A report by the Auditor General's Department, shows that Accra Polytechnic made a surplus of GH¢7,969,036,144.99 in 2003 and 2004 from the school's current and non-current assets.
The school recorded GH¢19,662,945,355.37 in 2003 and ¢27,531,981,480.26 in 2004.
This came to light at the Public Account Committee sitting in Accra on Wednesday.
The amount was recorded out of treasury bills, inventories, receivables, and cash in hand and cash at the bank.
It also showed less current liabilities for the two years which are GH¢6,124,555,659.36 in 2003 and GH¢3,025,147,448.27 in 2004.
The accumulated fund as at the 31 December 2004 was GH¢13,538,389,696.01 in 2003 and GH¢24,506,834,031.99 in 2004.
Government subvention for the year 2004 was GH¢7,825,744,134.54 in 2003 and GH¢9,308,556,947.08 in 2004, representing government emoluments, administration, and service activity.
The school's internally generated funds amounted to GH¢4,608,673,738.40 in 2003 and GH¢.6,694,966.42 in 2004.
Mr Apreku Amuah, Finance Officer of the Polytechnic said internally generated funds comprise academic facility subsidy, sale of forms, hostel fees, production units, telephone exchange fees, transportation of wards, catering and transcript/certificate/results slips.
Mr Kwaku Agyeman Manu, Deputy Chairman for the Public Accounts Committee commended the school for the encouraging report and urged the authorities to reduce the school and hostel fees in order to attract many students who are qualified for admission.