Ningbo Municipal Audit Office of the People's Republic of China Audit Report M 4hTh. [2018) 30 -! NINGBO AUDIT REPORT [2018 NO. 30 Project Name: Ningbo Municipal Solid Waste Minimization and Recycling Project Financed by the World Bank r 4: 8250-CN Loan No.: 8250-CN Project Entity: World Bank Loan Project Management Office of Ningbo itt*&: 2017 Accounting Year: 2017 目录 ColltelltS 一、审计师意见．,................................................................．……1 1.Auditor,s OPinion.．……，……，…，．…，...................．……，.,.,.,,，二，二，.．…3 二、财务报表及财务报表附注．....................．……，,.，…，. ......．……，二，,6 11,Financial Statelneflts and Notes to the Financial State们几eflts.....．……，，…，.6 （一）资金平衡表．........．……，．……，，二，二，.．······，····················……6 1 .Balance Sheet,...........．……，……，........................... ..........．……6 （二）项目进度表……，,,.,,．…，.,,，……，................................．……8 11.Sullllnary of Sources and Uses of Funds by Project Component....．……8 （三）贷款协定执行情况表，.,...．……，，…，.,.．…，二，．…，,.．…，.．…，.，……10 111 .statemeot of Implementation of Loan Agreement.....．……，,..．……，二10 （四）专用账户报表．................．……，…，,.,，…，二，.,,．……，......．……H iv. Speeial Account Statement...............................................．……11 （五）会计报表附注，二，...............．……，...．……，…，..............．……13 v. Notes to the Financial statements......................................．……16 三、审计发现的问题及建议．.................................................．……20 111 .Audit Findings and Recommendations.................．……，。，,,，…22 一、审计师意见 审计师意见 宁波市世界银行贷款项目管理办公室： 我们审计了世界银行贷款宁波城镇生活废弃物收集循环利用示范 项目2017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19页）。 （一）项目执行单位及宁波市财政局对财务报表的责任 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 表是你办的责任，簖制专用账户报表是宁波市财政局的责任，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 l 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，公允反映了宁波城镇生活 废弃物收集循环利用项目2017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 我们还审查了本期内由宁波市财政局报送给世界银行的第NBg号至 NB14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。 宁波市审计局 20士8年6月14日 地址：中国宁波市郭州区宁穿路2001号2号楼7楼 邮政簖码：315066 电话：86一0574一89186079 传真：86一0574一87279659 1. Auditor's Opinion Auditor's Opinion To the World Bank Loan Project Management Office of Ningbo We have audited the special purpose financial statements (from page 6 to page 19) of Ningbo Municipal Solid Waste Minimization and Recycling Project financed by the World Bank, which comprise the Balance Sheet as of December 31, 2017, the Summary of Sources and Uses of Funds by Project Component, the Statement of Implementation of Loan Agreement and the Special Account Statement for the year then ended, and Notes to the Financial Statements. Project Entity and Ningbo Municipal Finance Bureau's Responsibility for the Financial Statements The preparation of the Balance Sheet, the Summary of Sources and Uses of Funds by Project Component and the Statement of Implementation of Loan Agreement of the financial statements is the responsibility of your entity, while the preparation of the Special Account Statement is the responsibility of Ningbo Municipal Finance Bureau, which includes: i. Preparing and fair presenting the accompanying financial statements in accordance with Chinese 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 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 perfori-ning procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected 3 depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An 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 Ningbo Municipal Solid Waste Minimization and Recycling Project Financed by the World Bank as of December 31, 2017, 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 Matter We also examined the withdrawal applications from No.NB9 to No.NBl4 and the attached documents submitted to the World Bank during the period. In our opinion those documents comply with requirements of the project loan agreement and can serve as basis for loan withdrawals. 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. Ningbo Municipal Audit Office of the People's Republic of China June 14,2018 4 Address: 7F, No.2 Building, No.2001, Ningchuan Road, Yinzhou District, Ningbo City, Zhejiang province, R.P. China Postcode: 315066 Tel: 86-0574-89186079 Fax: 86-0574-87279659 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 2017 4 12 }i 31 H (As of December 31, 2017) Project Name: Ningbo Municipal Solid Waste Minimization and Recycling Project financed by the World Bank Prepared by: World Bank Loan Project Management Office of Ningbo Currency Unit: RMB Yuan Application of Fund U Beginning Balance Ending Balance Sources of Fund Line Beginning Balance Ending Balance No. INo. Total Project Expenditures 1 397,286,020.66 775,799,434.12 Total Project 28 534,865,542.23 813,258,976.07 Appropriation Funds ix 2 - - Project Capital and Capital 29 - - Fixed Assets Transferred Surplus Construction Expenditures 3 - - Including: Grants to be Disposed 3. 091RtA 4 -k -.,i 31 127,312,940.31 262,272,938.28 Investments Transferred-out 4 Total Project Loan Constrction in Progress 5 397,286,020.66 775,799,484.12 Total Project 32 127,312,940,31 262,272,938.28 Investment Loan 6 - - (1) 0 33 127,312,940.31 262,272,938.28 Investment Loan Receivable Foreign Loan Including: World Bank 7- - Inld IDA 34 - - Investment Loan Receivable cuing. # ftWra) *ftWR UN ff RA41l kifr Appropriation of Investment 8 - - 35 127,312,940.31 262,272,938.28 Loan IBRD Including :Appropriation of 9- - Technical 36 - - World Bank Investment Cooperation Loan 4 10 37 - - Equipment Co- Financing Including: Equipment Losses I - - Domestic Loan 38- - in Suspense ' f 0 A 12 236,444,614.75 346,134,459.77 2. 4Laft 39 - - Total Cash and Bank Other Loan I. Cashiak 13 236,440,488.32 346,131,818.34 Appropriation of 40 - - Cash in Bank Investment Loan 14 28,117,529.27 28,050,330.86 41 - - Including: Special Account Including: World Bank Loan An- (Tobecontinued) 6 2. Rk 15 4,126.43 2,641.43 -42 - Cash on Hand ' Bond Fund Total Prepaid and Receivable 16 47,206,157.57 32,501,790.27 Construction Expenditures 43 - to be Offset Including: World Bank Loan 17 -44 19,232,662.56 79,257,561.62 Interest Receivable Total Payable World Bank Loan Commitment Fee Is - - Including: World Bank 45 - Receivable Loan Interest Payable World Bank Loan Service- 19 - - World Bank Loan 46 - Fee Receivable Commitment Fee Payable Marketable Securities World Bank Loan Service Fee Payable Toal ix Asets '2 476,738.47 361,226.85 ' Oth ale 48 2,386.35 7,485.04 Fe Assets- , Cos 22 486,364.44 486,36444 A* 49 - - Fixed Assets, Cost Appropriation of Fund Less: Accumulated 23 9,625.97 125,137.59 t A50 - Depreciation Retained Eamings Fixed ts et 24 476,738.47 361,226.85 9A7* 975 - - Fixed Assets Pending Disposal Fixed Assets Losses in 26 - - Suspense o* pc on of Fund 27 681,413,531.45 1,154,796,961.01 o lor of Fud 51 681,413,531.45 1,154,796,961.01 Total Application of Fund Total Sources of Fund 5 （二）项目进度表 11.Summary of Sources and Uses of Funds by Project Component 项目进度表（一） SUMMARY OF SOURCES AND USES OF FUNDS 1 BYPROJECTCOMPONENTI 本期截至2017年12月31日 (For the period ended Decelllber 31,2017) 项目名称：世界银行贷款宁波城镇生活废弃物收集循环利用示范项目 ProjectNalne:Nin沙oMuniciPalsolidV而steMi曲11ization二dRecyclingProject血ancedbythewbridBank 簖报单位：宁波市世界银行贷款项目管理办公室货币单位：人民币元 …多 8 � � �"� �з � � � � � С � �R„ еС � � 1� � i �{-. � � L С� ,J О ° „�7 �И -L7 1П . 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Special Account Statement * M w P SPECIAL ACCOUNT STATEMENT 12017 * 12 A 31 H (For the period ended December 31, 2017 )5,04V: tXPWIAWHAAO ;9&4 ff P V fft 4: rP [F) ;kikff il A )-ff it t A M 41 fl M ?l J;?1 R Project Name: Ningbo Municipal Solid Waste Depository Bank: China Everbright Bank Minimization and Recycling Project financed Ningbo Branch by the World Bank *-5 : 76801488000009243 J A,k- 7: 8250-CN AccountNo.: 76801488000009243 Loan No: 8 2 5 0- CN 5111- Ff f P t-,: A TG 94*1k: Currency Unit: USD Prepared by: Ningbo Municipal Financial Bureau An3 : Part A-Account Activity for the Current Period Arnount 4,053,269,32 Beginning Balance lbrr: Add: *Jw 9ff V9 illltm 21,785,755.05 Total Amount Deposited this Period by World Bank *MflA11qkA4V GIAI Awp") Total Interest Earned this Period if Deposited in Sinial Account * A * A.# -t 2 0 0 10 SP Total Amount Refunded this Period to Cover IneligibIe Expenditures Deduct: *M3Ut.4v 21,546,175.84 Total Amount Withdrawn this Period Total Service Charges this Period ifnot Included in Above Amount Withdrawn 4,292,848.53 Ending Balance rzi gTo be continue) 犷 财务报表说明是本表的组成部分（The notes are integral Parts。fthe financial:tatelnents) l2 （五）会计报表附注 财务报表附注 1．项目概况 世行贷款宁波市城镇生活废弃物收集循环利用示范项目贷款号为 8250一CN，项目发展目标是通过进行垃圾源头分类和循环利用帮助宁波市在所 选定的区内增加生活废弃物回收利用的数量和比例。该项目由生活垃圾分类、 收集、分拣和运输，厨余垃圾处理，项目实施支持，能力建设和项目管理支持 四个子项组成。 项目协定于2013年7月4日签订，2013年9月3日生效，预期贷款关账 日期为2019年3月31日。项目计划总投资为人民币15.26亿元，其中世·界银 行贷款总额为8,000万美元。 2．财务报表编制范围 本财务报表由宁波市生活垃圾分类管理中心（简称“市分类中心”）有关 宁波市生活垃圾分类项目财务报表、宁波首创厨余垃圾处理有限公司（简称 “首创厨余处理公司”）有关厨余垃圾处理项目财务报表及宁波市财政局专用 账户报表合并而成。 3．主要会计政策 3,1本项目会计核算执行《世行贷款宁波城镇生活废弃物收集循环利用示 范项目财务管理暂行办法）)o 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2017年12月31日汇率，即USDI只人民币6.5342 13 元。 4．报表科目说明 4 .1在建工程刃 20,7年年末在建工程余额77&,799,&8钾2元累计完成项即慈呷哟！ 5 0.84%0其中生活垃淤类、收集、分拣和运输项目563, 642,219·92元，兄1 成项目总计划的5 5.29%；厨余垃圾处理项目150，仍5,103.n元，累计完成项 目总计划的肠．64%；项目实施支持55,324,547.05元，累计完成项目总计划的 32.50%；能力建设和项目管理支持6,797,614．叫元，累计完成项目总计划的 46.56％。 礴．2货币资金 2 017年年末货币资金余额346,134,459.77元，其中世行专用账户存款额 4,292,848.53粎元，折合人民币28,050,330.86元。 4,3预付及应收款 2017年年末预付及应收款余额32,501,790.27元，其中市分类中心 11,006,765.92元，首创厨余处理公司21,495，。24.35元。 4.4固定资产 2 017年年末固定资产余额361,226.85元，全部为首创厨余处理公司固定 资产余额。 4.5项目拨款 2沮7年年末项目拨款余额813,2 58,9 76·07元。其中（1）市级配套资金即｛ 宁波市财政局拨至市分类中心，用于生活垃圾分类、收集、分拣和运输项目（ 260,000，叨。，的元；〔2）区级配套资金即海曙区财政局拨至海曙区子项目办 50,302,000.00元；原江东区财政局拨至原江东区子项目办151,338,742.00 元；江北区财政局拨至江北区子项目办84,700，。叻．00元；勤州区财政局拨至 郸州区子项目办8碍，929,3朽．19元；镇海区财政局拨至镇海区子项目办 63,2 20,000,00元；北仑区财政局拨至北仑区子项目办11,186,761.21元；东 l4 钱湖财政局拨至东钱湖子项目办21,194,82 9.70元；高新区财政局拨至高新区 子项目办4,8 65,0 00.00元；〔3）首创厨余处理公司自筹资金用于厨余垃圾处 理项目81,522,297.97元； 4.6项目借款 2017年年末项目借款余额40,138,492.59美元，折合人民币 2 62,272,938.28元，全部为国际复兴开发银行贷款额。 截至2 0 17年12月31日，累计提取世界银行贷款资金礴。，1 38,492.59美 元，占贷款总额的5 0.17％。其中：工程累计提款22,323,851.81美元，占该类 计划的53.1叭。货物和非咨询服务累计提款5,782,543.36美元，占该类计划 的37.60％。咨询服务和培训累计提款1,567，叨6.79美元，占该类计划的 39.97％。供货和安装累计提款2,765,090.63美元，占该类计划的18.25％。先 征费累计提款200,000．叨美元，占该类计划的100.0哪。 4.7应付款 2017年年末应付款余额79,257,561.62元，其中市分类中心 34,0 37,258.60元，首创厨余处理公司45,220,303.02元。 5．专用账户使用情况 本项目专用账户设在中国光大银行宁波分行，账号为 7 6801488000009243，币种为粎元。专用账户首次存款750万美元。2017年期 初4,053,269.32粎元，2017年世界银行回补21,785,755. 05美元，支付 21,5 46,175.84粎元，年末余额召，292,848.53美元。 6．其他需要说明的事项 项目资金平衡表中国际复兴开发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。 l5 v. Notes to the Financial Statements Notes to the Financial Statements 1. Project overview 4 The Loan No. of Ningbo Municipal Solid Waste Minimization and Recycling Project is 8250-CN. The project development objective is to assist selected districts in Ningbo Municipality to increase the volume and proportion of municipal solid waste recycled with processes for waste separation at source and recycling. The project is composed of four components: Municipal Solid Waste Separation, Collection, Sorting and Transportation, Kitchen Waste Treatment, Project Implementation Support, Capacity Building and Project Management Support. The Project Agreement was signed on July 4, 2013 and came into effect on September 3, 2013. The account of the project will be closed as at March 31, 2019. The total investment of the project was RUB 1,526,000,000.00, including World Bank loan of USD 80,000,000.00. 2. Consolidation Scope of the Financial Statements These financial statements encompass the consolidated financial statements of Ningbo Domestic Solid Waste Separation Project Management Office (SWPMO) for Ningbo Municipal Solid Waste Separation Project financial statement, Ningbo Capital Kitchen Waste Treatment Company Limited for Kitchen Waste Treatment Project financial statement as well as the Special Account Statement set in the Ningbo Municipal Finance Bureau. 3. Accounting Policies 3.1 The Financial Statements of the project were prepared according to the requirements of Interim Measures for Financial Management of Ningbo Municipal Solid Waste Minimization and Recycling Project Financed by the World Bank. 3.2 In accounting practice, the Gregorian calendar year is adopted as the fiscal year from January 1 to December 3 1. 3.3 The accrual basis and the debit/credit double entry bookkeeping method are adopted. RMB is used as the recording currency of bookkeeping, 16 3.4 The exchange rate adopted in the financial statements was the exchange rate on December 31, 2017 of the People's Bank of China, which is USD 1= RMB 6.5342. 4. Explanation of Subjects 4.1 Construction in Progress By the end of 2017, the balance for construction in progress was RMB 775,799,484.12, which accounted for 50.84% of total investment plan. Among those investment, Municipal Solid Waste Separation, Collection, Sorting and Transportation took RMB 563,642,219.92 accumulatively, accounting for 55.29% of the component's investment plan; Kitchen Waste Treatment took RMB 150,035,103.11, accounting for 46.64% of the component's investment plan; Project Implementation Support took RMB 55,324,547.05, accounting for 32.50% of the component's investment plan; Capacity Building and Project Management Support took RMB 6,797,614.04, accounting for 46.56% of the component's investment plan. 4.2 Cash and Bank By the end of 2017, the balance for cash and bank was RJMB 346,134,459.77, including USD 4,292,848.53 in the Special Account of the World Bank, which was equivalent to RMB 28,050,330.86. 4.3 Prepaid and Receivable By the end of 2017, the balance of prepaid and receivable was RMB 32,501,790.27, including RMB 11,006,765.92 for Ningbo Domestic Solid Waste Separation Project Management Office and RMB 21,495,024.35 for Ningbo Capital Kitchen Waste Treatment Company Limited. 4.4 Fixed Assets By the end of 2017, the net value of fixed assets was RMB 361,226.85, which was the net value of the fixed assets of Ningbo Capital Kitchen Waste Treatment Company Limited. 4.5 Project Appropriation Funds By the end of 2017, the balance of project appropriation funds was RMB 813,258,976.07. Among those funds, RJMB 260,000,000.00 was the municipal-level counterpart funds allocated to SWPMO by Ningbo Municipal Finance Bureau for Municipal Solid Waste Separation, Collection, Sorting and Transportation Project. RMB 50,302,000.00 was the district-level counterpart funds allocated to Haishu 17 Sub-SWPMO by Haishu District Finance Bureau; RMB 151,338,742.00 was the district-level counterpart funds allocated to original Jiangdong Sub-SWPMO by original Jiangdong District Finance Bureau; RMB 84,700,000.00 was the district-level counterpart funds allocated to Jiangbei Sub-SWPMO by Jiangbei District Finance Bureau; RMB 84,929,345.19 was the district-level counterpart funds allocated to Yinzhou Sub-SWPMO by Yinzhou District Finance Bureau; RMB 63,220,000.00 was the district-level counterpart funds allocated to Zhenhai Sub-SWPMO by Zhenhai District Finance Bureau; RMB 11,186,761.21 was the district-level counterpart funds allocated to Beilun Sub-SWPMO by Beilun District Finance Bureau; RMB 21,194,829.70 was the district-level counterpart funds allocated to Dongqian Lake Tourism Resort Sub-S)WPMO by Dongqian Lake Tourism Resort Finance Bureau; RMB 4,865,000.00 was the district-level counterpart funds allocated to the National Hi-tech Zone Sub-SWPMO by the National Hi-tech Zone District Finance Bureau. RMB 81,522,297.97 was self-raised by Ningbo Capital Kitchen Waste Treatment Company Limited for Kitchen Waste Treatment Project. 4.6 Project Loan By the end of 2017, the balance of project loan was USD 40,138,492.59, which was equivalent to RMB 262,272,938.28. All the amount was the loan from the World Bank. As of December 31, 2017, accumulated USD 40,138,492.59 of loan had been withdrawn from the World Bank, accounting for 50.17% of the total loan. Among that loan, construction project took USD 22,323,851.81 accumulatively, accounting for 53.10% of the category plan; goods and non-consulting service took USD 5,782,543.36 accumulatively, accounting for 37.60% of the category plan; consulting services and training took USD 1,567,006.79 accumulatively, accounting for 39.97% of the category plan; supply and installation took USD 2,765,090.63 accumulatively, accounting for 18.25% of the category plan; front-end fee took USD 200,000.00 accumulatively, accounting for 100.00% of the category plan. 4.7 Payable By the end of 2017, the balance of payable was RMB 79,257,561.62, including RMB 34,037,258.60 for Ningbo Domestic Solid Waste Separation Project Management Office and RMB 45,220,303.02 for Ningbo Capital Kitchen Waste Treatment Company Limited. 5. Special Account is The Special Account of this project was set up in China Everbright Bank Ningbo Branch with account number of 76801488000009243 (Currency Unit: USD). The initial deposit of the Special Account was USD 7,500,000.00. The beginning balance of 2017 was USD 4,053,269.32, the amount deposited in the year by the World Bank was USD 21,785,755.05 and the disbursement of the year was USD 21,546,175.84. Hence, the ending balance of 2017 was USD 4,292,848.53. 6. Other Explanation for the Financial Statements Due to the accumulated exchange gains and losses, there are discrepancies between the difference of the beginning and ending balance of the IBRD loan in the Balance Sheet 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. 19