Osun State government yesterday presented the audited financial accounts of the state for the 2020 fiscal year, revealing that the state Internally Generated Revenue moved from N17,720,122,360.44 in 2019 to N19,642,333,010.68 in 2020.
It would be recalled that the 2019 audited account was presented earlier this year due to the adverse effects of the protracted Coronavirus pandemic that has been ravaging the universe.
The summary of the Audited Financial Statements as presented by the Auditor-General of the State, Mr. Folorunso Adesina puts the total revenue (inflows) at N99,048,740,967.00 and total recurrent and capital expenditure (outflows) at N86,470,726,806.86 respectively.
The Net Balance on total revenue and total expenditure was N12,578,014,160.14 and opening balance as at January 1st, 2020 was N10,356,616,311.14 while the total closing balance as at December 31st, 2020 was N22,934,627,471.28 respectively.
Analysis of Recurrent Expenditure indicates that Personnel Expenditure has N28,748,672,359.37 and Recurrent Expenditure has N17,928,291,392.63.
Also, analysis of Capital Expenditure indicates that Administrative Sector has N5,392,638,753.82; Economic has N27,896,438,968.24; Law and Justice has N58,309,514.17 and Social has N6,416,375,818.63 respectively.
Adesina said the presentation of the 2020 fiscal account would make Osun to consolidate on its status among the comity of states in the country and further build public trust and confidence in governance.
According to him, the economic and social sector took about 86.22 per cent of the Total Capital Expenditure which was responsible for the government’s ability to build, rehabilitate, revitalise and deliver for public use over 300 Primary Healthcare Centres as at the time of the report.