UG Vice-Chancellor (VC) Jacob Opadeyi says that the Government of Guyana (GOG) is currently examining mechanisms to address the university’s financial volatility that does not involve a hike in tuition fees although it remains an option.
Speaking on a range of issues affecting the University of Guyana, Opadeyi, who disclosed that it takes approximately $200 million to run the university monthly, reiterated his conviction that the primary issue plaguing the University Of Guyana (UG) was an inefficient funding mechanism.
On the government’s consideration of alternatives to a fee hike, Opadeyi said that he is not opposed to free tuition but said that in such an instance there must be money coming from elsewhere to supplement this provision.
As an example of the dire nature of UG’s financial state, the VC said that neither he nor the other administrators are aware of the exact amount of money in the university’s accounts. This, he said, was the primary motivator for the ongoing Special Audit.
Early last month, Prem Misir, UG Pro-Chancellor had explained that UG Bursar John Seeram and Chief Accountant Hazel Bentinck were sent on leave without prejudice to facilitate an independent audit, which was aimed at analyzing the institution’s financial deficit. Misir had said that UG’s precarious financial situation has existed for much too long and that it was time to address the issue.
Opadeyi on Monday said that when he took office earlier this year, he learned that such an audit had been suggested about six months before he was appointed VC. He further said that even after his appointment, despite his calls for such an audit, it took more than a month before the process got underway.
Opadeyi continuously stressed the importance of the audit, and added that UG’s administrators are not keen on placing any additional monies into the university’s accounts until the audit has been completed. “The accounts need to be specially audited and we do not want to put new money in without knowing the true state of the account. We need to know things like who we owe, and how much money we have to sustain operation on a long term basis,” Opadeyi said.
Though it has now cleared their debt with the Guyana Power and Light Inc. (GPL), the university recently owed the company around $15 million. Additionally, the GOG was forced to make a $50 million payment to the Neal and Massy security firm, after it threatened to withdraw security almost immediately if it was not paid.
Opadeyi said that the Special Audit is currently in the first of three phases. This current phase, he said, is intended to not only ascertain the university’s finances, but also to determine the competency level of the staff in charge of its finances. This phase is expected to be completed by September. He noted that the software being used by UG to conduct its business is at least 30 years old.
Opadeyi, who said that he prefers not to spend the majority of his time sorting out the university’s financial ailments, said that he did not perceive such gross hurdles at the time of his appointment. The VC said that he came to UG to take the university forward, but admitted that his progress is being held back by the institution’s recurring financial woes.
Meanwhile, Opadeyi says that the US$10 million World Bank-funded Science and Technology Support Project is moving apace.
“The project is moving fast and they are moving to have advertisements for expression of interests for work to be done. Calls for proposals will also be out by the end of this month. This project is the lifeline to much of what we have planned for the university so we are not playing around on this issue,” said the VC.
