AUDITOR'S REPORT Audit Completion Date: 3 1-12-2024 The Secretary Secondary and Higher Education Division Ministry of Education Bangladesh Secretariat, Dhaka. Unqualified Opinion We have audited the accompanying Financial Statements of "College Education Development Project (CEDP)" financed by GOB & IDA Credit on.5841-BD which comprise of the statement of Receipts and Expenditure Statement, Budget vs Actual Expenditure Statement as at and for the year ended on 30th June 2024 and a summary of significant accounting policies and other explanatory notes. In our opinion, the project Financial Statements present fairly, in all material respects of "College Education Development Project (CEDP)" as at and for the year ended on 30th June 2024 and the funds received and expenses incurred for the year then ended in accordance with the International Public Sector Accounting Standard (IPSAS) financial reporting under the cash basis of accounting and other applicable laws and regulations. Basis for Unqualified Opinion We conducted our audit in accordance with Government Auditing Standards of Bangladesh (GASB) is- sued by the office of the Comptroller and Auditor General (OCAG) of Bangladesh which is based on the International Standards of Supreme Audit Institutions (ISSAIS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Organization in accordance with the Article 128(4) of the Constitution of the People's Republic of Bangladesh, and we have fulfilled our other ethical requirements in accordance with the Code of Ethics issued by the OCAG which is based on ISSAI 130. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our unmodified opinion. Management Responsibility Program management is responsible for the preparation of financial statements that give a true and fair view in accordance with International Public Sector Accounting Standard (IPSAS) financial reporting under the cash basis of accounting issued by the International Public Sector Accounting Standards Board (IPSASB) of the International Federation of Accountants (IFAC and other applicable laws and regulations as well as those of the (Development partner) guideline and agreement and for such internal control as management determines is necessary to enable the preparation of special purpose financial statements that are free from material misstatements, whether due to fraud or error. Auditor Responsibility Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report 6 that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with GASB will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with GASB, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: * Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the over- ride of internal control. * Obtain an understanding of internal control relevant to the audit 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 Organization's internal control. * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. * Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. (Nowshin Laila) Deputy Director For Director General Education Audit Directorate Tel: 02-226663065. 7 Financial Statement & Notes 8 College Education Development Project (CEDP) Project Financial Statements As on 30th June, 2024 Flgure in Lakh Tk.) Resources Notes Cumulative Current Period cumulative current prior period period Government of Bangladesh 1 13,681.46 2,511.33 16,198.79 Loan from Lender/Donar: ------ 2 42,940.86 10,84822 53,78908 R'Aj(pedal)/CONTASA 3 3,516.62 1,00000 4,518.62 Other Resources 4 OPenin Cast Ba1ance (CONTASA)42 Openingash Balance (RPA.GOB) o en Cash Balance (GOB)_________ Total resources 60,146.94 14,543.97 74,50649 Expenditure & Cash fronomkc Code 3111101 Pay of Officer 1,426,57 147.62 1,574.19 3111316 Education Allowance 0.36 036 3111310 House Rent 24.11 24.11 3111311 Medical Allowance 1.19 1.19 3111312 Mobile Allowance 0.12 0.12 3111313 Telephone Allowance 0.72 0.72 3111325 Festival Allowance 15.88 15.88 3258140 Motor Vehicle Maintenance 4.04 404 3111328 Recreation Allowance 0.64 0.64 3111331 Entertainment Allowance 3111335 Bangla Noboborsho Allowance 1.59 1.59 3111109 Consolidate Pay of Staff (PMU) 14.47 14.471 3211131 Pay of Establishment staff (PMU) 158.59 1.90 160.49 3211131 Outsourcing Staff 12.95 12.95 3111332 Committee Meeting 58.98 8.02 6700 3111332 Special Expenses: Strategic Plan 57.68 57.68 1141101 VAT on Domestic and Services 204.94 55.94 260.88 3241101 Travel Expenses 86.83 31.56 118.39 3311129 Office Rent 211.73 40.42 252.15 3211120 Telephone 5.57 0.59 6.16 3211117 Internet 14.77 2.33 17.10 3211113 Electrecity 17.12 4.70 21.82 3243102 Gas & Fuel 64.81 19.88 84.69 3255102 Printing and Publications 40.96 5.70 46.66 3255105s tationnery, Seal and Stamps 49.69 14.97 64.56 3257103 Research Expenses/5tudy 114 65 114.65 3211127 Books and Periodicals 0.53 0.53 3211125JAdvertising 26.89 4.82 31.71 3231301 Training Expenses 17,648.34 3,462.32 21,110.66 3211111 Seminar/Conference 215.15 34.62 249.77 3111327 Adhlkal Allowance 2 69 2.69 3211134 Irregular Staff Wage 7.90 7.90 3221101 Audit Fee 11.73 9.60 21.33 3211107 Copying Charges 0.23 0.22 0.45 3221106 Transport Expenses 2.62 2.62 3257101lConsultancey . 1,768.74 458.26 2,227.50 3257301 Functions/Ceremonlej 25 5257 3221109 Other Expenditure-PMU Operati na-27 3258101 Repalring! Motor Veh 156 6 21.55 178,51 3258102 Rep2iring r41 17.44 3258103 Repairmng: Conputer A 00te 3 rn- 053 3258105 Repalring Mächinry & ilulpmlrt - ---019 9 164 3632101 hntilutking Deve opment o_ant_~ 4112101 Motor Vehkle ----- - --- All-02 ('kmptrt & A1 411251t. MAhne riy 0jel th qvii rent - 23] 4112914 1 lilklfl i t lljfI iind11 InlIejl,l 34i 11<3 m115 Cuktonisatint Wetb h B81v,1 %O e: M, TotathPenditurf sq96252 ;2 65 1395 Cash cloilnit bal*nce opetating Actount: GO 'opting A'ent RPA (Gon) -11uec9CONT AAAon KPA (special 1ASA Acrci119442 761,42 761 1 Iotaletxfiendiltveandcash 60,146594 14,54391 74_ 6 SiIce the Loan of the World Bank has been ended In april, 2024 (Inciuding Grase Period), the unspend amount BOT. 67,42 Lakh has been surrendered to World Bank through Bangladesh Bank, Kazi MdLahman, BPAA project Dircror (joint SecrtarY) Colegt Eduaitis Devclc;MC%l PrGl-C( Secondary agd Higher EdUILen11 D'!5;n Minforv of EJcatoln 10 College Education Development Project Notes of Financial Statement 30th.june, 2024 1 Govt. of ganglaiesh: F Und are allocated by the Government of nangiladesh to cover GOD's share of eligible project expenditures, ast pecified In the project profotma and in the Annual Development Program (ADP) for each of the project. Any illocatet fundli that hAv, not Lieen vipneded by erid of a fiscal year lapse must be returned to Govt. GOP' contriubution to the Fr,oject oine Intlflon Are at follows (In lakh taka) t~islrtr~enieo ~ ~ IncertllonttoMM1t Julie, Forthe year(2023-2024 lriceptron to 30th June, 2023 2024 Dibreetby GOS 28211.02 3823.00 32094,02 ud14583.50 1311.67 158 is23 Total 13087.46 2511.33 16198.79 2 Loan from Lender/Donor: RPA Through GOD: InceptIon to 30th June, For the year 2023-2024 inception to 30th June 2023 2024 Disbursement RPA Through 74956.62 12681.11 87637.73 GOB Less: Refund to RPA (GOB) 32015.76 1832.89 33848.65 unspent balance Total 42940,86 10848.22 53789.03 3 Loan from Lender/Donor: RPA Special/CONTASA: The IDA has provided to the project to cover It's share of eligible project expenditures. These funds, which must be repaid to IDA after the conclusion of the project. Funds have been drawn by the project in accordance with the following withdrawal procedures (in takh Taka) Inception to 30th June, For the year 2023-2024 Inception to 30th June 2023 2024 initial Advance ( CONTASA) 3520.Q6 1000.00 4520.06 OPA (Direct Payment) RPA (50E Procedure) RPA (Non SOE Procedure) Total 4 Other Resources: inception to 30th June, For the year 2023-2024 Inception to 30th June 2023 2024 Project Revenues Exchange Gaint/Losses Total 5 Cash: Inception to 30th June For the year 2023-2024 Inception to 30th June, 2023 ___________ 2024 imprest Account (CONTASA) Operating Account (RPA GOB) Operating Account (GOB) Total 516,270,0001000C Note: IDA has been accpeted fgible expenditure for the year 2023-2024 BOT 00.00 lakh and cumulative to date 80436883.65 lakh where IDA reimbursed 80T 25828.56 lath for the year 20232024 and cumlative to date BOT 7837173 laKh. Knzi Md Ab oiahmast, BPAA projct DirectOr (Joint Secretary) ct(CEDP) College Edlcatio DcvielO cttison Secondary and Higoereducation nI or pduc,,Ion г, иа,!41аРЭ1Q,i,!�1и!�� �ол,S ,o,s,�,p aaiie,app,ay9�и ра��ОСРл�л �, дрЭ��!�л(о,�!олидгр.�лриодt.ор� 11 � (�а�l�iэа$luio() ,о�а��� (о,д � ��g� ��д8 `и�ш т�р � p1h . 1 нгог•�а�г rcmo'soc'�г 108 ,иашагзоqшiаы нгнг нsзаа!ОиаеноiиэwNыз�оо ог•ыыое гЕ Ег4г•3ц1•SO ог'O�S'Dit'itS 1о8 lиашаsзоqшiаы f tfI H�30a19Ntl8 нo1NЭWN83�o�J гг'ыыо8 С£ �iог•�•ЕО 00'Оо0'000'OOI 108 а•а0 oD00doE0SR7o 1N3Wd013AЭ0 N011д7�оЭ Э9Э110о 94'аМ нн ЕгОг�+оИ•г0 06'8о9'8IE'�1h 109 auaшasmqшiay EIEt HSЭOa19Na8 нo1N3WN83�o9 гi•ыыое sF rгог•зе,ч•со оsсы�Еоыьрг'г 108 ,uawas,nqwiay сгЕг нsзаы!Оиаа эо�иэwиыз�оо нг•ыыое эн rгог�w•го ог'гrs'�г'rог 1о8 luaшasmqшiay нгнг нs8оиоиае до iизwиыз�оо �t•ыыоа tE tiгоr,да��г оо�о iaa а•аа ocoooofossгtrti ы•оо нн сгог•�да•ы оо�а iae а•аа оr�ооноs5га� ог�оа ьн сгаг•,да�г ��о iae а�аа oaoooofassгrc tг•оа о� rгог•зда�г �'о 1ае а•аа осооаонаssгс� гг•аа гу DiOг•�,ц•6t Qo'о 108 а•а0 06000ofDSSiq9 Sг-о0 гу сгог•�г•сгf�'i9�7сг'эс• 1о8 иарез9д�1 fсгноtiо�0оNы-иеы Еа spu��ay lшtlр!ед � здtil lиоо»аl�еnцаиа8 aшeNtie!зуаиаg азиа�а}аызамодоg aaepaoje� р!ед ио!1¢��дду opsu¢з1(8М ' 1 tiешшаS рiед! : �ааааео' -----______. ��а `�а; ; tie,a,i!з � ; ц!j uoiuesueJ1' гиашда�аеариаi�езорз :аза(о,д а8а11о� • LLStrS1d угаре!8ueg ,ti�uno0 Яи!�едау ;so1el5 Iao1I0t6нSa01 ��QQ1 Vi'а Ег но�l Dгог/610t рарео�имо0 ssauim8a �ueg р��о� AUDITORS REPORTS ON SPECIAL ACCOUNT 1. We have audited the special account Statement of the "College Education Development Project (CEDP)" financed by IDA under CREDIT NO:5841-131) FY 2023-2024. Our audit was carried out in accordance with international standards on auditin-. Accordingly, our audit included such review of the tests of the accounting records and supporting documentation. Verification of accounts balance and reconciliation that we have considered necessary under the circumstances. 3. The accompanied special account statement was prepared on the basis of initial deposits and withdrawal for the purpose of complying with above agreement. 4. In our opinion the receipts are properly accounted for and withdrawal were made for the purpose of the project in accordance with the Financing agreement that gives a true and fair view of the beginning & ending balance and the accounting activity for the year ended on 310t" June 2024 on the basis of cash deposits and withdrawals. The special account is being maintained according to the approval of Finance Division. The withdrawal of money is in accordance with authorization of Finance Division. (Nowshin Laila) Deputy Director For Director General Education Audit Directorate Tel: 02-226663065. 14