The Public Accounts Committee has expressed concern over the deteriorating financial position of Peki College of Education, rejecting attempts to blame the institution’s growing losses solely on inflation.

The concerns were raised on Tuesday, May 19, during the Committee’s examination of the college’s audited accounts and financial operations.

Members of the Committee noted that the institution’s financial losses rose sharply from about GH¢916,000 in 2023 to over GH¢1 million in 2024, prompting questions about spending decisions and overall financial management at the college.

Chairperson of the Committee, Abena Osei-Asare, challenged explanations offered by the college’s Director of Finance, Hornesmus Quarshie, who attributed the institution’s financial difficulties to rising inflation within the economy.

During proceedings, Madam Osei-Asare questioned whether inflation alone could justify the significant increase in losses, particularly in the face of what the Committee described as questionable expenditure practices by the institution.

The Committee is expected to continue its scrutiny of the college’s financial records as part of ongoing parliamentary oversight into the management of public institutions.