AUDITOR'S REPORT Audit Completion Date: 25,03,2021. Secretary Power Division Ministry of Power, Energy and Mineral Resources Bangladesh Secretariat, Dhaka. We have audited the accompanying Financial Statement (FY 2019-20) of the "Siddhirganj 335 MW Combined Cycle Power Plant Project (3rd Revision)" financed by IDA under Credit No. 4508-BD & 5735-BD as of 301h June, 2020 and for the years then ended. According to ISSAI 2570 the preparation of Financial Statement is the responsibility of management. Our responsibility is to express an opinion on the financial statement based on our audit, (ISSAI-2700) We conducted our audit in accordance with INTOSAI Framework of Professional Pronouncements (IFPP), International Standards on Auditing (ISA) and practices of INTOSAI/SAI of Bangladesh. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the financial statement. An audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion, In our opinion and according to the statement of ISSAI 2700, the financial statement gives a true and fair view in all material respects of the financial position of "Siddhirganj 335 MW Combined Cycle Power Plant Project (3rd Revision)" as of 30th June 2020 and the result of its operation and cash flows for the year ended in accordance with the cash basis of accounting followed by the Government of Bangladesh. The Project accounts properly present the expenditure and receipts for the year ended at 2019-20. Opinion Status: Un-qualified. (Tasnim Ferdous) Deputy Director For Director General Foreign Aided Projects Audit Directorate Phone: 8391547 FINANCIAL STATEMENT AND NOTES Siddhirganj 335 MW Combined Cycle Power Plant Project Financial Statement 30th June, 2020 ( Figure in Lac Taka) Resources Notes Cumulative Current Cummulative Prior Period Period Current Period Government of Bangladesh 42,810.88 2,314.77 45,125.65 Loan from Development Partner 224,181.36 45,315.64 269,497.00 Other resources (ECCB) 2,157.44 471.91 2,629.35 Other resources (GOB) - Reimbursement from WB against Cash foreign 49,834.71 49,834.71 Exchange Cash opening balance Total Resources 318,984.39 48,102.32 367,086.71 Expenditure and Cash F Contractor (DPA) 206,043.55 40,888.83 246,932.38 2 Consultant (DPA) O&M-NTPC 4,783.51 34.73 4,818.24 3 Consultant (DPA)- Owner's Engineer 5,694.42 5,694.42 4 Individual Consultant (DPA) - 88.38 88.38 5 MIS ERP System Expert 46.76 46.76 6 MIS IT System Manager 98.73 32.26 130.99 7 MIS Assistant IT System Manager 48.26 11.11 59.37 8 MIS Business Process Analyst 11.75 11.75 9 MIS Infrastructure for MIS Phase-I 110.79 110.79 10 MIS Infrastructure for MIS Phase-2 153.06 153,06 11 MIS for EGCB (ERP & EAM) 2,279.80 3,918.58 6,198.38 12 Contractor (GoB) 4,180.46 4,180.46 13 Establistment (GoB) 14.19 14.19 14 Establistment (EGCB) Pay of officer's 695.57 97.31 792.88 15 Establistment (EGCB)Pay of Staffs 318.74 28.77 347,51 16 Establistinent (EGCB) Allowances 748.85 238.02 986.87 Establistment (EGCB) Repair, Maintence & 17 Reaiain92.27 4.41 96.68 lRehabilation 18 Establistment (EGCB) Supplies & Services 157,33 94.64 251.97 19 Car Purchase (EGCB) 144.68 8.76 153.44 20 Car Purchase (GoB) 69.26 69.26 21 L/C commission (GoB) 5,390.61 204.39 5,595.00 22 VAT (GoB) 3,736.33 5,098,75 8,835.08 23 Income Tax (GoB) 10,193.04 10,19304 Support to Implementing Agencies including 24 Construction of Primary School & other facilities 1,528.50 341.76 1,870.26 (Training) 25 Civil Works Non residential (GoB) 15.50 130.83 146.33 26 IDC (GoB) - - 27 CD / VAT (GoB) 21,518.72 (3,221,99) 18,296.73 28 Fuel For Initial Run (GoB) 1,075.00 102.79 1,177.79 29 Refund to GOB 49,834.71 49,834.71 Total Expenditure 318,984.39 48,102.32 367,086.71 Cash Closing Balance Imprest Account Operating Account (RPA) Operating Account (GoB) Operating Account (EGCB) - - Total Expenditure and Cash .0 . 318,984.39 48,102.32 367,086.71 Faiz AhrnedJ Audit & Accounts Otheer For n Aided Projects AkEr:o cai 7.. AutConiplex (6h & 1pr Floo- Segonbagchi Ohakai-1000 Siddhirganj 335 MW Combined Cycle Power Plant NOTES TO FINANCIAL STATEMENT 30th June '2020 1. GOVERNMENT OF BANGLADESH Fund are allocation by the Government of Bangladesh to cover GOB's share of eligible project expenditures, as specified in the Project Proforma and in the Annual Development Programme. GOB contribution to the project since inception are as follows (In Lakh Taka). Inception to 30th June For the year 2019- Inception to 30th June 2019 2020 2020 Disbursement by GOB 119,442.00 6,000.00 125,442.00 Less:- Refund to GOB 76,631.12 463.24 77,094.36 Less:- Refund to GOB (CD/VAT) 3,221.99 3,221.99 Total:- 42,810.88 2,314.77 45,125.65 2. LOAN FROM DEVELOPMENT PARTNER The IDA has provided funds to the project to cover it's share of eligible project expenditures. These funds, which must be repaid to World Bank (IDA) afier the conclusion of the project, Doner fund have been brawn by the project in accordance with the following withdrawal procedures (In Lakh Tk.) Inception to 30th June For the year 2019- Inception to 30th June 2019 2020 2020 Initial Deposit (Advance) DPA (Direct Payment) 224,181.36 45,315.64 269,497.00 RPA (SOE Procedure) - RPA (Non SOE Procedure) Reimbursement from WB Total 224,181.36 45,315.64 269,497.00 3. OTHER RESOURCES Other resources consist of the following Inception to 30th June For the year 2019- Inception to 30th June 2019 2020 2020 Project Expenses (EGCB) 2,157.44 471.91 2,629.35 Project Expenses (EGCB-lDC) - Exchange gains / Losses - - - Total 2,157.44 471.91 2,629.35 4, CASH The project maintains two bank account, an operating accounting, to hold ftinds advanced by EGCB maintained with Premier Bank Lt., Kawran Bazar Br. and an operating account to hold funds advanced by GOB maintained with Sonali Bank Lt., Kawran Bazar Br. the Sonali bank Ltd. Year end cash balances were as follows (In Lakh Taka) Inception to 30th June For the year 2019- Inception to 30th June 2019 2020 2020 Imnprest Account Operating Account (RPA) Operating Account (EGCB) Operating Account (GOB) Total Md.t7e\tteco c Audit~~~~ ~ &P Acor1o,b a 359I Cup1