Kenya's best tourism and hospitality training college (Utalii College) is on the verge of being shut down according to the latest audit reports.
According to the reports from Auditor General Edward Ouko, the College is not financially viable and thus faces closure.
Ouko cautioned that the operations at the college will come to a stop unless the government issues funds to support the institution.
"The current liabilities balance of Sh3.5 billion exceeded the current assets figure of Sh442.28 million, thus resulting in a negative working capital balance of Sh2.60 billion as at June 30, 2016.
"The college is therefore technically insolvent and its continued existence as a going concern is dependent on financial support from the Government and its creditors," Ouko's report read in part.
According to the 2015/16 Financial Year report tabled in the National Assembly, the institution recorded an accumulated fund deficit of Sh658.73 Million in the past two years, while its current liabilities stand at Sh3.05 Billion.
The College is, however, yet to issue a formal communication on the matter.
The college, which was developed in 1975, has been known for producing top-notch graduates in the hospitality sector.
Every year, the college churns out approximately over 50,000 graduates in the hotel, aviation and tourism industry in East Africa and the rest of the world.
In 2016, Utalii College was ranked the fourth best tourism institution in the world, according to the Young Chef Olympiad, an event that was held in Kolkata, India.
