By Zweli Martin Dlamini

MBABANE:”The financial challenges within the University of Eswatini(UNESWA) has been caused by, among others, Government’s consistent delays in releasing budgeted monies to fund the institution of higher learning while Management misappropriates the limited resources”, a preliminary investigation report leaked to this Swaziland News by Cabinet sources reveals.

The preliminary report comes after Owen Nxumalo, the Minister of Education and Training appointed a Task Team led by Ubombo Sugar Limited Managing Director Muzi Siyaya and, tasked with investigating the financial challenges within the collapsing institution of higher learning.

But the Education Minister has been reluctant or delaying to release the report that was presented to him about two(2) months ago, Cabinet insiders told this publication that,he was not happy with the contents of the report that attributed part of the UNESWA challenges to Government.

Amid the Education Minister’s reluctance, the report was eventually leaked to this Swaziland News by senior Cabinet sources, this journalist had earlier warned that if the “Education Minister delays, this publication” will release the report.

“The University suffers from poor financial management of the limited resources that it has at its disposal.A budgeting and spending poor practice is demonstrated by the following: Budget requests is submitted to the Government and in most cases the University doesn’t get the requested budget. Yet, it seems the spending continues to be aligned to the requested budget as opposed to the available resources, which then results in the huge deficit year after year,” the report states in part.

The Task Team further noted that, another “aspect of poor financial practice is the concept of a centralised account to which funds from diverse revenue streams” are managed.

“This has created a practice of diverting funds to uses that they were not meant for, e.g. donor funds for infrastructure gets diverted to pay for other expenses jeopardising the course for which the funds were received. This practice creates a negative image to external donors and industry,”’reads the report in part.

Government Spokesperson Alpheous Nxumalo declined to comment about the leaked preliminary report.

On another note, the Task Team has found that, the personnel costs within the University consume over 90% of the University’s total budget, leaving less than 10% for operational needs.

“This far exceeds the global benchmark of 65% for higher education institutions,” the report states in part.