Secretary, Ministry of Information & Communication Technology. Bangladesh Computer Council (BCC), Agargaon, Dhaka. I. We have audited the accompanying Financial Statement of the "Leveraging Information and Communications Technologies(ICT) fbr Growth, Enpoyrnent & Governance Project" financed by IDA under Credit No. 5025-1D as at 30th June, 2017 and for the year then ended,Preparation of the responsibility of management. Our responsibility is to express an opinion on the FS based on our audit. II. We have conducted our audit in accordance with International Standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the FS are free from material misstatement. An audit includes examining on a test basis, evidence supporting the amounts and disclosures in the FS. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall FS presentation. We believe that our audit provides a reasonable basis for our opinion. IlI.The results of our audit disclosed the following material aspects which affects the financial statement: i Total project expenditure excess shown Tk.161.32 lakh in Financial Statement resulting in expenditure was overstated and audit could not justify the genuineness of the expenditure. (Para- 01) IV. In our opinion, the Financial Statement gives a fair view, in all material aspects, of the financial position of "Leveraging Information and Communications Technologies (ICT) for Growth, Enployment & Governance Project" as on 30" June, 2017 and the results of its operations and cash flows for the year then ended in accordance with the cash basis of accounting followed by the Government of Bangladesh. V. Opinion Status: Qualified. (Kazi Zalmangir Ahmed) Deputy Director for Director General Foreign Aided Projects Audit Directorate. G:\lDA-LICT.doc 7 Leveraging ICT for Growth, Employnent & Governanice Project IDA (RPA) Credit Number 5025-BD Project Financial Statemnent 30th June 2017 Figu re in lac Particulars GOB Economic Notes Cuinulative Prior Current Peri-od Cumulative Code Period Crrrent Period Government of Bangladeslh 1 33.63 17.25 50.88 Loan from Development Pariner 2 22,484.56 6,067,89 28,552,45 Other resources 3 3.33 12.46 15.79 lInterest on RPA Bank Account 4 159.90 159.90 iCash and Bank oieni balance 5 - 1,849.77 Total Resources 22,68.42 7,947.37 28,779.02 Expenditure and Cash: Pay of officers 4500 19.78 8.25 Pay of Establishment 4600 - 0 54 0.54 Allowances of officers & staff 4700 13.99 6.21 20,20 Supplies & services 4800 7.40 7.40 Travel expenses 4801 l.55 3 95 5.51 Overtime 4805 0,18 0.18 Postage 4815 1.12 0,41 1,53 Telep charges 4816 0.96 1.00 L96 FTelex/Intem 4817 0.23 0.02 025 Registration Fee 4818 Water 4819 0.61 000 061 Electricity 4821 7.20 - 7 20 POL 4823 23.19 10.39 33.58 linsurance/Bank Charges 4824 12.65 2 83 15.49 Printing & Binding 4827 4.64 2.58 7 22 Stationlaery, seals & stamlps 4828 1 1S50 378 15.28 Books & periodicals 4831 2.02 - 2.02 Audio Video/Film Production 4832 0.73 - 0 73 Advertising and publicity 4833 52.63 11.47 64.10 Training expenses 4840 5,217.88 4,41 1.78 9,62966 sminlar, ConLrence etc . 4842 291.90 51.41 343 31 Enterlainment 4845 5.90 3.78 968 Labour wages 4851 0.01 - 001 Conlsultanlt 4874 6,137.84 1,717.58 7,855 42 Cleaning nd washng 4875 2.1 1,74 3.75 Legal Expenses 4882 - - Ho0neoraiiuin/Fees 4883 38.66 21.73 60.39 Computer consumables 4884 9.59 3.14 12.73 Hiring charges 4893 1.49 1.78 3.27 other expenses 4899 1i99 5.87 17.86 R&M Motor Velicles 4901 6M 4.06 10.50 R&M Furniture & Fixtures 4902 0>07 0.51 0.58 R&M Computer & Equipmnrt 4903 1.08 1.61 2.68 R&M Machmery & Equipment 4904 0.82 0.40 1.22 Otheriepair & miaitenance 4991 2.70 0.12 2.82 Orants for Training 5922 1,113.10 360.43 1,473.53 Motor velicle 6807 125,66 25.66 Computer & Accessoies 6815 7,369.79 253.14 7,622.93 Computer software 6817 41,66 4.84 46,50 Office equipment 6819 2019 - 20.19 Furniture & Fixtures 6821 125.12 0.06 125 18 Telecommuonication equipment 6823 1.60 1.60 B Interest Deposited to Govt A/e 145.78 - 145.78 Total Expenditure 20,831.67 6,895.38 27,727.06 ä ) Cash anid Bank lsngblnc ,897 1,05Lý99 1,051.99 Total Expenditure and Cash 22,681.44 7,947,37 28,779.05 \0ý, UROS_________it_______ 1.Yé~2-0 1Of, iu n akcnl8blmc ________ _____8897 ,1 ,19 Leveraging ICT for Growth, Employment & Governance Project IDA (RPA) Credit Number 5025-BD Notes to Project Financial Statement As on 30th June 2016 (BDnT in 1.c) IGOVERNMENT OF BANGLADESH Funds are allocated by the Government of Bangladesh (GOB) to cover GOB's share of eligible project expenditure, as specified in the Project Proforma and in the Annual Development Program. Contribution to the project by the GOB is as under: Inception to 30th For the year 2016-17 Cumulative Current June 2016 Period Disbursement by GoB 37.00 18.00 55.00 Less: Refund 3,37 0.75 4.12 Total BDT 33.63 17.25 50.88 2 LOAN FROM DEVELOPMENT PRTNER (IDA Credit No 5025-BD) The World Bank/IDA has agreed to provide funds to the Project to cover its share of eligible project expenditure in accordance with the Financing Agreement dated November 26, 2012. Cumulative Prior Current Period Cumulative Current Period Period Initial Deposit (Advance) 4,790.00 - 4,790,00 DPA (Direct Payment) RPA (SOE Procedure) PA (Non SOE Procedure) _ 17,694.56 6,067.89 23,762.45 Others .__........_Total BDT 22,484.56 6,067.89 28,552.45 3 OTtER RESOURCES Cumulative Prior Current Period Cumulative Current Period Period Temporary Loan from Bangladesh Computer Council (BCC) - Subsequently Refunded Schedule & Tender Forms sale Security Deposit/Adjustment 12.46 12.46 Total 12.46 12.46 4 INTEREST ON RPA Bank Account Cumulative Prior Cumulative Current Period ~ Current PeriodPril Period Period Gross interest credited by Janata Bank Ltd, UGC Branch, Dhaka on RPA (STD) Account Tax at source debited by the Bank Earned Interest deposited to BB Total 5 CASH and BANK Balances The details of cash and bank balances are as under: Cumulative Prior Current Period Cumulative Current Period Period Cash in hand 0.51 1.83 1.83 Advance to Bangladesh Computer Council. Refunded by Bangladesh Computer Council Operating Account RPA (Janata Bank Account No 0737) 1,848.51 1,045.81 1,045.81 Operating Account RPA (Janata Bank Account No 5849) Operating Account GOB iJanata Bank 5838) 0.75 4.36 4.36 Total 1,849.77 1,051.99 1,051.99 01. We have audited the special Account Statements of "Leveraging Information and Communications Technologies (ICT) for Growth, Enployrneni & Governance Project" financed by IDA under Credit No. 5025-BD, for the year ended 30"' June 2017. 02. Our audit was carried out following International Auditng Guidelines. Accorrdingly our audit our audit included such review of system of internal control, tests of accounting records and supporting documentation, verification of acccouting balances and other auditing procedures that we considererd necessary under the circumstamstances. 03. The accompanying Special account Statement was prepared on the basis of cash deposits and withdrals for the purpose of complying with the above Credit agreenment. 04. In our opinon, Initial advance made by IDA properly accounted for and withdrawals were made for the purpose of the peoject in accordance with the Credit Agreemnt. (Kazi Zahanir Ahmed) Deputy Director for Director General Foreign Aided Projects Audit Directorate. Tel:9362190 G:lDA-LICT.doc 27