The Auditor General is going to be keeping a closer eye on the Provincial Growth Fund:
Auditor-General John Ryan said Ministry of Business, Innovation and Employment (MBIE) officials had been told to improve the management of the fund after an initial review found the risk of some payments going astray.
“We carried out some preliminary work to review how [MBIE] was administering the fund,” he said, adding that the review resulted in recommendations to improve the management of payments from the fund.
“The fund also requires appropriations to be managed by multiple government departments and organisations, which increases the risk of unappropriated expenditure.” . .
The spending of any and all public funds ought to be given very close scrutiny.
The size of the PGF – $3 billion – makes it even more important to ensure that money doesn’t go astray, especially when there are so many questions about the rigour, or lack of it, applied to the hand-outs.