M N s) Grievance Management at the Lowest level i.e. village is more consistent with the project needs for resettlements and compensations because it's at this level that all PAPs and PAPs' issues are better defined or clearer. Higher levels of grievance redress tend to lump PAP interests, which may end up in omissions or overlaps and ultimate wastage of time and resources. t) Procurement efficiency and effectiveness is to be maximized by monitoring variations in time and costs between planned and actual procurements. This is a good practice if it is adopted and strictly enforced by KCCA. u) Erection of Demarcation Pillars is very crucial for all the land that has been secured and PAPs paid to avoid community from we resettling into the roads' & drainages' reserves and attract double payment in future in case the reserves are needed for the expansion. A case in point is the failure to improve 900meters of the Lubigi channel were the PAP resettled in the already secured drainage reserves under KIIDP1 due o he failure of the institution to erect demarcation pillars for the road reserves. v) Adequately sized contract packages such as Batch 1 upgrade of road and junctions signalizing was attractive enough to attract well experienced and capable firms, which are usually international companies. Whereas hiring one contractor under Batch-I attracted an international and competent firm given the adequately sized contract package, it places the entire project at a high risk of stalling in the event that any issue arises with the contractor. Hiring more than one contractor spreads the risk of the project stalling. That explained the reason for having more contractors under batch 2 roads & drainages to minimize the risk of failure to implement the sub project. 5.2. Preparation of GKMA Urban Development Program As a successor project to KIIDP2, the Greater Kampala Urban Development Program has been prepared. Unlike KIIDP2 project which was financed under the Investment Project Financing (IPF) financing modality, the GKMA Urban Development Program is being financed under Performance for Results (PforR) financing modality. The project is supporting 8 Local Governments in the Greater Kampala and KCCA. The Total Municipal Development Grant (MDG) (for hardcore investment) is USD 510million and KCCA allocation under MDG is USD 127.58millions. The institutional Strengthening Grant (ISG) (for softcore activities) allocation for KCCA is USD 3.3millions. So the Total allocation for KCCA is USD 130.3millions. The preparatory activities.for the program are underway and the program is expected to commence in second half of FY 2023/24. The activities carried out so far include; preparation of the Investment menu, Institutional Strengthening Plan, designs for Markets, Roads and Nakivubo drainage channel. The Program was approved by Cabinate and Parliament of Uganda. 0. Financial Statements for the period of Twelve Months ended 30th June 2023 6.1. Statement of Project Management Responsibilities It is the responsibility of the Management to prepare financial statements which give a true and fair view of the state of affairs of the project as at 30th June 2023 and of its receipts and payments for that period. In preparing those statements, Management is required to: a) Select suitable Accounting Policies and apply them consistently. b) Make judgment and estimates that are reasonable and prudent. c) Comply with International Standards, local news, Statutes, World Bank/ IDA loan guidelines and regulations. Page 62 of 183 d) Prepare the financial statements on the Going Concern basis unless it is inappropriate to presume that the project will not continue in the near future. The Management is responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the project, and to ensure that the financial records comply with the funding agreements. The Management is also responsible for safeguarding the assets of the project and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Management confirms that in their opinion: a) The financial statements have been prepared in accordance with the International Public Sector Accounting Standard (IPSAS)-Modified accrual basis whereby cash/receipts are recognized when received and expenses are recognized when services are acquired/ consumed, and bills/invoices are received. b) The financial statements give a true and fair view of the financial position of the project as at 30th June 2023, and of its receipts and payments for twelve months' period then ended. c) The project receipts and disbursements were in accordance with the Funding Agreement/IDA Credit No.53840- UG. 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'� °' �� с � о о о - - - и а а � � ;= и i- � ►- � I � rn о о о rn � о � � о м сл сл � � � �л �л й т й й й °�° со0 С°р � О h t0 Ш дА � а М О О О М М � О О О � nj и rn ti ti � оо оо ~ � о ° о � � � ~ о ti о г°� ti �' и с� о с� г- � � � со сс .= - N Г °о � vм � омо rn � о и ао ° о т° � о°о й й й rn й � м и � N м м с° N �„� и й с� N �NN �. о� N� � � � � о о со �л со г�i ш с•� `n � � N о � о и с� м с� � � � ti � � � � и N о и оо и м о �д � N °° д� � ti о � й м � � й � � v сд c�i rn � ° � ^ ' � � ш и м , _ о с� �° � О 1� ti N и �t eF � � со со � о о N � � � rn о � � с,tOо со о 6f') СО N CD (�j N N г- о м с� с�? й й а`�о амо ° � � о° rn °о м � с� с� м � и •- и CO � � ti ti пi . .- .- � °� + , r, � ш с + , � N -� � огs � О � а '� �? ш � � � � � а д о а �- о с� � � ш о . о � � � г �? г � � ш � ш , и � й Q '� у Х О ш Z , v ш � о ш а v L а _ _ t� U J Q -� И U R f� �6 � а � Q �� � Е-° � � о О+ О`° ш � � N �- с� г 1 ■ � 6.1.2. statement of Budget Performance for a Period of Twelve months ended 30th June 2023 OPERATING REVENUE Notes ACTUAL BUDGET Balance carried forward from FY2021122 Ushs Ushs Operating Receipts 19,496,067,900 overnment of Uganda - GOU 6.1.1 World Bank - IDA Credit No. 53840 6.1.5 43,174,127,170 World Bank - Direct Payments 611 69,505,823,849 Total gamisheed off DA funds-refunded 6.1.1 Total garnish ed Off RAP funds-refunded 6.1,1 800,000,000 Total Opera Revenue 63,470,195,070 69,505,823,849 OPERA TING EXPENSES Component I - City Wide Infrastructure & Svs Devpt 6.1.1 (58,790,104,819) (69,155,823,849) Component 2 - Institutional Development 6.1.1 (309,190,089) (350,000,000) Total Expenditure - RAP 6.1.1 (809,136,270) Total Operating Expen(IILUre (59,908,431,177) (69,505,823,849) Excess Of Revenue over Expenditure from Operations 3,561,763,893 Foreign Exchange loss FY202212023 6.1.1 (1,341,859,157) Excess of Revenue over Expenditure for the year 2,219,904,736 These Financial Statements were signed on behalf of Kampala Capital City-,Authority by: Charles Moses Waibi Doro y Kisaka DIRECTOR TREASURY SERVICES "--_.._:7CUTIVE DIRECTOR, KCCA Date: ',/ -)- / I I Date: Page 68 of 183 6.1.3 Statement of Financial Position for a Period of Twelve months ended 30th June 2023 Notes 2023 2022 Current Assets Ushs Ushs Cash and Cash Equivalents 3.2.5 2,219,904,736 19,496,067,900 Receivables 6.2.6 2,685,758,211 12,922,393,057 Cumulative Foreign Exchange gain/(loss) Total Assets 4,905,662,947 32,418,460,957 Equity and Liabilities Cumulative Fund Cumulative Reserves (IDA) 6.2.10 8,148,814,151 98,523,450,863 Cumulative GOU Reserves (Escrow Account) 6.2.11 45,962,481,262 45,962,481,262 Cumulative Foreign Exchange gain/(loss) 6.2.12 5,172,094,910 6,513,954,067 Adjusted Expenditure 6.2.9 (64,368,729,724) (133,548,763,883) Cumulative Fund Balance (5,085,339,401) 17,451,122,309 Current Liabilities Creditors 6.2.14: 9,991,002,348 14,967,338,647 Total Equity and Liabilities 4,905,662,947 32,418,460,957 These Financial Statements were signed on behalf of Kampala Capital City Authority by: Charles Moses Waibi Doroiy Kisaka DIRECTOR TREASURY SERVICES EXECUTIVE DIRECTOR, KCCA Date: Ql I Date: ~ Page 69 of 183 I I ！님· l일…… 6.1.5. Statement of Cash flow (Direct Method) 2023 2022 OPERATING ACTIVITIES Ushs Ushs pOpening CashBalance as at 01 July, 2022 19,496,067,900 49,953,066,414 Cash Inflows: Government of Uganda - GOU 0 0 World Bank - IDA Credit No. 53840 43, 1 M,127,170 70,839,999,762 Refund of Garnishees 800,000,000 506,451,965 63,470,11-95,070 121,299,518,141 Cash Outflows: Expenses for the period 59,908,431,177 101,803,450,241 Subtotal 3,561,763,893 19,496,067,900 Foreign Exchange Loss/Gain (1,341,859,157) CHANGE IN CASH AND CASH EQUIVALENTS 2,219,904,736 19,496,067,900 Direct Payments on Account Closing Cash Balance as at 30 June, 2023 2,219,904,736 19,496,067,900 Balance 2,219,904,736 19,496,067,900 Page 71 of 183 6.2. Notes to the Accounts 6.2.0 Principal Accounting Policies The following accounting policies apply to the project. 6.2.1 Basis of Accounting The accounting currency of the project is the Uganda shilling. The Financial Statements of the project are prepared on a modified accrual basis and comply with International Public Sector Accounting Standards. Funds are recognized as receipts when they are received. Expenses are recognized when incurred and when the project has consumed the services and / or acquired the asset. Non-current assets are expensed on acquisition. 6.2.2 Project Accounts Transactions on the various project accounts are recognized and accounted for as follows; 6.2.2.1 Special Account - (Designated Account) This is denominated in United States Dollars. The account has so far received a total disbursement of $146,757,240.65. All receipts are based on future projections for Project spending. Payments out of the account are comprised of transfers to the Project Uganda Shillings account and dollar based expenditures. Payments are converted into Uganda shillings at the ruling exchange rate on the transaction date. 6.2.2.2 Project Account Receipts are comprised of transfers from the Special account and recognized when actual cash is received into the project account. Payments are comprised of the Uganda shilling project expenditures. 6.2.2.3 Escrow Account Receipts are comprised of transfers from GOU and are recognized when actual cash is received into the account. Payments are comprised of the Uganda shilling project expenditures related to compensations on the 'Resettlement Action Plan' (RAP). 6.2.3 Non-Current Assets All the property, plant and machinery acquired during the year are expensed through the source and use of funds statement 6.2.4 Foreign currency All transactions denominated in foreign currencies are converted at the spot exchange rate ruling at the date of the transaction. All project assets and liabilities denominated in foreign currency at the year-end are translated into Uganda shillings at the rate ruling at the year-end. All foreign currency exchange differences arising are accounted for through the source and use of funds statement. The ruling exchange rate as at 30th June 2022 was Ush3,672.13 for one US dollar and the Budget for the FY2022/2023 was translated at $1=Ush3,700. Page 72 of 183 6.2.5 Cash and cash Equivalents These are comprised of cash on bank accounts Notes 2023 2022 CASH AND CASH EQUIVALENTS Ushs Ushs These are comprised of cash on bank accounts Bank of Uganda Special Account - 6.2,7.1 2,004,867,712 2,887,444,045 003220088400002 Bank of Uganda Project Account - 003220088000006 6.2.7.2 188,189,197 16,572,639,758 Bank of Uganda Escrow Account - 6.2.7.3 26,787,827 35,924,097 003220088000004 Bank of Uganda Escrow2 Account - 6.2.7.4 - - 003220088000010 Project balances with the Treasury Single Account in 6.2.7.5 60,000 60,000 MoFPED TOTAL 2,219,904,736 19,496,067,900 6.2.6. Receivables 2023 2022 KCCA (Garnishees) 16,719,295 816,719,295 China Railway No.10 Engireering Co., Ltd 2,669,038,916 7,149,511,523 Energo projects-Tula Bulabira- 2,257,200,444 Jiangxi water Hydropower construction Co. Limited- 2,287,960,807 Stirling Sobetra Joint Venture-kisasi junction- 411,000,988 KCCA (Misprocurement & Claims)- 6,261,237,060 TOTAL 2,685,758,211 19,183,630,117 6.2.7 Cash Movements in the FY 2022-2023 Page 73 of 181 6.2.7.1 Special Account-003220088400002 USs$ UGX Balance b/f 809,512.00 2,887,444,045 Receipts from IDA 11,159,854.90 43,174,127,170 Exchange Gain/Loss on Account - (1,341,859,157) Transfer to Project Account Expenditure on Account (11,432,398.29) (42,714,844,346) Balance c/f 545,968.61 2,004,867,712 6.2.7.2. Project Account- 003220088000006 US $ UGX Balance b/f 4,705,442.62 16,572,708,359 Receipts from Special Account Exchange Gain on Account (42,897.69) Expenditure on Account (4,491,764.48) (16,384,450,563) Balance c/f 170,780.45 188,257,796 6.2.7.3. Escrow Account - 003220088000004 US $ UGX Balance b/f 9,543.24 35,924,097 Receipts from GOU Exchange Gain on Account (1,732.65) - Garnishee refund 216,216.22 800,000,000 Expenditure on Account (216,862.33) (809,136,270) Balance c/f 7,164.48 26,787,827 Page 74 of 183 6.2.7.4. Escrow2 Account - 003220088000010 Balance b/f Expenditure on Account. 6.2.7.5. Project balances with the Treasury Single Account in Ministry of Finance US $ UGX Balance b/f 26.00 60,000 Receipts from the Project Accounts . Exchange Gain/Loss on Account - Transfer to Project UGX Account Balance c/f 26.00 60,000 6.2.8. Performance The status of the project as at 30 June 2023 was as follows: Funding GOU (US$) IDA Total Project Funding 8,750,000.00 175,000,000.00 183,750,000.00 Amount Received 12,870,563.85 157,917,095.55 170,787,659.40 Balance (4,120,563.85) 17,082,904.45 12,962,340.60 6.2.9. Adjusted Expenditure Civil Works (Construction drainage works) 25,279,117,672 Consultancy Se-rvices (Supervision drainage) 1,004,682,206 CivlWorks (Cons truction -urban tr-affic-Batch2) Lot 8,541,035,401 Civil Works(C-onstruction urban traffic -Batch2) Lot2 2,145,753,005 Civil Works (Construction urban traffic -Batch2) Lot3 10,879,491,961 Consu ltancy Services (Supervision)-Batch2 1,967,216,939 Page 75 of 183 works for Kasubi Junction & Ttuba link 7,854,673,169 4,840,800,680 (5,400,000) 743,032,332 309,190,089 Subtotal 63,559,593,454 Compensation to 3rd parties - RAP 809,136,270 Total 64,368,729,724 6.2.10. Cumulative Loan Reserves (IDA) Current Assets as at FY21/22 32,418,460,957 Less: Cumulative Foreign Exchange gain/(loss) as at FY21/22 (6,513,954,067) Less: Current Liabilities as at FY21/22 (14,967,338,647) Cumulative Fund Balance 10,937,168,243 Less: Cumulative GOU Receipts as at'FY21/22 (45,962,481,262) Reserves (IDA) (35,025,313,019) Add: Receipts in the FY 2022/2023 43,174,127,170 Add: Direct payments in the FY 2022/2023 Cumulative Reserves (IDA) 8,148,814,151 6.2.11. Cumulative Reserves (GOU) Balance b/f 45,962,481,262 Receipts in the FY 2022/2023 Total 45,962,481,262 6.2.12. Cumulative Foreign Exchange Loss/Gain Foreign Exchange loss/ gain b/f 6,513,954,067 Foregn xchngelos in he Y 222/0231,341,859,157 Total7,855,813,224- Page 76 of 183 6.2.13. Adjusted Expenditure Total RAP expenditure in the FY 2022/2023 809,136,270 Total 809,136,270 6.2.14. Payables 2023 2022 China State Construction Engineering Co - 6,591,245,796 2,407,563,494 - 4,123,744,781 Energo Civil works for Kasubi Junction & Ttuba link 820,882,810 820,882,810 Stirling Civil works for Kisaasi Junction 994,485,001 994,485,001 Media Houses 3,963,000 3,963,000 University of Southern California 16,893,765 16,893,765 Wave Media Graphics Limited - 3,160,000 Vision Group of Companies - 5,400,000 Retention or Civil works - Drainage Lotl 4,040,044,746 - Retention on Civil works - Drainage Lot2 1,539,670,785 C.Lotti & Associati Sociata di Ingegneria SPA Lot2&3 780,006,726 C.Lotti & Associati Sociata di Ingegneria SPA Lot1 22,706,670 Summit Projekt Limited 12,795,501 BRL Ingenierie Association 743,032,332 Stirling Sobetra 826,622,314 Individual Consultants - Drainange 189,898,698 Total 9,991,002,348 14,967,338,647 Page 77 of 183