Govt subsidy saves Nampa from loss
The Office of the Auditor-General (AG) has expressed its misgivings regarding the state of the Namibia Press Agency’s (Nampa) finances.
The news agency, which received a qualified report for the 2021/2022 financial year, was able to turn a profit of N$609 626 - notably thanks to a N$16 million subsidy received from government.
Nampa received N$16 million from the state for 2022, down N$5 million from the N$21 million it received in 2021.
It was able to add to its revenue through rental income (N$3.2 million) and subscription income (N$1.7 million) it was able to generate.
The agency’s wage bill and subscription to other news agencies amounted to N$8.1 million, giving it a gross revenue loss of N$3.2 million.
Nampa’s administrative expenses totalled N$13.8 million, driven largely by depreciation (N$866 000), utilities (N$676 000), casual pay to its non-permanent staff (N$563 000) and debt owed to it that was written off (N$247 000).
No details
The AG further found that Nampa has not been able to track the outcomes of its strategic plan.
These findings are contained in an audit report for the news agency for the financial year 2021/2022.
Nampa was not able to track the performance of its strategic plan, nor did it give details on how it intended to achieve its strategic goals, it said.
“The audit noted that there was no performance review of the strategic plan in place and that the planned activities did not give details as to how the objectives of the agency will be met,” it said of Nampa’s financials.
Another area of concern was the inability of the press agency to track the performance of its staff members.
“The key performance indicator sampled was number of stories and documentaries written. The planned activities under this objective did not give details as to how the performance indicators will be met, and there was no evidence provided for the output achieved."
The AG also took issue with how the press agency recorded funding it received from government, and how this was reflected in its financial statement.
“The contributions are made by government while acting in its capacity as shareholder of the entity. Consequently, the auditors could not obtain sufficient appropriate audit evidence with regards to the presentation and disclosure of shareholder funding and related funding,” the report read.
The news agency, which received a qualified report for the 2021/2022 financial year, was able to turn a profit of N$609 626 - notably thanks to a N$16 million subsidy received from government.
Nampa received N$16 million from the state for 2022, down N$5 million from the N$21 million it received in 2021.
It was able to add to its revenue through rental income (N$3.2 million) and subscription income (N$1.7 million) it was able to generate.
The agency’s wage bill and subscription to other news agencies amounted to N$8.1 million, giving it a gross revenue loss of N$3.2 million.
Nampa’s administrative expenses totalled N$13.8 million, driven largely by depreciation (N$866 000), utilities (N$676 000), casual pay to its non-permanent staff (N$563 000) and debt owed to it that was written off (N$247 000).
No details
The AG further found that Nampa has not been able to track the outcomes of its strategic plan.
These findings are contained in an audit report for the news agency for the financial year 2021/2022.
Nampa was not able to track the performance of its strategic plan, nor did it give details on how it intended to achieve its strategic goals, it said.
“The audit noted that there was no performance review of the strategic plan in place and that the planned activities did not give details as to how the objectives of the agency will be met,” it said of Nampa’s financials.
Another area of concern was the inability of the press agency to track the performance of its staff members.
“The key performance indicator sampled was number of stories and documentaries written. The planned activities under this objective did not give details as to how the performance indicators will be met, and there was no evidence provided for the output achieved."
The AG also took issue with how the press agency recorded funding it received from government, and how this was reflected in its financial statement.
“The contributions are made by government while acting in its capacity as shareholder of the entity. Consequently, the auditors could not obtain sufficient appropriate audit evidence with regards to the presentation and disclosure of shareholder funding and related funding,” the report read.
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