NSS allowance for the month of December 2019.

Current Ratio measuring the liquidity position for 2019 showed a healthy position of 2.4:1 as compared to 100: 1 in 2018.

This means the Scheme can meet its short-term obligations as and when they fall due.

Source: Classfmonline.com

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