Project Credit No. IDA-6269 Global Financing Facility TFOA 7516 Tinsy House, Opposite Adamawa State House of Assembly Army Barracks Road, Jimeta, Yola, Adamawa State. Tel: +234(0)7036942635, +234(0)8174480554 www.ahmedbawaandco.com Page |1 CONTENT Corporate Information…………………………………………2 Auditors Report………..…………………………………………3 Statement of Source and Use of Fund…………………….7 Statement of Income and Expenditure…………………..8 Statement of Financial Position…………………………….9 Statement of Use of Fund…………………………………….10 Notes to Project Financial Statements……………………11 Statement of Accounting Policies………………………….17 Appendices………………………………………………………….20 Page |2 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE CORPORATE INFORMATION STATE MANAGEMENT STAFF Suleiman Mamman Project Coordinator Umar Aliyu Jada Procurement Officer Garba Baba Contact Management Officer Ronas A. Amusa Nutrition Officer Mohammed Jingi Usman Monitoring & Evaluation Officer Mohammed S. Abubakar Project Accountant Abubakar M. Saje Project Internal Auditor Bome Aaron Samutar Information Officer Sallau Malami Mobilization Officer Murtala B. Abdussalam Assistant P.A Jummare HB Galadima Assistant P.A Bayu Bappah Elnafaty Cashier Bashar Abubakar Assistant S.M.O BANKERS First Bank Plc Union Bank Plc AUDITORS Ahmed Bawa & Co (Chartered Accountants) Tinsy House, Ground Floor. Gibson Jalo Rd. Opp Adamawa House of Assembly, Jimeta-Yola. Page |3 INDEPENDENT AUDITOR'S REPORT TO THE PROJECT UNIT OF GOMBE STATE ACCELERATING NUTRITION RESULTS IN NIGERIA FOR THE 12 MONTHS PERIOD ENDED 31ST DECEMBER 2021 Opinion We have audited the accompanying financial statements of the Project Unit of Gombe State Accelerating Nutrition Results in Nigeria as at December 31, 2021 and for the period then ended, which comprise the Statement of Sources and Uses of Funds, Statement of Income and Expenditure, Statement of Use of Fund, Statement of Financial position and the Notes to the Project Financial Statements including the summary of significant accounting policies and Appendices. The financial statements have been prepared by the Project Implementing Unit based on financial reporting provisions of the International Public Sector Accounting Standard-Cash Basis and the Financing agreement. In our opinion; a) The accompanying the Statement of Sources and Uses of Funds, Statement of Income and Expenditure, Statement of Use of Fund, Statement of Financial position and the Notes to the Project Financial Statements including the summary of significant accounting policies and Appendices present fairly, in all material respects, the state of affairs of the Project and for the period then ended in accordance with the provisions of the International Public Sector Accounting Standard-Cash Basis and the Financing Agreement. b) World Bank financing has been used in accordance with the conditions of the relevant financing agreement for the purposes for which the financing was provided. c) Government Commitment Funds (GCF) have been provided and used in accordance with the relevant financing agreements for the purposes for which they were provided; d) Goods, works and services financed have been procured in accordance with the relevant financing agreements and provisions of the World Bank Procurement Policies and Procedures, e) Training/workshops/study tour expenditures, where incurred, have been in compliance with the established policy and there is value for money; Page |4 f) Designated Accounts have been maintained in accordance with the provisions of the financing agreements and funds disbursed out of the Accounts were used only for the purpose intended in the financing agreement. g) National laws and regulations have been complied with, and the financial and accounting procedures approved for the project were followed and used; h) Assets procured from project funds exist and there is verifiable ownership by the implementing agency in line with the financing agreement; and, Basis of Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs) and International Standards of Supreme Audit Institutions (ISSAIs). Our responsibilities under those standards are further described in the "Auditor's Responsibilities for the Audit of the Financial Statements" section of this report. We are independent of the Project Implementation Unit within the meaning of "IFAC Code of Ethics for Professional Accountants" and ethical requirements and have fulfilled our other responsibilities under those ethical requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Emphasis of Matter in the Financial Statement Without modifying our opinion, we draw attention to Notes to the financial statements, which describe the basis of accounting. The financial statements are prepared to assist the Project implementation Unit to comply with the financial reporting provisions of the agreement referred to above. As a result, the financial statements may not be suitable for another purpose. Going Concern The Project's financial statements have not been prepared using the going concern basis of accounting. The project will be completed by December 2023. Page |5 Responsibilities of Management and Those Charged with Governance or other appropriate terms for the Financial Statements Project implementation Unit is responsible for the preparation and fair presentation of these financial statements in accordance to the provisions of the International Public Sector Accounting Standard-Cash Basis and the Financing Agreement, and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Those charged with governance are responsible for overseeing the Project implementation Unit financial reporting process. Auditor's Responsibilities for the Audit of the Financial Statements The objectives of our audit are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs 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 financial statements. As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional scepticism throughout the planning and performance of the audit. We also: Identify and assess the risks of material misstatement 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. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. Page |6 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 achieves fair presentation. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We are also required to provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguar ds. Ahmed Bawa & Co Yola, Nigeria. (Chartered Accountants) 14/3/2022. Engagement Partner: Ahmed Bawa Bello FCA FRC/2018/ICAN/00000018402 Page |7 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE STATEMENT OF SOURCE AND USE OF FUND FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 2021 Notes (Current Year) (Previous Year) (Cummulative) ₦ ₦ ₦ RECEIPTS Advance: IDA Credit - 252,036,345 252,036,345 Direct Payment: IDA Credit 574,849,278 - 574,849,278 State Government Contribution 35,000,000 75,666,000 110,666,000 Miscellanous Receipts 400 - 400 TOTAL RECEIPTS 609,849,678 327,702,345 937,552,023 EXPENDITURE BY COMPONENT - Basic Package Of Nutrition Services 1 644,881,168 27,152,869 672,034,037 Stewardship And Project Management 2 52,503,850 93,134,910 145,638,761 Project Asset Aquired 3 500,000 5,652,227 6,152,227 TOTAL EXPENDITURE 697,885,019 125,940,006 823,825,025 RECEIPT LESS EXPENDITURE (88,035,341) 201,762,339 113,726,998 Add: Exchange Rate Difference 15,765,291 9,990,898 25,756,189 Add: Unretired Advances And Unremitted Taxes - - - 15,765,291 9,990,898 25,756,189 NET CHANGE IN CASH (72,270,050) 211,753,237 139,483,187 Opening Balance 4 236,212,075 24,458,837.50 24,458,837.50 Closing Balance 4 163,942,025 236,212,075 163,942,025 Exchange rate as at 31st December 2020 = N412.70:$ 1 Project Coordinator …………………………. Project Accountant…………………………… Page |8 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED 31 DECEMBER 2021 2021 2020 2021 Notes (Current Year) (Previous Year) (Cummulative) ₦ ₦ ₦ INCOME Advance: IDA Credit - 252,036,345 252,036,345 Direct Payment: IDA Credit 574,849,278 - 574,849,278 State Government Contribution 35,000,000 75,666,000 110,666,000 Miscellaneous Income 400 - 400 609,849,678 327,702,345 937,552,023 EXPENDITURE Basic Package of Nutrition Services 1 644,881,168 27,152,869 672,034,037 Stewardship And Project Management 2 52,503,850 93,134,910 145,638,761 Project Asset Aquired 4 500,000 5,652,227 6,152,227 697,885,019 125,940,006 823,825,025 Exchange Rate Difference 15,765,291 9,990,898 25,756,189 SURPLUS/DEFICIT Cash Surplus for the year (72,270,050) 211,753,237 139,483,187 Page |9 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE STATEMENT OF FINANCIAL POSITION AS 31 DECEMBER 2021 2021 2020 Notes ₦ ₦ ASSET Cash and Bank Balances 4 163,942,025 236,212,075 Cash Advance - - Debtors - - 163,942,025 236,212,075 EQUITY/LIABILITIES Project Fund 163,942,025 236,212,074.89 Accruals - - Creditors - - Deductions - - 163,942,025 236,212,075 P a g e | 10 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE STATEMENT OF USE OF FUND BY COMPONENET FOR THE YEAR ENDED 31 DECEMBER 2021 2020 2021 2021 (Previous Year) (Cummulative) Planned Actual Variance Planned Actual Variance Planned Actual Variance BASIC PACKAGE OF NUTRITION SERVICES - BPNS DLI 3: Evidence Of New Knowledge For Nutrition And Adolescent Health Results 7,292,210 7,292,210 BPNS DLI 4: Service Delivery Through Non-State Actors For Improved Nutrition Outcomes 602,872,583 BPNS DLI 5: Service Delivery Through Primary Health Centers For Improved Nutrition And Health Outcomes 8,129,559 1,332,500 9,462,059 BPNS Goods 25,921,035 1,141,231 27,062,266 BPNS Operating Costs - 4,268,408 4,268,408 SAM Goods - 372,000 372,000 SAM Operating Costs 227,500 20,038,730 20,266,230 SBCC DLI 5: Service Delivery Through Primary Health Centers For Improved Nutrition And Health Outcomes 438,282 - 438,282 - 644,881,168 - - 27,152,869 - - 69,161,454 - STEWARDSHIP AND PROJECT MANAGEMENT Project Lunch - 922,100 - 955,000 1,877,100 Engagement Of Specialist - 4,414,320 - 3,650,000 8,064,320 Bank Charges - 24,503 - 40,020 64,523 Office Stationeries - 312,960 - 1,066,445 1,379,405 Computer Consumables - - - 745,000 745,000 Office Rent - 7,500,000 - - 7,500,000 Building (Major Repairs) - - - - - Maintenance of Office Building - - - 2,969,700 2,969,700 Maintenance of Plants/Generators - 40,000 - 7,195,500 7,235,500 Maintenance of Office/IT Equipments - 205,000 - 2,995,790 3,200,790 Security Services/Casual Staff Allowance - 4,780,000 - 2,980,500 7,760,500 Cleaning & Fumigation Services - - - 2,397,200 2,397,200 Fuelling Cost - 280,000 - 205,060 485,060 Publicity and Advertisement - 410,522 - 263,000 673,522 Utility Charges - 482,100 - 926,100 1,408,200 Travelling Expenses - 17,695,060 - 28,297,478 45,992,538 Supervision And Mission - 4,051,600 - 11,598,676 15,650,276 Service of Meeting - 2,454,900 - 3,367,000 5,821,900 PFMU Contribution - 5,614,186 - 5,413,950 11,028,136 Office Manager Allowance - - - 9,550,750 9,550,750 Telephone Charges - - - 391,500 391,500 Local Training - 1,756,600 - 150,000 1,906,600 International Training - - - 2,653,238 2,653,238 Rp Training/Workshop - - - 368,000 368,000 Other Operating Expenses - 1,560,000 - 1,000,000 2,560,000 Contriution To Other Govt Agencies - - - 3,955,003 3,955,003 - 52,503,850 - - 93,134,910 - - 145,638,761 - TOTAL EXPENDITURE - 697,385,019 - - 120,287,779 - - 214,800,215 - P a g e | 11 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE NOTES TO THE PROJECT FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 CONT’D 1 BASIC PACKAGE OF NUTRITION SERVICES 2021 2020 ₦ ₦ BPNS DLI 3: Evidence Of New Knowledge For Nutrition And Adolescent Health Results 7,292,210 - BPNS DLI 4: Service Delivery Through Non-State Actors For Improved Nutrition Outcomes 602,872,583 - BPNS DLI 5: Service Delivery Through Primary Health Centers For Improved Nutrition And Health Outcomes 8,129,559 1,332,500 BPNS Goods 25,921,035 1,141,231 BPNS Operating Costs - 4,268,408 SAM Goods 372,000 SAM Operating Costs 227,500 20,038,730 SBCC DLI 5: Service Delivery Through Primary Health Centers For Improved Nutrition And Health Outcomes 438,282 - 644,881,168 27,152,869 P a g e | 12 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE NOTES TO THE PROJECT FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 CONT’D 2 STEWARDSHIP AND PROJECT MANAGEMENT 2021 2020 ₦ ₦ Project Lunch 922,100 955,000 Engagement Of Specialist 4,414,320 3,650,000 Bank Charges 24,503 40,020 Office Stationeries 312,960 1,066,445 Computer Consumables - 745,000 Office Rent 7,500,000 - Building (Major Repairs) - - Maintenance of Office Building - 2,969,700 Maintenance of Plants/Generators 40,000 7,195,500 Maintenance of Office/IT Equipments 205,000 2,995,790 Security Services/Casual Staff Allowance 4,780,000 2,980,500 Cleaning & Fumigation Services - 2,397,200 Fuelling Cost 280,000 205,060 Publicity and Advertisement 410,522 263,000 Utility Charges 482,100 926,100 Travelling Expenses 17,695,060 28,297,478 Supervision And Mission 4,051,600 11,598,676 Service of Meeting 2,454,900 3,367,000 PFMU Contribution 5,614,186 5,413,950 Office Manager Allowance - 9,550,750 Telephone Charges - 391,500 Local Training 1,756,600 150,000 International Training - 2,653,238 Rp Training/Workshop - 368,000 Staff Advances - - Other Operating Expenses 1,560,000 1,000,000 Contriution To Other Govt Agencies - 3,955,003 52,503,850 93,134,910 P a g e | 13 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE NOTES TO THE PROJECT FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 CONT’D 3 CASH AND BANK BALANCES 2021 2020 ₦ ₦ Designated Account (Input) 111,288,587 190,000,000 Designated Account (DLI) 12,231,813 36,902,887 Bank Bal:State Government Contribution Account (None TSA) 18,100,755 499,288 State Government Contribution Account (None TSA)-1 29,664 29,664 Draw-Down Account (SPIU) 174,525 5,230,927 Draw-Down Account (NPHCDA) - - Draw-Down Account (SPCDA) 22,116,680 3,549,310 163,942,025 236,212,075 4 PROJECT FUND 2021 2020 ₦ ₦ Balance at the beginning 236,212,075 24,458,838 Surplus/Deficit for the year (72,270,050) 211,753,237 Closing Balance 163,942,025 236,212,075 P a g e | 14 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE NOTES TO THE PROJECT FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 CONT’D 5 Property, Plants and Equipment (PPE) Office Furnitures, Office Furniture & Plant & Fittings & Equipment Fittings Machinery Computer Equip. Total ? ? ? ? ? Cost: At 1st January, 2021 7,385,813 3,340,514 90,000 - 10,816,327 Additions during the Year 500,000 500,000 Disposals during the Year - - - - - Asset Loss - - - - - At 31st December, 2021 7,885,813 3,340,514 90,000 - 11,316,327 P a g e | 15 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE NOTES TO THE PROJECT FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 CONT’D GENERAL INFORMATION ANRiN consists of two core components: Component 1 focuses on the delivery a set of core nutrition interventions within project States, through performance-based contracts with non-State actors working in communities, and through Disbursement Linked Indicators (DLIs) to incentivize delivery of nutrition sensitive antenatal care for pregnant women through public primary health care centers. Component 2 focuses on critical stewardship functions at Federal level including: deployment of Social and Behaviour Change Communication (SBCC) interventions; driving multi-sectoral accountability for nutrition results; coordinating research, knowledge management and learning; and establishing and maintaining nutritional information systems. ANRIN is result based and leverages performance-based service delivery of quality and cost-effective nutrition interventions targeting the first 1000 days of life through state and non-state actors and additionally through Disbursed Linked Indicators (DLI). Non-state actors are recruited for the delivery of a Basic Package of Nutrition Services and Primary Healthcare Centres are incentivized to deliver a basic package of Nutrition-Sensitive Antenatal Care. Payments for both results rely on robust Management Information Systems and Third-Party Verification. DLIs are also monetized results, which when are independently verified as achieved, trigger disbursement of allocated financing to the Government. The Federal level entities are expected to deliver DLIs 1-3 on Social and Behaviour Change Communication, Generation of Evidence and New Knowledge for Nutrition and Multi-Sectoral Coordination and Accountability. States will deliver DLIs 4-6 on Management of Performance Based Contracts, Multi-Stakeholder Coordination and Service Delivery through public health facilities. The verification exercises embedded enhance value for money utilized. ANRiN financing to States include the following major funding sources: i. 97% Credit (World Bank/International Development Association) and 3% Grant (Global Financial Facility) which are paid to implement approved credit/grant work plan a total of $232 million ii. Government Commitment fund (GCF) of fifty million (NGN50,000,000.00) per year to implement approved state work plan P a g e | 16 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE NOTES TO THE PROJECT FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 CONT’D The project’s Financial Management obligations include the submission of semesterly Interim Financial Reports covering funds from all sources and Quarterly Submission of Internal Audit Reports. Each implementing entity is also under obligation for the conduct of an annual audit that assesses the use of funds, internal controls, adherence to policies and guidelines and compliance with industry, World Bank and Government of Nigeria standards for Financial Management. P a g e | 17 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE NOTES TO THE PROJECT FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 CONT’D Statement of Accounting Practices and Policies This section summarizes the recommended accounting practices and policies to be adopted by the Project. The procedures by which the policies are implemented are contained in the relevant sections of the manual. Responsibility for Accounting Policies The Head of the PFMU/FPFMD, the Project Internal Auditor and the External Auditors may recommend accounting policies to a particular PIU/PMU management for approval, depending on the nature of the Project being undertaken. However, the implementation of accounting policies shall be the responsibility of the Head of PFMU/FPFMD and the designated project accountant. The Accounting Systems The State PFMU/FPFMD Accounting Systems shall be based on a rational combination of Accounting Policies and Practices best suited to report the financial affairs of the projects implemented in the State. The policies and practices are generally in conformity with generally accepted accounting principles namely: Consistency - Accounting policies set forth below will be applied consistently from one accounting period to another, and within accounting period, except when there is a special reason to depart from such policies. However, such reason(s) will be fully disclosed in the Project’s Financial Statements. P a g e | 18 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE NOTES TO THE PROJECT FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 CONT’D Prudence - Adequate restraint will be exercised in the determination of Income to be included in the Income and Expenditure Account and that all known costs and liabilities are charged in relevant period accounts with due regard to the accounting basis. Cash Accounting - Income and charges relating to a specific financial year will be taken into account only when the related cash are received or paid. Accounting Policies The following are the significant accounting policies to be followed in recording transactions and in reporting the results of operations and financial position of the Project. Accounting Convention The accounts are to be prepared under the historical cost convention. Basis of Accounting The cash basis shall be adopted in the preparation of Project’s Financial Statements. Fixed Assets and Depreciation (a) Fixed Assets are those intended for use over a period exceeding one accounting year and whose value per unit is not below N100,000. (b) Items with respective unit costs below N100,000 are classified as “Special Project Assets” and included in a Special Project Assets Register. (c) In applying the capitalization policy, all related (landed) costs and installation costs are included in the acquisition cost of the fixed asset item. (d) Capital expenditure on contract works will be included on the basis of valuation certificates including retention; (e) No Depreciation is charged on the project’s fixed assets as there are no revenues to be matched against such charges and because the cash basis of accounts is in effect. P a g e | 19 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE NOTES TO THE PROJECT FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2021 CONT’D Inventory Inventory is valued at the lower of cost and net realizable value. Debtors Debtors are stated after making specific provision for debts considered doubtful of recovery. Foreign Currency Income and Expenditure items in foreign currencies are converted to Naira at the rates ruling on the transaction dates. Assets and Liabilities expressed in foreign currencies are converted to Naira at the rates ruling at the balance sheet date and gains or losses on such conversions are credited or charged to reserve in the period which they arise. Exchange rate as at 31st December 2020 = N412.70:$ 1 P a g e | 20 APPENDICES P a g e | 21 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE SUMMARY OF ACTIVITIES IN DESIGNATED ACCOUNT- 0110947090(DLI) FOR THE YEAR ENDED 31 DECEMBER 2021 DESIGNATED ACCOUNT (DLI) 0110947090 PART 1 $ $ 1 Cumulative Advances to the end of Current Period (including transfer) 510,766 2 Cumulative Expenditure to the end of last reporting period 241,106 3 Outstanding Advances to be accounted for (line 1 minus line 2) 269,660 PART II 4 Opening Special Account at the beginning of reporting period 500,000 5 Add/Subtract: Cumulative Adjustments (if any) - 6 Advances from Worldbank during the reporting period (including transfer) 10,766 7 Add lines 5 and 6 10,766 8 Outstanding Advances to be accounted for (add lines 4 and 7) 510,766 9 Closing Special Account Balance at end of reporting period 269,660 10 Add/Subtract: Cumulative Adjustments (if any) - 11 Expenditure for current reporting period (including transfers) 241,106 12 Add lines 10 and 11 241,106 13 Add lines 9 and 12 510,766 14 Difference if any (line 8 minus line 13) - P a g e | 22 ACCELERATING NUTRITION RESULTS IN NIGERIA, GOMBE STATE SUMMARY OF ACTIVITIES IN DESIGNATED ACCOUNT- 0110977314(INPUT) FOR THE YEAR ENDED 31 DECEMBER 2021 DESIGNATED ACCOUNT (INPUT) 0110977314 PART 1 $ $ 1 Cumulative Advances to the end of Current Period (Including transfer) 788,647 2 Cumulative Expenditure to the end of last reporting period(including transfers) 250,542 3 Outstanding Advances to be accounted for (line 1 minus line 2) 538,105 PART II 4 Opening Special Account at the beginning of reporting period 97,113 5 Add/Subtract: Cumulative Adjustments (if any) - 6 Advances from Worldbank during the reporting period - Interbank Transfers 91,534 7 Add lines 5 and 6 91,534 8 Outstanding Advances to be accounted for (add lines 4 and 7) 188,647 9 Closing Special Account Balance at end of reporting period 29,639 10 Add/Subtract: Cumulative Adjustments (if any) - 11 Expenditure for current reporting period (including transfers) 159,008 12 Add lines 10 and 11 159,008 13 Add lines 9 and 12 188,647 14 Difference if any (line 8 minus line 13) - P a g e | 23