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{
    "id": 1414609,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1414609/?format=api",
    "text_counter": 348,
    "type": "speech",
    "speaker_name": "Migori County, Independent",
    "speaker_title": "Hon. Fatuma Mohammed",
    "speaker": null,
    "content": "While considering the Report of the Auditor-General on the financial statements of the Alcoholic Drinks Control Fund for the Financial Year 2017/2018, the Committee observed that the Fund invested in Treasury Bills as follows. On 22nd May 2017, the Fund invested in 91 days Treasury Bills with a face value of Ksh500 million which matured on 23rd August 2017. The second investment was done on 22nd January 2018 with a face value of Ksh200 million which matured on 23rd April 2018. The interest rate was 8.65 per cent. The Committee also observed that the funds from the investment of Treasury Bills totalling Ksh700 million were deposited in a bank account at the Co-operative Bank of Kenya, Ukulima Branch, Nairobi. Further, the accounting officer did not provide a break down or any documentary evidence for audit verification to support the expenditure of Ksh700 million received from the investment of Treasury Bills. He did not provide any documentary evidence indicating how Ksh700 million received from the investment of Treasury Bills and the interest earned was expended, considering that the licensing of alcohol outlets was undertaken by the counties as from 1st July 2018. The Committee recommends that within three months of the adoption of this Report, the Auditor-General will conduct a special audit of Ksh700 million received from the investment in Treasury Bills and the interest earned, and submit its findings to the National Assembly for further examination. Thank you, Hon. Temporary Speaker. I request Hon. Christine Ombaka, who is a committed Member of our Committee, to second the Motion."
}