28 JUN 2019 fiss 7))1 Hubei Provincial Audit Office of the People's Republic of China Audit Report jW'khR4 C2019] 92 -- HB AUDIT REPORT C 2019 ] NO. 92 Project Name: Hubei Inland Waterway Improvement Project Financed by the World Bank #: 8846-CN Loan No.: 8846-CN Project Entity: Hubei Han River Yakou Navigation Complex Project Construction Management Office (under preparation) kiflj f'4:2015 4 10 J 10 1 lO2018 * 12 J 31 Accounting Period:October 10, 2015-December 12, 2018 目录 ContentS 一、审计师意见…,..…,二,二,.............................................................……1 1 .Auditors&Opinion ....................................................................……,.…3 二、财务报表及财务报表附注........................................……‘.…,.……6 11 .Financial Statements and Notes to the Financial Statemeflts....……6 (一)资金平衡表…,.......................................................……,...……6 1 .Balance Shect................................……,..................……,...........……6 (二)项目进度表.........................................................……,.…,.,.…9 11.Summary of Sources and Uses ofFunds by Project ComPonent,9 (三)贷款协定执行情况表二,二,…,......……,二,,,二,.,,.,二,..............……13 111,Statement oflmplementation ofLoanAgreement..............……13 (四)专用账户报表.................................................................……14 iv,Special Accouni Statement .....……,.......................................……14 (五)财务报表附注.,..……,.,...............……16 v.Notes to Financial Statemenis ............................................……,二18 三、审计发现的问题及建议..……,..……,二,..……21 Hl.Andit Findings and Reeommendations ...........................……,.……24 一、审计师意见 审计师意见 湖北省汉江雅口航运枢纽建设管理处(筹): 我们审计了世界银行贷款湖北内河航运能力提升项目2018年12月 31日的资金平衡表,以及截至该日同年度的项目进度表、贷款协定执行 情况表和专用账户报表等特定目的财务报表及财务报表附注(第6页至第 20页)。 (一)项目执行单位及湖北省财政厅对财务报表的责任 簖制上述财务报表中的资金平衡表、项目进度表及贷款协定执行情况 表是你办的责任,簖制专用账户报表是湖北省财政厅的责任,这种责任包 括: 1.按照中国的会计准则、会计制度和本项目贷款协定的要求编制项 目财务报表,并佼其实现公允反映; 2.设计、执行和维护必要的内部控制,以使项目财务报表不存在由 于舞弊或错误而导致的重大错报。 (二)审计责任 我们的责任是在执行审计工作的基础上对财务报表发表审计意见。我 们按照中国国家审计准则和国际审计准则的规定执行了审计工作,上述准 则要求我们遵守审计职业要求,计划和执行审计工作以对项目财务报表是 否不存在重大错报获取合理保证。 为获取有关财务报表金额和披露信息的有关证据,我们实施了必要的 审计程序。我们运用职业判断选择审计程序,这些程序包括对由于舞弊或 错误导致的财务报表重大错报风险的评估。在进行风险评估时,为了设计 恰当的审计程序,我们考虑了与财务报表相关的内部控制,但目 1 的并非对内部控制的有效性发表意见。审计工作还包括评价所选用会计政 策的恰当性和作出会计估计的合理性,以及评价财务报表的总体列报。 我们相信,我们获取的审计证据是适当的、充分的,为发表审计意见 提供了基础。 (三)审计意见 我们认为,第一段所列财务报表在所有重大方面按照中国的会计准 则、会计制度和本项目贷款协定的要求编制。公允反映了世界银行贷款湖 北内河航运能力提升项目2018年12月31日的财务状况及截至该日同年 度的财务收支、项目执行和专用账户收支情况。 (四)其他事项 由于该项目本期内没有向世界银行提款报账,我们不对提款报账发表 意见。 本审计师意见之后,共同构成审计报告的还有两项内容:财务报表及 财务报表附注、审计发现的问题及建议。 {「川北省币汁丫 二口一灵仁并于、目二一卜下、日 地址:中国湖北省武汉市武昌区天鹅路3号 邮政簖码:430071 电话:86一027一87236025 传真:86一027一87252502 2 1. Auditors' Opinion Auditor's Opinion To Hubei Han River Yakou Navigation Complex Project Construction Management Office (under preparation) We have audited the special purpose financial statements (from page 6 to page 20) of of the Hubei Inland Waterway Improvement Project Financed by the World Bank, which comprise the Balance Sheet as of December 31, 2018, the Summary of Sources and Uses of Funds by Project Component, the Statement of Implementation of Loan Agreement, and Notes to the Financial Statements. Project Entity and Hubei Provincial Finance Department's Responsibility for the Financial Statements The preparation of the Balance Sheet, the Summary of Sources and Uses of Funds by Project Component and the Statement of Implementation of Loan Agreement is the responsibility of your entity, while the preparation of the Special Account Statement is the responsibility of Hubei Provincial Finance Department, which includes: 1. Preparing and fairly reflecting 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 necessary internal control to ensure that the Financial Statements are free from material misstatement, whether due to fraud or error. 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 fTee fTom material misstatement. 3 An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entities' preparation and fair presentation of the financial statements 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 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 Hubei Inland Waterway Improvement Project Financed by the World Bank as of December 31, 2018, 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 China's accounting standards and system, and the requirements of the project Loan Agreement. Other Matters We do not comment on this item because no loan withdrawal application for this project was submitted during this period. 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. Hubei Provincial Audit Office June 26, 2019 4 Address: No. 3 Tian'e Road, Wuchang District, Wuhan City, Hubei Province, P.R. China Postcode: 430071 TEL: 86-027-87236025 FAX: 86-027-87252502 The English translation is for the convenience of report users; Please take the Chinese audit report as the only official version. 5 II. Financial Statements and Notes to the Financial Statements i. Balance Sheet BALANCE SHEET 2018 4 12 A 31 El (As of December 31, 2018) *Js~#: aRi7M n JH- i' P Project Name: Hubei Inland Waterway Improvement Project Financed by the World Bank Prepared by: Hubei Han River Yakou Navigation Complex Project Construction if9 4...: A K 40 5G Management Office (under preparation) Currency Unit: RMB Yuan liz WflThI lVJiitJVJ**0Q Line Beginning Application of Fund Line Beginning Balance Ending Balance Sources of Fund Ending Balance No Balance No III lil1 Uffli I 0.00 1,161,010,609.28 Total Project 28 0.00 1,252,404,717.36 Total Project Expenditures Appropriation Funds 1 V-; R Project 2 29 Fixed Assets Transferred Capital and Capital Surplus 2.it% HlLi Construction Expenditures to 3 30 Including: Grants be Disposed 3. ![,a 4 Total Project 31 2,573,700.00 Investments Transferred-out Investment Loan 4.1'Eltl.Wf 5 0.00 1,161,010,609.28 32 2,573,700.00 Construction in Progress Total Project Loan 6 33 2,573,700.00 Investment Loan Receivable Foreign Loan 7 34 Including World Bank Including:]DA Investment Loan Receivable 6 Including Appropriation of 8 35 IBRD Investment Loan Appropriation of World Bank 9 36 Technical Cooperation Investment Loan 119. t*VM 10 37 Equipment Co-Financing Including Equipment Losses 11 38 Domestic Loan in Suspense 12 0.00 49,201,070.05 39 Total Cash and Bank Other Loan 13 Appropriation of 40 Cash in Bank Investment Loan 14 Including: World Bank 41 Including Special Account Loan 15 42 Cash on Hand Bond Fund A' t&MM':& hit Consrtucion 16 0.00 78,142,396.17 43 Total Prepaid and Receivable Expengitures to be Offset £1. :Is.fSttkkitJ 17 44 0.00 93,417,797.62 Including World Bank Loan Total Payable Interest Receivable hy:t 4k lftITt9MT*Yil World Bank Loan 18 Including World Bank 45 Commitment Fee Receivable Loan Service-Fee Payable R 1t)i k- if M J ITtfrM M 19 46 World Bank Loan World Bank Loan Service-fee Receivable Commitment Fee 7 Payable ENtIttfKiO1& 20 47 Marketable Securities World Bank Loan Service Fee Payable 21 48 0.00 -60,042,139.48 Total Fixed Assets Other Payable 22 49 Fixed Assets,Cost Appropriation of Fund Less:AccumulatedDepreciaiti 23 50 Retained Earnings on 24 51 Fixed Assets,Net Fixed Assets Pending 25 52 Disposal Fixed Assets,Losses in 26 53 Suspense 27 0.00 1,288,354,075.50 54 0.00 1,288,354,075.50 Total Application of Fund Total Sources of Fund 8 ii. Summary of Sources and Uses of Funds by Project Component SUMMARY OF SOURCES AND USES OF FUNDS BY PROJECT COMPONENT I 4*A492018 * 12 J 31 H (For the period ended December 31, 2018) Project Name: Hubei Inland Waterway Improvement Project Financed by the World Bank A &R* 1k: A AAL t K Xi IA ,46TLK (t9 Prepared by: Hubei Han River Yakou Navigation Complex Project Construction i FP *lit: AV ,4 l Management Office (under preparation) Currency Unit: RMB Yuan Current Period Cumulative Current Current Year Current Period Cumulat ive% Period% Life of PAD Cumulative Actual Budget Actual Completed completed AAW2ii * Total Sources 1,254,978,41736 3,348,580,000.00 1,254,978,417.36 37.48% ofFunds 2,573,700.00 990,000,000.00 2,573,700.00 0.26% International Financing 11BRD 2,573,700.00 2,573,700,00 21DA f l&fx, Counterpart 1,252,404,717.36 2,358,580,000.00 1,252,404,717.36 53.10% Financing 1.q'4t- Central 404,251,990.37 405,100,000,00 404,251,990.37 99.79% 2VNIRIf Provincial 848,152,726.99 1,953,480,000.00 848,152,726.99 43.42% 3. U'i MA1 i Ji*1f Total 1,161,010,609.28 0.00 1,161,010,609.28 Application of Funds 9 ( IHWiP A byProject 1,161,010,60928 1,161,010,609.28 Component) Li±ftIT Civil works 408,673,768.53 408,673,768.53 2.ttTU94 Equipment 81,266,893.50 81,266,893.50 purchase 3.tili'Ei4Nh:i The land drafts moves and the 543,383,980.11 543,383,980.11 compensation 4. W illR 0 ilI Advisory 0.00 0.00 service and training 5. 1 t ifI 3 Other expenses 127,685,967.14 127,685,967.14 6.fP1,Y4JfJ Reserves the expense 23 Difference 93,967,808.08 93,967,808.08 1, Jf&AIS4 Charge in 78,142,396.17 78,142,396,17 Receivables 2, V0{IPV 4t Charge in -93,417,797.62 -93,417,797.62 Payables 3. Rffi z RO:Vt Chargein 49,201,070.05 49,201,070,05 Cash and Bank 4, Ut Other 60,042,13948 60,042,139.48 10 ロ _:―二』 -豆・ i� F� � � � у- � т � � � 1� U � t � � � � _ � � � �'� д °о ^ -� � О р О О � W r\ j �.^ � ' i� � � ` � и .� .р г� ' � � _ r' �, � -W 3 41 � � ; � �. � '� � � 7 � � �:ч С.: о0 О '�L � � `/ 'L] � О О цуу ® ° h� ", И б О О О д О -'{1М` U Т � � ^ � � � м М °° о .� Г� ® тп д aCi -� � � �" � N о м� �с�Лб bЛ t= о � ®� н© W .г". � � W О � ~ .-N-i Ф � � �3 � � О О О О � М � С] Q � S� F �� И � LLL. 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Special Account Statement * M * P 4 * SPECIAL ACCOUNT STATEMENT 2018 * 12 A 31 H (For the period ended December 31, 2018) Project Name-, Hubei Inland Waterway ImprGVement Project Depository Bank: China Minsheng Bank Wuhan Zhongnan Financed by the World Bank sub-branch `AA11r: 8946-CN 91E-1 : 630656917 Loan No. 8846-CN Account No. :630656917 WW L AdLiMAFT 1'V-V_1iiii#A_ AA Prepared by! Hubei Provincial Finance Department Currency:USD A Part A-Aocount Activity for the Current Period Amount Beginning Balance 11HII: Add: Total Amount Deposited this Period by World Bank Total Interest Earned this Period ifDepositcd in Special Account * M IF, * [?I j 1B 9 1 Z I t V Total Amount Refunded this Period to Cover Ineligible Expenditures Deduct: * J 111 E II Total Amount Withdrawn this Period * JYJ 4C - _J liff [ jZ i Zf 9 + 0 J] R * z i I,, Total Service Charges this Period ifnot Included in Above Amount Withdrawn E ndi ng Balance V:'O To be continued) 14 B tiIb9t: -tJP iB1 Part B-Account Reconciliation Amount Amount Advanced by World Bank Deduct: Total Amount Recovered by World Bank 3. 1NE M PW tW Outstanding Amount Advanced to the Special Account at the End of this Period Ending Balance of Special Account Add: Amount Claimed but not yet Credited at the End of this Period Application No. Amount 6. U)4 i W t Amount Withdrawn but not yet Claimed at the End of this Period 7. lPJ1ikiB Jl-fiiE 5 X41 6 er) Cumulative Service Charges (If not Included in Item 5 or 6) Deduct: Interest Earned (If Included in Special Account) Total Advance to the Special Account Accounted for at the End of this Period is (五)财务报表附注 财务报表附注 1.项目概况 世界银行贷款湖北省内河航运能力提升项目贷款号为8846一CN, 汉江雅口航运枢纽是一个以航运为主,结合发电,兼顾旅游、灌溉等 水资源综合开发功能的项目,由湖北省交通厅利用世行资金主建,列 入交通部和湖北省“十三五”重点项目。工程总工期为49个月,计 划于2020年底基本建成。项目协议于2018年7月21日签订,2018 年9月27日生效,预计2023年6月30日前关闭。项目计划总投资 为人民币334858万元,其中中央补助资金40510万元,世界银行贷 款总额为1.5亿粎元,其余为省自筹。 2.财务报表编制范围 本财务报表的簖制范围包括项目办的财务报表及省财政厅专用 账户报表。 3.主要会计政策 3.1本项目财务报表按照财政部《世界银行贷款项目会计核算办 法》(财际字〔2000〕13号)的要求编制。 3.2会计核算年度采用公历年制,即公历每年1月1日至12月 31日。 3.3本项目会计核算以“权责发生制”作为记账原则,采用借 贷复式记账法记账,以人民币为记账本位币。 3.4按照中国人民银行2018年12月28日汇率,即USDI二人民 币6,8 6 32元。 4,报表科目说明 4.1在建工程 截至2018年12月31日,本项目累计完成投资1,161,。10,609.28 元,其中: 16 4.1.1建安工程408,673,768.53元; 屏.1.2设备投资81,266,893.50元; 共.1.3待摊投资669,475,175.88元(其中移民征迁资金 543,383,980.11元,勘察设计费48,123,167.11元,建设单位管理费 20,119,793.40元,可行性研究费42,140,833.39元,世行贷款先征 费2,573,700.00元,监理费10,222,888,61元,其他费用 2,9 10,8 1 3.26元); 4.1.4其他投资1,594,771.37元,为项目管理处办公设备及生 活设施。 4.2货币资金期末数舜9,201,070.05元,为银行存款。 4.3应收款78,142。396.17元(其中预付工程款77,889,628,47 元,其他应收款252,767.7。元)。 4.4项目拨款期末数1,252,4叫,717.36元,为财政预算资金, 其中2018年拨款礴15,35。,254,89元。 4.5项目投资借款2,573,700.0。元,为世行贷款先征费 375,000.00美元。 召.6应付款合计期末数93,417,797.62元,其中应付工程款 9,960,405.13元;筹备期间借交通厅45,000,000.00元;工程质保金 30,7辱5,254,19元;工程履约金3,606,765.00元;耕地占用税 3,986,416.00元;其他应付款118,957.30元。 4.7未交款期末数一60,叫2,139.48元,其中待抵扣增值税〔进 项税)一60,758,671.26元;其他未交款716,531.78元。 5、专用账户使用情况 本项目专用账户设在中国民生银行武汉中南支行,账号为 630656917,币种为美元。 17 v. Notes to Financial Statements Notes to the Financial Statements 1. Project Overview The loan No. of the Hubei Inland Waterway Improvement Project Financed by the World Bank is 8846-CN. Yakou Navigation Complex is a project that focuses on navigation, combines power generation with comprehensive development of water resources such as tourism and irrigation, It was built by Department of Transportation of Hubei Province with the World Bank loan and is one of the key projects of " 13th Five-year Plan" of the Ministry of Transport of the People's Republic of China and Hubei Province. The total construction period is 49 months and it is planned to be completed at the end of 2020. The project agreement was signed on July 21, 2018 and came into effect on September 27, 2018, The project is expected to be closed by June 30, 2023.The total planned investment of the project is RMB 3,348,580,000, of which RMB 405,100,000 yuan is subsidized by the Central Government, USD 150 million is loan of World Bank and the rest is raised by Hubei Province itself. 2.Consolidation Scope of the Financial Statements Consolidation scope of the financial statements covers the financial statements of the project office and the Special Account set in the Provincial Finance Department. 3. Accounting Policies 3.1 The Financial Statements of the project were prepared according to the requirements of Accounting Methods for the World Bank Financed Project ( Ca izi[2000]No.13 ) . 3.2 In accounting practice, the Gregorian calendar year is adopted as the fiscal year from January I to December 3 1. 3.3 The accrual basis and the debit/credit double entry bookkeeping method are adopted. RMB is used as the recording currency of bookkeeping. 3.4 The exchange rate adopted in the financial statements was the exchange rate on December 28, 2018 of the People's Bank of China, 18 which is USDI= RMB6.8632 yuan. 4. Explanation of Subjects 4.1 Construction in progress As of December 31, 2018, the total investment of this project that has been completed was RMB 1,161,010,609.28,yuan including: 4.1.1 Construction and installation works: RMB 408,673,768.53 yuan; 4.1.2 Equipment investment: RMB 81,266,893.50 yuan; 4.1.3 Investment to be amortized: RMB 669,475,175.88 yuan (of which, the fund for acquisition, demolition and resettlement was RMB 543,383,980.11 yuan, survey and design cost was RMB 48,123,167.11 yuan, management cost of construction unit was RMB 20,119,793.40 yuan, cost of feasibility study was RMB 42,140,833.39 yuan, front-end fee of the World Bank loan was RMB 2,573,700.00 yuan, the supervision cost was RMB 10,222,888.61 yuan, and the other cost was RMB 2,910,813.26 yuan); 4.1.4 Other investment: RMB 1,594,771.37 yuan, which was used for office equipment and living facilities of the project headquarters. 4.2 The closing balance of monetary capital: RMB 49,201,070.05 yuan, which is in the form of bank deposit; 4.3 The accounts receivable amounted to RMB 78,142,396.17 yuan, including RMB 77,889,628.47 yuan for advance payment and RMB 252,767.70 yuan for other receivables. 4.4 The closing balance of project allocation was RMB 1,252,404,717.36 yuan, which is the financial budget funds and of which RMB 415,350,254.89 yuan was the allocation in 2018. 4.5 The loan for the project investment was RMB2,573,700.00 yuan, of which, USD 375,000.00 was the front-end fee of the World Bank loan. 4.6 The closing balance of accounts payable was RMB 93,417,797.62 yuan, of which the project fund payable was RMB 9,960,405.13 yuan; loan from the Department of Transport during the preparation period was RMB 45,000,000 yuan; the deposit for quality guarantee of the project was RMB 30,745,254.19 yuan; the performance bond of the project was RMB 3,606,765.00 yuan; the tax for occupation of cultivated land was RMB 3,986,416.00 yuan; the other payables was RMB 118,957.30 yuan. 19 4.7 The closing balance of other payable:-60,042,139.48 yuan,including VAT to be deducted:-60,758,671.26 yuan;other payable:716,53 1.78 yuan. 5. Special Account The special account of the project was set in China Minsheng Bank Wuhan Zhongnan Sub-branch. 20