A total of $18.7 million was utilized for the restoration of the Brickdam Independence Arch and the Inauguration of President David Granger.

This is according to an Audit Report released by the Ministry of the Presidency on Friday which revealed the sources and application of the funds.

The opposition People’s Progressive Party has been pressing the government to make the disclosure and even raised the issue several times in the National Assembly.

The Audit which was conducted by Nigel Hinds Financial Services for the period May 20 to June 5, 2015 revealed that the sources of the funds were from three donations which amounted to $19.2 million.

The report failed to identify those donors. However, the report noted that of the $19.2 million, $665,000 was used for advertising, $8.4 million was utilized for meals and entertainment, $4.6 million for cleaning and sanitization, $288,500 for contractor fees, $660,000 for professional fees and $4 million for rental expensive.

There was a surplus of $467, 671.

On May 16, Mr Granger was sworn in as the new President of Guyana. A Partnership for National Unity (APNU), on May 17 commenced a massive cleanup campaign to the main drainage area and irrigation sections of Georgetown.

The Independence Arch on Brickdam was included in the refurbishment plan which was spearheaded by BK International, Stanley Ming and other contractors during the period May 20 to June 5.

The audit specified that this was done by sources of income received from corporate groups and private citizens.

Some $12.1 million was received from corporate citizens while $7.1 million was received from others.

It was noted that the accrual method of accounting was used to account for income and expenditure in the financial statements. Nigel Hinds Financial Services said in accordance with instructions, it was not required to nor did it carry out any inquiry or other test of the information in order to express an audit opinion.

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