Education and Science, Financial Services, Legislation, Lithuania

During 2014, LTL 17.3 million (EUR 5 million) was allocated for improving ratings of universities, supporting the education activities, reorganising the network of the education and study institutions, supervising the infrastructure and modernising student dormitories. As audit results revealed, the Ministry used the funds at peak efficiency not in all cases.

In order to have at least one higher education institution in the list of Top 500 universities, the Ministry allocated LTL 1.8 million (EUR 0.52 million) for the youth enhancement activities. However, according to the auditors, the funds used are not related to the desired result.

Auditors also note that the Ministry have difficulties in planning the funds for the support of the education activities. The year 2014 was not the first year when the intended funds were few times higher than able to be used. During 2014, only LTL 800,000 (EUR 231,000) from LTL 7.5 million (EUR 2.1 million) was used and remaining funds were re-allocated to other activities.

It is not the first year that auditors raise the question on the transfer to the state budget of the funds kept and not used in the account of the State Studies Foundation that are received from the paid loans, interests and payment penalties. During 2014, LTL 17 million (EUR4.9 million) supplemented the State Studies Foundation and currently LTL 94 million (EUR 27.2 million)is accumulated. In case the decision was made to keep them in the account of the State Studies Foundation, the solution on financial risk management must be made due to the fact that all the accumulated funds are kept in one bank.

During the audit, it was revealed that the Ministry allocated LTL 5.7 million (EUR 1.6 million) to the surveillance of the objects of the education and study institutions, but the initiative to decide which objects should be financed was left to the institutions themselves. Therefore, it was not ensured that the objects in need of state allocations could get it, the National Audit Office concludes.