. ~ . , ·.: . ~·/ . ,. .. ,· · :: · .. · J1~µgld Pi-o~iricilfiJ¥ll~~ Offic~JJthe ~~ppf~!·;jlepllbiic ~f{J~in~ · ~· . .,-'··• ,•"· ~-· /5~·:> :~< J:t>: ~: . .. Public Disclosure Authorized Public Disclosure Authorized •. ..; ·:.. ,., . :. _.,. ..,,.. ;:- ~•C · -""" ...., ,, .. ,,..,, •..•. • IC·; ..: .. .. , ~;i'~~ ~ 41' ~"~~- 5Jffi 1f~ ¥ii lYi 'w, (' ;irN: ,· ) ~,~: ,;:_ t. "_-·· . .. .../" · ' .. "-;; , <<;· , Scal~:JJP . , Proj~ct · "':Y.;. ;· >~· ~ .,.,. .,,;'"'.··· .::::... .... ',• ;... .... , ·.'. .~, . : Public Disclosure Authorized TE098.7tl~: T~-098703 - ,' ,,,..;;~·-~ .. · • .,;_.·> ·.~:;;J/ .. "" ' _,. ... ' - ~ ~-i~~~1iL~ "·1f' ~ - GEF Jta~~ ~: fJ!?J,;_'.t _- -_-"-_ ::P-roj~efEP:tity: ..iiang~ _i:GEF~E~6rgy - Conseiva~i~I'i-PM6- -. _ :: ·. ,, , " -.. '· •. ' ·f•,_•• .•., .• • .,, ·, . ··.·.. • ., ,, ' • ,. '..".:;d;:; Accouniiiig __y ear:_2q ~4 - .::· .. ., .· '.,(;_: .'"· \;, ;~ .·..... , \., ··.. , ~. Public Disclosure Authorized . ·.--·'· . ·· · -........•.,. ;. ~· ' f3 ~ Contents '$' it yijJ ;t- % ............................................................................................... 1 I .Auditor's Opinion ........................................................ ................................ 3 -=-' Ji1i- ~fft~&Jili- ~4lt~ 15lti1 ....................................................................... 5 II .Financial Statements and Notes to the Financial Statements ....................... 5 ( - ) 1!-1it-+~r* .................. .. ................................................................. s i. Balance Sheet.......................... ................................................................ 5 ( -=- ) ~~#:kt~~ t:hA-T '~t {JL* ..................................................................... 6 ii. Statement of Implementation of Grant Agreement ............................... 6 ( ::::... ) t~ ~~ ,P f~* ................................. ................................................ 7 iii. Designated Account Statement ............................................................ 7 (rm) Plt~:J~*l31tit ................................................................................. 8 iv. Notes to the Financial Statements ...................................................... 12 =' '$'it~l~if-J]PJ~ltlti.-X. ........................................................... ...... .. ...... 16 III.Auditor Findings and Recommendations ................................................... 18 ~ffi$#1±~~~£~-·~-~·~·-~~§ CilW) 2014 11=- 12 A 31 s ~*~+~f;ft&~~it s lii11!=-ltif-J~~;¥xtdJ-JttAAf -~~~*~~Jt•P•*$~Jt§if-JN~**&1M~•*m~c• 5 :0:¥.15 ~ )0 -~~~!M~**o/if-J*~+•*'··~§~Jt&fi•~~~ ;ft~~-~if-J-* , ·~~Jt·~·*~ilW~JM~ffif-J.*,~# •1±~A~ : c 1 ) ~ P.?- o/ 00 if-J %it !ft P!Ll , %it*~ It~*-~ § ~~ ;¥x tdJ- Jt if-J !I >R ~~~§JM~**' #~~~~%~R~; •:o'l "f.: · ~·-: .;~;_, 4- ( 2 ) 'if it, tJIJt,{11 ~i ¥1 ~, ~ ~ !1'J $ ~ 1M , ~ 1!t JYi § N ~ 1'~* /F ~~~~-~~~~W~•if-J•; . ·.' ~ * •*o '_,>:.~ ·~·,. r. '~ <:' ~m~•*~~&fi$#I~~£~~~N~•*~*•tt• £.~m~~o/oooo••**~~oo~•**~~~Jt&fi1ttt1 ~'~~*~~*~ffi-~$#~~4>Jt,#~~&fi$#I~~~ ~§!M-~**~%/F~~m*••~*~~~filo ~~*~#N~-*~-~~-~4~~#filW,~ffi~~1~ 4if-J$ttft~o~ffi~M~~~~~~$#ft~ , ~~tt~~M~~ f##~-~~·~N~•*•*•*~~if-JW~.~*fi~~W~ ~,~1~#~*~•tttt~,~ffi~41~JM~-*~*~~$~ *L 11:1 § if-J#~F~f!1'J~~*~if-J:1f1::k 1ti~*-£· $itI1f~~t~i¥1fr m~ro%tt~•~~*tt~~ili%tt~tt~~~tt,~&w*N~• ;ft~ ,~,1*'.9u 3'&. ~m$1~,~m~~~$tthl1!~~*~-~~~,~~*$tt ·%~1#1 £~tlL ~mR~,•-&m~~~**ftm*~*~w~oo~oo~4tt ~~-4tt~~~*~§·~~~~¥*~~,~ft~~r±~~~ £4:~~ #x ~, ~AJ~ 5! ~* $ 4t1 ~ § c 1I w ) 2014 11=- 12 A 31 a ~ ~ ~ ~~&~~~a~11=-~~~~~~, ~§~fi~m~•~~~~~Q ~ffi$*1*M~**~*~«fi~•s%~•6%~~*-~ ~&mm•*a~ffiR~,~~~*~~~-~~~~¥*,~~~ ~ *1-lt~Jx~1R1io *$*~-~~~,#~~~$#*%~~*~~~~=~~* *&~~**m~~$tt~~~~•&~~Q ±1J!JJI:: JI W~' f-tij ~ rP j: W~ 209 -% lb~ if{~-711#: 330006 ~ 1!: ( 0791) 86817626 ~ ~: ( 0791) 86823311 2 I. Auditor's Opinion Auditor's Opinion TO Jiangxi GEF Energy Conservation PMO We have audited the special purpose financial statements (from page 5 to page 15) of GEF Provincial Energy Efficiency Scale-Up Project( Jiangxi), which comprise the Balance Sheet as at 31 December 2014, the Statement of Implementation of Grant Agreement and the Designated Account Statement for the year then ended, and Notes to the Financial Statements. Project Entity and Jiangxi Provincial Finance Department's Responsibility for the Financial Statements The preparation of the Balance Sheet, the Statement of Implementation of Grant Agreement of the financial statements is the responsibility of your entity, while the preparation of the Designated Account Statement is the responsibility of Jiangxi provincial Finance Department, which includes: (I )preparing and fair presenting the accompanying financial statements in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement;(2)designing, implementing and maintaining internal control to the preparation and fair presentation of financial statements that are free from material misstatements, whether due to fraud or enor." Auditor's Responsibility . Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Government Auditing Standards of the People's Republic of China and International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or enor. In making those risk assessments, the auditor consider internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are 3 appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is appropriate and sufficient to provide a basis for our audit opinion. Opinion In our opinion, the financial statements identified in the first paragraph present fairly, in all material respects, financial position of GEF Provincial Energy Efficiency Scale-Up Project(Jiangxi) as at 31 December 2014, its financial receipts and disbursements, the project implementation and the receipts and disbursements of the designated account for the year then ended in accordance with Chinese accounting standards and system, and the requirements of the project grant agreement. Other Matters We also examined the withdrawal application from No.5 to No.6 and the attached documents submitted to the World Bank during the period. In our opinion, those documents comply with the project grant agreement and can serve as basis for grant withdrawal. The audit report consists of the Auditor's Opinion and two more parts hereinafter: Financial Statements and Notes to the Financial Statements, Audit Findings and Recommendations. Jiangxi Provincial Audit Office of the People's Republic of China Mar 10, 2015 Address: No.209 Dieshan Road, Nanchang City, Jiangxi Province, P.R. China Postcode: 330006 Tel.: 86-0791-86817626 Fax: 86-0791-86823311 The English translation is for the convenience of report users; Please take the Chinese audit report as the only official version. 4 _, m-jj--~lt-~.~JZ.m-jj--~-*iJt aA II. Financial Statements and Notes to the Financial Statements (-)*~f~-*: i. Balance Sheet ~ 1x-f ~ * BALANCE SHEET 2014 .1f 12 fl 31 s (As at 31 December, 2014) ~§~#: ~~~~£*••ilw~~1~•*r~§<ilW) ~~ #X %: TF098703 Project Name: GEF Provincial Energy Efficiency Scale-Up Project (Jiangxi ) Grant No.: TF098703 ·-·~: ilWGfil~I~§*~~~~ ~fP *1i:A~ fJ1 Jt Preoared bv: Jiangxi GEF Energy Conservation PMO Currency Unit: RMB Y1 - - -- - 'ti '1t r5 ffl Y££~;AtWjl Application of Fund Sources of Fund ;f4~~;j<~( WJ 1'JJ ;UZ W WJ*;UZW ;f11- lti~;fhi WHJJ ;UZ¥,!/i J ITT *;UZ ~lJl Accounting Subject Beginning Balance Ending Balance Accounting Su~ject Beginning Balance Ending Balance :f~A.~mJil\ tlHi#iJ"V\Bank Balances 2, 172,622. 79 1,741,000.90 8,3 78,318.52 l 0.455,451 .59 Grant Received lJil.fr}: JN.NW~~); 1,750.00 1,415.00 33,168.03 120,006.58 Cash In Hand Accounts Payable 4*1u~r1~il\ IKLl~{iffi {!}: Appropriation of Grant Counterpart Fund JJJ!l::lx:ll 6,429,096.22 9,016,987.02 'lUtAff~fi~ 191,982.46 183,944.75 Project Expenditure Foreign exchange gain or loss Ji\ll&:itP\JJJ!Accounts Receivable '.&J 1rl ;fHJ ,~ H 1ti fr}: r5 ffl ~ it 8,603,469.01 I 0,759,402.92 -fr 8,603,469.0 l I 0, 759,402.92 Total Application of Fund Total Sources ofFund 5 C.=. ) ~ ~ JJJl !§ ~1At 1tt ?JL »A ~ * ii. Statement of Implementation of Grant Agreement ~ ~ tdJ. ~ ~ ti° 1tt ~ U}j ~ * STATEMENT OF IMPLEMENTATION OF GRANT AGREEMENT :il~ 2014 ~ 12 f.] 3 1 E (For the period ended December 31, 2014) :ryt§;g{;t-: 1;-JJtJ:f:!Jt£1fi:-)!111~1IW4J':!p~~~~4i ):rffi § ( 7IW) ~~ #J:. %: TF098703 Project Name: GEF Provincial Energy Efficiency Scale-Up Project (Jiangxi ) Grant No.: TF098703 ~#l.!f!.1i : YI W GEF :ip ~~ :rffi 13 ~ :f!.j}--0- '.t if!.1i: ~ 5tl AR-. i'P 5t __ ...,. ..'""' ___ --- - --