CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN …documents.worldbank.org/.../CARCIP-Jul2018stm-final... · The period for final disbursement of the Grant resources shall expire three

CARIBBEAN TELECOMMUNICATIONS UNION

CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTUREPROGRAM (CARCIP)

GRANT NO. H772-6R

31 JULY 2018

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CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM(CARCIP)

GRANT NO. H772-6R

TABLE OF CONTENTS

INDEPENDENT AUDITORS’ OPINION..................................................................................... 1

STATEMENT OF SOURCES AND USES OF FUNDS............................................................... 4

STATEMENT OF CUMULATIVE INVESTMENTS .................................................................. 5

NOTES TO THE FINANCIAL STATEMENTS........................................................................... 6

DESIGNATED ACCOUNT RECONCILIATION STATEMENT ............................................. 19

RECONCILIATION OF THE DESIGNATED BANK ACCOUNTTO THE STATEMENT OF SOURCES AND USES OF FUNDS 31 JULY 2018 ..................... 20

SCHEDULE OF WITHDRAWAL APPLICATIONS ................................................................. 21

INDEPENDENT AUDITORS’ REPORT ON COMPLIANCE WITHTHE FINANCING AGREEMENT .............................................................................................. 22

REPORT ON AGREED-UPON PROCEDURES ON USES OF FUNDS .................................. 23

LIST OF STATEMENT OF DISBURSEMENT REQUESTS ISSUED TO THE IDA .............. 26

LETTER OF REPRESENTATION.............................................................................................. 28

1.

INDEPENDENT AUDITORS’ OPINION

To: Project Coordinating UnitCaribbean Telecommunications Union

Caribbean Telecommunications UnionCaribbean Regional Communications Infrastructure Program (CARCIP)The International Development Association (IDA) Grant No. H772-6R

Opinion

We have audited the accompanying financial statements of the Caribbean TelecommunicationsUnion - Caribbean Regional Communications Infrastructure Program (CARCIP) IDA Grant No.H772-6R executed by the Program Coordinating Unit, Caribbean Telecommunications Unionand financed with funds from the International Development Association Grant No. H772-6R,which comprises the Statement of Sources and Uses of Funds and the Statement of CumulativeInvestments for the thirteen-month period from 1 July 2017 to 31 July 2018, and a summary ofsignificant accounting policies.

In our opinion, the financial statements referred to above, present fairly in all material respectsthe Sources and Uses of Funds and Cumulative Investments of the CaribbeanTelecommunications Union - Caribbean Regional Communications Infrastructure Program(CARCIP) IDA Grant No. H772-6R executed by Caribbean Telecommunications Union as atand for the thirteen-month period ended 31 July 2018, in accordance with World Bank FinancialManagement Practices in World Bank Financial Investment Operations.

Basis for Opinion

We conducted our audit in accordance with International Standards on Auditing (“ISAs”). Ourresponsibilities under those standards are further described in the Auditors’ Responsibilities forthe Audit of the Financial Statements section of our report. We are independent of the Programin accordance with the International Ethics Standards Board for Accountants’ Code of Ethics forProfessional Accountants (“IESBA Code”), and we have fulfilled our other ethicalresponsibilities in accordance with the IESBA Code. We believe that the audit evidence we haveobtained is sufficient and appropriate to provide a basis for our opinion.

Telephone: (868) 235-5063Address: 111 Eleventh Street, Barataria, Trinidad, West IndiesMailing Address: PO Box 10205, Eastern Main Road, San Juan

Partners: Renée-Lisa Philip Mark K. Superville

2.

INDEPENDENT AUDITORS’ REPORT (CONT’D)

Emphasis of Matter

We draw attention to Note 2 to the financial statements, which describes the basis of preparationof the financial statements. As described in Note 2 (a) iii, no provision has been made fordepreciation. This is not in conformity with International Public Sector Accounting StandardNo. 17 – Property, Plant and Equipment and therefore is not in conformity with World BankFinancial Management Practices in World Bank Financial Investment Operations, Statements ofSources and Uses of Funds do not traditionally incorporate depreciation as a use of funds.Nonetheless, it is the practice when accounts are prepared using the cash basis.

Additionally, International Public Sector Accounting Standard No. 1 – Presentation of FinancialStatements require financial statements to be prepared on a going concern basis. Because theCaribbean Telecommunications Union - Caribbean Regional Communications InfrastructureProgram (CARCIP) IDA Grant No. H772-6R executed by the Program Coordinating Unit is afinite program (to be implemented over a five (5) year period), the going concern basis ofaccounting is not relevant to the preparation and fair presentation of these financial statements.

Our opinion is not modified in respect of these matters.

Responsibilities of the Program Coordinating Unit, Caribbean Telecommunications Unionfor the Financial Statements

The Program Coordinating Unit, Caribbean Telecommunications Union is responsible for thepreparation and fair presentation of the financial statements in accordance with World BankFinancial Management Practices in World Bank Financial Investment Operations and for suchinternal control as the Program Coordinating Unit determines is necessary to enable thepreparation of financial statements that are free from material misstatement, whether due to fraudor error.

Auditors’ Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as awhole are free from material misstatement, whether due to fraud or error, and to issue anauditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, butis not a guarantee that an audit conducted in accordance with ISAs will always detect a materialmisstatement when it exists. Misstatements can arise from fraud or error and are consideredmaterial if, individually or in the aggregate, they could reasonably be expected to influence theeconomic decisions of users taken on the basis of these financial statements.

5.


CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAMGRANT NO. H772-6R

STATEMENT OF CUMULATIVE INVESTMENTS

for the thirteen-month period from 1 July 2017 to 31 July 2018(Expressed in United States Dollars)

Categories

Current Period1 July 2017 to31 July 2018

US$

Current YearCumulative for the

Period Ended31 July 2018

US$

Prior YearCumulative Period

Ended30 June 2017

US$

Category 1

Category 2

Category 3

Category 4

Total Expenditure

Actual

-

-

-

522,572

522,572

Actual

608,224

127,422

556,214

1,329,763

2,621,623

Actual

608,224

127,422

556,214

807,191

2,099,051

Other Expenses 5,654 23,776 18,122

Grand Total 528,226 2,645,399 2,117,173

Other Expenses:

(Gain)/loss on foreign exchange (1,582) 3,174 4,756Bank charges net of interest received 883 3,604 2,721Penalties and interest 2,786 4,973 2,187Vat expenses 3,567 12,025 8,458

5,654 23,776 18,122

Effective September 2016, the World Bank, having reviewed the performance of the Programagreed to accumulate further expenditure under the above categories, into a new Category 4.

(The accompanying notes form part of these financial statements)

6.



NOTES TO THE FINANCIAL STATEMENTS

(Expressed in United States Dollars)

31 July 2018

1. Description of Program:

On 26 June 2012, the Caribbean Telecommunications Union (CTU) signed Grant No.H772-6R with the International Development Association (IDA) of the World Bank tofinance the Caribbean Regional Communications Infrastructure Program (CARCIP). TheProgram’s effective start date was 15 April 2013 and the total grant was US$3,000,000.

The Caribbean Telecommunications Union (CTU) is the Project Coordinating Unit(PCU) for the Program with specific responsibility for planning and coordinatingprogram activities.

The Information Communications Technology (ICT) sector in the Caribbean faces manychallenges such as highly fragmented markets and uneven distribution of resources. Tomitigate these challenges, the Caribbean Community (CARICOM) developed a RegionalDigital Development Strategy (RDDS), aimed at harmonising efforts towards fast-tracking the formation of a CARICOM Information Society by 2019. RDDS is alsointended to address key policy and regulatory bottlenecks which constrain the use of ICTto stimulate growth in the CARICOM region. The key objectives of the Strategy are to:

(a) establish a modern, regional, regulatory and open telecommunicationsinfrastructure with affordable networks using converged technologies;

(b) build a digital community culture and increase the value and volume of theregion’s trained ICT workforce;

(c) use ICT to demonstrate good governance and increase efficiency in operations;(d) establish a culture of innovation and quality, and enable sustainable production of

regional digital goods and services; and(e) guide businesses and governments to use ICT for sustainable growth and support

social development objectives through partnerships.

7.





31 July 2018

1. Description of Program (Cont’d):

Having recognized the many challenges faced by the ICT Sector in the Caribbeanincluding policy and regulatory bottlenecks, the IDA of the World Bank and stakeholderswithin the region designed CARCIP. The participants in this program are St. Vincent andthe Grenadines, Grenada and St. Lucia. The Program supports a regional approachtoward addressing the challenges through a holistic ICT-enabled developmentframework, strongly anchored in CARICOM’s regional ICT agenda. The main objectiveof the program is to increase access to broadband networks, and advance the developmentof an ICT-enabled services industry in the Caribbean.

The Program has three components to be implemented concurrently:

(a) Support for regional connectivity infrastructure. This component includes supportfor developing:

(i) physical connectivity infrastructure, and(ii) policy, legal, regulatory and institutional support.

(b) ICT-led innovation through activities that will leverage the regional broadbandinfrastructure to foster growth of the regional Information Technology/Information Technology Enabled Services (ITES).

(c) Implementation support that encompasses institutional and capacity building, aswell as monitoring and evaluation.

8.





31 July 2018

2. Significant Accounting Policies:

(a) Basis of preparation -

(i) The financial statements have been prepared in accordance with WorldBank Financial Management Practices in World Bank Financial InvestmentOperations.

(ii) The Statement of Sources and Uses of Funds have been prepared on a cashbasis. The cash basis is a comprehensive basis of accounting which doesnot take into consideration accruals of receipts or expenses not yet paid.On this basis, Grant disbursements are recognised when received andexpenses are recognised when paid. This basis is in conformity with WorldBank Financial Management Practices in World Bank Financial InvestmentOperations, which comply with International Public Sector AccountingStandards.

(iii) No account has been taken of depreciation on fixed assets. This basis ofaccounting is not in conformity with International Public SectorAccounting Standard No. 17 - Property, Plant and Equipment and thereforeis not in conformity with World Bank Financial Management Practices inWorld Bank Financial Investment Operations. Nonetheless, it is in keepingwith the cash basis of accounting as described in Note 2 (a) (ii).

(iv) Cash disbursements and costs incurred have been presented in conformitywith the cost budget allocation contained in Annex (A) of the contractbetween the CTU and the IDA.

(v) Funding is recognised on a cash basis.

9.





31 July 2018

2. Significant Accounting Policies (Cont’d):

(b) Foreign currency translation -

(i) All receipts other than in the reporting currency have been translated at therate of exchange of Trinidad and Tobago dollar of $6.60.

(ii) All payments other than those in the reporting currency have beentranslated at the rate of exchange of Trinidad and Tobago dollar of $6.60.

(iii) Transfers from the US Dollar Account to the TT Dollar Account arerecorded at the banks buying rate on the day of the transfer.

(iv) Payments under contracts, which state an agreed rate of exchange, uses thatrate to record the transactions and to report the expenditures in the reportingcurrency.

(v) The World Bank’s policy is that expenditures should be recorded at thesame rate at which transfers are made from the US Dollar Account to theTT Dollar Account.

(c) Reporting Currency -

These financial statements are presented in United States dollars. The financialstatements are maintained by the PCU in Trinidad and Tobago dollars. Conversioninto United States dollars is done in accordance with the procedures indicated inNote 2 (b) above.

10.





31 July 2018

3. Disbursement Period:

The period for final disbursement of the Grant resources shall expire three (3) years andten (10) months from the effective date of the Grant. The final date of disbursement was1 February 2017. During the current period the final disbursement date as agreed with theWorld Bank was changed from 1 August 2018 to 28 February 2019.

4. Funding:

The funding for the Program is allocated as follows:

US$

The Caribbean Telecommunications UnionEastern Caribbean Telecommunications AuthorityCaribbean Knowledge and Learning Network

1,500,000600,000900,000

3,000,000

US$

Component 1 Regional Connectivity InfrastructureComponent 2 ICT – Led InnovationComponent 3 Implementation support – Incremental Operating Cost

1,500,000600,000900,000

3,000,000

11.





31 July 2018

5. Cash and Bank:

31 July2018US$

30 June2017US$

Cash on Hand TTDCash on Hand USDRBC Royal Bank TTDRBC Royal Bank USD

152,6332,843

34,194

39,685

15925

2,153184,818

187,911

6. Financing:

Commitment charges on the un-withdrawn financing balance of the Grant become due andpayable semi-annually on 15 February and 15 August each year. As per the agreement,these charges shall be a half of one percent (1/2%) per annum, at the discretion of theWorld Bank.

12.





31 July 2018

7. Disbursements:

The following represents disbursements executed as at 31 July 2018:

Disbursements to30 June 2017

US$

Disbursements inperiod

US$

Disbursements to31 July 2018

US$CONTRACTS

Regional ConnectivityInfrastructure

ICT-Led Innovation

Implementation Support

Total disbursements

Other Expenses

Total

1,175,951

150,493

772,607

2,099,051

18,122

2,117,173

345,841

23,388

153,343

522,572

5,654

528,226

1,521,792

173,881

925,950

2,621,623

23,776

2,645,399

Analysis of Other Expenses:

(Gain)/loss on Foreignexchange

Bank charges Net of Interestreceived

Penalties and InterestVat expenses

Total

4,756

2,7212,1878,458

18,122

(1,582)

8832,7863,567

5,654

3,174

3,6044,973

12,025

23,776

13.





31 July 2018

7. Disbursements (Cont’d):

The following are the disbursements executed as at 30 June 2017:

Disbursements to1 January 2016

US$

Disbursements inperiod

US$

Disbursements to30 June 2017

US$CONTRACTS

Regional ConnectivityInfrastructure

ICT-Led Innovation

Implementation Support

OTHER

Total

604,920

111,513

575,427

1,291,860

9,078

1,300,938

571,031

38,980

197,180

807,191

9,044

816,235

1,175,951

150,493

772,607

2,099,051

18,122

2,117,173

Analysis of Other Expenses:

(Gain)/loss on Foreignexchange

Bank charges Net of Interestreceived

Penalties and InterestVat expenses

Total

(2,841)

2,1031,9727,844

9,078

7,597

618215614

9,044

4,756

2,7212,1878,458

18,122

14.


CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM GRANT NO. H772-6R



31 July 2018

8. Commitments:

The following is a status of the contract commitments which were in execution as at 31 July 2018:

Contractsas at

1 July2017US$

NewContracts

in theperiod

US$

Contractsas at

31 July2018US$

\\\\\\\\\\\\

Disbursedas at

1 July2017US$

Disbursementin period

US$

Disbursedas at

31 July2018US$

\\\\\\\\\\\\

TerminatedBalance

as at1 July2017US$

Terminationsin period

US$

TerminatedBalance

as at31 July

2018US$

\\\\\\\\\\\\

CommittedAmount

US$

RegionalConnectivityInfrastructure

ICT-LedInnovation

ImplementationSupport

Total

1,482,500

49,846

727,375

2,259,721

107,514

-

147,476

254,990

1,590,014

49,846

874,851

2,514,711

\\\\\\\\\\\\\\\\\\\\

947,664

36,434

612,363

1,596,461

299,964

10,896

166,078

476,938

1,247,628

47,330

778,441

2,073,399

\\\\\\\\\\\\\\\\\\\\

175,600

-

46,164

221,764

-

2,516

-

2,516

175,600

2,516

46,164

224,280

\\\\\\\\\\\\\\\\\\\\

166,786

-

50,246

217,032

15.


CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM GRANT NO. H772-6R



31 July 2018

8. Commitments (Cont’d):

The following is a status of the contract commitments which were in execution as at 30 June 2017:

Contractsas at

1January

2016US$

NewContractsin period

US$

Contractsas at

30 June2017US$

\\\\\\\\\\\\

Disbursedas at

1 January2016US$

Disbursedin period

US$

Disbursedas at

30 June2017US$

\\\\\\\\\\\\

TerminatedBalance

as at1 January

2016US$

Terminationsin period

US$

TerminatedBalance

as at30 June

2017US$

\\\\\\\\\\\\

CommittedAmount

US$

RegionalConnectivityInfrastructure

ICT-LedInnovation

ImplementationSupport

Total

1,085,145

-

537,501

1,622,646

397,355

49,846

189,874

637,075

1,482,500

49,846

727,375

2,259,721

\\\\\\\\\\\\\\\\\\\\

490,462

-

424,904

915,366

457,202

36,434

187,459

681,095

947,664

36,434

612,363

1,596,461

\\\\\\\\\\\\\\\\\\\\

175,600

-

-

175,600

-

-

46,164

46,164

175,600

-

46,164

221,764

\\\\\\\\\\\\\\\\\\\\

359,236

13,412

68,848

441,496

16.





31 July 2018

9. Direct Payments Made by IDA:

There were no direct payments made by the IDA during the period under review.

10. Fixed Assets:

Fixed assets are stated at cost and no depreciation is charged. Although this is not inaccordance with International Public Sector Accounting Standard No. 17 – Property,Plant and Equipment and therefore is not in conformity with World Bank FinancialManagement Practices in World Bank Financial Investment Operations, it is the practicewhen accounts are prepared using the cash basis as described in Note 2(a). Assetspurchased during the period reported (Value Added Tax inclusive) are given below:

31 July2018$US

30 June2017$US

Computer EquipmentFurniture and Fittings

4,0128,829

12,841

5,4518,829

14,280

17.





31 July 2018

10. Fixed Assets:

LISTING AS AT 31 JULY 2018

DATE DESCRIPTION INVOICE#

CHQ# COST

COMPUTER & EQUIPMENT

28-Jun-13 MB - Item: 060-WDBACW0030 - EXT HARD DRIVE, MY BOOIK 3TB USB 32880 139 19828-Jun-13 MB - Item: 240-2344-BNU - 3 LAPTOP THINKPAD T430:

Lenovo think pad SN: PB-7K9LV 32880 139 1,43928-Jun-13 MB - Item: 240-3698-4RU - 2 LAPTOP THINKPAD HELIX:

LTH (convertible)SN: R9-YYKH0 32880 139 2,375

4,012

FURNITURE AND FITTINGS

26-Apr-13 BEI - 4 DRAWER F/CAB, GREY:CUBBY F1304378 126 25626-Apr-13 BEI - BRIDGE, 42"X20":PC F1304378 126 10726-Apr-13 BEI - CREDENZA SHELL 72"X20":PC F1304378 126 21326-Apr-13 BEI - DERBY LEATHER EXEC CHAIR, BLK-PC F1304378 126 36226-Apr-13 BEI - DESK SHELL, 60"X30":PS, FMS, M&E F1304378 126 66026-Apr-13 BEI - DESK SHELL, BOW 72"X36"/42":PC F1304378 126 29626-Apr-13 BEI - HUTCH DOORS SOLID W72":PC F1304378 126 1,25426-Apr-13 BEI - MULTIFUNCTIONAL CHAIR, FABRIC-PS F1304378 126 33326-Apr-13 BEI - PALERMO LEATHER EXEC CHAIR-SW F1304378 126 36226-Apr-13 BEI - PALERMO LEATHER EXEC CHAIR-TP F1304378 126 36226-Apr-13 BEI - PEDESTAL, B/B/F 16"X19"-PC F1304378 126 22026-Apr-13 BEI - PEDESTAL, B/B/F, 16"X19":PC F1304378 126 22026-Apr-13 BEI - PEDESTAL, B/B/F, 16"X19":PS, FMS, M&E F1304378 126 66026-Apr-13 BEI - RETURN, REVERSIBLE, 42"X20":PS, FMS, M&E F1304378 126 38226-Apr-13 BEI - ROUND TABLE 42": BOARD ROOM F1304378 126 16613-Jun-13 BEI - MULTIFUNCTIONAL CHAIR, FABRIC, MARINE COLOUR F1306972 134 99813-Jun-13 BEI - NOVA OP CHAIR, BLK MESH/FABRIC F1306972 134 89926-Jul-13 BEI - 6FEET METAL FILING CABINET-GREY F1307480 144 26926-Jul-13 BEI - BANKER'S LAMP 12WT/60WT F1307480 144 47130-Jul-13 THE OFFICE AUTHORITY - ELECTRIC 3 HOLE PUNCH I067882 145 11130-Jan-14 THE OFFICE AUTHORITY - FLIP CHART EASEL I085502 172 228

8,829

Total 12,841

BEI - BUSINESS EQUIPMENT INTERIORSMB - MEMORY BANKLTH - Lenovo ThinkPad Helix

ALL PURCHASES WERE MADE IN ACCORDANCE WITH THE WORLD BANK'S PROCUREMENT GUIDELINES.

18.





31 July 2018

10. Fixed Assets (Cont’d):

LISTING AS AT 30 JUNE 2017

DATE DESCRIPTION INVOICE#

CHQ# COST

COMPUTER & EQUIPMENT

28-Jun-13 MB - Item: 060-WDBACW0030 - EXT HARD DRIVE, MY BOOIK 3TB USB 32880 139 19828-Jun-13 MB - Item: 240-2344-BNU - 3 LAPTOP THINKPAD T430:

Lenovo think pad SN: PB-7K9LV 32880 139 1,439Lenovo think pad SN: PB-7M6DB 32880 139 1,439

28-Jun-13 MB - Item: 240-3698-4RU - 2 LAPTOP THINKPAD HELIX:LTH (convertible) SN: R9-YYKHO 32880 139 2,375

5,451

FURNITURE AND FITTINGS

26-Apr-13 BEI - 4 DRAWER F/CAB, GREY:CUBBY F1304378 126 25626-Apr-13 BEI - BRIDGE, 42"X20":PC F1304378 126 10726-Apr-13 BEI - CREDENZA SHELL 72"X20":PC F1304378 126 21326-Apr-13 BEI - DERBY LEATHER EXEC CHAIR, BLK-PC F1304378 126 36226-Apr-13 BEI - DESK SHELL, 60"X30":PS, FMS, M&E F1304378 126 66026-Apr-13 BEI - DESK SHELL, BOW 72"X36"/42":PC F1304378 126 29626-Apr-13 BEI - HUTCH DOORS SOLID W72":PC F1304378 126 1,25426-Apr-13 BEI - MULTIFUNCTIONAL CHAIR, FABRIC-PS F1304378 126 33326-Apr-13 BEI - PALERMO LEATHER EXEC CHAIR-SW F1304378 126 36226-Apr-13 BEI - PALERMO LEATHER EXEC CHAIR-TP F1304378 126 36226-Apr-13 BEI - PEDESTAL, B/B/F 16"X19"-PC F1304378 126 22026-Apr-13 BEI - PEDESTAL, B/B/F, 16"X19":PC F1304378 126 22026-Apr-13 BEI - PEDESTAL, B/B/F, 16"X19":PS, FMS, M&E F1304378 126 66026-Apr-13 BEI - RETURN, REVERSIBLE, 42"X20":PS, FMS, M&E F1304378 126 38226-Apr-13 BEI - ROUND TABLE 42": BOARD ROOM F1304378 126 16613-Jun-13 BEI - MULTIFUNCTIONAL CHAIR, FABRIC, MARINE COLOUR F1306972 134 99813-Jun-13 BEI - NOVA OP CHAIR, BLK MESH/FABRIC F1306972 134 89926-Jul-13 BEI - 6FEET METAL FILING CABINET-GREY F1307480 144 26926-Jul-13 BEI - BANKER'S LAMP 12WT/60WT F1307480 144 47130-Jul-13 THE OFFICE AUTHORITY - ELECTRIC 3 HOLE PUNCH I067882 145 11130-Jan-14 THE OFFICE AUTHORITY - FLIP CHART EASEL I085502 172 228

8,829

Total 14,280

BEI - BUSINESS EQUIPMENT INTERIORSMB - MEMORY BANKLTH - Lenovo ThinkPad Helix

ALL PRCHASES WERE MADE IN ACCORDANCE WITH THE WORLD BANK'S PROCUREMENT GUIDELINES.

20.



RECONCILIATION OF THE DESIGNATED BANK ACCOUNTTO THE STATEMENT OF SOURCES AND USES OF FUNDS


31 July 2018

Thirteen-monthperiod ended31 July 2018

($)

Eighteen-monthperiod ended30 June 2017

($)

Designated Bank Account Balance

Net cash available per Statement of Sources and Uses of Funds

34,194

34,194

184,818

184,818

21.


CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM

GRANT NO. H772-6R

SCHEDULE OF WITHDRAWAL APPLICATIONS


31 July 2018

AmountApplied

JustificationSubmitted

PaidAmount

JustificationApproved

DateReceived

ValueDate

DateClosed

480,000 - 480,000 - 27-May-13 03-Jun-13 03-Jun-13

- 373,382 - 373,382 05-Jun-14 27-Jun-14 27-Jun-14

375,000 - 375,000 - 14-Jul-14 13-Aug-14 13-Aug-14

- 238,534 - 238,534 22-Jun-15 7-Jul-15 7-Jul-15

243,084 - 243,084 - 17-Jul-15 23-Jul-15 23-Jul-15

- 428,811 - 428,811 16-Oct-15 19-Oct-15 19-Oct-15

450,000 - 450,000 - 16-Oct-15 21-Oct-15 21-Oct-15

- 335,363 - 335,363 16-May-16 21-May-16 21-May-16

257,000 - 257,000 - 16-Jun-16 22-Jun-16 22-Jun-16

- 338,749 - 338,749 19-Dec-16 21-Dec-16 21-Dec-16

500,000 - 500,000 - 19-Dec-16 21-Dec-16 21-Dec-16

- 389,328 - 389,328 18-Aug-17 19-Sept-17 19-Sept-17

250,000 - 250,000 - 24-Oct-17 27-Oct-17 27-Oct-17

- 246,889 - 246,889 9-Apr-18 18-Apr-18 18-Apr-18

130,000 - 130,000 -

2,685,084 2,351,056 2,685,084 2,351,056

22.

INDEPENDENT AUDITORS’ REPORT ON COMPLIANCE WITHTHE FINANCING AGREEMENT AND APPLICABLE LAWS AND REGULATIONS

To: Project Coordinating UnitCaribbean Telecommunications Union


We have audited the financial statements of the Caribbean Telecommunications Union - CaribbeanRegional Communications Infrastructure Program (CARCIP) IDA Grant No. H772-6R executed bythe Program Coordinating Unit, Caribbean Telecommunications Union and financed with funds fromthe International Development Association Grant No. H772-6R, which comprise the Statement ofSources and Uses of Funds, Statement of Cumulative Investments and Designated AccountReconciliation Statement for the thirteen-month period from 1 July 2017 to 31 July 2018, andsummary of significant accounting policies. These statements are the responsibility of the ProjectCoordinating Unit, Caribbean Telecommunications Union, and we have issued our report thereondated 28 November 2018.

In relation to our audit, we determined compliance with the Financing Agreement, and the provisionsestablished in the Program’s Implementation Manual of Grant Contract No. H772-6R as of 31 July2018. We planned and performed the audit to obtain reasonable assurance that the CaribbeanTelecommunications Union - CARCIP Program complied with the pertinent Grant contractualclauses, applicable laws and regulations, and the provisions contained in the Program’s FinancingAgreement and Implementation Manual. The audit includes examining, on a test basis, theappropriate evidence. We believe that our audit provides a reasonable basis for our opinion.

Nothing has come to the attention of the auditors to suggest non-compliance or any other violationson the part of the Project Coordinating Unit, Caribbean Telecommunications Union, with respect toProgram’s Financing Agreement and Implementation Manual and Applicable Laws and Regulations.

BaratariaTrinidad and Tobago28 November 2018


Partners: Renée-Lisa Philip, Mark K. Superville

23.

REPORT ON AGREED-UPON PROCEDURESON

USES OF FUNDS

To: Program Coordinating UnitCaribbean Telecommunications Union


We have performed the procedures agreed with you that are enumerated below with respect to two(2) disbursement requests made to the IDA by the Project Coordinating Unit – CaribbeanTelecommunications Union - CARCIP Program IDB Grant No. H772-6R made during the thirteen-month period from 1 July 2017 to 31 July 2018 and set forth in the accompanying annex. Ourengagement was undertaken in accordance with the International Standard on Related Servicesapplicable to agreed–upon procedures engagements. The procedures were performed solely to assistyou in evaluating the validity of the two (2) disbursement requests and are summarised as follows:

1. We obtained and checked the date, use and amount of the disbursement requests against theProject Coordinating Unit’s records.

2. We verified for each payment, the existence of appropriate supporting documentation inaccordance with the procurement procedures.

3. We verified the receipt of payments by the intended recipients, and evidence of such outlaysin the Project Coordinating Unit’s accounting records.

4. We reviewed the payments for the procurement of goods other than works, to verifycompliance with internal control policies.

5. We reviewed each expense for eligibility based on the Eligibility of Expenditure in WorldBank Lending.


Partners: Renée-Lisa Philip, Mark K. Superville

24.

REPORT ON AGREED-UPON PROCEDURESON

USES OF FUNDS(CONTINUED)

We report our findings below:

a. With respect to procedure 1, disbursements were properly recorded in the accounting records,in terms of date, use and amount.

b. With respect to procedure 2, there was appropriate supporting documentation in accordancewith the procurement and internal control policies and procedures.

c. With respect to procedure 3, all payments were received by beneficiaries and there wasevidence of such outlays in the Project Coordinating Unit’s accounting records.

d. With respect to procedure 4, the procurement of goods other than services was in compliancewith internal control policies.

e. With respect to procedure 5, the expenses reviewed for the period were eligible based on theEligibility of Expenditure in World Bank Lending.

Because the above procedures do not constitute either an audit or a review made in accordance withInternational Standards on Auditing or International Standards on Review Engagements, we do notexpress any assurance on the Disbursement Requests as set forth in the accompanying annex, or onthe disbursements taken individually or as a whole.

Had we performed additional procedures or had we performed an audit or review in accordance withInternational Standards on Auditing or International Standards on Review Engagements, othermatters might have come to our attention that would have been reported to you.

Our report is solely for the purpose set forth in the first paragraph of this report and for yourinformation and is not to be used for any other purpose or to be distributed to any other parties. Thisreport relates only to the Disbursement Requests included in the accompanying annex and does notextend to the financial statements of the Caribbean Telecommunications Union - Caribbean RegionalCommunications Infrastructure Program (CARCIP) IDA Grant No. H772-6R taken as a whole.

BaratariaTrinidad and Tobago28 November 2018

25.



ANNEX


List of Disbursement Requests issued during the period 1 July 2017 to 31 July 2018

REQUEST NO. REQUESTAMOUNT

AMOUNTDISALLOWED

AMOUNTRECORDED IN GL

6 389,328 - 389,3287 246,889 - 246,889

List of Disbursement Requests issued during the period 1 January 2016 to 30 June 2017

REQUEST NO. REQUESTAMOUNT

AMOUNTDISALLOWED


4 335,363 - 335,3635 338,749 - 338,749

26.



LIST OF STATEMENT OF DISBURSEMENT REQUESTSISSUED TO THE IDA


List of Disbursement Requests issued as at 31 July 2018

REQUEST NO.REQUESTAMOUNT

AMOUNTDISALLOWED


1 388,574 (15,192) 373,3822 238,534 - 238,5343 428,811 - 428,8114 335,363 - 335,3635 338,749 - 338,7496 389,328 - 389,3287 246,889 - 246,889

List of Disbursement Requests issued as at 30 June 2017

REQUEST NO.REQUESTAMOUNT

AMOUNTDISALLOWED


1 388,574 (15,192) 373,3822 238,534 - 238,5343 428,811 - 428,8114 335,363 - 335,3635 338,749 - 338,749

Documents

CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN …documents.worldbank.org/.../CARCIP-Jul2018stm-final... · The period for final disbursement of the Grant resources shall expire three