AUDITOR'S REPORT Audit Completion Date: 12/11/2023 Secretary Economic Relations Division (ERD) Ministry of Finance Sher-e-Bangla Nagar, Dhaka- 1207. Opinion status: Unqualified. We have audited the accompanying Financial Statements of "Rural Electrification and Renewable Energy Development Project (REREDP-II)" UTC Blhaban, (16 floor), 8 Panthapath, Karwan Bazar, Dhaka. which comprise of the statement of cash receipts and expenditure, statement of comparison of budget and actual expenditure as at and for the year ended on 30th June 2023 and a summary of significant accounting policies and other explanatory notes. In our opinion, the project Financial Statements present fairly, in all material respects the cash and cash equivalents of the project as on 30th June 2023 and the funds received and expenses incurred for the year then ended in accordance with the IPSAS financial reporting under the cash basis of accounting and the requirements of project accounting manual issued by the Finance Division, Ministry of Finance, Government of Bangladesh as well as those of IDA guideline and agreement. Basis for opinion: We have conducted our audit in accordance with the 'Government Auditing Standards of Bangladesh' (GASB) issued by the Office of the Comptroller and Auditors General (OCAG) of Bangladesh which are based on the International Standards of Supreme Audit Institutions (ISSAls) issued by International Organization of Supreme Audit Institutions (INTOSAI). Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the Financial Statements section of our report. We are independent of the project in accordance with the 'Code of ethics' issued by the OCAG Bangladesh which is based on ISSAI 130- Code of Ethics (INTOSAI Code), and we have fulfilled our other ethical responsibilities in accordance with these ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Other Matter: This audit of the project financial statements has been conducted to comply with the specific requirements of the development partner as specified in the related loan/ Grant agreement. OCAG reserves all the rights to incorporate any audit observation from this report in the CAG's audit report for being laid before parliament to fulfill the constitutional responsibilities. Responsibilities of Management for the Financial Statements and internal Controls: Management of the project is responsible for the preparation and fair presentation of this special purpose financial statements in accordance with the International Public Sector Accounting Standard (IPSAS) financial reporting under the cash basis of accounting issued by the International Public Sector Accounting Standards Board (the IPSASB) of the International Federation of Accountants (IFAC), the requirements of projcct accounting manual issued by the finance division MOF, GOB as well as those of the IDA Luideline and agreement and for such internal control as management determines is necessar% to enable the preparation of special purpose financial statements that are free from material misstatements, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Special Purpose Ftinancial Statements: Our objectives are to obtain reasonable assurance about whether the financial statement is free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is not a guarantee that an audit conducted in accordance with GASB which are based on ISSAI will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these special purpose financial statements. As part of an audit in accordance with the Government Auditing Standards of Bangladesh which are based on ISSAls, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: * Identify and assess the risks of material misstatements of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. * Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. * Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieve fair presentation. Report on Requirements of the Development Partner: In accordance with the Project, Agreement was signed between IDA and Economic Relation Division (ERD) on behalf of Govt. of Bangladesh on January, 2018, we also report that: (a) In our opinion the funds were utilized for the purposes described in the Financing Agreements and agreed Project's annual work plans; (b) In our opinion projects expenditures disbursed and expenses claimed are in compliance with established proper procedures and according to the provisions of the financing agreements/ loan Disbursement handbook, and guidelines on financial management and analysis of project issued by the IDA. (c) The procurement of goods, services and civil works have been made in accordance with the financing agreements and IDA procurement regulations: (d) The PMU has complied with covenants specified in the Loan agreement. (Tasnin Ferdous) Deputy Director For Director General Foreign Aided Projects Audit Directorate Phone: 88-02-226663612 Project financial statements As of and for the years ended 30 June 2023 Addititional financing for REREOP-11 funded by The World Bank Credit No. IDA-5514 S ..... LOpening balance For the year Closing balance IDA-5514 Grant/Loan as on 1 July 2022 ended as on 30 June Notesi Resources (cumulative prior 30 June 2023 2023 (cumulative Resources_ period) (current period) current eriod Government of Bangladesh 6 Loan from development partner 7.1 5,17 5185,817 5 175 185.817 Grant from development partner 72 270.627 577 270,627 577 Other resources 8 386 272 578,073 964,345 Cash opening balance 5 - 105,818932 Total resources 5,446,199,666 106,397,005 5,446,777,739 Exenditure and Cash 1 Sub-LoanSs to POs for isriallin g SHS in 4,814804 255 - 810 804 25 Ire rural areas of Banglalesh ( -Cail 8 2 Sub-Loans !o PCs fo nsailing RAPSS 99.754.363 99 784 363 !in the rurai areas of Bangladesh (Cat-1) 3 Goods, Consultants' Services (Cat-2) 388792 086 15 2437361 407 035.522 4 Sub-Grants to POs iCat-3) 37 000 000 37,000.000 Total Expenditure 5,340,380,734 18,243,736 5.358,624,470 Closing Balance Imp,est account !Oerating account (RPA) 105.318 932 88 153 269 B8 153 269 Operating accoun (GOB) Total Expenditure & Cash s 5,446,199,666 106,397,005 5,446,777,739 Tno annexed notes 1 ro 12 form an integral part of these specia: oupose krianciai statements r/3 t o the Project 5sources and usos ot tunds of Additional Financing for Rural Electrification and Renewable Energy Development (RERED 11) Project 1,d,, IDA under Lan no IDA-5514 a i 1,w th yuut cm0u1C3 30 Ju,, 20>' SBL) i Actual Budget Difference For the year For the year Cumulative as For the year Cumulative as Noe edd 0Jue Cumulative asCuuaies Notes ended 30 June ended 30 on 30 June ended 30 June on 30 June 2023 on 30 June 2023 20_2___June 2023 2023 2023 Cash and nank balances as at 1 July 2022 5 105,818,932- 105,818,932 - iJ t3frcmì Govern nent ct anq ladesh 6 el e o Develornt Partner 7 1 5,175,185817 5,175,185,817 vakn1 nt Par trW, 7 2 270627,577 270,62 77577 S58,073 964,345 - 578073 964,345 I 106,397,005 5,446,777,739 105,818,932 5,44 5813.394 578,073 964,345 Int I reurrecS (f,ianci ng and_otter receipts) 106,397,005 5,446,777,739 105,818,932 5,445,813.394 578,073 964,345 pn Er n r' lv . at 0tr 10 18 243,736 5,358 624 470 18,243,736 5.358,624,470 ii Pro e18,243,73 5,358,6s2,47018,243,736 5,358,624,470 txpenses and othr expenses 18,243,736 5,358,624,470 18,243,736 5,358,624,470 I .ank entes as at 30 June 2025 5 1 5,153,269 87,5755196 87,188,924 578,073 964,345 - - i , o '0,, ,- s s: po posr t nanca1 statem ets Mvd. irmrul Hasar0 SAVF & Una Head. , msac ~an!,l. Tn>s .1 ItMay 0.3r-ym £ta,e D tpc ¶ 4ý 10.1 Reconciliation of expenses by funding methods Amount iAmount Nature of expense claim Category 1 Category 2 Category 3 m d Cld Difference -D;rec' payments Imorest account Other, Total expenses claimed Meincranoum record Add Expenses not claimed at year-end 18 243 736 dd Exenses claimed in the formn ot documentat:on Less Clained expenses related to prevous year-erd Total expenditure 18,243,736 - 10.2 Summary of Withdrawal Applications (SOE) -l Amount Amount SOE No Date Category 1 Catgry Category 3 Difference _______ reeivedl Claimed 10.3 Summary of Withdrawal Applications (Imprest Account Replenishment) Amount Amount No. Date Category Category 2 Category 3 received Claimed Total i 10.4 Summary of Withdrawal Applications (Direct Payment) Amount Amount No Date Category 1 Category 2 Category 3 Difference received Claimed Total Mi rniu Hasan ff At. t n f Q 1 11 Expenses from other resources In (currency) Actual Budget Difference For the year Cumulative as For the year C ut as For the year Cumulative ended 30June on30uJune evdeda3 ended 30 June on 30 June ended 30 on 30 June 2023 ended 30 June as on 30 2023 2023 June 2023 2023 June 2023 Consultant fee Operating cost Others Total Project expenses Note According to IPSA. 1 7 8 (c) an explanation is required about the material difference between the budget and actual amount 12 Project implementation As of 30 June 2023 overall 741 of Grant/Loan has been mpilrented in the framework of the IDA-5514 agreement The project expenses by categores are presented in the tables below Budgeted Project Expenses as Budget as of expenses as Total implementation Of 30 June 2023 30 June 2023 in of 30 June Project Budget as of 30 June in BDT BOT 2023 (in in BOT 2023 percentage) (in percentage) Category 1 Sub-Loans !o POs for insta(ling SHS in the 1 4 814804t285 rural areas of Banrgladesh Category 1: Sub-Loans to PCs for installing RAPSS in 99 784363 99 784t 363 the rural areas of Bangladesh C:ategory 2 Goods, Consultants Servics 407 035 8) 407 035 822 86 6/5 894,461 300 Category 3 Sob Grants 37 o00 -00 37 000 000 1% 45 068400 8% Total Project expenses 5358,124,470 5,358,624,470 100% 7,216,795,045 74% -kY Ilr4tasan Project financial statements As of and for the year ended 30 June 2023 REREDP-I funded by The World Bank Credit No. IDA-5158 Opening balance For the year Closing balance Nutes as on 1 July 2022 ended as on 30 June (cumulative prior 30 June 2023 2023 (cumulative period) (current period) currentperiod(li Government of Bangladesh 6 Loan from developnent Dartier 7 1 9 430378,007 9,431,37B 007 Grant from development Dartnei _ 7 1,041,321,608 041,321.608 Other resources 8 717,919 (481,111) 236 808 Cash opening balance 5 - 53,86 3,731 Total resources 10,472,417,534 53,382,619 10,471,936,423 ture and Cash 1 Sub-loans to Pos for installing SHS in the rural Preas of Banglacesi (Cat-1). AE 2 Sub-loans to POs for installing RAPSS 1150,358.435 51,5t? 162 the rural areas of Bangladesh (Cat-)l AE 3 Goods, consultalns services (Cal-2: AE 381.663,975 _ 38 663 4. Sub-grants-brogas (Cat-3): HE 22 694,000 - 22,694.000 S. Sub-grants-ICS (Cat-3): HE 599,450 266 181 800 599,632,066 6.Goods, consultanrts' services (Cat-3 HE 271 318,593 -318,593 Total Expenditure 10,418,553,804 __51,729,662 10,470,28346 Closing Balance Imprest account O perating account (RPA) 33 863.731 1,652 957 652 957 - Operating account (GOB) - - Total Expenditure & Cash 5 10,472,417,534 53,382,619. 10471.936,423 Tne annexed notes 1 to 12 form an integra. ;ar! f these speca. purpose financial staterlents ed a r Cr77- Staternent of the Project sources and uses of funds of Rural Electrification and Renewable Energy Development (RERED 1l) Project funded by IDA Loan no IDA-5158 As of and for tMe year ended 30 June 2023 In BDT Actual Budget Difference For the year Cumulative as For the year Cumulative as For the year Cumulative as Notes ended 30 June ended 30 ended 30 June N d 3 on 30 June 2023 ene 3 on 30 June 2023 edd3 on 30 June 2023 __________2023 June 2023 2023 Cash and bank balances as at 1 July 2022 5 53863731 53,863,731 - Add: Funding 'rom Government of Bangladesh 6 - Loan from Cevelopment Partner 7 1 3430.378,007 9<430,378 007 Grant from Development Partner 7.2 1041321608 1,041321,608 - Funding from other sources 8 (481 111) 236,808 (48-,111) 236,808 Total financing 53,382.619 10,471,936,423 53,863,731 10,471,699,615 (481,111) 236,808 Exchange differences - Other income - Total_resources (financing and other roccipts) 53,382.619 10,471,936,423 53,863,731 10,471,699,615 (481,111) 236.808 Less. Expenses from Government of Bargladesn 9 Expenses from Development Partner 10 51,720662 10470,283,466 51,729,662 10,470,283,466 Expense from other soumes 11 - Total Project expenses 51,729,662 10,470,283,466 51,729,662 10,470,283,466 Exchange rate differences - Other expenses - Total Project expenses and other expenses 51,729,662 10,470,283,46651,729,662 10,470,283,466 Cash and bank balances as at 30 June 2023 5 1,652,957 1,652,957 2,134,069 1,416,149 (481,111) 236,808 The annexed noles 1 to 12 form an integral part of Ithese special purpose financial statements asa n Staternent on cash flow on operatirg account #36002248 As of and for tne yea,s e,ded 3C June 2023 Balance as of I July 2022 53,673,594 Add: Receict from Governrnent Receipt from Developnent Partrer Bank interest 933,687 Exchange rate difference Total 933,687 Less: Amount of eig ble exPenses 51 547 862 Bank charges AT and transfer to BB (CONTASA) I,412,452 Exchange ate differen-e Total 52,960,314 Balance as of 30 June 2023 1646,987 The annexed notes to 12 forn an ntegral part of these soecial pupose financ1al stater-eits Md. Imrul Hasan Sv & Un; Hd, Finw -¾Lý b ern r) Staternent of uses of funds by Project activity and cormparison to budget As of and fos the years ed 30 June 2023 Actual Budgeted GrantitLoan For the year Cumulative of 30 For the year Cumulative of 30 ended 30 June J ended 30 June _________ ________ ______ 223 June 2023 203June 2023 2023 2023 Category 1 Sub oans to POs for Instalbig SHIS in 7,993,068 535 7 993 36 5 ural areas o Bangladesh ategory 1 Suboans to POs for nsta 20906297 554762 2 n the rural areas of Bang1adesnrý4.2 1219627 51578, i'ý0,2 Category 2.,od consultants' sen-vices 38,6i7 38 6 75 Category 3 Sub-grants-bioga 22,694.000 2 72, 69 ,,CCC category 3 Sub grats-icS 18 l 600 599,632.0636 181 i0 9 3 Category 3 GoodIs, consultants' services- 271,318.593 2-1_31 Tota 51,729,662 10,470.283,466 51,729,662 10.4702 83 466 T". annexed notes to 12 form an rtegra p t of fnese special purpose financia staternents SAVy & unit Had, tF Statement or cash fo.v on operating accoun, #365002256 As of and !or tne yea,s ended 30 June 2023 Balance as of 1 July 2022 190,136 Add: Rece:t frcm Governrrent Receipt -rom Develooment Pariner Bank interest 1 03i E xenange rate Iffe,ence Total 1,031 Less: Amout of e,gible exoenses '81 8 C0 Bank carges AIT and transfer to BP 'CONTASA) 3 377 Excagce rate difference Total 185,177 Balance as of 30 June 2023 5,990 The anrexec noeas i to 12 forr ar ntegral part of these speca pureose f-nancia stater, ents Md Imrul 11aSFn Notes to the financial statements 1 General information IDCOL channels grants and provdes soft loans for the development of rural infrastructure ie fe-ewable energy Since 2002, IDCOL is implementing renewable energy development p-ojects A Financng Agreement was executeo, between International Development Association (IDA) and Government of Bangladesh (GoB) on 23 October 2012 under REREDP 1I (IDA Credit No. 5158-BD) DCOL on the other hand, entered into a Subsidiary Loan Agreement and a Subsidiary Grant Agreement witn GoB on 10 January 2013 where GoB made USD 110.8 million available to 'DCOL (as Sub-loan) for financing Solar Home Systems (SHSs). other renewable energy projects and another 17 19 million fo, suQoor!ing !DCOL for payment of costs associated with procurement of goods consultants' services, taining etc in connection with the implementation of the project Tie closing date of the project is 18 Decerier 2023 2 Significant accounting policies Basis of preparation The financial staterrenis of the Project have been prepared in accordance with iPSAS Financ al -epo, ng under the Cash Basis of Accounting and in compiance with the Project Account Marua ssed by the Finance Division, Ministry of Finance, Government of Bangladesh and the covenans of DA-6202 loans and grants agreements. These special purpose financial statements reflect the data for the year eced 3C June 2022. Under the basis of accounitirg. f,nancing is recognized when received rather than wer eaf ed ana expenses are recognized when paid rather than when incurred. Expenses are resources dneen nr 1he payment of works. goods and services recognized n the financial statements in the cerod when tney ae paid. Financing According to the disbursement g,idelnes Vorld Bank may advance funds into the desigratec accoun: tO the borrowers known as initial aovance Besides. World bank may make payments at the bor:oer s request to the third narty known as direct payment, Another way is World Bank rray re mburs to :Be borrower for eiigible expenditures that the borrowers has prefinanced from its own sources known as Nor SoEl reimbursement procedure Finally, initial advance disbursed to the designatao accoout ray 0e replenished based on the actual expenditures as requested by borrowers known as SoE! eoaen shr-en procedure Expenses Consistent with the cash oasis of accounting the Project expenses are recognized and i-cloC , ' special puwpose financi sratemers wnen we paynent is actually mace or toe loan a discu sei Functional and presentation currency BDT is the national cor-ency of the ScvernmerT: of Bangladesh Ihe special puroose firarc:a l sran-ets of toe Project are oresented in BD- Dresentaron currency) and rounded to the nearest integer O BO< income and expenses denominated n jSD are convered into BDT apply ng the exciange rate set ouy the Bangladesh Bank oi tte date of .e tracsact-on Account balances denominated n U. are conveed nto USD apply,ng the exchange rate se ty Bangladesh Bank at the rerorra c-ate s of 30 Jure 2022. the exchange rate is EDT 93 45/US? M d Iroru Hasan 'i V a,f"3 ' F-1> ,, in4T onpor-1.- 3 Taxation According to the Loan/Grant Agreement the loan and grant amounts should not be used to pay any taxes and duties 4 Fixed Assets Any fixed assets purchased from Technical Assistance (TA) fund allocated under the project are recorded as expenditure under goods category. These goods are recorded separately as fixed assets it ICOL's books of accounts. Due to the cash basis of accounting the fixed assets procured under the Project are measured on the basis of cost of procurement and reflected in the special purpose financial statement as expenditures instead of capitalization in balance sheet The record of fixed assets is maintained in inventory sheets Considering non-commercial status of the Project and cash basis of accounting, depreciation fo' me 'ohcd assets is not accrued under the project FS However, depreciation are accrued and recorded n IDCOL s books of accounts. 5 Cash and bank balances / Cash and cash equivalents The project has two CONTASA operatng accounts maintained with Janata Bank Ltd Local Offce. iDha\a Branch, Details of the balances under the accounts are as follows: Opening Closing balance as balance as at For the year at 30 June 2023 30 June, 2022 ended 30 (inception to (inception to 30 June 2023 June 2023) June 2022) Imprest account _ _ Operating account (RPA) -2248 53,673,594 1646967646 96 Operating account (RPA) -2256 190136 5,990 g 990 Operating account (GOB) - - Total _ ___ j 53,863,731 1,652,957 1 652,957 6 Funding received from Government of Bangladesh Funds are allocated by tne Govewment of Bargladesh to cover GOB's share of eligible po,ec expenditures, as specified in ti,e project manual and in annual development programme for eacnr of the Project. Any allocated funds that have rot aeen expended by the end of a fiscal yea, lapse 3nd r-_is: be returned to GOB GOB contnbut on to he Project since inception and for the year are as F nws \.t applicable Loan ReceptL (in talka) Opening Closing balance as balance as at For the year at 30 June 2023 30 June, 2022 ended 30 (inception to 30 (inception to 30 June 2023 June 2023) June 2022) Disbursement by GOB _ Less Refund to GOB Total '-_JI 500? & J'sXY 7.1 Loan received from Development Partner World Bank. has provided funds to the I roject to cover its share of eigibie project expenditure These funds, which must be repaid to World Bank after the conclusion of the Project have been drawn by The Project in accordance with the following withdrawal procedures: Opening I balance as at For the year Closing balance as 30 June, 2022 ended 30 at 30 June 2023 (inception to 30 (inception to 30 June 2023 June 2023) June 2022) 4 - 4 SOE Procedures 7 186,937 546 1 7,186,937 546 Direct payments 1,473,127,943 1,473 127 943 Imprest account repemshments - iOt h e r s ( I n t i a l A d v a n c e & R e i m b u r s e m e n t ) 7 7 0 , 3 1 2 , 5 1 8 - 7 7 0 , 3 1 2 5 1 8 Total _9,430,378,007 - 9 ,4 3 0 ,378,0 0 7 7.2 Grant received from Development Partners Opening Closing balance as balance as at For the year 30 June, 2022 eat 30 June 2023 3Jn202 ended 30 (inception to 30 June 2023 (inception to 30 June 2023) June 2022) - - - SOE Procedures 94.383 919 - 904 383 919 ,Direct payments _ Imprest account rerlenishments 1Others (Initial Advance & Reimbursement) 136,937.688 )38.937 688 ITotal 1,041,321,608 1,041,321,608 8 Funding from other resources Other resources ccnsist of the Follo0_vng Opening Closing balance as balance as at For the year at 30 June 2023 30 June, 2022 ended 30 (inception to 30 June 2023 (icptio to June 2022) June 2023) Project revenues - - Bank Interest - A to E-2248 49,852.678 933,667 50 786 365 Bank Interest - HE-226 6 7,595 996 1,030 85 1 97 S2 Exchange gain ano loss Less TDS nr interest and oner feeS 56,730,754 1 415.82 58 -6' 53 otal 717,919 -(481,111) 236,808 mAk 9 Expenses from Government fund In BDT ¯¯_A¯tua¯ Budget Differenc yFor te year Cumulative as For the year Cumulative as For the year Cumulative as ended 30 June on 30 June 2023 ended 30 June on 30 June 2023 ended 30 June on 30 June 2023 2023 ----------_ 2023 2023 Categufy l Sub-loans to POs for irstalling SH9 i thie rural aseas of Banglladesh -- Category 1 Sub loans to POs for instalrng RAPS in the rural areas of Bangladesh Category 2 Goods. consultanits' services Category 3 Sub-grarts-biogas - l - Category 3 Sub-grarts-ICS --- Category 3 Goods, consultants' services - Total Project expenses 10 Expenses from Developmnent partners In BOT Actua Budget Dfference For the year Cumulative as For the year Cuulative as For the year Cumutlative as ended 30 June on 30 June 2023 ended 30 June on 30June 2023 ended 30 June on 30 June 2023 32023 2023 2023 Category 1: Sub-loans to POs for infstalbng SHIS n ne 7 993 068 535 - 7 993 058 535 rural areas of Bangladesh Calgory 1 Subloans to POs for inistrhling RAPSS n e 1, 547,862 1 201,906 297 51,547,862 1201.906 297 rural areas of Bangladesh - -_- Category 2 G3oods, consutltants services - 38 663,975 38 663 975 Category 3 Sub-grants-brogas 22.694 060 2 69.11 000 Category 3 Sub-granls-ICS 181800 599,632.066 18 800 599,63 066 a¯tegory 3 Goods consuant,, servr es 27t 318S3 _02 1 8 593 Total ProeCt x ese 51,729,62 10,470,283,466 51,729662 10470283466 ifrasrr c~-~ N it~ 11 Expenses from other resources In BOT Actual Budget Difference For the year m For the year Cumuaati V ndr W 0 -u,, as on0tive ended 30 June ended 30 I ended 30 June as on 30 2023 on 30 June 2023 June 2023 on 30 June 2023 2023 June 2023 Consultant fee Operating cos__- Others Total Project expenses - - Note Accorcing to iPSAs 1 7.8 (c) an eclp anaträn js reqired about the matenal diffbrcce between the budget and acua ioCunt 12 Project irnplementation As of 30 June 2023, overall 79% of Grani oan has been ieipemented in :he framework of tne iDA-5158. The prolct[ expenses oy categcnes are oresented n the tablos belwc Budgeted Project Expenses as Budget as of expenses as Total implementation Of 30 June 2023 30 June 2023 in of 30 June Project Budget as of 30 June in BDT BDT 2023 (in in BDT 2023 perceritage) (in percentage) Categorj 1 Sub-toans to Pos for insl avng SHS nA Ve 93 068,535 7 993 068,535 69% rraltareas ofBtangladesh -_--_--- - - _- --- 88 11624Ä,4 ,83 - - --- Category I Sub-loarns to POs for instiq RAPSS n 21 900,297 1 20.00 297 10% the rural areas of Banga,desrt Caipgofy 2 Goods cosuitants servcees 3f 663,_975 381,663.975 4% 48508 /03 9% Category 3 Su-grants-bios '22 694.000 22,694,000 -C Catego 5¿bcrants CS 599 63 20 o 6 599 63? 006 1/ 1141 333 133 Caeg 3_GOMs, cm sfltan i3 18 593 3, 2 Total Project expenses 10 470,283,466 10,470,283,466 100% 13,250880,000 79% Md Imrui tlasan vt,1-ltricnr oi-1e! 10,1 Reconciliation of expenses by funding methods -egory 2Amounit 7 AmounIt Dfeec Nature of expense claim Category 1 Czegory 2 Category 3 r id culamed u iruceivet limed SOE Direct payments - Imprest account Otners Total expenses claimed Memoranrm record Add Expenses rot claimed at year-erd Add Expenses carmed by documentation Less Unclaimed expenses at Drevious year-end Total expenditure 51,547,862 - 10.2 Summary of Withdrawal Applications (SOE) Amount Amount SOE No. Date Category 1 Category 2 Category 3 received Claimed Diference Total - 10.3 Summary of Withdrawal Applications (Imprest Account Replenishment) Amount Amount ,fernc Date Category 1 Category 2 Category 3 received Cai Dfferece eevd Claimed ___ Total- - 10,4 Summary of Withdrawal Applicat;ons (Direct Payment) No. Date Category 1 Category 2 Category 3 Aiout Amount Difference received Claimoed Total - _-__- 10.5 Summary of Withdrawal Appications (Non SOE- Advance) ---- Amount Arnount No. Date Category 1 Category 2 Category 3 rcv DifferCmce Ttreceived Claimed T otal _______ F roject financial slatements As of and for the years ended 30 June 2023 2nd Addititional financing for REREDP-i1 funded b The World Bank Credit No. IDA-6202 Opening balance For the year Closing balance as as on 1 July 2022 ended on 30 June 2023 (cumulative prior 30 June 2023 (cumulative current period) (current eriod period n tfBangladesh 6 - Loan froni develo)pment partner 7,1 208,849,099 - :::208,849 099 Grant from developmnent partner 7.2 1,462,804.833 292.675.358 1,755,480 720 Other resources 8 550.812 501 838 052 650 !Cai3h Openir9 balance 5 - 9616 873 [Total_resources 1,672,204,743 302,7941599 1,965,382.469 Expenditure and Cash 1. Sub-Loans to POs fr instalhng RAPSS in the 200,516,798 - 20,516,798 rural areas of Bangiaesh (Cat-1), AE 2 Goods Consultants' Services for AE (Cat-2) 300,185,890 636833 3 34019 603 3.Goods. Corsultants' Services for HE (Cat-3) 1387314 364 126 178 513492 586 4. Sub-Grantts-Ogcas (Cat-4) HE ___ 108.097.500 I________ 08.097,500 5 Sub-Grants-ICS iCat-4) HE 666,473,317 33.377.790 699,851 107 Total Expenditure 1,662,587,870 223389.725 1,885977.594 Closing Balance lmprest acco,nt Operating actcount (RPA) 9.616,873 79.404,87 79 404 35 Operating ac:ount (GOS) Total Expenditure & Cash 5 1,672,204,743 302,794,599 1,965,382,469 The annexeu inotes ir 2'm o an ntegral par of these special purpose financial statements (o)n Statement of the Project sources and uses of funds of 2nd Additional Financing for Rural Electrification and Renewable Energy Development (RERED II) Project funded IDA under Loan no IDA-6202 A of and for the year ended 30 June 2023 In BDT Actual Budget Difference --- For the year For the year Cumulative as For the year Cumulative as Notes ended 30 June on 30 June 2023 ended 30 on 30 June ended 30 June on 30 June 2023 2023 June 2023 2023 2023 Cash and bank balances as at 1 July 2022 5 9,616,873 - 9,616,873 - Add: Funding from Government ol Bangladesh 6 Loanfrom Devolopment Partner 71 - 208,840,099 - 208,849 009 Grant from Development Partner 7.2 292,675,888 1 755.480,720 292,675,888 1,755,430720 Funding fron other sources 8 501,838 1,052M650 - - 501,838 1 C52 650 Total financing 302,794,599 1.965,382,469 302,292,761 1,964,329,819 501,838 1,052,650 Exchange difference5 Other ncnme lotal resources (financing and other receipts) 302,794,599 1,965,382,489 302,292,761 1,964,329,819 501,838 1,052,650 Less Expernses from Government of Bangladesh 9 Expenses from Development Partner 10 223,389,725 1,885,077,594 223,380 725 1 885.9177 94 Expense from other sources 11 Total Project expenses 223,389,725 1,885,977,594 223,389,725 1,885,977,594 - Exchange rate differences Other expernses Iotal Project expenses and other expenses 223,389,725 1,885,977,594 223,389,725 1,885,977,594 Cash and bank balances as at 30 June 2023 5 79,404,874 79,404,875 78,903,036 78,352,225 501,838 1,052,850 The aiinnxed iotes 1 to 12 fo an a fIei1 pa rt of Ir Ns special inirpose financia Il staten ents iM irorul Ieasen CAVny Cinm,d 00OL Sta:ement on cash fo., on operating account #9429 As f and for the years ended 30 June 2023 Balance as of I July 2022 8,433,319 Add: Rece,pt from Govergment Rece,pt from Development Partner Bank nerest 224 287 E,__9_____ Categor 4. S,b-Gra-S-CS 33 377 790 69 833zV 70 5 107 Total 223,389,725 85,077,594 1 23300,725 185 977.594 The ann',ex rees I o 3 2rn an era 04ad1 h se spe a pUrpse f rarcal statem,erts tIl d i nlærut i lasan 71at'O1123 C1510410I 7177 U. IIII,P nu --1r J3 --4 --- ----- Notes to the financial statements 1 General information IDCOL channe!s grants and provides soft loans for the development of rural infrastructure e renewable energy. Since 2002, IDCCL is rnplementing renewable energy development projects A Financing Agreement was excuted between International Development Association (IDA) and Government of Bangladesh (GOB) on 30 May 2018 under Additional Financing it fof REREDP 11 (;DA Credit No, 6202-BD). IDCOL, on the other hand, entered into a Subsidiary Loan Agreement and a Subsidiary Grant Agreement with GoB on 20 August 2018 where GoB made SDR 20 6 million available to IDCOL (as Sub-loan) for financing in Remote Area Power Supply Systems (RA'SSl and another SDR 17.2 million as (Sub-grant) for supporting IDCOL for payment of costs associated witn procurement of goods, consultants' services, training etc. in connection with the impementaton of the project Besides, the grant amount is also used for installing household biogas plants and energy efficient improved Cook Stoves (ICS). The closing date of the project is 18 December 2023 2 Significant accounting policies Basis of preparation The financial statements of the Project have been prepared in accordance w h IPSAS 0inancta: Reporting under the Cash Basis of Accounting, and in compliance with the Proje:t Account Manua issued by the Finance Division, Ministry of Finance, Government of Bangladesn anc tne covenants of IDA-6202 loans and grants agreements These special purpose financial statements reflect the data for the year ended 30 june 2022 Under the basis of accounting, financing is recognized when received rather than when earned and expenseb are recognized when paid rather than when incurred Expenses are resourmes drected for tie payment of works, goods and services, recognized in the financial statements in tne penoo wer, they are paid Financing According to the disbursement guidelines. World Bank may advance funds into the ,esicnatec account of the borrower IDCOL) Known as initial advance Besides, World bank may make payments at the borrower s request to the thud party known as direct payment Another way s WoA Bank nmay reimburso to ne borrower for eligible expenaitures that the borrower has prefinanceu `rom :s own sources known as Non SoE/ reimbursement rrocedure. Finally, initial advance C,sbursed to the designated account may be replenished based on the actual expenditunes as eaLested by orower known as SoE/ replenishment procedure. ExpensEts Consistent with the cash basis of accounting the Project expenses are recognize't an ncuiea n tle special ourpose financial statements when the payment is actually made or the loan is disb,isee Furctc'ial and cesecntation currency BDT s tre rational currency of the Government of Bangladesh Treeopei o cse 'nanca statements of the Dro!ect are oresented in) BDT (presentation Cuitency) and uonec r he est integei of BDT Income and expenses denomnated in USD are convertoo iwo BC rN! :tv e excnange rate set oi.t by the Bangladesh Bank on the date of the transaction Accout oalances denoinated in BDT are converted into USD appyg me xae se' n-1 the Bag aadesh Bank -i: the reporting date As of 30 June 2022 the exchange rate ig 13 , Z %&rs'- . 'Ad lin 3 Taxation According to the Loan/Grant Agreement the loan and grant amounts should not be used to pay any taxes and duties, 4 Fixed Assets Any fixed assets purchased from Technical Assistance (TAi fund allocated under the protect ae recorded as expenditure under goods category. These goods are recorded separately as fixed assets in IDCOL's books of accounts. Due to the cash basis of accounting, the fixed assets procured under the Project are neasured on the basis of cost of procurement and reflected in the special purpose financial statemen as expenditures instead of capitalization in balance sheet Considering non-commercial status of the Project and cash basis of account ng denreciation for the fixed assets is not accrued under the project FS. However. deoreciation are accrued a,d recorded in IDCOL's books of accounts 5 Cash and bank balances I Cash and cash equivalents The project has two CONTASA operating accounts maintained with Agrani Bank to Teigaon Branon Opening Closing balance as balance as at For the year atoin une as 30 June, 2022 ended 30 a (inception to 30 June 2023 inception to 30 June 2022) June 20231 Imprest account - Operating account (RPA) -8680 8433.319 8,423 762 6 4 23 762 Operating account (RPA) -9429 1.183,554 70,981 13 9 113 Operating account (GOS__3) _ Total 9,616,873 7 9,404,8759404875 6 Funding received from Government of Bangladesh Funds are alocated by the Government of Bangladesh to cover GOB's share of ege -,olect exnenditures as secified in tne project manual and in annual developrnent prgraroac.r eacn of th Project Any ailocated funds that have not been expended by the end of a fiscal year iapse rr, i-us* he returned to GOB GOB contrbution to the Projec: since inception and for the yea a as fuovs Vot applicabLe for th s project Loan ReceIot (n a k _a) __penin Opening C balance as at For the year Closing balance as 30 June, 2022 ended 30 at 30 June 2023 (inception to 30 June 2023 (inception to 30 June 2022) June 2023) Disbursement ny 0GOB Less Refund to G08 Total -ro A F ( <( i'u i rr &nvrn4n 7.1 Loan received from Development Partner World Bank has provided funds to the Project to cover its share of eligible projet eXperditure These Opening Closing balance as balance as at For the year at 30 June 2023 30 June, 2022 ended 30 a cepton to 30 (inception to 30 June 2023 (ne to23 June 2022) June 20 SOE Procedures 108,849.099 108.849099 Direct payments I irorest account replenishnnts - Olhers Onitial advance) 100,000,000 100 00'0 00G Total 208,849,099 208,849,099 7.2 Grant received from Development Partners Opening OpeningClosing balance as balance as at For the year C 30 June as 30 June, 2022 ended 30 (inception to 30 June 2023 (inception to 30 June 2023) June 2022) SOE Procedures 765,608,056 177,365 150 942.973 205 oarec artayment morest account replenishments Others lnital advance & Reimbursement) 697,196,777 115,310.738 8i2 507 5 5 1Total 1,462,804,833 292,675,888 1,755,480,720 8 Funding from other resources Other ;esources consist of the followilng Opening Closing balance as balance as at For the year 30 June, 2022 ended 30 (inception to 30 June 2023 (ncepton to 30 June 2022) June 2023) Project evenues Bank interest-AE-680 4,757,156 22d.287 i 4 12 Bank l-erest-HE-9429 4,959,870 1 589.503 540 533 E xchange gan and oss Less T135 on rterest, bar, charges & 9.166,214 1 32 ltrarsfe to govt treasL,/ CONTASA) Total 550,812 1 501,838 052 650 9 Expenses from Government fund In BDT Actual Budget Difference For the year C ivL For the year Cumulative as For the year ended 30 June ended 30 on 30 June ended 30 June 2023 on 30 June 2023 June 2023 2023 2023 on 30 June 2023 Category- 1: Suo-Loans tn P0s for installing RAPSS in the rural areas o[ Bangladesh Category-2 Goods Censultants Services for AE - Category-3 Goods, Consullants Services for HE - - Category 4 Sub-Grants Biogas- Category 4 Sub-Giants-ICS Total Projeet expenses 10 Expenses from Development partners In BDT Actual Budget Difference For the yCar For the year Cumulative as For the year Curutivi as Cumulative asCmuaies ended 30 June on 30 June 2023 ended 30 on 30 June ended 30 June on 30 June 2023 2023 June 2023 2023 2023 Category I Sub-Loans o POs for nstali ng RAPSS in the 200 516798 200.516,798 rural areas nf Bangladesh Category 2 Goods Consultants Serviees fo- AE 63.833 713 304 019,003 63,833,713 364.019,603 i Category-3 Goods, Consultant Services to HE 126,178 222 513 492,586 126 118 222 513.49286- Category 4 Sub-Gmots-Biogas - 108.097,500 - 108,097.500 Category 4 Sub-GrnsICS 33,37 790 699,851.107 33 377,790 69985 107 TotaProject expenses 223,389,725 1,885,977,594 223,389,725 1,885,977,594 -- N,i1 'FfC ..cq Md. truf I n lIsOrclroZS eso a5rn sn 5 um SrI t" 10.1 P. econciiation o f epenses by funding methods Amount Amount Nature of expense claim Category 1 Category 2 Catagcry 3 Category 4 Difference recelved Claimed 5 G 4 4 5 1 0 7 6 77 7 7 3 6 5 7 3 6 Othe's 42 441 70095 297, 1 5 3'738 15,3738 T ota_3e penseso clamed 101,7 42,952 18 7 06, 366 101969657 292II 9,8989 29 2 67 5,8 Mer'orandoom record - ----4- ,Ado,a Experises r_c clained a_29ye rd c, e - a' Y aa62.253 29 55 300 o-nO Less Exeooses reiated lo 39q3,6 54c0G GoR - years clatmed t,, year 37 953 Sol 54 580 04 6725485 Total expenditure 63.851,644 126,78,222 33,012,385 i 10.2 Summary of Witldrawal Applications (SOE) AmOunt Amount Dfeec No, Date Category 1 Category 2 Category 3 Category 4 Dierence Noý ~ ~ ~ ~ ~ ~ ecie CI Dt aeoyIiCtgr2Iimed 1DCOL-AFli-GRA 9i <5-Nov 37 972 608 54588 144 4 705 486 5 26 2Å -9 269 23' 1DCOL-AFi GRA-20 27 Apr-23 21,468,903 53 168 29399 Total _ _- 59,441,511 107_.069 10166_70 177,3o5_150 n73s 150 i0 3 Summary of Withdrawal App Iicaons (timprest Account P.eplenishment) No~~~~agr 42t Clooc No Date CateoC,tegi ory 2 CategorY ategor 4 eAm,u Ak,umrd Total 04 Summary of W thdrawal Appicalonrs (Direcl Payment) Catgoy 2 Caegrly3 ateor 4 Amounit Am,ount Dfeec No, Date Category 1 Catgory 2 CatCgory3 Catigomy 10 5 Sumimary of W3thdrawa Appl,cations (Others- Non-SoEIRe mbumemet) - _______ - ---~ mout Aount,oc No Datn Category 1 Category 2 Category 3 Category 4 1 ernc oceived C iamed W002-AFII-GRA-G' i, e- 42>3!1 73 2 "G 8 Total - 42,301.441 73,09297 , 115 310703 115 310.738 OLwe'M,;d 11 Expenses from other resources In (currency) Actual - Budget _ Difference For the year Cumulative as For the year C as For the year Cumulative ended 30 June on 30 June ended 30 ended 30 June as on 30 22023 023 June 2023 2023 June 2023 Consultart fee Operahng cost Cthora Total Projeet expenses Nete Acccrd.ng to IPSAs 1 7 8 (G an explanakon is r-equired about the malet al diff,rence bebyeen the budget and adcil arout. 12 Project implementation As o 30 June 2023, overai 35% of Granilcan has been implemented in the arimework oe the DA-6202 agreemient tie crojetaj E xpendituire - 927 o112,6021459 778092 755 891,295,214 C os n alance 'oconr RPA~2.2050 573 -20 dcx- J7 GOB 25 F xependiture & Cash5 115269,02 7 8,041 698,170 499 - i-. ÷> -r-n s 2 f ori an ätegra, of :,se soec al purPos, are a - a Aarngr y\1 amgOI gapcutiv Statement of the Project sources and uses of funds Global Clean Cooking Program under Additional Financing Il for Rural Electrification and Renewable Energy Development Project Il Grant No. TF0B4774 As of and for the year cond 30 June 2023 rl BDT Actual Budget Difference For the ycar For the year Cumulative For the year Notes ended 30 Jun C e as ended 30 as on 30 June ended 30 June Cumu0atie as 2023 on 30 June 2023 June 2023 2023 2023 on 30 June 2023 Cash and bank balances as at 1 July 2022 5 2,666,573 2,666,573 - Add: Funding from Government of Banqadesh 6 - Grant from Development Partner 7 783 212,548 898 212,548 783 212,543 898 212-548 kinding from other sources 8 (31 1.050) (42,048) - (311,080) 2 048> Total financing 785568,040 898,170,499 785.879,120 898.212,548 (311,080) (42,048 CEchange differences Other 'come Total resources (financing and other receipts) 785,568,040 898,170,499 785,879,120 898.212,548 (311,080) (42,048)i kess Expenses from Govern aem of Bangadetst 9 xpenses from Deveiopment Partner 10 778,692,755 891.295,214 778.692 55 39' 295 214 EKpense from olher sources 11 Total Project expenses 778,692,755 891,295,214 778,692,755 891 295,214 xchange rate differences - Olther expensos Total Project expenses and other expenses 778,692,755 891,295,214 778,692,755 891 295.214 Cash and bank balances as at 30 June 2023 5 6,875,285 6,875,285 7,186,365 6 917333 (311,080) (42,048 Sie ann xed n otes 1 ro 2 form an itegr al par Of these special purpose financial statements 4se ,Md. Imrul Hasan comy wrait len r Ståtement of uses of funds by Project activity and comparison to budget As of and for the ye3rs ended 30 äune 2023 GCF-TF084774 Grant Actual Budgeted For the year For the year ded 30 JnCumulative of 30 ended 30 June Cumulative of 30 2023 i June 2023 June 2023 ______________________2023 2023 Categorl IGoods, =slta-s' senizes for ICS Caeg ory 2 Sub-orants for 6C778 392 753 778,692,755 -73 392 755 77 692 75 Total 778,6992755 778,692,755 77_892 755 778,692,755 The annexeds notes 1 to 12 foorm, m rtgral pa-t of lhese scec,a Crpse f rancial statemle,ta Be;yhrsc;s:61tcAM Åd, ir HaiR,an IwasRumure~~~- OePmn exsI Mcnt Statement on cash flow on operating account #0100226210247 As of and for the years endad 30 June 2023 Balance as of 1 July 2022 2,666,573 Add: Receot from Government - Raceiot from Deveiopment Partner 593 552 288 Bank nterest 14 497 Exchange rate d,ference Total 593,566,784 Less: Atnount of eIgib:e expenses 589 032 495 Bank charges AIT and transfer to BB 325 57- Exchange rate nifference Total 589,358,072 Balance as of 30 June 2023 6,875285 The annexed notes i to 12 'orm an ntegraý car' ,f rse spec- au-pose ranc,a starernen:s Å3cCt -Ær\f{3~0 3 F ~ts~c~s et. r'rsstrunn L S Notes to the financial statements 1 General information infrastructure Development Company Ltd (DCOL) patron'zes erergy efricient clean cooKIng arrangement ihrough channelng grant lund from Internattona' Deve;ooment Parnne,s to domestc Partner Organizations for instalation of Improved Cook Stoves (ICS; S nce Ine aunch of the IOS program n 2013. IDCOL ras provided ins,tutiora grant and technica; assistarce to instal 2 D9 tihon ICSs till December 2020 A Financing Agreement was executect oetween Internat.cnal Development Association (IDA) and Government of Bangladesh iGoBi on 31 May 2021 unce- Global Clean Cooking Program under o Additional Financ,ng 11 for REREDP 11 Pr3ject (GCF TF. 0B4774) DCOL, on the other hand, entered into a Suns ,dary Grant Agreement with Government or Bangladesh (GoB) on 23 June 2021 whe,e Go made USD 20 rriffo availase to IDCOL fo. :sbursement of sub-grant to install !CS and payment of ^osts associated with oceurement of goods. consultants se,v,ces, training etc in connection with tne jnplemerta-tn of the project Tne closing date of the pro:ect ;s 18 December 2023 2 Significant accounting policies eass of preparation Tne fnancial statements of the Project nave been orepared *n acorvOa,ce m11 PSAS Firtanc,a Report,ng Under the Casn Basis of Accouning, an conoD ,,n the P'ojeot Account Manuai ssued by the Finance Division, Ministry of Finance, Govenm-e-t o Bangiadesr as we as development partners requirements) and the covenants of tre nans ar grants Teee sov; a orpose fnanral statements reflect tre data for the year endea 3C June 2-2 Urder the :asis of accountirg. financing is recogfized vher ec-ee -a:ne :,ar m-er earned and exoenses are recognized wnen paid rather than when inc.-ed hxperses ta resources directed 'or the oaymert of worns goocs and services, 'ecognized in tre fra'ì- i statemeis in the peiod when they are oao Fk ancing Aocording to the isbursrnert guidelines World Bank may arva--e -unds rro tre designaleo accourt of the borrower (IDCOL) known as nita adva- B He . Wvn JÄ d bank may make oaments at the borrower's reluest to the third party en s O,shursed nctonal ana presentation currency 8D1 is the national currency of the Government of `arle mrnca s:atemerts of the Projet a9e presented in BDT (presenta: je c :e ne,est rteger o" RDT income ard expenses denomirated n D are -cre-er: ap e,ci^ange rate set out by tne Bangladesh Bank or tre date or ts :'a-sa,w Account baiances denormrnateo ti BDT ae convertlec io ISro ya v,e nae sv : y i!ne Balnadesh Ba,k at the rePoing date As of Y ,- - -< 'a:e is BDT hD 45;USD 3 Taxation nrrg to rna LDarGrart Agreenýen: the n am Vrar- '_s r e - ý aya a ri ds 4 Fixed Assets Any fixec assots purcnased from Tcnnical Assistance (TA) funo aloated andeý the pro,ect are recorded as expenditure inder goods category Thuse goceds are recorded seca-ately as fýed assets in IDCOL's books of accounts Due to the cash basis of accounting, the f!xed assets pecured under me Pro;ect are measured en the bas's of cost of procurement and refiected in the specia purpose fnancia s,tatement as expenditures instead of capitalzation ir balance sheet. Considerno non-commercial status of the Project and cash bas,s of acourtrg depreciaton for the fixed assets is not acerued under the pro:ect FS However deprecaron a,e accrueo and recorded in IDCOL's books of accounts 5 Cash and bank balances / Cash and cash equivalents The project has two CONTASA 3pera!ig accounts ma)ntained witr Ja-aa hank -:d Sher-E- Bargla Nagar Dhaka Details are as fo !cws Opening Closing balance as balance as at For the year at 30 June 2023 30 June, 2022 ended 30 i ainception to 30 (inception to 30 June 2023 f a June 2023)i June 2022) Imprest accounit Operating a)ccount (RPA) -10247 2,666 573 6,87b 285 6 87--255 Operating account (GOB) - ,Total 2,666,573 6,875,285 6,875,285 6 Funding received fromn Goverrnment of Bangladesh Funds are a;ocated by the Governent o Bangtadesh to cover GOB's snare of e1g ble Qroiect expenaitures, as specified ir the prolect manual anc in annual developrent 0-eg amme for each "f the Preject Any aliccated 'unds th-at have not ceer exoendec by tre ene c' a 's:a:? -5a epse and m,st be returned tc GOB GOB contribunon to *ne Proje,t siCe .ncep:i or a er :,e I;e? are as foilows Net applcabe under the project Lean Receept (ýn taka) Opening Clusing balance as balance as at For the year at 30 June 2023 30 June, 2022 ended 30 (iriptin tu 30 (inception to 30 June 2023 June 2022) DisbursemAnt by GOB Less, Reiurd to GOB - Total 7 Grant received from Devetlopment Partners Opening Clasing alance as balance as at For tne year 30 June, 2022 ended 30 at 30 June 2023 inception to 30 (inception to 30 June 2023 june 2023t june 2022) SOE Proceoure 23 552 255 233 5 Direct eayment -___ i-,rest accour rAe neshmen s Oners (Irtal A'ivaece) 1 5200 000 459 di 2 !Total i iCoO000 783,12,48 -98 212548 8 Funding from other resources Othei resources consist of the followng Opening balance as at For the yearClosing balance as 30 June, 2022 ended 30 at 30 June 2023 (inception to 30 June 2023 JuJune 2022) Jne 2023) Project reVenues I j - Bank Inte,est-10247 317,185 14,497 331 582 Exchange gai and loss Less: TDS on interest and other fees 48,153 325,577 373 730 Total 269,032 (311,080) (42,048) Ass,ture a deet: N4d Imru Hsn sfrstlrsclsns ~ ~ ~ ~ C' Fun iYtS7 0>ir~~f~i 9 Expenses from Government fund In BDT Actual Budget Difference For the year For the year Cumulative For the year Cumulative as Cumulative as ended 30 June ended 30 June as an 30 ended 30 June Cun e as on 30 June 2023 on 30 June 2023 2023 2023 June 2023 2023 Category IGoods, consullants' services for ICS Category 2 Sub-grants for ICS Total Project expenses 10 Expenses from Development partners In BDT Actual Budget Difference For the year For the year Cumulative For the year Curulative as ended 30 June ended 30 June as on 30 ended 30 June on 30 June 2023 {on 30 June 2023 2023 { 2023 June 2023 2023 ort30Jue_02 Category 1 Goeds, onnsultants serves fnr ICS - - Category 2: Sub-graris for IS 778 692.755 891 295,211 779 692 755 891295,214 Total Project_expenses 771,692,755 891,295214 778,92,755 891.295,214 InfrawC Md, lrnrul Ha r Cwn,YVI 1n 10.1 Reconciliation of expenses by funding methods Nature of expense claim Category 1 Category 2 Amount received Amount Claimed Difference SOE 293 552,288 293 552,285 293 552.288 - Direct payments _ { Imprest account - - - Others 189 660 260 189 660,260 i89 60 260 Total expenses claimed - 483,212,548 483,212,548 483,212,548 Memorandum record - Add Expenses not claimed at year-end 293 29 398 Add Exoerses claimed by documentation Less Unclaimed expenses at previous year-end Total expenditure 776,505,945 10.2 Summary of Withdrawal Applications (SOE) SOE No. Date Category 1 Category 2 Amount received Amount Claimed Difference IDCOL GCF 005 28-Mar-23 - 293 552 288 293 552 285 293 552 288 Total - 293,552,288 1 293.552,288 293,552,288 - 10.3 Summary of Withdrawal Applications (Imprest Account Replenishment) No. Date Category 1 Category 2 Amount received AMOUnt Claimed Difference 10.4 Summary of Withdrawal Applications (Direct Payment) No. Date Category 1 Category 2 Amount received Amnount Claimedi Difference 10.5 Summary of Withdrawal Applications (Others- Initial Advance) No. Date Category Category 2 Amount Claimed Difference iC L ;CF CO3 7-Nov-22 - 189.660:260D129 66012'0909 d 2300,00 COC 30c ____ :cC Total - 489,660,260 489,660 260 _489,660,260 11 Expenses from other resources In BOT Actual Budget Difference For the year Curmulative For the year Cumulative as For the year Cumulative ended 30 June as on 30 June ended 30 on 30 June ended 30 June as on 30 -- -2023 2023 June 2023 2023 2023 June 2023 Consultant fee Operating cost Others Total _Project expenses - - - - Note Arcoiding to IPSAs 1 7 8 (c) an explanation is required about the mitrinal difference between the budget and actual amount 12 Project implementation As otf 30 iune 2023, overall 40% of Grant has been implemenled in the & rnmework nf tle Grant Agreement no. GCF-TF04774 The project expenlses by categoes? are presented in the tables below Budgeted Project Expenses as Budget as of expenses as Total implementation Of 30 June 2023 30 June 2023 of 30 June Project Budget as of 30 June in BOT in BOT 2023 (in in BOT 2023 percentage) (in percentage) Cate jry 1 Gnods, consultants services for ICS _ 0% 214 000000 0% Category 2 Su-grants for ICS 778 092,755 778 û92 755 100% 1.926,000,000 40% Total- roicet Dexpses778,692755 778,692,755 100/ 2,140,000,000 40% I11-a tu l isGy T-t,nr 111,1n tetraties ?vtd 1 se t itsr