30 JUN 2016 Sichuan Provincial Audit Office of the People's Republic of China Audit Report )11Wk[R 4 2016) 166 - SICHUAN AUDIT REPORT C 2016) NO.166 Project Name: Sichuan Wudu Irrigated Agriculture Development Project Financed by the World Bank 8122-CN Loan No.: 8122-CN Proj ect Entity: Sichuan Province Wudu Water Conservancy and Hydropower Group Co., Ltd. 2015 Accounting Year: 2015 目录 Contents 一、审计师意见．.........................................................．························……1 1.Auditor&5 OPinion .............................................................................．……3 二、财务报表及财务报表附注二，.．…，.．…，……，．……，.............．……，.．…，.．…，,.6 11 .Financial Statements and Notes to the Financial Slatelllenis.........．……6 （一）资金平衡表．,.,.．…，.....．……，..............．·．．··，····················，····，·一6 1.Balanee Sheet ..............................................................................．……6 （二）项目进度表．..............．……，.............．……，.............．……，.....．……，.8 11.Summary of Sources and Uses ofFunds by Project Component.．…8 （三）贷款协定执行情况表．.....................................................．……H 111 .statement of Implementation ofLoanAgreement......．……，....．……11 （四）专用账户报表．.................................................................．……12 iv. Special Account statement,.............．……，................................．……12 （五）财务报表附注．.................................................................．……14 v.Notest0theFinancialStatements............................................．……17 三、审计发现的问题及建议．...........................................................．……21 m .Andit Find吨5 and Reco~endations ...............................．·········……24 一、审计师意见 审计师意见 四川省武都水利水电集团有限责任公司： 我们审计了世界银行贷款四川武都引水二期灌溉工程项目20巧年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6页至第 20页）。 （一）项目执行单位及四川省财政厅对财务报表的责任 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 表是你公司的责任，簖制专用账户报表是四川省财政厅的责任，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 i险当的审计程序，我们考虑了与财务报表相关的内部控制，但目的并非对 l 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。 （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四 ‘川武都引水二期灌溉工程项目20巧年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财政厅报送给世界银行的第硒，EQ006号至 WYEQ009号提款申请书及所附资料。我们认为，这些资料均符合贷款协 定的要求，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 。．”务报表附注和审计发“的问题及建议’厂屯一认 ／心之找’一＼ ’汾冷州 中华堵件和国叫月渺计厅 2&1眨鱼少乡日 地址：中国四川省成都市锦江区永兴巷15号 邮政簖码：610012 电话：86一028一86523693 传真：86一028一86523693 2 1. Auditor's Opinion Auditor's Opinion To Sichuan Province Wudu Water Conservancy and Hydropower Group Co., Ltd.: We have audited the special purpose financial statements (from page 6 to page 20) of the Sichuan Wudu Irrigated Agriculture Development Project Financed by the World Bank, which comprise the Balance Sheet as of December 31, 2015, the Summary of Sources and Uses of Funds by Project Component, the Statement of Implementation of Loan Agreement, the Special Account Statement for the year then ended and the Notes to the Financial Statements. The Responsibility of the Project Entity and Sichuan Provincial Financial Department for the Financial Statements The preparation of the Balance Sheet, the Summary of Sources and Uses of Funds by Project Component, the Statement of Implementation of Loan Agreement is the responsibility of your company, while the preparation of the Special Account Statement is the responsibility of the Financial Department of Sichuan Province, which includes: i. Preparing and fairly presenting the accompanying financial statements in accordance with China's 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 fmancial 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. 'fhose 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. 'fhe procedures selected depend on the auditor's judgment, including the assessment of the risks of 3 material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, in order to design appropriate audit procedures, the auditor considers internal control relevant to the entities' preparation and fair presentation of the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. The audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall 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, the financial statements identified in the first paragraph present fairly, in all material respects, financial position of the Sichuan Wudu Irrigated Agriculture Development Project Financed by the World Bank as of December 31, 2015, its financial receipts and disbursements, the project implementation and the receipts and disbursements of the special account for the year then ended in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement. Other Matters We also examined the withdrawal application from No.WYEQ006 to No.WYEQ009 and the attached documents submitted to the World Bank by the Financial Department of Sichuan Province during the period. In our opinion, all documents comply with the project loan 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. SidCnRU PVV;n01At Audit okc I* Jp.pcs RepWiPc f ehmnq Sichuan Provincial Audit Office of the People's Republic of China June 28, 2016 4 Address: No.15, Yong Xing Alley, Chengdu City, Sichuan Province, P.R. China Postcode: 610012 Tel.: 86-028-86523693 Fax: 86-028-86523693 The English translation is for the convenience of report users; Please take the Chinese audit report as the only official version. 5 II. Financial Statements and Notes to the Financial Statements i. Balance Sheet BALANCE SHEET 2015 * 12 )A 31 H (As of December 31, 2015) Project Name: Sichuan Wudu Irrigated Agriculture Development Project Financed by the World Bank Prepared by: Sichuan Province Wudu Water Conservancy and Hydropower Group Co., Ltd. Currency Unit: RMB yuan Adine lme Application of Fund me Beginning Balance Ending Balance Sources of Fund Line Beginning Balance Ending Balance ToA Pro Expeditures 1 759,474,492.86 1,171,616,687.12 Toa IProjc prriationFunda 28 1,246,850,000.00 1,562,803,936.00 1.3VM 7 2 'AL * 3A[ z& V 29 Fixed Assets Transferred Project Capital and Capital Surplus Construction Expenditures to be 3 30 Disposed tncluding: Grants 3.sstn Transferred-ot T - Po senftzC* tL 31 123,523,576.23 643,523,181.16 Invetmens TansfrredoutTotal Project Investment Loan 4. tEi inPge 5 759,474,492.86 1,171,616,687.12 o al re 32 123,523,576.23 643,523,181.16 Construction in Progress Total Project Investment Loan -' & '-&&Em 6 (1) W RA 33 123,523,576.23 193,513,181.16 Investment Loan Receivable Foreign Loan Including:World Bank Investment 7 Including: 34 Loan Receivable including: IDA =1 MfffMtfl n Appropriation of World Bank 3 35 123,523,576.23 193,513,181.16 Investment Loan m1n Including: Appropriation of World 9 Technical Cooperation 36 Bank Investment Loan UA ISiM 10 37 Equipment Co-Financing Including: Losses of Equipment in 11 Domestic Loa 38 450,010,000.00 Suspense TotalCasaudDn 12 317,348,329.71 915,001,861.41 39 Tota Cas andBankOthrLoan . V 13 317,301,124.52 914,961,498.29 Vpr peAtoMM a 40 Cash in Bank Appropriation of Investment Loan 4 14 48,977,948.48 51,994,026.50 41 Including: Special Account Including: World Bank Loan 2. nm n 15 47,205.19 40,363.12 nd 42 Cash on Hand Bn ud Total Prepaid and Receivable 16 421,751,820.48 338,4,893.2 Construction Expenditures to be Offset 43 A+ :t0kPzUV1 PJM--E IVUEi f Including: World Bank Loan 17 t P 44 128,201,066.82 218,722,786.09 Interest Receivable Total Payable World Bank Loan Commitment Fee 13 Including: World Bank Loan Interest 45 Receivable Payable )4 (Tobe continued) 6 Application of Fund e Beginning Balance Ending Balance Sources of Fund Lino Beginning Balance Ending Balance World Bank Loan Service-Fee 19 World Bank Loan Counmitment Fee 46 Receivable Payable Marketable Securities 20 World Bank Loan Service Fee 47 payable Al 21FA 7 A, 3 RM it 48 Total Fixed Assets Other Payables 22 P R22 49 Fixed Assets, Cost Appropriation of Funds A: Ef#tIfl 23 + EMMA 50 3,539.10 Less: Accumulated Depreciation Retained Earnings Fixed Assets, Net 24 ffj%fRiM 25 Fixed Assets Pending Disposal Fixed Assets Losses in Suspense TraalAppli nof Fud 27 1,498,574,643.05 2,425,053,442.35 Total Soce f Fund 51 1,498,574,643,05 2,425,053,442.35 7 」－·섬）.: cn OD m r- CD 00 L, oc C3ý ler Cý Cý w CD w w C> CD er C. In m C,ý LN ON Ch CD CD CN ýD 66 10 CJ CD w w C> CD CD CD c:ý c=ý cý, w CD CS 25 cr c5 C> CD CD C, Eli L1 FE dýE Å.4ý A r-ý C9 i '6 u Cil 01 一他9 －戸，，、一 M *#]*P#* iv. Special Account Statement * M SPECIAL ACCOUNT STATEMENT *JW,Al 2015 * 12 A 31 0 (For the period ended December 3 1, 2015 fT- VAT Project Name: Sichuan Wudu Irrigated Depository Bank: China Construction Bank, Agriculture Development Project Financed by Chengdu the World Bank 8122-CN 51014003800221001368 Loan No. 8122-CN Account No.: 51014003800221001368 44*4k: MMINtAF V fp # 4: A G Prepared by: The Finance Department of Currency: USD Sichuan Province PartA-AccountActivity for the Current Period Amount M U'IlNffi Beginning Balance 8,004,240.64 ilm ; Add: 9,613,711.37 Total Amount Deposited this Period by WB 2,754,14 Total Interest Earned this Period if Deposited in Special Account Total Amount Refunded this Period to Covew Ineligible Expenditures A T . Deduct: * IN - : f--t ' i 19 Total Amount Withdrawn this Period 14,583,34337 99 9 - E JCL419 rP M IR * #1 3 L.R 30.00 Total Service Charges this Period iftot Included inAbove Amount Withdrawn Ending Balance 3,037,332.78 (To be continued) 12 BE50t; A a*v~ Part B-Account Reconciliation Amount Amount Advanced by W3 8,000,000.00 Deduct: 2. tl fR A Total Amount Recovered by WB 3- *PMEtm#PWR&RAo Outstanding Amount Advanced to the Special Account at the End of this Period 8,000,000,00 Ending Balance ofSpecial Account 3,037,332.78 Add: 5. * Ei4R,96632.m Amount Claimed but not yet Credited at the End of this Period 4,969,632.00 Application No. 9 6. *MM WtMifA Amount Withdrawn but not yet Claimed at the End of this Period 7. ffa* t- il (1Eh 516ff ) 0.00 Cumulative Service Charges (If not Included in Item 5 or 6) 90.00 Deduct: 8. *J.84A (#Atl PMS) Interest Earned (If Included in Special Account) 7,054.78 9. UmM8,0M00.0 Total Advance to the Special Account Accounted for at the End of this Period 8,000,000.00 13 （五）财务报表附注 财务报表附注 1．项目概况 项目签字日期为2012年5月8日，项目生效日期为2012年8月8 日，项目终止日期2017年。该工程主要任务为农业灌溉、城乡生活及工 业供水。该项目主要建设内容包括武都水库直灌区取水工程、西梓干渠、 金峰囤蓄水库、灌区骨干渠系及配套建筑物等，设计灌溉面积105．犯万 亩。灌区骨干渠系包括金龙分干渠、16条支渠及分支渠。 项目计划总投资为人民币4,913,650,000元。总投资中，从中央预算 内投资中安排2,047,000,000元；利用国内银行贷款l,154,700,000元；其 余投资由四川省级安排593,000,000元，绵阳市安排764,750,000元（其中 世界银行贷款总额为1亿粎元，折合人民币680,000,000元），遂宁市安 排195,400,000元，幼元市安排92,600,000元，南充市安排66,200,000元。 2．财务报表编制范围 本财务报表的簖制范围包括四川省武都水利水电集团有限责任公司 提供的项目财务报表及四川省财政厅专用账户报表． 3．主要会计政策 3.1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）及国家会计准则、会计制度和本项目贷款协定 有关要求编制。 3.2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。 3.3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。 3.4按照中国人民银行2015年12月31日汇率，即USD卜人民币 6 .4936元。 l4 4服表科目说明 4.1项目支出 2015年项目支出人民币412,142,194.26元，累计支出人民币 l,171,616,687.12元，占总投资计划的24％。 4.2货币资金 2015年12月31日货币资金余额为人民币915,001,861.41元，比上年 增加人民币597,653,531 .70元，其中专用账户存款折合人民币 51,994,026.50元。 4.3预付及应收款 20 15年12月31日余额为人民币335,434,593.52元，主要是预付项目 工程款及征地搬迁费用。 4.4项目拨款 2015年12月31日余额为人民币1,562,503,936元，是中央、省、市 各级到位的配套资金。 项目计划配套资金总额人民币4,233,650,000元，其中计划利用国内 银行贷款人民币l，巧4,700,000元，中央、省、市、县配套资金人民币 3,078,950,000元。截至2015年12月31日，中央、省、市、县到位配套 资金人民币1,562,803,936元，占计划的51%，其中：中央计划配套资金 人民币2,047,000,000元，累计到位人民币967,000,000元，占计划的47%; 省级计划配套资金人民币593,000,000元，累计到位人民币579,000,000 元，占计划的98%；市级计划配套资金人民币84,750,000元，累计到位人 民币16,260,000元，占计划的19%；县级计划配套资金人民币3 54,200,000 元，累计到位人民币213,936元，占计划的0.06%；此外，绵阳市财政局 安排外债管理工作经费人民币330,000元。 4.5项目借款 截至2015年12月31日，项目发生借款折合人民币643,523,181.16 15 兀。 项目国外借款截至20 15年12月31日折合人民币1 93,5 13,1 8 1 .16元， 其中：绵阳市级国外借款人民币124,755,868.92元；梓渔县国外借款人民 币10,051,670.91元；盐亭县国外借款人民币6,752,367.01元；专用账户余 额人民币51,953,274.32元。 项目国内借款截至20 15年12月31日为人民币450,0 10,000元，其中： 绵阳市级银行贷款人民币105,000, 000元；梓渲县贷款人民币110,000元； 盐亭县贷款人民币90,000,000元；射洪县贷款人民币204,900,000元；南 部县贷款人民币50,000,000元。 4.6应付款 20 15年12月31日余额为人民币2 15,7 12,756.09元，主要是应付工程 款。 4.7留成收入 截至2015年12月31日余额为人民币3,539.10元，主要是银行存款 利息收入。 5．专用账户使用情况 本项目专用账户设在建行成都第三支行，账号为 5101一4003一8002一2100一1368，币种为美元。专用账户首次存款5,000,000 粎元。2015年年初余额s,004,240.64美元，本年度回补9,613,711.37美元， 8IJ息收入2,754.14粎元，本年度支付14,553,343.37美元，服务费支出30 粎元，年末余额3,037,332.78美元。 6．其他需要说明的问题 项目资金平衡表世界银行贷款期末数与期初数之差、项目进度表中相 应本期发生额与贷款协定执行情况表人民币本期提款数不一致是由于历 年汇兑损益造成的。 16 v. Notes to the Financial Statements Notes to the Financial Statements 1. Project overview The loan agreement was signed on May 8, 2012 and came into effect since August 8, 2012. The account of the project will be closed in 2017. The project includes drawing water construction of Wudu reservoir direct irrigation district, Xizi canal, Jinfeng hoard reservoirs, irrigation backbone trunk canals and other counterpart buildings. Design irrigation area was 1,053,200 acres. Irrigation canal system includes Jinlong canal, 16 branch canals and sub-branch canals. The total investment of the project was RMB4,913,650,000 yuan, wherein the central budget for investment was RMB1,940,000,000 yuan, the domestic bank loans were RMB1,1545700,000 yuan, and the remaining investment was arranged by Sichuan Province and various cities, among them, the fund from the province level was RMB593,000,000 yuan, that from the Mianyang city level was RMB764,750,,000 yuan including USD 100,000,000 loaned by the World Bank converting into RMB680,000,000 yuan, the Suining city level RMBI,195,400,000 yuan, the Guangyuan city level RNIB92,600,000 Yuan and the Nanchong city level RMB66,200,000 yuan. 2. Consolidation Scope of the Financial Statements Consolidation scope of the financial statements covers the financial statements of the Sichuan Wudu Irrigated Agriculture Development Project by the Sichuan Province Wudu Water Conservancy and Hydropower Group Co., Ltd. and the Special Account Statement set in the Financial Department of Sichuan Province. 3. Accounting Policies 3.1 The Financial Statements of the project were prepared according to the requirements of the Accounting Management Regulation of World Bank Loan Project by Ministry of Finance of the People's Republic of China, the Chinese accounting standards and regulations, the project loan agreement. 3.2 In accounting practice, the Gregorian calendar year is adopted as the fiscal year from January I to December 3 1. 17 3.3 The accrual basis and the debit/credit double entry bookkeeping method are adopted. RMB is used as the recording currency of bookkeeping. 3.4 The exchange rate adopted in the financial statements was the exchange rate on December 31, 2015 of the People's Bank of China, which was USD1= RMB6.4936 yuan. 4. Explanation of Subjects 4.1 Total Project expenditures The project expenditure in 2015 was RMB412,142,194.26 yuan, and the cumulative expenditures were RMBl,171,616,687.12 yuan, which accounted for 24% of the total investment plan. 4.2 Cash and Bank On December 31, 2015, the balance was RMB915,001,861.41 yuan with a decrease of RMB597,653,531.70 yuan compared with that of the last year, and in which the fund of special account was converted into RMIB51,994,026.50 yuan. 4.3 Prepaid and Receivable Its balance on December 31, 2015 was RMB338,434,893.82 yuan, mainly including the prepayment to the construction of the project, land acquisition and relocation. 4.4 Project Appropriation Funds The balance on December 31, 2015 was RMB1,562,803,936 yuan, which were the counterpart funds allocated by all levels including the central, province, the city and the county. The total planned counterpart funds of this project were RMB4,233,650,000 yuan, out of them, it is planned to use RMB 1,154,700,000 yuan of domestic bank loans, and planned to use RMB 3,078,950,000 yuan of the counterpart funds allocated by all levels including the central, the provincial, the city and the county levels. By the end of 2015, RMB1,562,803,936 yuan of the counterpart funds had been allocated, which accounted for 51% of the plan. The total planned counterpart funds at the central level were RMB2,047,000,000 yuan and the actual cumulative allocated funds were RMB967,000,000 yuan, 47% of the plan; the total planned counterpart funds at the province level were RMB593,000,000 yuan and the actual cumulative allocated funds were RMB579,000,000 yuan, 98% of the plan; the total 18 planned counterpart funds at the city level were RMB84,750,000 yuan and the actual cumulative allocated funds were RMB 16,260,000 yuan, 19% of the plan; the total planned counterpart funds at the county level were RMB354,200,000 yuan and the actual cumulative allocated funds were RMB213,936 yuan, 0.06% of the plan. Apart from the above, a fund of RMB330,000 yuan has been appropriated by the Financial Department of Sichuan Province for Foreign Debt Management. 4.5 Project Loan As of December 31, 2015, the project loan was RMB643,523,181.16 yuan. As of December 31, 2015, the foreign loan was RMB193,513,181.16 yuan, out of which, the foreign loan of Mianyang city was RMB124,755,868.92 yuan, that of Zitong county was RMB 10,051,670.91 yuan, and that of Yanting county was RMB6,752,367.01 yuan. As of December 31, 2015, the project loan of domestic loan was RMB450,010,000 yuan, out of which, the domestic loan of Mianyang city was RMB105,000,000 yuan, that of Zitong county was RMB110,000 yuan, that of Yanting county was90,000,000 yuan, that of Shehong county was RMB204,900,000 yuan and that of Nanbu county was RMB50,000,000 yuan. 4.6 Payable The balance on December 31, 2015 was RMB218,722,786.09 yuan, mainly including payable civil works for the completed constructions as of the end of the financial year. 4.7 Retained Earnings The balance on December 31, 2015 was RMB3,539.10 yuan, mainly interest earned of bank deposit. 5. Special Account The Special Account of this project is set in China Construction Bank, Chengdu, with the account number of 5101-4003-8002-2100-1368, and USD as currency Unit. The initial Deposit of the Special Account was USD5,000,000. In 2015, the beginning balance was USD8,004,240.64, the reimbursement was USD9,613,711.37, the interest earned was USD2,754.14. In this year, the disbursement was USD14,583,343.37 and the service charge was USD30. Thus, the ending balance of 2015 was USD3,037,332.78. 6.Other Explanation for the Financial Statements 19 Due to the change of foreign exchange rate, there are discrepancies between the beginning and ending balance of the Word World Bank loan in the Balance Sheet, the current year's loan received in the Summary of Sources and Uses of Funds by Project Component and the amount of current year's withdrawals (disclosed in RMB) in the Statement of Implementation of Loan Agreement. 20