Shanxi Provincial Audit Office of the People's Republic of China Audit Report R# # (2018) 11 `T AUDIT REPORT (2018) NO. 11 Project Name: World Bank-Financed Changzhi Sustainable Urban Transport Project A k : 8130-CN Loan No.: 8130-CN Project Entity: Changzhi Urban Transport Project Management Center 2017 Accounting Year: 2017 Contents I. A uditor's O pinion ........................................................................................... 5 II. Financial Statements and Notes to the Financial Statements........................ 7 ( - ) ....................................................................................... 7 i. B alance Sh eet...........................................................................................7 ii. Summary of Sources and Uses of Funds by Project Component..........9 iii. Statement of Implementation of Loan Agreement.............................. 1 iv. Special Account Statement...................................................................12 v. Notes to the Financial Statements......................................................... 16 III. Auditor Findings and Recommendations................................................... 24 2 一、审计师意见 审计师意见 镼治市城市交通项目管理中心： 我们审计了你中心管理和实施的世界银行贷款山西长治城市交通可 持续发展项目2017年12月31日的资金平衡表及截至该日同年度的项目 进度表、贷款协定执行情况表和专用账户报表等特定目的财务报表及财务 报表附注（第7页至第19页）。 （一）项目执行单位对财务报表的责任 簖制上述财务报表中的资金平衡表、项目进度表及贷款协定执行情况 表是你中心的责任，这种责任包括： 1．按照中国的会计准则、会计制度和本项目贷款协定的要求编制项 目财务报表，并佼其实现公允反映； 2．设计、执行和维护必要的内部控制，以使项目财务报表不存在由 于舞弊或错误而导致的重大错报。 （二）审计责任 我们的责任是在执行审计工作的基础上对财务报表发表审计意见。我 们按照中国国家审计准则和国际审计准则的规定执行了审计工作，上述准 则要求我们遵守审计职业要求，计划和执行审计工作以对项目财务报表是 否不存在重大错报获取合理保证。 为获取有关财务报表金额和披露信息的有关证据，我们实施了必要的 审计程序。我们运用职业判断选择审计程序，这些程序包括对由于舞弊或 错误导致的财务报表重大错报风险的评估。在进行风险评估时，为了设计 恰当的审计程序，我们考虑了与财务报表相关的内部控制，但目的并非对 内部控制的有效性发表意见。审计工作还包括评价所选用会计政策的恰当 性和作出会计估计的合理性，以及评价财务报表的总体列报。 我们相信，我们获取的审计证据是适当的、充分的，为发表审计意见 提供了基础。 3 （三）审计意见 我们认为，第一段所列财务报表在所有重大方面按照中国的会计准 则、会计制度和本项目贷款协定的要求编制，公允反映了世界银行贷款山 襼镼治城市交通可持续发展项目2017年12月31日的财务状况及截至该 日同年度的财务收支、项目执行和专用账户收支情况。 （四）其他事项 我们审查了本期内由山襼省财政厅报送给世界银行的第SXOn号至 第SXO14号提款申请书及所附资料。我们认为，这些资料符合贷款协议的 要求，可以作为申请提款的依据。 本审计师意见之后，共同构成审计报告的还有两项内容：财务报表及 财务报表附注和审计发现的问题及建议。 厂丫二狱扩· 中华人；＿民共和国山西省审计厅 2018月6月28’日 一七儿汀一二－ 地址：中国山襼省太原市万柏林区滨河西路南段129号B座 邮政簖码：030024 电话：86一0351一3806182 传真：86一0351一3806182 4 1. Auditor's Opinion Auditor's Opinion To Changzhi Urban Transport Project Management Center: We have audited your World Bank loan program, Shanxi Changzhi Sustainable Urban Transport Project, the Balance Sheet and the Summary of Sources and Uses of Funds by Project Component and the Statements of Implementation of Loan (Grant) Agreement for the year then ended and the special account statements and other specific purposes of the financial statements and financial statements Note as of December 31, 2017.(from page 7 to page 19 ) Project Entity's Responsibility for the Financial Statements The preparation of the Balance Sheet, the Summary of Sources and Uses of Funds by Project Component and the Statements of Implementation of Loan (Grant) Agreement is the responsibility of your entity, which includes: i. Preparing and fair presenting the accompanying financial statements in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement; ii. Designing, implementing and maintaining necessary internal control to ensure that the financial statements are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Government Auditing Standards of the People's Republic of China and International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the financial statements 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. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates, as well as evaluating the overall 5 presentation of the financial statements. We believe that the audit evidence we have obtained is appropriate and sufficient to provide a basis for our audit opinion. Opinion In our opinion, all the significant respects in financial statements identified in the first paragraph are in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement; Fair reflects the world bank loans, Shanxi, Changzhi urban transportation sustainable development projects December 31, 2017, financial situation and financial revenues and expenditures, project performance and special account revenues and expenditures for the year then ended. Other Matter We also examined the withdrawal application No.SX011 to No.SX014 with the attached documents submitted to World Bank from The Finance Department of Shanxi Province during the period. In our opinion, those documents comply with the project loan (grant) agreement and can serve as basis for loan withdrawal. The audit report consists of the Auditor's Opinion and two more parts hereinafter: Financial Statements and Notes to the Financial Statements, Audit Findings and Recommendations. Shanxi Provincial Audit Office of the People's Republic of China June 28, 2018 Address: Building B, No. 129, South Section, Binhexi Road, Taiyuan, Shanxi Province, P. R. China Postcode: 030024 Tel.: 86-0351-3806182 Fax: 86-0351-3806182 The English translation is for the convenience of report users; Please take the Chinese audit report as the only official version. 6 II. Financial Statements and Notes to the Financial Statements i Balance Sheet BALANCE SHEET 2017 - 12 A 3 1 (As of December 31, 2017) Project Name: World Bank-Financed Changzhi Sustainable Urban Transport Project Entity Name: Changzhi Urban Transport Project Management Center Currency Unit: RMB Yuan Application of Fund Line No Beginning Balance Ending Balance -, t ) T1: -i-f Total Project Expenditures 1 815,538,124.59 970,030,874.05 1, Z{M}fl ,V Fixed Assets Transferred 2 2, 3M IzlA Construction Expenditures to 3 be Disposed 3, $# # j Investments Transferred-out 4 4, a8T Construction in Progress 5 815,538,124.59 970,030,874.05 {M1S E Investment Loan 6 Receivable Including World Bank Investment Loan Receivable H. fr 0 & Appropriation of 8 Investment Loan 4V:Nf 2 'T Including Appropriation of World Bank Investment Loan V7, 5V4 Equipment 10 A fsL : A 9 ft -,- Including: Equipment II Losses in Suspense E. i Total Cash and Bank 12 46,339,565.15 112,550,348.24 1 Cash in Bank 13 46,339,565.15 112,550,348.24 :, Including: Special Account 14 31,019,358.02 39,409,305.21 2J$A Cash on Hand 15 ' Total Prepaid and 16 17,710,970.43 14,682,141.99 Receivable ArP: Rqkft ,' ],' , Including World Bank 17 Loan Interest Receivable T4± ft IT * 10 World Bank Loan 18 Commitment Fee Receivable _ tkif 4 V k fJ r World Bank Loan 19 Service-Fee Receivable -L, I11iiEA Marketable Securities 20 A, i Total Fixed Assets 21 Vil 5 F Fixed Assets, Cost 22 A: gitif IH Less: Accumulated Depreciation 23 P Fixed Assets, Net 24 I$1 i Disposal of Fixed Assets 25 VT 9,- Fixed Assets 26 Losses in Suspense rMA 1ti Total Application of Fund 27 879,588,660.17 1,097,263,364.28 7 资金平衡表（续） BALANCE SHEET(Continued) 20 17年12月31日 (As of Dece.nber 31,2017) 项目名称：世界银行贷款山襼长治城市交通可持续发展项目 ProjectName:WorldBank一FinancedChangzhiSustainableUrbanTransportPrOject 簖报单位：镼治市城市又通项目管理中心 Entity Name:cllangzhi urban伽nspo性Project Manage.nent Center货币单位：人民币元 军 8 о о о о о о о о о о о о о о о � е о о_ о � о о � � 7 0�0 О�О � О 1� М оИ Со0 N � - � к U %' '� - � U -Г1�. 7 О д� О с� � W N�� � � о V 1�+I � � � -}� и ai � .�,,, с � � �"fi �� � т � � � �+�й � .ц т � ° U � т G О ��( д=� .° .���. � е� .� � -и- � _ и а � � j т+{ о " V �II 'б �uR и � � � д � � ���Н � � ,�L, � � U п � о � V F � �в : У1 � _ � � N ' , \ � � � �`// � � � ` 3 с � (� � дj ^ ' � � V - (у О � с` � У 'H1I� ��Л � О С/1 � с�а .� � о �-°. °� ? 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Special Account Statement _f M t P -1 A SPECIAL ACCOUNT STATEMENT *4 R _4 2017 * 12 A 31 0 (For the period Ended 12/31/2017) Project Name: World Bank-Financed Changzhi Depository Bank: Shanxi branch, bank of Sustainable Urban Transport Project communications 8130-CN Yk-T: 141000601146376688878 Loan No. 8 130-CN Account No. 141000601146376688878 A V * t : Lb _ff i Pt 0 r V lr # 0,-' : A _G Prepared by: The Finance Department of Shanxi Currency: USD Province A-n3 : PartA-AccountActiv4 for the Period *t) (Amount) Beginning balance (month/day/year) 116HP Add: 4,471,581.09 Total amount deposited byADB 23 241,893.20 3,217.31 Total interest earned this period if deposited in Special Account 0.00 Total amount refunded to cover ineligible expenditures 'f Deduct: Mj, 44, M'O Total amount withdrawn 21,685 415.15 *PAA -t_] M&A44 'A, WRY,-V i it! 40.00 Total service charges if not included in above amount withdrawn Ending balance (month/day/year) 6,03 1 236.45 B- .1 ftl )& P A V Part B-Account Reconciliation ), (Amount) 1, Amountadvanced byADB 10,000,000.00 i7u ,11 Deduct: 2, Total amount recovered byADB 0.00 3, 10,000,000.00 Outstanding amount advanced to the Special Account at month/day/year 4, 6 031,236.45 Ending balance of Special Account at month/day/ycar k , R Add; 5, 3,987,663.85 Amount claimed but not yet credited at month/day/year Ep i:ul * `-" R 1VO Application No. Amount 6, 0.00 Amount withdrawn but not yet clairned 7, flq-Y- _M 11 i 5 4H 6 P) 100.00 Cumulative service charges (if not included in itern 5- or 6-) Aw 1 Deduct: 8, 19,000.30 Interest earned (if included in Special Account) 9, J fflr).Kfh 10,0007000.00 Total advance to Special Account accounted for at month/day/year 12 （五）财务报表附注 财务报表附注 1．基本情况 2013年底镼治市世行贷款管理中心与长治市城市交通项目管理 中心合并为镼治市世行贷款管理中心（长治市城市交通项目管理中 心），内设综合管理科、工程管理一科、工程管理二科、招标采购科、 计划财务科及监督评审科六个部门，编制人数29人，在编24人。 2．项目概况 世行贷款镼治市城市交通可持续发展项目贷款号8130一CN，该项 目旨在改善镼治市城市交通机动化水平，为全市人民创建一个安全、 高效、节能的出行环境。本项目内容包括四部分：一体化公交走廊改 善；城市交通智能管理系统；公共交通基础设施建设；机构能力建设。 项目协议书于2012年7月10日签订，2012年S月24日生效，2018 年12月31日关账。项目计划总投资为人民币1,257,175,500.00元， 其中世界银行贷款总额为1亿粎元，折合人民币为630,000,000.00 元；国内配套资金为627,175,500元。 3．财务报表编制范围 本财务报表的簖制范围为镼治市城市交通项目管理中心、长治币 财政本项目专户及省财政厅专用帐户报表。 4．主要会计政策 4.1本项目财务报表按照财政部《世界银行贷款项目会计核算 办法》财际字〔2000)13号）的要求编制。 4.2会计核算年度采用公历年制，即公历每年1月1日至12月 31日。 4.3本项目会计核算以“权责发生制”作为记账原则，采用借 贷复式记账法记账，以人民币为记账本位币。 l3 4.4按照中国人民银行2017年12月31日汇率，即USDI＝人民 币6 .5342元。 5．报表科目说明 5.1项目支出 2017年期初数为815538124.59元，2017年项目支出人民币 154492749.46元，累计支出人民币97003087性．05元，占总投资计划 的77.16％。 5.2货币资金 2017年12月31日货币资金余额为人民币112550348.24元，其 中专用账户存款折合人民币39409305.21元。 5.3预付及应收款 2017年12月31日余额为人民币14682141.99元，为工程预付 款及预付农民工工资保证金。 5.4项目拨款 2017年12月31日余额为人民币587116233.04元，全部拨入长 治市财政局本项目专户。 5.5项目借款 2017年12月31日余额为人民币366144814.8元，其中：世界 银行贷款额为56035140.46粎元，折合人民币366144814.8元，国内 银行借款人民币O元。 截至2017年12月31日，累计提取世界银行资金56035140.46 粎元，占贷款总额的56.04％。其中：工程累计提款2334541 1.41美 元，货物咨询等累计提款22436729.05美元，先征费累计提款 250,000.00粎元（2012年发生），备用金累计提款10,000,000.00美 元（2013年发生）。 5.6应付款 2017年12月31日余额为人民币143724261.98元，主要为工程质保 金，应付工程款。 14 5.7留成收入 2017年12月31日余额为人民币278054.46元。 5.8汇兑损益 2017年度汇兑损益合计为一15615110.98元。国外借款一土建科 目调汇产生的汇兑损益为一8567374.86元，国外借款一货物、咨询服 务和培训科目调汇产生的汇兑损益为一6871894.40元，国外借款一 先征费科目调汇产生的汇兑损益为一100700.00元，国外借款一专用 账户科目调汇产生的汇兑损益为一4028000.00元，银行存款一省财厅 专户调汇产生的汇兑损益为3952858.28元。 6．专用账户使用情况 本项目专用账户设在交通银行山西省分行，账号为 141000601146376658878，币种为美元。专用账户首次存款 10,000,000.00粎元。2017年年初余额4471581.09美元，本年度回 补23241893.2粎元，利息收入3217.31美元，本年度支付21685415.15 粎元，本期未包括支付额中的服务费支出40美元，期末余额 6031236.45美元。 7．其他需要说明的事项 项目资金平衡表中银行存款余额为1125503吐8.24元，其中山西 省财政厅本项目专户存款余额39409305.21元，长治市财政本项目专 户银行存款余额65392039.53元，华夏银行专户余额为7749003.5元。 l5 v. Notes to the Financial Statements Notes to the Financial Statements 1. Basic Information In late 2013, Changzhi World Bank loan Management Center and Changzhi Urban Transport Project Management Center have been amalgamated into Changzhi World Bank loan Management Center,( Changzhi Urban Transport Project Management Center) which consists of six departments: General Management Department, Engineering Management One Department, Engineering Management Two Department, Bidding and Purchasing Department, Planning Finance Department and Supervision and Evaluation Department. The authorized staff size is 29, and there are 24 registered staffs. 2. Project Overview The Loan No. of Changzhi Sustainable Urban Transport Project is 8130-CN. The project aims to improve urban transport mobility and creates a safe, efficient and energy-saving traveling environment for all users in the main city of Changzhi. The project consists of four components (a) Integrated corridor improvement; (b) Intelligent urban transport management system; (c) Public transport infrastructure; (d) Institutional capacity building. The Project Agreement was signed on July 10, 2012, and came into effect on August 24, 2012. The account will be closed on December 31, 2018. The total investment plan is CNY 1,257,175,500, among which the World Bank loan amount is USD 100 million, which is equivalent to CNY 630,000,000, and the counterpart fund is CNY 627,175,500. 3. Consolidation Scope of the Financial Statements The consolidation scope of the financial statements covers financial statements of Special Accounts set respectively for Changzhi Urban Transport Project Management Center, Changzhi Municipal Management Bureau, and Financial Bureaus at both municipal and provincial level. 4. Principal Accounting, Policies 4.1 The financial statements of the project were prepared according to the requirement of Accounting Methods for World Bank Financed Project (Caijizi (2000) No.13). 16 4.2 In accounting practice, the Gregorian Calendar Year is adopted as the fiscal year from January 1 to December 31. 4.3 The accruals basis and debit/credit double-entry bookkeeping method are adopted. RMB is used as the recording currency of bookkeeping. 4.4 The exchange rate adopted in the financial statements was the exchange rate on December 31, 2017, of the People's Bank of China, which was USD1=CNY 6.5342. 5. Explanation of Subjects 5.1 Total Project Expenditures Project expenditures of 2017 amounted to CNY 815,538,124.59, the accumulated expenditure is CNY 154,492,749.46, with a total expenditure of CNY 970,030,874.05, which accounted for 77.16% of the investment plan. 5.2 Monetary Fund The balance on December 31, 2017, was CNY 112,550,348.24, the deposits in the special account were converted to CNY 39,409,305.21. 5.3 Prepaid and Receivable Fund The Prepaid and Receivable Fund on December 31, 2017, was CNY 14,682,141.99, comprising advanced payment and security deposit for migrant workers' salary 5.4 Appropriate Fund The Appropriate Fund on December 31, 2017, was CNY 587,116,233.04, all allocated to the project special account of Changzhi City Finance Bureau. 5.5 Project Loan The Project Loan on December 31, 2017, was CNY 366,144,814.8, of which the World Bank loan amount was USD 56,035,140.46, equivalent to CNY 366,144,814.8, and the domestic bank loans were 0. Up to December 31, 2017, USD 56,035,140.46 was accumulatively withdrawn from World Bank loan, accounting for 56.04% of the total loan amount. It includes accumulative withdrawal of USD 23,348,411.41 for 17 civil works, USD 22,436,729.05 for goods and consultation, USD 250,000 as front-end fee (occurred in 2012) and USD 10,000,000 dollars as petty cash withdrawn accumulatively (occurred in 2013). 5.6 Payable: The Payable on December 31, 2017, was CNY 143,724,261.98, mainly for project warranty security and project payables. 5.7 Retained Earnings The Retained Earnings on December 31, 2017, was CNY278,054.46. 5.8 Exchange gains and losses The exchange gains and losses in 2017 were CNY -15,615,110.98. The exchange gains and loss of external borrowing for the civil construction project were CNY -8,567,374.86. The exchange gains and loss of external borrowing for the goods, consultation service, and training courses were CNY -6,871,894.40. The exchange gains and loss of external borrowing for the prepaid items were CNY -100,700.00. The exchange gains and loss of external borrowing for the specified account were CNY -4,028,000.00. The exchange gains and loss of the deposit in the bank for the specified account of the department of finance were CNY -3,952,858.28. 6. Special Account The special account of the project is set in Shanxi Branch of Bank of Communications, with the account number of 141000601146376688878 and USD Dollar as currency. The initial deposit in this special account was USD 10,000,000. The balance at the beginning of 2017 was USD 4,471,581.09. The reimbursement for this year was USD 23,241,893.2 with earned interest of USD 3,217.31. The disbursement of this year was USD 21,685,415.15, and the service charge for this current period was USD 40, which not include the amount payment. Thus, the ending balance was USD 6,031,236.45. 7. Other Explanations for the Financial Statements The remaining sum in the project balance sheet was CNY 112,550,348.24, among which the balance in the special account of Shanxi Finance Department for the project was CNY 39,409,305.21, the balance in the special account of Changzhi Municipal Financial Bureau for the project 18 was CNY 65,392,039.53, and the balance in the special account set in Hua Xia bank Co., Ltd. was CNY 7,749,003.5. 19