News

Ministry’s revenue fails to offset trading loss

March 11, 2025 5:43 am

The Ministry of Agriculture spent $50.2 million of its $54.8 million budget in 2023.

This left $4.6 million unspent, according to the Auditor-General’s report.

A large portion of the unspent funds $1.5 million was tied to payroll. This was due to delays in filling vacancies, largely caused by high staff turnover.

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Another $1.5 million remained unspent in capital construction. The Ministry faced challenges with supply chain issues that affected the availability of raw materials.

Revenue collection for the year reached $431,120.

However, the Ministry’s trading and Manufacturing Account, which supports livestock and crop extension services, reported a $47,168 loss.

This was a significant drop from the $56,089 profit it made in 2022.

The audit found no major misstatements in the financial statements, delivering an unmodified opinion.

Still, it pointed out ongoing difficulties with budget allocation and program implementation.

 

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