Bank of Culture: About 88% of payments financed projects with no specific budget – Audit

Praia, May 4 (Inforpress) – About 88 percent (%) of the payments made by the Bank of Culture went to the expenses and financing of projects without specific budget allocation, according to the report of the financial audit carried out by the Ministry of Finance.

In accordance to the document made public by the Ministry of Finance, the internal control system in the Autonomous Support Fund for Culture (FAAC) is “deficient”, considering that there are inefficiencies in complying with the legal framework of autonomous funds of its statutes.

Despite having administrative and financial autonomy, according to the report, in the management of the Bank of Culture there were some “interferences” on the part of the Ministry of Culture, in the person of the then Minister of Culture and the director-general of Planning, Budget and (DGPOG), and a non-executive bank administrator too, calling into question the “principle of segregation of function and transparency”.

The audit found that about 88% of the payments made by the Bank of Culture went to the expenses and funding projects “without specific budget”, such as Atlantic Music Expo (AME), Orchestra, National Ballet, Fonartes and other Cultural activities, approved directly by the Minister of Culture and subsequently sent to the FAAC for payment, putting “its administrative and financial autonomy at risk.



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