U SECONDARY EDUCATION AND GIRL ACCESS PROJECT SANAA - REPUBLIC OF YEMEN U U U I U SECONDARY EDUCATION U AND GIRL ACCESS PROJECT SANA'A - REPUBLIC OF YEMEN U SOURCES & USES OF FUNDS AS OF DECEMBER 31, 2015 I U U U U U U U I SECONDARY EDUCATION AND GIRL ACCESS PROJECT SANA'A - REPUBLIC OF YEMEN I I I I CONTENTS PAGE I 1. Audit report on the sources and uses of funds for the project as of December 31, 2015 Page 1, 2 2. Sources and Uses of Funds for the project as of December 31. 2015. P. 3 3. Notes to the financial statements (1) to (19). P. 4-18 I I I I I I I CHARTERED ACCOUNTS OFFICE ABDUL-HAKlM A.H.AL-IRYANY CHARTERED ACCOUNTS FIRMS OF SC.INTERNATIONAL License No.(187) Your Ref ara-.ye Our Ref :us t Date: Independent Auditor's Report To :The Management SECONDARY EDUCATION AND GIRL ACCESS PROJECT SANA'A - Yemen Introduction: We have audited the list of sources and uses of funds for the Secondary Education and Girl Access Project (Credit No. 4401- YEM, Dutch grant No.TF 94223, German Development Bank Grant No. (200 765 404) and the British grant No. (88,550.011) and fuinded by the International Development Association. KfW and the Yereni government, and implement by the Ministry of Education and the Public Works project as at 31 December 2015, and a summary of significant accounting policies and notes to the year ended on that date. Manapgemefnt's responsibility for financial statements. The project management is responsible for the preparation of financial statements and fair presentation in accordance with international standards for financial reporting. (and in the light of the provisions of the applicable related laws and regulations of Yemen). This responsibility includes the design. implementation, and maintain for the preparation of internal control and presentation of financial statements free of material misstatement. whether it was due to fraud or error, selecting and applying appropriate and reasonable action accounting estimates accounting policies under the circumstances. The rpoibl oth auitor: aOur responsibility is to express an opinion on these financial statements based on our audit. It ha& the audit process in accordance with International Standards, on Auditing, which require us to comply with the requirements of professional ethics, and plan and conduct the audit to obtain reasonable assurance about whether the financial statements of the project are free of material misstatement. An adit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. and based procedures that have been identified and followed at our discretion, including our assessment of the risks of material misstatement in the financial statements for the project. whether due to fraud or mistakes. when our assessment of these risks we are taking into account of their internal control systems, the S preparation and presentation of financial statements present fairly in order to design appropriate audit accounting policies used and the reasonableness of accounting estimates made by management procedures. and the integrity of the overall presentation of the financial statements. We believe that the audit evidence we have obtained is SUffiCient and appropriate to express 3 an opinion on the financial statements. Head Off-ice:Sania'a-4fel:274801-422-369-73306482 Yrr;TMT ~¾T A :.Za-.~:4l~t P.O.Box: I 1389-Cable"Muhasaba"-Fax:967-1-270211 A YvYTVI - T t -W Ue :iz L-A'IwT *Branchies:Al-Ho)deidahi-TeL.:7"74040O525 -P,O.Box( )Y -LL Taiz-Tel.:777551800 -P,O.Box( )YYYi4lI I-mal kIm?44t0 hotmial.om CHARTERED ACCOUNTS OFFICE ABDUL-HAKIM A.HAL-IRIANYL ADtIO1J M4S--J CHARTERED ACCOUNTS JU FIRMS OF SC.INTERNATIONAL - License No.187 ) (~-bA9 Your Ref: 4ny Our Ref: Date: U The Opinion : In our opinion, the statement of sources and uses of funds with complementary with the explanations presented fairly, in all materi al respects the financial position of the Secondary e ationject for the inancial year ended 31 December 2015 in accordance with international standards for financial reporting policies and procedures followed by the project management Addition: We have obtained all the information and explanations which we considered necessary for the purposes of the audit and the project holds books of accounts electronically operated regularly U as the attached data are consistent with what is contained in that notebook s. Also. all expenses from the designated account enhanced documentation adequate and appropriate project and retains a pro documentation for applications submitted to the Designated Account for the payment of expenses U Abdul Hakim Abdul 1 a 1 Accountant May 25, 20116 Sana'a - ROY U I I Head Otfice:Sana'rel:274801-422369-733064882 VTV tAAY t)-TVtA PRO.Box. I 1389-Cable"Muiasaba"-Fax:967-1-270211 V -wV 0 0A-sy *Braniches:.Al-Hodeidahi-Tel.-77i4040)525 -P.O.Box( )) -vel- - Taiz-Tel.:777551800 -P.O.Box( 2 y ). ).LA- L nll kim744 honmal-coi I SECONDARY EDUCATION AND GIRL ACCESS PROJECT IDA Credit No. 4401 YEMEN Dutch Grant No. TFo94223 UK Grant No. 188550011 KfW Grant No. 200765404 Sana'a , ROY Sources & Uses of Funds As of December 3142015 Accumulated During the Year Accumulated 0 31/Dec/14 2015 31/Dec/15 Particular Amount Amount Amount US D S DS D Sources of Funds IDA Credit No. 4401 YEMEN (3) 16,330.511 2,794.978 19,125,489 Dutch Grant No. TFo94223 (4) 6,615,000 - 6,615,000 UK Grant No. 188550011 (5) 2,336,871 - 2.336.871 KfW Grant No. 200765404 (6) 8,732,565 427,954 9.160,519 German Technical Support (GIZ) (7) 3,000,000 - 3,000,000 Government Contribution (8) 5,604,162 - 5.604.162 Others (9) 399,636 (397,821) 1,815 Total Sources of Fund 43,018,744 2,825,111 45,843,856 DEDUCT: USES OF FUNDS Goods (10) 3,758,188 3,585,835 7,344,023 Civil Works (I1) 23,301,858 1,066,519 24,368,377 Consultancy Services (12) 4,809,531 238,696 5,048,227 Training (13) 2,832,670 278,436 3.111.105 Community Grants (14) 3,870,455 (6,502) 3.863.953 Project Operational Cost (15) 1,805.657 112,745 1.918.402 3 Ex-Change Differnecies 5,589 - 5,589 Total Uses of Funds 40,383,948 5,275,728 45,659,676 Surplus Sources for Uses 2,634.796 (2,450,617) 184.179 Add: Opening Balance - 2,634.796 Closing Balance (16) 2,634,796 184,179 184,179 The accompanying notes f m (1-19) form an integr art oft is statement. Chief A c t Fin cial a ager Pr j \ -Y 3 k--L I NSECONDARY E DUCATIO01N -ANDGIRL-ACCESS PROJECT 3 SAAA-RPBLCO Yl--MEN, Notes to the financial statements as of December 31,2015* 1: ProJect Background: A. IncoIrporation and activities: - N ILACS Project Title SECONDARY EDUCATION AND GIRL ACCESS PROJECT Project Period About six ears Date of approval 1/03/2008 Signing Date une 6,2008 Expeted losig Dae M 31,2015 Cei International develo ment Association (IDA ) Credit Dutch Government -( Grant) GIZ Financing Agencies German Dev. Bank (KfW) De artment for International Development, UK DFI) Republic of Yemen The beneficiary Minist of Education Iplementing Agencies PMU of The Education Develo ment Project PMU-o Public Work sPr( Ject (PWP) Works to be implementing of Civil Works & Goods under Component Implemented by (PUP) 1 1 The project South sixty Street -Miyaad - the capital Sana'a B Funding. Funding after Type of Financier restructuring Original Fund Fund 3 ~(US $ MA) (1US$ M) Credit International development 20.0 20.0 Association (IDA - Credit Grant Dutch Government Grant) 7.0 14.8 o (Gat 9.5 11.8 Grant German Dev. Bank (KfW) if W) Grant Department for International 2.4 41.8Development, UK ( DID 38.7 t2.0 Contribution Republic of Yemen 476103.4 TOT1A-L U 4 3 U SECONDAkRY EDUCATIOIN AND _iLACCESS PROJECT 3QANsA'A-REPUBLICOF - In addition to in-kind support from the German Technical Cooperation (GIZ) for the implementation of sub-component 2.1 (improvement of secondary education) of S (3,000,000) dollars. - Under the financing agreement No. (4401) project entered on an agreement with the Public Works Project for the implementation of civil works for the project in order to ensure implementation management, supervision and follow-up and payment for the civil U works and the purchase of goods and services required for targeted schools in the components of the project operations (sub-component A, 1, through coordination and cooperation integrative shared between all implementing parties of the components of the project according to the agreement. B - Project Objectives: The goal of the development of secondary education project in support of the Yemeni government's program to improve gender equality, quality and efficiency of secondary education in selected districts with a special focus on girls in rural areas. C - components of the project: - The Secondary Education Development Project has four components: 1. The first component of the project is to improve gender equality and reduce the gap between them trough interventions on the demand and supply sides .. 2. The second component of the project is to enhance the quality of service delivery. 3. The third component of the project is to support the development of secondary education 3 policy through the implementation of specially designed and / or related activities studies. 4. The fourth component of the project is in the control and management of the project. It was to draw lessons to make sure the design of the components of an efficient cost and 3 high quality. U5 U U ISECOVNARY EDUCATION AND GI_RL ACCESS P .OJECT 3SAM A IA - RE7PUBLm,ICQ OF _YEMEN dn ote !sadctgre feg _Ss D - Provisions of the :rant. according to the tems an The cost of the roect and fundin as cor onent: Sr. Project Components Ori inal Current I Improve gender equality and reduce the gap 74.1 33.6 between them 11.1 2 Enhance the quality of delivery of services 23.4 3 Support and development of the Secondary 1 .5 2.4 Education Develomment Poli 3not included in the restructurin. rollect 1344. Total project Costs 2 - Accountinp- policies A - Basis of Preparation of the statement of the Sources and Uses of Funds: Statements of sources and uses of funds are prepared based on the cash basis followed for the receipt of funds and expenditures. according to this basis the sources of funds are recognized upon receipt of the funds, as well as expenses when fully effective payment process. The sources and uses were displayed in US dollars in accordance with the Financiers' requirements. (B) The Contributions: It is recognized at the time of the funded receipt. C - Fixed assets: Fixed assets are recorded as expenses at the date of purchase within the project uses. D -Project Expenses : The Project expense is recognized under the project in the date of the expenses disbursed and upon receipt of the goods, services and works ... etc. I 3I U U SECONDARY EDUCATION AND GIRL ACCESS PRO,.JECT 3 SANXAA - REPUBI LIC OF _YEMEN_ E - Currenc : SAll transactions are recorded in the accounting records of the unit project in US dollars and are recognized withdrawn from the grant in US dollars and Special Drawing Rights and disbursed. aFunding and expenses in local currency (YR) are recognized and paid at the price equivalent of the US dollar, according to the prevailing exchange rate at the date of the transaction. The reevaluation of cash balances by the end of the year in local currency to the US dollar at the exchange rate in the 31/12 and calculating the differences either income or- expenses as a result of the evaluation. (F) Withdrawals from the special account: Withdrawals from the special account for the grant by the Central Bank to cover various expenses of the project under the withdrawal applications under the signature of the Director-General and Chief Financial Officer of the project. (G) withdrawal from the grant: Withdrawals from the grant account by the Authority (IDA) on behalf of the project I implementation unit and the aim of the replenish the special account for the project to the Central Bank to meet the project expenses or to pay direct costs to beneficiaries, by withdrawal applications issued by the project and based on the documents, also IDA shall 3 submit to the PIU account statement for the amounts disbursed or withdrawn from the grant account , whether direct payments or replenishments to the special account. according to a statement of expenditure and the balance in US dollars and the SDRs. 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О �у �С © р С) д � � � � � � �^ � ' �"� iI� � � � � � � �.� С'V � L°и� � � .. � .. � � � � � {С � � � �' U � N йV 1 ,ь� ;� ��� � �муΡЧ � [0 [7! � � F-ч'� °г �' м м � д � � � о о 3 � t�э `° "' � .� � ,,.� � 3 i� ia � Е., '� 3 3 ,� � � � � � � �° � r т т � � ' �Г77 Zi .. � � � � � � с" � � а �' � +о � � � С] � С�9 с��'! а г�' , ,� � %+„� С� уΡ'� дуΡ � � ц� � 1^ �т � � � i 7 tfi (О � � � � � �L R � .t� ° `.� � "� с� � Е°- � Q и W т гh 斤一一一－ 〕：斗 !! 〕〔〕！ 一｛ …；介｝/ 1 ; -,!;；· SECONDARY EDUCATION AND GIRL ACCESS PROJECT IDA Credit No. 4401 YEMEN Dutch Grant No. TFo94223 UK Grant No. 1885500`11 KfW Grant No. 200766404 Sana'a, ROY 9- :Others AcCuMulated During Year ACCUMulated Particular 3`1/12114 2015 31/121`15 LISD USD USD MQE- PM Component Bidding Documents' Fees 1,464 - 1,464 Withdrawal Application for Public (2,150) 2,150 - Works Daid bv mistake from the PWP CoMpgnent Benificiaries' Advances 400,000 (400,000) - Ex-Change Differnecies 322 29 351 TOTAL 399,636 (397,821) 11,8`15 10- GOODS 5,920,766 MOE-PMU Cmponent 2,458,755 3,462,011 PWP Component 1,299,433 123,824 1,423,257 TOTAL 3.758,188 3,585,835 7,3",023 11- _aMifflorkS Construction, expansion and rehabilitation of schools by the 23,301,858 1,066,519 24,368,377 Public Works Project TOTAL 23,301,858 1,066,619 24,368,377 12- Consultangy Services MOE-PMU COmponent 1,172,608 193,576 1,366,184 PWP Component 636,923 45,120 682,043 ln-Kind Cont. (GIZ) 3,000,000 - 3,000,000 TOTAL 4,809,531 238,696 5,048,227 13- TRAINING MOE-PMU COmponent 2,832,670 278,436 3,111,105 TOTAL 2,832,670 278,436 3,111,105 14 Z-i- I SECONDARY EDUCATION AND GIRL ACCESS PROJECT IDA Credit No. 4401 YEMEN Dutch Grant No. TFo94223 UK Grant No. 188550011 KfW Grant No. 200765404 Sana'a, ROY 14- COMMUNITY GRANTS MOE-PMU COmponent 3,870,455 (6,502) 3,863,953 TOTAL 3,870,465 (6,502) 3,863,953 PMU - OPERATIONAL 15 COSTS Accumulated During Year Accumulated Particular 31/1214 2015 31/12115 USD USD USD MOE-PMU COmponent 990,360 81,085 1,071,445 PWP Component 815,297 31,660 846,957 TOTAL 1,805,657 112,745 1,918,402 Accumulated During Year Accumulated Particular 31/12/14 2015 31/12/15 USD USD USD MOE- PMU Bank Account No (01-1166-0010235) 1,000,712 (965,339) 35,373 Bank Account No (00-1052-0010033) 90,909 19,289 110,198 Cash in Hand TOTAL 1,091,621 (946,051) 145,570 PWP-COMPONENT Bank Account No. (01-1163-0010235) 1,541,371 (1,502,936) 38,435 Cash in Hand 1,805 (1,631) 174 TOTAL 1,543,176 (1,504,567) 38,609 I GRAND TOTAL 2,634,797 (2,450,618) 184,179 I I I 15 ZA- � h-- С� 1� [£Э " М�S7 к°- ifl N Li7 С37 �3' L� �k � � т L,�O � '� � '� � ti] ц�Э � �1? т t"� м г С7 � � � w Т = М t--� [7 ' О ii7 �'т ц? �t д' aD [Ч �t st N �' � о � � �........ 3-+ � СЛ Ci о Sf3 �t [f7 [*7i � � '"' � � й' sп � мw г`#- Q� iз �� с�' tD � � � 'а � ц� �ss N "г" � � ,� � � {U � � � � "� cD W С г '':+ � Ф , а гл � сэ �t сч �- д � , � � 'N и°7 и°, � � о�е� г�ч а`�',� �°л t[� � � � � р., t�3 Н � '� "� � емд � � °� с`�ч й � � Ф ш� с.�а Rп cv сч «э � r+� ко �' � L7 '�.� � � � г N� � � � � � �+ � � � г I�- r, г С7 � N '� � Е,., ty � cV �h €� N � � � �3 О С� � ФФ(} st � � � аС? С:� � � ,L� � fl r д` г` а0 г N бз а� Г- �1 г ц7 � � �, � м•+ � � Э lfi ц7 � Rf С7 ���С1 Ч- � о � с` �,- °� г г 1` L � � �i (13 � � � � � � � . ..� � � �� i^ �..,. г� {ц � [� о F fэс E.L й � �+ {�у {1�3 �" � � й +. �.. _ � а�,� Ш j � ' � ё � � � � сtв LL Ш � E j � `� 3 �1 rл � и_ � �, � � с� �, � � � м tз � � w о � � о '� �,� � �, и � �- ш � � � ,� � � � .� ,� '� э � ,� `� Е о с �' а� ;' , ° а� � ;� с �, '� � и й � д ; +и сл '�С � � � о � � .� � �, � ы ш -� cn � � � � � � � � � р м� ` � � � и � � � С] т _ -� - � � � � °�-���и �' �� � �� �� ��� � с � тз U � Ш �i j� � ы о = � •� Е ш � '� 'О �; [б tб � r� tЭси � о ио,?о�°оо-о �-v кт? � о • � �[� � I- � С� U С.Э �- U® 1-- сл 4 W im т Z 1 * � Т 一 〕！:!!，、／ ISECONDARY EDUCATION AND GIRL ACCESS PROJECT IDA Credit No. 4401 YEMEN Dulcl Grant No. TFo94113 UK Grant No. `188550011 KfW Grant No. 200766404 Sanaa, ROY 19 Summary of Bank Accounts, Movement as of December3l,2015 Particular Public Works' Project MOE- PMU Component Component Special Account Current Aoce2unt special Account Account No 01-1166-10235 00-1052-001033 01-1163-10252 Central Bank of Central Bank of Der)ositary Bank Central Bank of Yemen Yemen Yemen Address Sana'a, ROY Sana'a, ROY Sanaa, ROY Currency USD YR USD Particular USD YR USD Opening Balance 1/1 /2015 1,000,712 90,909 1,543,176 Add Replenishments from IDA 248,067 - Replenishments from KfVV 427,954 - Returned Amounts to Account 61,475 142,499 Amount transferred to Sub- (416,459) 416,459 - account (Local Currency) Total 1,321,749 649,868 1,543,176 Deduct Repayment of beneficiaries' - - 400,000 advances Withdrawals as of 31,12.2015 1,286,376 539,670 1,104,741 Total Withdrawal as of 31/12/2015 1,286,376 539,670 1,504,741 Bank Accounts Balance as of 3 1/12/2015 35,372.92 110,197,56 38,435 Petty cash Balance - - 174 TOTAL 35,372 92 110197.56 3 09 18 L!