Auditor General Edward Ouko has revealed that Maasai Mara University is running on a deficit of Ksh101,322,923.
In the latest audit report, the University has liabilities worth Ksh306 million against assets worth Ksh205 million.
In 2016, Maasai Mara made a loss of Ksh7 million while in 2015 the institution lost Ksh6 million.
The audit further reveals that the students fees collection only accounted for 61 per cent of the revenue, with more than Ksh109 million out of the total receipts being reported as uncredited in the cash book instead of being allocated to student accounts.
The student registration records showed that the university has 9,339 students, while a schedule of billings in tuition income indicated that there were 8,887 students. This means that the tuition fees for more than 452 students was ending up in private accounts.
Further, 494 inactive students were invoiced Ksh16 million but were not backed up with receipts.
Doubtful debts not backed up by receipts, amounted to over Ksh16 million.
The audit further reveals that the institution received Ksh72 million from Helb, but only Ksh60 million reflected in the books of accounts. Ksh12 million from Helb was not accounted for.
Ksh55 million was received from bursaries, with Ksh51 million having been applied for. Ksh4 million that was not applied for was classified as funds from creditors.
Vice Chancellor Professor Mary Walingo has been on the spot since 2016, being accused of mismanagement that could run down the institution.
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