SOUTH SUDAN -EASTERN AFRICA REGIONAL TRANSPORT, TRADE AND DEVELOPMENT FACILITATION PROGRAM PHASE ONE MINISTRY OF ROADS AND BRIDGES IDA CREDIT No-5363-SS Project No: P131426 ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED JUNE 30, 2017 Prepared in accordance with the Cash Basis of Accounting Method under the International Public Sector Accounting Standards (IPSAS) South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 Contents 1. PROJECT INFORMATION AND OVERALL PERFORMANCE .............................................................4 1.1 Nam e and registered officeffice.4............................................................ .... ..... ..................4 1.2 P roject Inform ation ....................................................t.................. -. ----... -... -. . ........................................ P I.. 4 1.3 P roject O verview .........................................................e..r............................................ ............... . . ..... .. 4 1.4 B ankers ...............................................................kers.. -.-..-................ -- ........................................................... 5 1.5 A uditors ................................................................................. ....................................5 1.6 R oles and R esponsibilities................................................................................................................................ 5 1.7 F unding sum m ary.................................................................................... ... ......................6 1.8 Summary of Overall Project Performance:..................................................................................................6 1.9 Sum m ary of Project Com pliance: ...........................**....--...-.-............ -.:--.-..... ............................................. 7 2. STATEMENT OF PROJECT MANAGEMENT RESPONSIBL ES.......................................................8 3. REPORT OF THE INDEPENDENT AUDITORS ON THE SOUTH SUDAN- EASTERN AFRICA REGIONAL TRANSPORT, TRADE AND DEVELOPMENT FACILITATION PROGRAM.............9 4. STATEMENT OF RECEIPTS AND PAYMENTS FOR THE PERIOD ENDED 30TH JUNE 2017.......11 5. STATEMENT OF FINANCIAL ASSETS AND LIABILITIES AS AT 30TH JUNE 2017 .......................12 6. STATEMENT OF CASHFLOW FOR THE PERIOD 30TH JUNE 2017..................................................13 7. STATEMENT OF COMPARATIVE BUDGET AND ACTUAL AMOUNTS...........................................14 8. NOTES TO THE FINANCIAL STATEMENTS..................................T.-S..................................................1 8.1 Statement of compliance and basis of preparation.......................................................................................15 8.2 R ecognition of revenue and expenses............................................................................................................pn.15 8.3 In-kind donations...............................................n.n................-.......-...-..-.-................ -.................................... .15 8.4 Cash and cash equivalents...................................................- .........-.1..............--......................... .........15 8.5 P ending bills ...............................................................................................ills.1... ......................................... 16 8.6 B udget ..............................................................Budget-16 -................ ..................................... .16 8.7 Exchange rate differences .................................................................................................................... ............ 16 8.8 C om parative figure 1s .............................. ............................................... . . . - - - ......................................... 16 8.9 Subsequent events..............................................................................-............. ........................................... 16 8.10 LOAN FROM EXTERNAL DEVELOPMENT PARTNERS.......................................................................17 8.11 COMPONENT 1 (Upgrading of priority road infrastructure) ..................................................................18 8.12 COMPONENT 2 (Facilitation of Regional Transport, Trade and Development)....................................... 2 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financialyear ended June 30, 2017 8.13 COMPONENT 3 (Institutional Development & Program Management) ...............age).................................19 8.14 COMPONENT 4 (Connecting Juba with Fibre Optips)ts1...........................................................................19 8.15 CASH AND CASH EQUIVALEAVNTS C/FWD .....................................................-.-................................20 8.15A CASH AND CASH EQUIVALENTS C/FWD (Continued)...... ...........................o...)................-.20 8.15B O utstanding Im prests and Advances.........................*.*.......-.........---..-........*.... --.21..... --... ............................ -2.1 8.16 PEND IN G BILL S (A nnex 2).................................................................2. --.-................. ................... ............21 8.17 PENDING W AGE BILLS (Annex 2)).)............. ..........-.....-.-....2.....-..-.-........... .......................................21 8.18 ANNEX 1: VARIANCE EXPLANATIONS:COMPARATIVE BUDGET & ACTUAL AMOUNTS.... ..22 8.19 ANNEX 2 - ANALYSIS OF PENDING BLLS2....................................................................................... 23 3 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 1. PROJECT INFORMATION AND OVERALL PERFORMANCE 1.1 Name and registered office Name: The project's official is name is the South Sudan - East Africa Regional Transport, Trade and Development Facilitation Program, Objective: The key objective of the project is to enhance regional connectivity of South Sudan with its Eastern Africa neighboring countries and access to seaports., Address: The project headquarters offices are in Juba, Jubek State, South Sudan. The address of its registered office is: Ministry of Roads and Bridges Project Management Team (PMT) Yei Road, Jebel Kujur, Juba Contacts: The following are the project contacts Telephone: (+211) 926 616 926/ (+211) 926 418 331 E-mail: pmtmrb@gmail.com 1.2 Project Information Effectiveness Date: December 22, 2014 Closing Date: December 30,2019 Project Manager: James Alam Ohurey Project Sponsor: The project sponsor is Mr.Philip Marlow Waiwai 1.3 Project Overview Line Ministry/State The project is under the supervision of the Ministry of Roads and Bridges of Department of the the Republic of South Sudan. project Project number P131426 Credit number SS-5363 Strategic goals of the The strategic goals of the project are as follows: project (i) A reduction in transport cost along the program corridor (ii) An increase in trade volume between South Sudan and Kenya (iii) A reduction in ICT access costs. i 4 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EAR TTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 Achievement of The project management aims to achieve the goals through the following strategic goals means: (i) Upgrading of priority road infrastructure (ii) Facilitation of Regional Transport, Trade,and Development (iii) Institutional Development and Program Management (iv) Connecting Juba with Fiber Optics Other important The program will be implemented in a series of three projects (SOP) across background different agencies with the Ministry of Roads and Bridge taking lead. The information of the other agencies include South Sudan Customs and Ministry of Information project Communication Telecommunication and Postal Services Current situation that Formal trade between South Sudan and its neighbours, Ethiopia and Kenya, the project was is restricted due to the limited transport access. The proposed program formed to intervene contributes to the facilitation of trade amongst the four countries in the sub- region, namely: South Sudan, Uganda, Ethiopia and Kenya, through the improvement of the Juba-Nadapal road, which serves as a primary corridor connecting South Sudan and Kenya and with a spur road links Uganda and Ethiopia, together with other focused interventions, including a significant trade facilitation component Project duration The project became effective on 22nd December 2014 and is expected to run until 30t December 2019 1.4 Bankers The following are the bankers for the current year: (i) Stanbic Bank Kenya Ltd 1.5 Auditors The project is audited by the South Sudan National Audit Chamber. 1.6 Roles and Responsibilities Names Title designation Key qualification Responsibilities James Alam Ohurey Project Coordinator Engineering Project Manager Thomas Gatluak MICTPS PIU Telecommunications Coordination O Coordinator project activities in MICTPS Manut Atemdit SSCS PIU Coordination 1 Coordinator project activities in SSCS 5 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 David Kenyi Surveyor Survey Project implementation support Leonard Kawombe Financial FCCA, MBA (Fin), Financial Management Management B.Sc (Acc), Bcom Specialist Specialist (Fin) 1.7 Funding summary The first phase of the Program is for duration of five (5) years from 2014 to 2019 with an approved budget of SDR 52.2m equivalent to US$ 80m as highlighted in the table below: Below is the funding summary: ()Loan _________ International Development Association (IDA) 52,200,000 80,000,000 1,229,6 1,754,276 50,970,839 78,245,724 (ii) Counterpart funds Government of the Republic of South Sudan 25,000,000 - . 25,000,000 Total 52,200,000 105,000,000 1,229,161 1,754,276 50,970,839 103,245,724 1.8 Summary of Overall Project Performance: a) In the FY2016/17 US$0.3m was disbursed against a budget of US$0.6m. Cumulative to 30 June 2017 US$1.8m has been disbursed against a budget of US$80m. Projected disbursement in the FY2016/17 was low due to the prevalent conditions in the Country that warranted a slowdown in project activities. b) Physical progress based on outputs, outcomes and impacts since project commencement c) Supporting SSCS in developing an effective human resources and systems required for providing high quality and professional Customs Services, notably the aspects of recruitment and deployment, capacity building, accountability and integrity mechanism along with professional development of staff, as well as having in place robust policy and manuals for HRM. d) Review of the design of the fiber optic network and preparation of detailed Terms of Reference (TOR) for the firm to prepare the fiber optic cable network design including cost estimates. 6 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30,2017 e) Identifying Public Private Partnership (PPP) options for the ownership, management and operation of South Sudan Fiber Optic Cable Network f) Establishment ofthe SSCS and MICTPS PIUS g) Establishment and implementation of project financial management arrangements Comment on value-for-money achievements The key project activities have mainly been consultancy assignments and deliverables have been received from the Consultants and approved by the Implementing Units List the implementation challenges and recommended way forward. a. The crisis of July 2016 coupled with effects of the December 2013 crisis caused implementation challenges b. , Delay in finalization of financing from other Partners. c. Finalisation of financing by concerned partners to be expedited. 1.9 Summary of Project Compliance: There were no material instances of non-compliance with applicable laws, policies and procedures during the year. iv 7 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30,2017 2. STATEMENT OF PROJECT MANAGEMENT RESPONSIBILITIES The Undersecretary of the Ministry of Roads and Bridges (MRB) and the Project Coordinator for South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS- EARTTDFP) are responsible for the preparation and presentation of the Project's financial statements, which give a true and fair view of the state of affairs of the Project for and as at the end of the financial year (period) ended on June 30, 2017. This responsibility includes: (i) maintaining adequate financial management arrangement and ensuring that these continue to be effective throughout the reporting period; (ii) maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Project; (iii) designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the financial statement, and ensuring that they are free from material misstatements, whether due to error or fraud; (iv) safeguarding the assets of the Project; (v) selecting and applying appropriate accounting policies; and (vi) making accounting estimates that are reasonable in the circumstances. The Undersecretary of MRB and the Project Coordinator for SS-EARTTDFP accept responsibility for the Project's financial statements, which have been prepared on the Cash Basis Method of Financial Reporting, using appropriate accounting policies in accordance with International Public Sector Accounting Standards. The Undersecretary of MRB and the Project Coordinator for SS-EARTTDFP are of the opinion that the Project's financial statements give a true and fair view of the state of Project's transactions during the financial year/period ended June 30, 2017, and of the Project's financial position as at that date. The Undersecretary of MRB and the Project Coordinator for SS-EARTTDFP further confirm the completeness of the accounting records maintained for the Project, which have been relied upon in the preparation of the Project financial statements as well as the adequacy of the systems of internal financial control. The Undersecretary of MRB and the Project Coordinator for SS-EARTTDFP confirm that the Project has complied fully with applicable Government Regulations and the terms of external financing covenants, and that Project funds received during the financial year/period under audit were used for the eligible purposes for which they were intended and were properly accounted for. Approval of the Project financial statements The Project financial statements were approved by the Undersecretary of the Ministry of Roads and Bridges and the Project Coordinator for South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) on-,4r & ,tJ 2012 and signed by them- ,79 Und et ro et Coordinator v 8 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 3. REPORT OF TIE INDEPENDENT AUDITORS ON TIE SOUTH SUDAN - EASTERN AFRICA REGIONAL TRANSPORT, TRADE AND DEVELOPMENT FACILITATION PROGRAM REPORT ON FINANCIAL STATEMENTS We have audited the accompanying financial statements of the South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program, set out on pages 1 to 10 which comprise the statement of receipts and payments for the financial year/period ended June 30, 2017, and a summary of significant accounting policies and other explanatory notes. Responsibility for the Financial Statements The Undersecretary of the Ministry of Roads and Bridges and the Project Coordinator for South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program are responsible for the preparation and fair presentation of these financial statements in accordance with International Public Sector Accounting Standards (IPSAS). This responsibility includes designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error, selecting and applying appropriate accounting policies, and making accounting estimates that are reasonable in the circumstances. Auditor's Responsibility Our responsibility is to express an independent opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance 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 depended on our professional judgement, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we considered the internal controls relevant to the company's preparation and fair presentation of the financial statements in order to design audit procedures that were appropriate ih the circumstances, but not for the purpose of expressing an opinion on the company's internal controls. An audit also includes evaluating the appropriateness of accounting polices used and the feasonableness of accounting estimates made by the management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion the accompanying financial statements give a true and fair view of the state of financial affairs of the South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program for the financial year/period ended June 30, 2017 in accordance with International Public Sector Accounting Standards (IPSAS). vi 9 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 REPORT ON PROJECT PERFORMANCE AND VALUE FOR MONEY ACHIEVEMENT Based on our audit, we report that nothing came to our attention to indicate substantial non- achievement of value for money objectives. However, we identified a few minor cases of non- achievement of value for money objectives, which have been included in- our separate Management Letter to the Undersecretary for ... and the Project Coordinator. REPORT ON COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS Based on our audit, we report that nothing came to our attention to indicate substantial non-compliance with applicable laws and regulations, as well as essential external financing covenants. However, we identified a few minor cases of non-compliance, which have been included in our separate Management Letter to the Undersecretary for ... and the Project Coordinator. REPORT ON CONTRACTS WITH DEBARRED FIRMS Based on our audit, we report that nothing came to our attention to indicate that debarred firms, both by the government and external financiers, were awarded any contracts under the Project during the financial year/period under review. Auftebeneral, .____________ RE!PUBLICO SOUTH SUDAN Date vii 10 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EAR_TTDFP) Reports and Financial Statements For the financial year ended June 30,2017 4. STATEMENT OF RECEIPTS AND PAYMENTS FOR THE PERIOD ENDED 30TH JUNE 2017 Note Cumulative 2016/17 2015/16 to-date US$ US$ US$ RECEIPTS Loan from external development partners 8.10 154,829 472,271 2,950,833 Total receipts 154,829 472,271 2,950,833 PAYMENTS Component 1 - Upgrading of priority road infrastructure 8.11 - 178,432 998,759 Component 2 - Facilitation of Regional 8.12 64,000 29,862 Transport, Trade and Development 93,862 Component 3 - Institutional Development & Program Management 8.13 190,312 341,749 576,967 Component 4 - Connecting Juba with Fibre Optics 8.14 27,165 53,150 80,315 Transfer of Funds back to IDA off the DA 1,196,557 1,196,557 TOTAL PAYMENTS 1,478,035 603,193 2,946,461 SURPLUS/DEFICIT FOR THE YEAR (1,323,206) (130,922) 4,373 The accounting policies and explanatory notes to these financial statements are an integral part of the financial statements. Underseco. Project ordinator Date Date 11 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 5. STATEMENT OF FINANCIAL ASSETS AND LIABLITIES AS AT 30TI1 JUNE 2017 Note 2016/17 2015/16 US$ US$ FINANCIAL ASSETS Cash and Cash Equivalents Bank Balances 8.15A 4,367 1,458,739 Imprests and Advances 8.1513 6 4,331 TOTAL FINANCIAL ASSETS 4,373 1,463,070 REPRESENTE BY: Cash and cash equivalents b/fwd 1,327,578 1,458,500 Surplus/Deficit for the year (1,323,206) (130,922) Prior year adjustments - - NET FINANCIAL POSITION 4,373 1,327,578 The accounting policies and explanatory notes to these financial statements form an integral part of the financial statements. The financial statements were approved on 2017 and signed by: Undersecretary Project Coordinator Date Date 2 12 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 6. STATEMENT OF CASHIFLOW FOR THE PERIOD 30TH JUNE 2017 2016/17 2015/16 Receipts for operating income USS US$ Transfer from Government entities . Proceeds from domestic and foreign grants Miscellaneous receipts . Payments for operating expenses Compensation of employees (Consultants) 214,921 223,115 Purchase of goods and services 66,557 380,078 Net cash flow from operating activities -281,478 -603,193 CASHFLOW FROM INVESTING ACTIVITIES Acquisition of Assets . - Net cash flows from Investing Activities CASHFLOW FROM BORROWING ACTIVITIES Proceeds from Foreign Borrowings 154,829 472,271 Refund to IDA -1,196,557 - Net cash flow from financing activities - 1,041,728 472,271 NET INCREASE/DECREASE IN CASH AND CASH EQUIVALENT - 1,323,206 - 130,922 Cash and cash equivalent at BEGINNING of the year 1,327,578 1,458,500 Cash and cash equivalent at END of the year 4,373 1,327,578 The accounting policies and explanatory notes to these financial statements form an integral part of the financial statements. The entity financial statements were approved on 2017 and signed by: Underse y ttFt-Projet Coordinator Dat VA Date 3 13 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS- EARTTDFP) Reports and Financial Statements For the financial year ended June 30,2017 7. STATEMENT OF COMPARATIVE BUDGET AND ACTUAL AMOUNTS Actual on Original Final Comparable % of Adjustment Receipts/Payments Item Budget s Budget Basis Variance Variance a b c-a+b d e=d-c f=e/c% Receipts Transfer from Government entities - Proceeds from domestic and foreign grants - - - - Proceeds from borrowings - - 154,829 154,829 Miscellaneous receipts Total Receipts 154,829 154,829 Payments as per categories Category 1 - Goods, works, non-consulting services, consultants services and Trainings 243,424 243,424 - (243,424) - 100 for Part I (b) Category 2 - Goods, works, non-consulting services, consultants services, Trainings & 64,000 64,000 64,000 Operating Costs for Part (2)(a) Category 3 - Goods, works, non-consulting services, consultants services, Trainings & 205,210 205,210 190,312 (14,898) -7 Operating Costs Part (2)b) and 3 - Category 4 - Goods, works, non-consulting services, consultants services, Trainings & 35,425 - 35,425 27,165 (8,260) -23 Operating Costs for Part 4 Category 5 - Refund of Preparation Advance Total Payments 548,059 - 548,059 8 -266,581 -49 Note: The significant budget utilization/performance differences in the last column are explained in Annex 1 to these financial statements. nde Project Coordinator Date, Date 4 14 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 8. NOTES TO THE FINANCIAL STATEMENTS The principal accounting policies adopted in the preparation of these financial statements are set out below: 8.1 Statement of compliance and basis of preparation The financial statements have been prepared in accordance with and comply with International Public Sector Accounting Standards (IPSAS) with particular emphasis on Cash Basis Financial Reporting under the Cash Basis of Accounting. The financial statements are presented in United States Dollars, which is the functional and reporting currency of the Project and all values are rounded to the nearest one Dollar. The accounting policies adopted have been consistently applied to all of the years presented. The financial statements have been prepared on the cash basis following the Government's standard chart of accounts. The cash basis of accounting recognises transactions and events only when cash is received or paid out by the Project. 8.2 Recognition of revenue and expenses The Project recognises all revenues from the various sources when the event occurs and the related cash has actually been received by the Project. In addition, the Project recognises all expenses when the event occurs and the related cash has actually been paid out by the Project. 8.3 In-kind donations In-kind donations are contributions made to the Project in the form of actual goods and/or services rather than in money or cash terms. These donations may include vehicles, equipment or personnel services. Where the financial value of in-kind donations can be reliably determined, the Project includes such value in the statement of receipts and payments both as revenue and as an expense in equal and opposite amounts; otherwise, the donation is not recorded. 8.4 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and cash at bank, short-term deposits on call and highly liquid investments with an original maturity of three months or less, which are readily convertible to known amounts of cash and are subject to insignificant risk of changes in value. Bank account balances include amounts held at the Central Bank of South Sudan and/or at various commercial banks at the end of the financial year/period. For the purposes of these financial statements, cash and cash equivalents also include short term cash imprests and advances to authorised public officers and/or institutions which had not been surrendered or accounted for at the end of the financial year/period. 5 15 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EAR TTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 SIGNIFICANT ACCOUNTING POLICIES (Continued) 8.5 Pending bills --Pending bills consist of unpaid liabilities at the end of the financial year/period arising from contracted goods or services during the year/period or in past years/periods. As pending bills do not involve the payment of cash in the reporting period, they are simply disclosed as an Annex to the financial statements. When the pending bills are finally settled, such payments are included in the statement of receipts and payments in the year in which the payments are made. 8.6 Budget The budget is developed on the same accounting basis (cash basis), the same accounts classification basis, and for the same period as the financial statements. The Project's budget was approved as required by Law and regulations issued by the Ministry of Finance and Economic Planning, as well as by the participating development partners, as detailed in the Government of South Sudan Budget Printed Estimates for the year. A high-level assessment of the Project's actual performance against the comparable budget for the financial year/period under review has been included in an annex to these financial statements. 8.7 Exchange rate differences The accounting records are maintained in United States Dollars, which is the main currency used for major payments under the Project. A smaller percentage of payments are however made in the South Sudanese Pound (SSP). Those transactions are converted into the United States Dollars using the exchange rates prevailing at the dates of the transactions. Any foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in the local currency are recognised in the statements of receipts and payments. 8.8 Comparative figures Where necessary comparative figures for the previous financial year/period have been amended or reconfigured to conform to the required changes in financial statement presentation. 8.9 Subsequent events There have been no events subsequent to the financial year/period end with a significant impact on the financial statements for the year ended June 30, 2017.. 6 16 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 8.10 LOAN FROM EXTERNAL DEVELOPMENT PARTNERS During the 12 months to 30 June 2017 we received funding from development partners in form of loans negotiated by the National Treasury donors as detailed in the table below: Loans mot n. LAns receiv d Name of Donor Date received loan received. . Total aniout in USD .as direct currency in cash pyment* F Y F Y 2015/1 "R USS USS us$ -.US$ Loans Received from Bilateral Donors (Foreign Governments) Loans Received from Multilateral Donors (International Organizations) International Development Association (IDA) SSEARTTDP WA 07/2016 17-Nov-16 11,013 SSEARTTDP WA 08/2016 17-Nov-16 2,023 2,790 SSEARTTDP WA 011/2016 17-Nov-16 9,177 12,500 SSEARTTDP WA 012/2016 14-Dec-16 9,232 12,500 SSEARTTDP WA 013/2016 22-Dee-16 17,917 24,000 SSEARTTDP WA 014/2016 22-Dec-16 9,587 12,842 SSEARTTDP WA 016/2017 10-Feb-17 9,274 12,557 SSEARTTDP WA 017/2017 9-Mar-17 7,764 10,454 SSEARTTDP WA 019/2017 1-Jun-17 28,886 40,000 SSEARTTDP WA 020/2017 21-Jun-17 8,839 12,186 Sub-total 113,711 154,829 154,829 472,271 Total 1 154,829 472,271 7 17 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EAR_TTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 NOTES TO THE FINANCIAL STATEVIENTS (Continued) 8.11 COMPONENT 1 (Upgrading of priority road infrastructure) 2016/17 2015/16 Cumulative Us$ US$ us$ Goods, works, non-consulting services, - 178,432 998,759 consultants services and Trainings for Part I (b) Goods, works, non-consulting services, - - consultants services, Trainings & Operating Costs for Part (2)(a) Goods, works, rdon-consulting services, - consultants services, Trainings & Operating Costs Part (2)(b) and 3 Goods, works, non-consulting services, - consultants services, Trainings & Operating Costs for Part 4 Refund of Preparation Advance - - - Total - 178,432 998,759 8.12 COMPONENT 2 (Facilitation of Regional Transport, Trade and Development) 2016/17 2015/16 Cumulative USS US$ Us$ Goods, works, non-consulting services, - -- consultants services and Trainings for Part I (b) Goods, works, non-consulting services, 64,000 29,862 93,862 consultants services, Trainings & Operating Costs for Part (2)(a) Goods, works, non-consulting services, - - consultants services, Trainings & Operating Costs Part (2)(b) and 3 Goods, works, non-consulting services, - - consultants services, Trainings & Operating Costs for Part 4 Refund of Preparation Advance - - Total 64,000 29,862 93,862 8 18 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30, 2017 NOTES TO THE FINANCIAL STATEMENTS (Continued) 8.13 COMPONENT 3 (Institutional Development & Program Management) 2016/17 2015/16 Cumulative USS Uss USS$ Goods, works, non-consulting services, - - consultants services and Trainings for Part I (b) Goods, works, non-consulting services, - - - consultants services, Trainings & Operating Costs for Part (2)(a) Goods, works, non-consulting services, 190,312 341,749 574,059 consultants services, Trainings & Operating Costs Part (2)(b) and 3 Goods, works, non-consulting services, - - consultants services, Trainings & Operating Costs for Part 4 Refund of Preparation Advance - -- Total 190,312 341,749 574,059 8.14 COMPONENT 4 (Connecting Juba with Fibre Optics) 2016/17 2015/16 Cumulative Goods, works, non-consulting services, US$ US$ USS consultants' services and Trainings for Part - - 1 (b) Goods, works, non-consulting services, consultants' services, Trainings & Operating - - Costs for Part (2)(a) Goods, works, non-consulting services, consultants' services, Trainings & Operating - Costs Part (2)(b) and 3 Goods, works, non-consulting services, consultants' services, Trainings & Operating 27,165 53,150 80,315 Costs for Part 4 Refund of Preparation Advance Total 27,165 53,150 80,315 9 19 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30,2017 NOTES TO THE FINANCIAL STATEMENTS (Continued) 8.15 CASH AND CASH EQUVALENTS CIFWD 2016/17 2015/16 US$ US$ Bank accounts (Note 8.1 SA) 4,367 1,323,247 Outstanding imprests and advances (Note 8.1 5B) 6 4331 4,373 1,327,578 8.15A CASH AND CASH EQUIVALENTS C/FWD (Continued) 2016/17 2015/16 US$ US$ Bank Accounts Foreign Currency Accounts CFC Stanbic Bank [A/cNo.0200000062595] 3,505 1,323,008 Total Foreign Currency balances 3,505 1,323,008 Local Currency Accounts CFC Stanbic Bank [A/c No.02000000908821 862 239 Total local currency balances 862 239 Total bank account balances 4,367 1,323,247 *USD862.15 in the Local currency account is equivalent to SSP110,355.76 Note: The huge variance is attributable to the July 2016 crisis which balted the operationalization of the Project. 20 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30,2017 8.15B Outstanding Imprests and Advances Due Date Amount Du Amount Balance Balance Name of Officer or Institution Tknof Surned 20/17 0116 Taken Sredr Surrendered 2016/17 2015/16 _______________________ _________ Surrender ______ South Sudan Customs PIU 1,091 1,085 5.80 1,449 M RBI/P ff - 1,853 MCTPS - 1,029 1,091 1,085 5.80 4331 8.16 PENDING BILLS (Annex 2) 2016/17 2015/16 US$ US Supply of services 275,587 289,311 275,587 289,311 8.17 PENDING WAGE BILLS (Annex 2) 2016/17 2015/16 US$ US$ Consultants 44,566 223,484 44,566 223,484 21 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30,2017 8.18 ANNEX 1: VARIANCE EXPLANATIONS:COMPARATIVE BUDGET & ACTUAL AMOUNTS Actual on Budget % of Utilisation Final Compara Utilisation Variance to Final Budget ble Basis Variance Budget Comments on Variance a b c=a-b d=c/a % RECEIPTS DVUNG THiE YEAR/PERIOD _ _ ____ Government of the Republic of South Sudan - - - At the start ofthe FY2016/17 the project had enough funds on account and never expected External financing 154,829 154,829 100 any addition receipt this year. However refund offunds held on account and a shif to direct payment explains the varIance In-kind donations - - - Miscellaneous receipts - - - - Total receipts Goods, works, non-consulting services, Nopayment has been made to IMC as had consultants services and Trainings for Part 1 (0b) been planned Goods, works, non-consulting services, consultants services, Trainings & Operating 64,000 64,000 - - Costs for Part (2)(a) Goods, works, non-consulting services, consultants services, Trainings & Operating 205,210 190,312 - 14,898 - 7 Costs Part (2)(b) and 3 Goods, works, non-consulting services, consultants services, Trainings & Operating 35,425 27,165 - 8,260 - 23 Costs for Part 4 Refund of Preparation Advance Total payments 548,059 281,478 -266,581 - 49 11 22 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30,2017 8.19 ANNE X 2 - ANALYSIS OF PENDING BILLS Original Outstanding Comments Aontl Outstanding Balance AUnt) Amount Paid Balance (US$) (US$) Budget item description (USS) To-Date (US$) 2016/17 2015/16 COMPONENT Component 1- Upgrading of priority road infrastructure Goods, works, non-consuling services, consultants services and Trainings for Part 1 (b) IMC Wor&widetd (GBP 586,625 andpaid GBP346,470 00) 846,945 571,358 275,587 289,311 Payment to IMC yet to be effected Component 2- Facilitation of Regional Transport, Trade and Development Goods, works, non-consulting services, consultants services, Trainings & Operating Costs for Part (2) (a) Cunninham Bert Clair- GatomsAdvisor on Hman Resources 98,300 93,862 4,438 68,438 Contract closed 98,9309362 *43 5668M,438 Sub-total Component2 _____ ____________ Component 3- Institutional Development & Program Management Goods, works, non-consulting services, consultants services, Trainings & Operating Costs Part (2) and 3 Leonard Kavvombe-Fin MgSpecialart 349,900_ 30 5,334 44,566 119,621 349,900 35344566 1,1 Component 4- Connectlng Juba with Fibre Optics Goods, works, non-consulting services, consultants services, Tra in ings & Operain Costs fo r Part 4 Peter Lgne (A -ICT Spedalt) 42,545 39,492 3,053 5,843 Contract closed Muhammad Shamsur Rahman - Legal & Commerial-Exer6 40,823 5,207 29,582 Contract closed 12 23 South Sudan - Eastern Africa Regional Transport, Trade and Development Facilitation Program (SS-EARTTDFP) Reports and Financial Statements For the financial year ended June 30,2017 Sub-total 88,575 80,3158460 35,425- Grand Totil 1238,7 5 24