Sichuan Provincial Audit Office of the People's Republic of China W%it Audit Report ) 'I* 4k C 2019J 22 - SICHUAN AUDIT REPORT C 2019] NO. 22 Project Name: Sichuan Wudu Irrigated Agriculture Development Project Financed by the World Bank 8122-CN Loan No.: 8122-CN Project Entity: Sichuan Province Wudu Water Conservancy and Hydropower Group Co., Ltd. 4t## : 2018 Accounting Year: 2018 目录 ContentS 一、审计师意见．.........................................................................................．……1 1 .Auditor&5 OPinion.,,,,,,，二，,.,,,,．……，,,，二，．……，…，.,，…，，…，,..........................．……，二，3 二、财务报表及财务报表附注．.................................................................．……6 11,Financial Statements and Notes to the Financial Statements二，.,.....．……，.．…6 （一）资金平衡表．.................．……，.．…，，二，,,,.,,.,.，二，.,,,,.,．…，，二，,,,.,.．…，.．…，.,,,.6 1 .Balance Sheet......................................................................................．……6 （二）项目进度表．.........................................．……，........．……，.....．……，.，……8 11.Summary of Sources and Uses ofFunds by Project Colnponent,.．…，,,．…8 （三）贷款协定执行情况表，.............................................................．……12 111 .statement of ImPlementation of Loan Agreement.........................．……12 （四）专用账户报表．.........................................................................．……14 iv.Special Account statement..............................................................．……14 （五）财务报表附注．..........................................．……，.,,,,.,,，……，.,.,...．……16 v.NotestotheFinancialStatements....................................................．……19 三、审计发现的问题及建议．.................．……，,.，二，，……，…，．……，,，…，,.........．……23 m .Audit Findings and Recommendations........................................．……，．……28 一、审计师意见 审计师意见 四夕l｝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弓｛水二期灌溉工程项目20 18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 22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 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。 （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 力】武都引水二期灌溉工程项目2018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四川省财政厅报送给世界银行的SCwY一19号至 scWY一21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。 中华人目J性奢和国四川省审计厅 20）毛，年一6月介日二认 、＿ 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 22) of the Sichuan Wudu Irrigated Agriculture Development Project Financed by the World Bank, which comprise the Balance Sheet as of December 3 1, 2018, 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 ftaud 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 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, 2018, 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.SCWY-19 to No.SCWY-21 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. Sichuan Provincial Audit Office of the People's Republic of China June 17, 2019 4 Address: No.15, Yong Xing Alley, Chengdu City, Sichuan Province, P.R. China Posteode: 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 - ) * *-NL *f' i. Balance Sheet BALANCE SHEET 2018 4- 12 F] 31 H (As of December 31, 2018) 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 iE ff YAt VJh ttA 4T & Application of Fund Line Beginning Ending Balance Sources of Fund ne Beginning Balance Ending Balance No BalanceNo 1 2,523,582,817.34 3,028,471,377.40 Total Project Appropriation 28 3,010,405,961.83 3,496,216,513 24 Total Project Expenditures Funds Fixed Ast Tr 2 - - Project Capital and Capital 29 -- Fixed Assets Transferred Surplus 2. ~fiFU Construction 3 M MVK 30 - Expenditures to be Including: Grants Disposed 3.i nete ts 4 - - ' 1 31 862,948,930.28 719,554,83136 Invetmens 4Total Project Loan Transferred-out 1. El 1F= 4. fEIess 5 2,523,582,817,34 3,028,471,377.40 Total Project Investment 32 862,948,930.28 719,554,831.36 Construction in Progress Loan Investment Loan 6 - - Fri L 33 470,079,365.45 602,554,831.36 ReceiableForeign Loan Receivable 7 A -V NF,f.XJ 34-- Including; WB Investment Including: IDA Loan Receivable Appropriation of 8 - - 35 470,079,365.45 602,554,831.36 Investment Loan Including Appropriation of 9 - - Technical 36 - WB Investment Loan Cooperation I' 10 - 37 -- Equipment Co- Financing Including Equipment 11 - - Domestic Loan :38 392,869,564.83 117,000,000,00 Losses in Suspense [ £ttiii t .ff 12 1,459,019,179,08 1,005,241,516,98 2. AilIh :39 - Total Cash and Bank Other Loan 1. .3 13 1,458,811,797,09 1,005,056,008.55 Appropriation of Investment 40 - Cash in Bank Loan Including: Special 14 61,988,283.04 65,131,633.62 including:B 11 - Account ( To be continued) Application of Fund Line Beginning Ending Balance Sources of Fund ne Beginning Balance Ending Balance No, Balance No._______ 2. ZU 15 207,381.99 15.508,43 42 - Cash on Hand Bond Fund Total Prepaid and 16 280,285,577.15 569,537,883, 11 Construction Expenditures to 43 - Receivables be Offset Including: World Bank Loan 17 -44 389,461,912.74 387,409,889.15 Interest Receivable World Bank Loan Commitment 18 - - Including:World Bank Loan 45 - Fee Receivable Interest Payable World Bank Loan Service-Fee 19 -World Bank Loan Commitment 46 - - Receivable Fee 20 -World Bank Loan Service Feel4 - Marketable Securities Payable A, Iti* fri+ 21 - 27,000,00 A t48 - Total Fixed Assets Other Payables 22 - 27,0000 ' E,& ?'i i1 49 - Fixed Assets, Cost Appropriation of Fund Lest Accumulated 23 - - 'etid Earnings 30 70,768.72 96,543.74 Depreciation 24 - 27,000,00 Fixed Assets, Net l Pz R I Fixed Assets Pending 25 - Disposal Fixed Assets Losses in 26 - - Suspense A p a F 27 4,262,887,573,57 4,603,277,777,49 51 4,262,887,573.57 4,603,277,777.49 Total Application of Fund 7Totl Sources of Fund , � о ' о й и t� м о оо N оо с7. 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Special Account Statement - ) w A, 41 A SPECIAL ACCOUNT STATEMENT *A a 12018 * 12 ] 31 H (For the period ended December 3 1, 20 18 *OV"J: 59 A T 9 TY1 0 Project Name: Sichuan Wudu Irrigated Depository Bank: China Construction Bank, Agriculture Development Project Financed by Chengdu the World Bank 8122-CN FK-57: 51014003800221001368 Loan No. 8 122-CN Account No.: 51014003800221001368 94K*4k: F9MVPffiff P FP * '- : A 5t Prepared by. The Finance Department of Currency: USD Sichuan Province Part A-Acciiunt Acfi ity for the Current Period Amount Beginning Balance 9,486,744.06 In 130 Add 15,956,913 62 *A10 15,853,647,26 Total Amount Deposited this Period by WB ,266.36 Total interest Earned this Period if Deposited in Special Account *;tJJ4--V63ZLU MZ- 2R TbndAru.. Refunded this Period to Cover hichgible Expenditures Q $ 7 15,853,677.26 Deduct: 15,S53,647.26 Total Amount Withdra, ft this Period *- IT +'Ll 1? E r fl. 0 1P 0 AR * P1 E ffi 30.00 Total Service Charges this Period if not Included in Above Amount Withdrawn lul *11 110 9,489,980,42 Ending Balance Jzf,- (Tobecontinued) 14 丰 15 （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，生效日期为2012年7月10日。 2018年5月29日，项目中期调整将关账日延长至2019年10月并调整了 项目实施监测与评价指标。 该工程主要任务为农业灌溉、城乡生活及工业供水。主要建设内容包 括武都水库直灌区取水工程、襼梓干渠、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．咒万亩。灌区骨干渠系包括金龙分干 渠、16条支渠及分支渠。 项目初步设计概算静态总投资人民币471,995万元，总投资人民币 491,365万元。中央预算内投资定额补助人民币204,700万元，由四川省 包干佼用、超支不补；利用国内银行贷款人民币1巧，470万元；其余投资 由四川省本级安排人民币59,300万元，绵阳市安排人民币76,475万元（含 利用世界银行贷款1亿粎元），遂宁市安排人民币19,540万元，广元市 安排人民币9,260万元，南充市安排人民币6,620万元；世界银行贷款本 息（费）由绵阳市负责偿还。 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 l6 账法记账，以人民币为记账本位币。 3.4按照中国人民银行2018年12月31日汇率，即USDI＝人民币 6 .8632元。 4．报表科目说明 4.1项目支出 2018年项目支出人民币504,888,5 60.06元，累计支出人民币 3,028,471,377.40元，占总投资计划的61.63％。 4.2货币资金 2018年12月31日货币资金余额为人民币1,005,241,5 16.98元，比上 年减少人民币453,777,662.10元，其中专用账户存款折合人民币 65,131,633.62元。 4.3预付及应收款 2018年12月31日余额为人民币569,537,883.11元，比上年增加人民 币289,252,305.96元，主要是预付项目工程款及征地搬迁费用。 4.4项目拨款 20 18年12月31日余额为人民币3,496,216,513.24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4,292,770,000,00元，截至20 18年12 月31日，中央、省、市、县到位资金人民币3,496,216,5 13 .24元，占计划 的81.44%，其中；中央计划配套资金总额人民币2,047,000,000.00元，累 计到位人民币2,017,000,000.00元，占计划的98.53%；省级计划配套资金 总额人民币593,000,000.00元，累计到位人民币593,000,000.00元，占计 划的100%；市级计划配套资金总额人民币300,618,80仓00元，累计到位 人民币309,564,816.00元，占计划的102乡8%；县级计划配套资金总额人 民币1,352,151,200.00元。累计到位576,321,697.24元，占计划的42.62％。 此外，绵阳市财政局拨外债管理工作经费人民币330,000,00元。 17 4.5项目借款 截至20 18年12月31日，项目发生借款折合人民币7 19,5 54,83 1 .36 兀。 项目国外借款截至20 18年12月31日折合人民币602,554,831.36元， 其中：绵阳市本级国外借款人民币304,816,555.51元；梓憧县国外借款人 民币89,607,988,07元；盐亭县国外借款人民币1 18,1 16,665.58元；江油市 国外借款人民币21,930,756.58元；专用账户余额人民币65,131,633.62元。 项目国内借款截至20 15年12月31日为人民币1 17,000,000.00元， 其中：绵阳市本级银行贷款人民币35,000,000.00元；江油市银行贷款人 民币62,000,000.00元；剑阁县银行贷款人民币20,000,000.00元。 4,6应付款 2018年12月31日余额为人民币3 87,409,889．巧元，主要是应付工程 款。 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。专用账户首次存款净额 9,919,988.58粎元。2018年度回补15,853,647.26美元，利息收入3,266.36 粎元，本年度支付巧，853,677.26美元，服务费支出30.00美元，年末余额 9,489,980.42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。 l8 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 July 10, 2012. The project closing date was extended to October, 2019 and the performance monitoring indicators results framework was adjusted during Project Mid-term Review on May 29, 2018. 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 project preliminary design estimated static total investment was RMB 4,719,950,000 yuan, and the total investment was RMB4,913,650,000.00 yuan. The central budget for investment was RNIB2,047,000,000.00 yuan which would be the total amount invested from Central Government to Sichuan Province and would not be supplemented by the Central Government if overspend. RN1131,154,700,000.00 yuan would be utilizing domestic bank loans. While for the remaining investment, Sichuan Province should arrange RM13593100000.00 yuan, Mianyang city should arrange RMB764,750,000.00 yuan (including the World Bank loan of I million US dollars), Suining City should arrange RMB195,400,000.00 yuan, Guangyuan City should arrange RMB92,600,000.00 yuan and Nanchong City should arrange RMB66,200,000.00 yuan. Mianyang City is responsible for repayment of the proceeds and interests of World Bank loan. 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(Caijizi[2000] 19 No.13), 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 1 to December 31. 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, 2018 of the People's Bank of China, which was USD1= RMB6.8632 yuan. 4. Explanation of Subjects 4.1 Total Project expenditures The project expenditure in 2018 was RMB504,888,560.06 yuan, and the cumulative expenditures were RMB3,028,471,377.40 yuan, which accounted for 61.63% of the total investment plan. 4.2 Cash and Bank On December 31, 2018, the balance was RMB1,005,241,516.98 yuan with a decrease of RMB453,777,662. 10 yuan compared with that of the last year, and the funds in Special Account were converted to RMB65,13 1,633.62 yuan. 4.3 Prepaid and Receivable Its balance on December 31, 2018 was RMIB569,537,883.11 yuan with a increase of RMB289,252,305.96 yuan compared with that of the last year, mainly including the prepayment to the construction of the project, land acquisition and relocation. 4.4 Project Appropriation Funds The balance on December 31, 2018 was RMB3,496,216,513.24 yuan, which were the counterpart funds allocated by all levels including the central, the province, the city and the county. The total planned counterpart funds of this project were RMB 4,292,770,000.00 yuan. By the end of 2018, RMB3,496,216,513.24 yuan of the counterpart funds had been allocated, which accounted for 81.44% of the plan. The total planned counterpart funds at the central level were RMB2,047,000,000.00 yuan and the actual cumulative allocated funds were 20 RMB2,017,000,000.00yuan, 98.53% of the plan; the total planned counterpart funds at the province level were RMB593,000,000.00 yuan and the actual cumulative allocated funds were RMB593,000,000.00 yuan, 100% of the plan; the total planned counterpart funds at the city level were RMB300,618,800.00 yuan and the actual cumulative allocated funds were RMB309,564,816.00 yuan, 102.98% of the plan; the total planned counterpart funds at the county level were RMIB,352,151,200.00 yuan and the actual cumulative allocated funds were RMB576,321,697.24 yuan, 42.62% of the plan. Apart from the above, a fund of RMB330,000 yuan has been appropriated by the Financial Department of Mianyang City for Foreign Debt Management. 4.5 Project Loan As of December 31, 2018, the project loan was RMB719,554,831.36 yuan. As of December 31, 2018, the foreign loan was RMB602,554,831.36 yuan, out of which, the foreign loan of Mianyang city was RMB304,816,555.51 yuan, that of Zitong county was RMB89,607,988.07 yuan, and that of Yanting county was RMB 118,116,665.58 yuan, and that of Jiangyou county was RMB21,930,756.58 yuan, and that of special account was RMB65,131,633.62 yuan. As of December 31, 2018, the project loan of domestic loan was RMB 17,000,000.00 yuan, out of which, the domestic loan of Mianyang city was RMB35,000,000.00 yuan, that of Jiangyou county was RMB62,000,000.00 yuan, that of Jiange county was RMB20,000,000.00 yuan. 4.6 Payable The balance on December 31, 2018 was RMB387,409,889.15 yuan, mainly including payable civil works for the completed constructions as of the end of the financial year. 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 USD9,919,988.58. In 2018, the reimbursement was USD15,853,647.26, the interest earned was USD3,266.36. In this year, the disbursement was USD 15,853,677.26 and the service charge was USD30.00. Thus, the ending balance of 2018 was USD9,486,744.06. 21 6. Other Explanation for the Financial Statements Due to foreign exchange gains and losses over the years, there are discrepancies between the beginning and ending balance of the Word World Bank loan in the Balance Sheet and the amount of current year' s withdrawals (disclosed in RMB) in the Statement of Implementation of Loan Agreement. 22