Chairman Mark noted that for several years, a number of loans have
been appearing on the company’s accounts.
“These loans are not to assist VMCOTT,” he said, questioning
how the monies were keeping within the company’s mandate as
established by the Cabinet.
A large portion of the monies was loaned to the Ministry of National
Security:
* $9.28 million, was to purchase “special hardware and software”.
* US $12 million, was to purchase equipment “for the agencies
and/or the Ministry of National Security”.
Mark also questioned the VMCOTT delegation about what was the status
of some 100 Vauxhall Astras that were purchased for the Police Service.
He then asked why nearly five million dollars had been tabulated
as “depreciation”, while there was no listing of the
assets that were depreciating.
Another chunk of cash -- $13,100,000 was then placed under the microscope.
Mark told those present that the sum had been assigned to Capital
Expenditure, but was instead channelled through Recurrent Expenditure,
apparently without Cabinet approval.
He then asked that “all relevant documents in relation to
specifications and invoices be provided to the Public Accounts (Enterprises)
Committee” by the next sitting.
The only response from the VMCOTT benches came when Chairman Mark
asked for them to “make available the approvals -- whether
by the Board, the Ministry of Works and Transport, or by the Cabinet
-- for VMCOTT’s new strategic direction.
“That is, with regard to fleet maintenance and fleet management
services,” he said.
It was then that VMCOTT’s Acting CEO, Joel Brown, replied
that the strategic plan had been in development by 2003.
The Committee next meets on Thursday, August 10, 2006.
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