Auditor General's Findings
The audit did not limit its research to the Outameni property but comprehensively investigated the level of due diligence undertaken by NHT, prior to investments and land acquisitions.
- In December 2012, the NHT Board approved the purchase of a loan of $180 million from a Merchant Bank in exchange for the Outameni Experience property owned by Orange Valley Holdings Ltd.
- A January 2013 technical report to the Board indicated that “the property does not appear to facilitate the NHT’s mandate for affordable housing solutions and is more suited for recreational/ heritage type facility.” The sale was finalised on May 27, 2013 and the Auditor General found no evidence to support that the Board’s decision was based on their being clear on how the property would be used. It was therefore not clear, how the NHT could explain the investment.
- The NHT had not received approval from the Ministry of Finance prior to spending $13,262,091 to hire a new Park Manager and six former Outameni employees, as is required.
- Since the date of the transfer of the title, NHT assumed full responsibility for the ongoing operational costs which at the time of the report (2015) totalled $28,098,686.00.
Permanent Secretary (current): Audrey Sewell
Breach Category: Resource Management
Permanent Secretary (at breach): Onika Miller
Breach Type: Lack of Evidence to Support Decisions