Latest update April 19th, 2024 12:59 AM
Dec 12, 2015 News
The restoration of the Brickdam Independence Arch cost $18.7M. Corporate citizens contributed $12.1M and the remainder came from “others”.
According to an Independent Accountant’s Review Report prepared by Nigel Hinds Financial Services, and dated July 5, 2015, the activities, inclusive of the restoration and inauguration, included the period between May 20 and June 5, last.
The report said that donations amounted to $19.2M but only $18.7M was used.
Some $665,000 was spent on advertising; $8.4M on meals and entertainment; $4.65M on cleaning and sanitation; $288,500 on contractor fees; $660,000 on professional fees and $4M on rental.
The arch was a gift to the people of Guyana from the Demerara Bauxite Company (DEMBA) commemorating Guyana’s Independence from Great Britain on May 26, 1966. The structure consists of three tubes made of aluminum from Guyana’s bauxite mounted on a quartz base.
It was designed by a Canadian engineer, Edric Klak.
The report explained that on May 16, 2015, David Granger was sworn in as the new President of the Co-operative Republic of Guyana, following early general elections.
The next day, A Partnership for National Unity (APNU), which forms part of the coalition Government, started a massive cleanup to the main drainage and irrigation sections of Georgetown.
The arch on Brickdam was part of the refurbishment plan which was spearheaded by BK International, businessman Stanley Ming and other contractors during the period May 20 to June 5.
According to the report on the spending, all info included in the sources and application of funds statement, represents documentation and information provided by the Brickdam Independence Arch Restoration and Inauguration Committee representative.
“In accordance with our instructions, we were not required to, nor did we carry out any enquiry or other test of the information in order to express an audit opinion. Based on our review, we are unaware of any material modifications that should be made to the accompanying financial statement, in order for them to be in conformity with generally accepted accounting principles.”
The new administration has been under pressure to come clean on its spendings on the city cleanup, which is being done for next year’s grand 50th Independence Anniversary celebrations.
There have been positive comments about the improvements which have seen a cleanup of the Stabroek Market area and Merriman Mall, among other places.
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