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FINANCIAL SCHEDULES Moldova Energy Sector Reform and
Efficiency Improvements Project
financed under Sida Contribution TF no. 099139
as of and for the twelve months period ended 31 December 2013
prepared in accordance with cash receipt and disbursements basis of accounting
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CONTENTS:
Independent Auditors' Report
Summary of Sources and Users Funds by Category as of31 December 2013
Users Funds by Project Activities as of31 December 2013
Designated Account Statement
Statement of Expenditure ("SoE") Withdrawal schedule for the year ended 31 December 2013
Explanatory Notes to the Financial Schedules of Moldova Energy Sector Reform and Efficiency Improvements Project as of and for the twelve months period ended 31 December 2013
2
3
4
6
KPMG Moldova SRL Str. Stefan eel Mare 202 Et. 9, MD-2004 Chisinau Moldova
Independent Auditors' Report
Tel: +373 (221 580 580 Fax: +373 (221 540 499
www.kpmq.md
To: The Management of Moldova Energy Sector Reform and Efficiency Improvements Project
We have audited the accompanying financial schedules of Moldova Energy Sector Reform and Efficiency Improvements Project, financed under Sida Contribution TF no. 099139 which comprise the Summary of Sources and Users Funds by Category, Users Funds by Project Activities, Designated Account Statement and SOE Withdrawal schedule as at 31 December 2013 and notes, comprising a summary of the accounting policies ("the financial schedules") prepared in accordance with cash receipt and disbursements basis of accounting as described in the Explanatory Notes to the Financial Schedules as of and for the twelve months period ended 31 December 2013.
Management's Responsibility for the Financial Schedules
The management of Moldova Energy Sector Refmm and Efficiency Improvements Project is responsible for the preparation and fair presentation of these financial schedules in accordance with the cash disbursements basis of accounting as described in the Explanatory Notes to the Financial Schedules as of and for the twelve months period ended 31 December 2013 and for such internal control as management determines is necessary to enable the preparation of the financial schedules that are free from material misstatement, whether due to fraud or error.
Auditors ' Responsibility
Our responsibility is to express an opinion on the financial schedules 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 about whether the financial schedules are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial schedules. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the financial schedules, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the entity's preparation and presentation of the financial schedules 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 includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial schedules. 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 schedules.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
<!:)2014 KPMG Moldova SAL, a Moldovan l1m1ted liabrhty company and a member f1rm of the KPMG network. of Independent member f ilmS attllratod With KPMG InternatiOnal Cooperatrve r KPMG lnternanonal'l, a SWISS ent1ty. All nghts reserved.
Page 1 of2
ION0:1002600046371
Opinion
In our opinion the accompanying Financial Schedules as of and for the twelve months period ended 31 December 2013, have been prepared, in all material respects, in accordance with the cash receipts and disbursements basis of accounting as described in the Explanatory Notes to the Financial Schedules as of and for the twelve month period ended 31 December 2013.
Basis of Accounting and Restriction on Use and Distribution
Without modifying our opinion, we draw attention to Note 1 to the Financial Schedules as of and for the twelve months period ended 31 December 2013 which describes the basis of accounting. These Financial Schedules are prepared solely for the purpose of complying with the terms of the Grant Agreement No. TF 099139 between the Ministry of Finance ("the Ministry") on one side and International Bank for Reconstruction and Development and the International Development Association (together "World Bank") acting as administrator of grant funds provided by Sweden and represented by the Swedish International Development Cooperation Agency ("Sida") under the Administration Agreement for the Swedish Trust Fund for the project, on the other side, signed on 29 June 2011 . As a result, the Financial Schedules may not be suitable for any other purpose. Our report is intended solely for the use of Management of Moldova Energy Sector Reform and Efficiency Improvements Project, World Bank, Sida and the M inistry. To the fullest extent permitted by law, we do not accept or assume any responsibility to anyone other than the Management of Moldova Energy Sector Reform and Efficiency Improvements Project, World Bank, Sida and the Ministry, for our work, for this report, or for the opinion we have formed.
KPMG Moldova SRL
Chisinau, Moldova
25 March 20 14
Ref.: 14014
Page 2 of2
ESREI Project for Moldova ATTACHMENT 4.1
Summary of Sources and Users Funds by Category as of December 31, 2013 EURO
Opening cash balance(s): TF099139 Local currency Account Amount in Designated Account
Sourses of funds, inclusiv: SOE Procedures
Direct Payments
SA Advance payment
Closing cash balance(s) : TF099139 Local currency Account Amount in Designated Account
Uses of Funds, inclusiv : TF099139
Goods (supply and instalation) under Part 1 of the Project Consultants services Operating costs
Date:
Ludmila Burlui Project Director
25-Mar-14
Actual Period-To
Date
26,064
26,064 425,234
51,400
373,835
24,870
24,870
426,428 -
419,325 7,104
Cumulative To-date
26,064 1,471,111
95,810
1,275,302
100,000
24,870
24,870
1,446,241 825,264 606,069
14,909
Page 1/6
ESREI Project for Moldova
Users Funds by Project Activities as of December 31, 2013 EURO
Rehabilitation of the heating engineering system of the Center for Mother and Child
Technical study to identify urgent priority rehabilitation and investments in Chisinau district heating system
Implementation Support for Corporate Restructuring of Termocom, CHP 1 and CHP 2
Project Management and Administration
Total
Date:
Ludmila Burlui Project Director
25-Mar-14
ATTACHMENT 4.2
Actual Period-To Cumulative
Date To-date
- 825,264
161,240 281,522
212,595 212,595
52,594 126,861
426,428 1,446,241
Page 2/6
For year ending Account No.
Depository Bank
Address
ESREI Project for Moldova Grant no. TF099139
Designated Account Statement EURO
31 December 2013 227170197816
Trezoreria Teritoriala Chisinau- bugetul de stat (Banca de Economii branch no.1)
Republic of Moldova
Local currency Account Amount in Designated Accow Petty cash
TOTAL
Add: World Bank replenishments during the year
DA-18 DA- 20 DA- 21 DA - 23
TOTAL
Deduct: Account payments for goods and services
Date: 25-Mar-14
Ludmila Burlui Project Director
DA -20 DA -21 DA- 23 DA-24
TOTAL
Local currency Account Amount in Designated Accow Petty cash
TOTAL
26,064
26,064
17,358 8,655
14,000 11,387
51,400
8,655 16,784 11 ,387
ATTACHMENT 4.3
15,768 Not reported yet as at 31 Dec 2013
52,594
24,870
24,870
Page 3/6
W/0 Number
W/0 Number
DA- 18 DA-20 DA- 21 DA -23
W/0 Number
DA -18 DA- 20 OA- 21 DA- 23
Date:
Ludmila Burlui Project Director
TN
TN
TN0018 TN0020 TN0021 TN0023
TN
TN0018 TN0020 TN0021 TN0023
25-Mar-14
ESREI Project for Moldova ATTACHMENT 4.4 Grant no. TF099139
SOE Withdrawal schedule for the year ended 31 December 2013
EURO
Disbursement Cate9_ory 1
Goods Consultants
Operating costs services
0
Disbursement Catefl.OfY 2
Goods Consultants
Operating costs services
14,045 7,214
14,679 10,104
46,041
Disbursement Category 3
Goods Consultants
Operating costs services
3,313 1,442 2,105 1,283
8,143
54,183
Page 4 / 6
WID Number
DA- 24
WID Number
DA- 24
WID Number
DA- 24
Date:
Ludmila Burlui Project Director
TN 24
TN 24
TN 24
ESREI Project for Moldova ATTACHMENT 4.5 Grant no. TF099139
SOE Withdrawal schedule for the year ended 31 December 2013
EURO (disbursed from DA in 2013 to be reimbursed in 2014)
Disbursement Category 1
Goods Consultants Operating
services costs
0
Disbursement Category 2
Goods Consultants Operating
services costs 13,494
13,494
Disbursement Category 3
Goods Consultants Operating
services costs 2,274
2,274
15,768
25-Mar-14
Page 516
Explanatory Notes to the Financial Schedules of Moldova Energy Sector Reform and Efficiency Improvements Project
as of and for the twelve months period ended 31 December 2013
Note 1 - Basis o(Accounting
Basis of accounting used in the preparation of the enclosed financi al schedules is cash receipt and disbursement basis. On this basis sources of funds are recognized when received rather than when earned and funds used are recognized when paid rather than when incurred.
page 6 I 6