The Controller- Generals Department, on Wednesday revealed that a deficit of revenue over expenditure of 4,066.5 billion cedis was recorded in 2006, while a surplus of 5,167.1 billion cedis captured in the Consolidated Fund for 2005.
Mr Raphael Tuffuor, Acting Controller General, said total revenue for 2006 was 30,841.9 billion cedis while the corresponding expenditure amounted to 34,908.5 billion cedis resulting in the deficit of 4,066.5 billion cedis for the year.
Therefore the total revenue figure fell below the budgeted 31,470.7 billion cedis by 626.8 billion cedis or 2.0 per cent.
Mr Tuffuor made this known when he appeared before the Public Account Committee of Parliament.
The four-day sitting of the committee would examine seven reports that the Auditor- General has submitted to parliament.
Mr Tuffuor noted that the total expenditure of 34,908.5 billion cedis also fell below the budgeted figure of 37,421.9 billion by 2,513.5 billion cedis or 6.7 per cent indicating that
planned activities of Ministries, Departments and Agencies were under funded.
He explained that the decline in financial performance in 2006 was in part due to a fall in revenue generation.
The reports include; the audit of the Accounts of Ghana (Consolidated Fund) for the years ending December 31; 2006, 2007 and 2008, report on the performance audit of the
Information Technology System of the Ministry of Foreign Affairs.
Other reports comprise performance audit on the implementation of infrastructure projects in Public educational institutions financed by Ghana Education Trust Fund and report on the performance Audit on the Management of Wetlands (Ramser Sites) in Ghana.
Mr Albert Kan Dapaah, Chairman of the Committee said the committee hopes to complete its preparatory audit of the National Vocational Training Institute for 1997 to 2002 this
week, after which there would be hearing next week.
He said this was the first time the committee would examine the Audit report on the consolidated accounts of Ghana.
Mr Kwaku Agyeman-Manu, Member of Parliament for Dormaa West said the report had a lot of errors and questioned if the Controller and Accountant Generals Department could not
put in a little effort to clear them.
Mr Tuffour explained that there were errors in the preparation of the accounts since 1979 to 1989 and that the current situation was a reflection of the past.
He said although the situation improved in 2008, his outfit was working closely with the Ministry of Finance and Economic Planning towards an integrated system that would ease the problem.
Mr Appiah Pinkrah Kwabena, Member for Akrofuom said the money that accrued from the sale of some public companies since 1990 had not been accounted for.
Mr Tufuor replied that there are legal disputes surrounding the sale hence the inability by the State to collect any money.