30 JUN 2019 JiangXi Provincial Audit Office of the People's Republic of China Audit Report '$kBF L2019) 11 GAN AUDIT REPORT C2019) NO.11 Project Name:Jiangxi Wuxikou Integrated Flood Management Project Financed by the World Bank 4k ': 8237-CN LoanNo.: 8237-CN Project Entity: Jingdezhen Wuxikou Integrated Flood Management Project Office 2018 Accounting Year: 2018 目录 CO双te肚ts 一、审计师意见...……,........................……,二,二,.,,.,.......................……,二,,1 1 .Auditor&5 Opinion.,.,,,.............……,二,.…,..............……,.,.................……3 二、财务报表及财务报表附注,..............……,.,,.,…,二,......................……,5 11 .Financial Stateme以5 and Notes to the Financial Stateme爪5.,,.,.,.,..…5 (一)资金平衡表..........……,二,.,,.........................……,,二。.,.,........……5 1 .Balance Sheet……,.,,,,.,.,.,,..........……,,,,.,二,.,......................……,,二,.5 (二)项目进度表............……,.,二,,.,.......................……,二,,........……8 11.Sunllnary of Sources and Uses ofFunds勿Project Component二,8 (三)贷款协定执行情况表......……,,…,二,二,,................……,二,.,,.……10 111 .Statement of工mPlementation ofL0anAgreement.,,............……10 (四)专用账户报表.…,.,二,,.,..…,.................……,.......................……,H iv,Special Account Statement.............……,二,.............……,,二,,.,…,二n (五)财务报表附注......……,.,.,二,.....................……,二,...............……13 v.Notes to the Financial Statements........……,…,..................……,.,,.16 三、审计发现的问题及建议................……,.................……,.,,,,..…,.,.…19 nl.Audit Findings and Reconlmendations..............……,.,.,...............……23 .. .. .. .... 一、审计师意见 审计师意见 世界银行贷款景德镇语溪口水利枢纽工程管理办公室: 我们审计了世界银行贷款江襼省语溪口水利枢纽工程项目2018 年12月31日的资金平衡表及截至该日同年度的项目进度表、贷款协 定执行情况表等特定目的财务报表及财务报表附注(第5页至第18 页)。 (一)项目执行单位及江襼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江西省财政厅的责任, 这种责任包: 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,并使其实现公允反映。 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。 1 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 银行贷款江襼省语溪口水利枢纽工程项目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 我们审查了本期内报送给世界银行的第27至33号提款申请书及 所附资料。我们认为,这些资料均符合贷款协议的要求,可以作为申 请提款的依据。 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 表及财务报表附注和审计发现的问题及建议二 :叮一 中华人民共和国江西省审计厅 泛01,年6月2&1日 地址:中国江襼省南昌市叠山路209号 邮政簖码:330006 电话:86一0791一86813151 传真:86一0791一868233 11 ;2 I. Auditor's Opinion Auditor's Opinion To Jingdezhen Wuxikou Integrated Flood Management Project Office We have audited the special purpose financial statements (from Page 5 to Pagel8) of Jiangxi Wuxikou Integrated Flood Management 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 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 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 Jiangxi Provincial Finance Department, which includes: i. Preparing and fairly presenting the accompanying financial statements in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement; ii. 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 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 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 3 . .. ..... .. 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 Jiangxi Wuxikou Integrated Flood Management 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 special account for the year then ended in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement. Other Matter We also reviewed the withdrawal application from No.27 to No.33 and the attached materials submitted to the World Bank during the period. In our opinion, all the materials comply with the project loan agreement and can serve as the basis for withdrawal application. 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 June 21 , 2019 Address: No. 209 Dieshan Rd., Nanchang City, Jiangxi Province, P.R. China Postcode: 330006 Tel.: 86-0791-86813151 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 I. Financial Statements and Notes to the Financial Statements i. Balance Sheet BALANCE SHEET 2018 * 12 Aj 31 E (As ofDec.31, 2018) Project Name: Jiangxi Wuxikou Integrated Flood Management Project Financed by the World Bank tTh *li: t& 3 iR f 1 Atf I Al.A - J49L__11lt Z- §'k FP C : KJFP t Prepared by: Jingdezhen Wuxikou Integrated Flood Management Project Office Currency Unit: RMB Yuan Line Beginning Line Beginning Application of Fund Ending Balance Sources of Fund Ending Balance No, Balance No, Balance -1 1' HlAWZftii 1 2,347,070,682.17 3,122,401,995.01 Total Project Appropriation 28 1,720,460,000.00 2,573,352,458.48 Total Project Expenditures Funds 2 Project Capital and Capital 29 10,000,000.00 10,000,000.00 Fixed Ansets Transferred Surplus 2. *413.J I b$ Construction Expenditures 3 30 lncluding: Grants to be Dispoted Investments 4 31 693,971,109.48 758,797,93210 Total Project Loan Transferred-out 4. PE~ $ 2,347,070,682.17 3,122,401,995.01 TotalProjectInvestment 32 693,971,109.48 758,797,932.10 Construction in Progress Loan q __P SA Aif-ft i f (1) EbAi 6 33 454.431.109.48 521,653,632.10 Investment Loan Receivable Foreign Loan 7 34 Including: World Bank Including: IDA Investment Loan Receivable Appropriation of Investment 8 35 454,431,109,48 521,653,632.10 IBRD Loan Including :Appropriation of 9 Technical 36 World Bank Investment Loan Cooperation . . . . . . . . . . . . .. . Line Beginning Line Beginning Application of Fund Ending Balance Sources of Fund Ending Balance No. Balance No. Balance 10 37 Equipment Co- Financing (2) MiJ @& Including: Equipment Losses 11 38 239,540,000.00 237,144,300.00 Domestic Loan in Suspense il Ai"tti 2. A iStlf,I 12 135,573,841,13 229,247,285,82 39 t. tfT#& 13 135,535,874,53 229,229,073 62 Appropriation of Investment 40 Cash in Bank Loan 14 54,721,976,70 22,176,437 59 41 Including: Special Account Including: World Bank Loan 15 37,966.60 t8,212,20 42 Cash on Hand Bond Fund 16 (To be continued 6 Total Prepaid and Receivable 16 31.339,94000 61,618,631.96 Construction Expenditures to 43 be Offset Including: World Bank Loan 17 44 65,852,029.49 48,022,628 86 Interest Receivable Total Payable World Bank Loan Co18itment Fee Including: World Bank Loan 45 Interest Payable Receivable World Bank Loan World Bank Loan Service- 19 46 Commitment Fee Fee Receivable Payable 20 World Bank Loan Service 47 Marketable Securities Fee Payable Al MILEwF it A + +2C it- 21 48 Total Fixed Assets Other Payables 22 49 23 607,78235 22,965,251.35 Fixed Assets, Cost Appropriation of Fund Less: Acetunulaied 23 50 93,541.98 129,642,00 Depreciation Retained Earnings 24 Fixed Assets, Net 25 Fixed Assets Pending Disposal 26 Fixed Assets Losses in Suspense 27 2,513,984,463 30 3,413,267,912.79 51 2,513,984,463.30 3,413,267,912.79 Total Application of Fund Tots Sosrces of Fund 7 Qz_-:-) * RA& ii. Summary of Sources and Uses of Funds by Project Component SUMMARY OF SOURCES AND USES OF FUNDS BY PROJECT COMPONENT I $,tW 2018 4 12 A 31 IH (For the period ended Dec.31, 2018) Project Name: Jiangxi Wuxikou Integrated Flood Management Project Financed by the World Bank Vk*F~t: iyf %l ~ 4FKw AIn*11 Wl$TM 'A Ifp41: A P FPt Prepared by: Jingdezhen Wuxikou Integrated Flood Management Project Office Currency Unit: RMB Yuan Current Period Cumulative Current Period Current Period Cuent LioPA Cumulative Cumulative % Budget Actual Period Life of PAD Actual Completed 910,000,000,00 917,076,750.10 100.78 3,236,310,000.00 3,365,115,64193 10198 Total Sources of Funds 100,000,000.00 44,341,705.46 67.22 630,000,000-00 521,653,632.10 82.80 Intemational Financing 1. I3fks4ZYOf&lIU 100,000,000.00 44,341,705.46 67.22 630,000,000.00 521,653,632.10 82.80 IBRD Cuer F c810,000,000.00 849,854,227.48 104.92 2,606,310,000.00 2,843,462,009.83 109.10 Counterpart Financing Total Application of Funds (by 706,081,700.00 775,331,312.84 109.81 3,236,310,000.00 3,122,401,99501 96.48 Project Component) 1.:. *IM ll 82,000,000.00 81,644,966,24 9957 723,618,000.00 695,849,937.44 96.16 Wuxikou Flood Control Scheme 2.1't I 22,000,000.00 23,987,791,55 109.03 59,220,000,00 88,768,481.02 149,89 Flood Management System 3.14l# 3c 600,081,700.00 571,111,769.53 95.17 2,423,043,000.00 2,193,658,179.25 90.53 Resettlement 4. a] l E311 U X I Project Management and 200,000,00 1,533,421.68 76.67 15,057,000.00 6,635,439.15 44.07 Implementation Support 28,507, 75.12 15,372,000,00 30,031,400.12 195.36 Loan Interest and Front-end Fee 6, jr ty- Ll22,414,193.00 33,522,788,94 Exchange Gain and Loss 7,44t 46,131,995.72 73,935,769.09 Others Diferc 141, 745, 437 26 242,713,646.92 Difference 1. 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Special Account Statement f M * P -1 A SPECIAL ACCOUNT STATEMENT *MA9 2018 * 12 A 31 H (For the period ended December 31,2018) ] M-tv,j" ProjectName: Jiangyj Wuxikou Integrated Flood ManagementProject Financed by the World Bank RJJW : 8237-CN Loan No. 82' 7-CN Alk*lk: il-EVWW Prepared by: The Finance Departmentof JiangKi DepositoryBank: Industrial BankNanchang Branch 01: 7502011400100011664 AccoLmtNo.: 7502011400100011664 WfP#A: A5t Currency: USD A ARN : F Part A: Account Activity for the Period Amount 8,374,701.83 Beginning Balance 4bn Add- 6,460,791.69 Total Amount Deposited by the World Bank for the Current period 4,573.78 Total Interest earned this petiod if deposted in Special Account *VJT**Z1B WE ILI 9r Total amount rerunded to cover ineligible expeditwes M l Deduct 11.608,857.72 Total amount withdra%Nm *M*f744 Z4-trqir fj DR*111 tB Total service charges iftot included in above amount %vithdra%vn im * 4; R 3,233,209J8 Ending balance B n f: --MCPiAv Part B: Account Recoticiliafion 10,000.000.00 Aniount Advanced by the World Bank A Deduct . . . . . . . . . . . . . . . . . . . . . . 2. ti PJ4 k.TN Total Amount Recovered by the World Bank 10,000,000.00 Outstanding amount advanced to the Special Account at month/day/year 4.90 P JA 3,231,209.58 Ending balance of Special Account at month/day/year 10tuadd: 5. tL*m*aEs wf4RwE4[1m*An Amount claimed but not yet credited at month/day/year Application no. Amount 6. S M B +1 4A iM A 6,787,679.86 Amount withdrawn but not yet claimed 7. 8l#}fThifit (M*#S546* ) Cumulative service charges ( if not included in item 5. Or 6) <# Deduct: 18,889.44 Interest earned (if included in Special Account) 9. ¿-- 2 PMqzk R&k4 10,000,000.00 Total advance to Special Accounted for at month/day/year 12 (五)财务报表附注 财务报表附注 1.项目概况 江襼省语溪口水利枢纽工程位于江西省景德镇市浮梁县蛟潭镇境内, 坝址在鄙阳湖水系饶河支流昌江中游,距景德镇市区40公里。是一座以 防洪为主,兼有供水、发电等综合利用的大(2)型n等水利枢纽工程。 工程正常蓄水位56.00m,水库总库容4.75/10丫;电站装机容量32Mw。 该工程是景德镇市防洪工程体系中的关键环节,经国务院批准,景德 镇市人民政府申请了一亿粎元贷款用于项目建设。2011年10月25日至 11月4日,世界银行项目鉴别团启动了项目鉴别阶段工作。2013年5月 6日,项目贷款协议正式签订,项目贷款号为8237一CN,贷款协定总金额 1亿粎元,贷款期限25年(宽限期6年)。项目生效日为2013年7月19 日,预计2019年6月30日前关账。 世行贷款语溪口项目的总体目标是,通过实施优先工程和非工程措 施,降低景德镇市中心城区的洪水风险。世行将通过1亿美元的贷款,帮 助景德镇市将防洪标准从目前的20年一遇提高至50年一遇,并帮助建设 景德镇市洪水风险综合管理系统。世行贷款江西省语溪口水利枢纽工程项 目计划总投资为人民币323631万元,其中:主体枢纽工程72361.8万元; 景德镇市洪水风险综合管理系统5922万元;移民安置242304.3万元;项 目管理实施支持1505.7万元,以及贷款先征费和建设期利息15372万元。 在项目总投资中世界银行贷款总额为1亿美元,按协议签订时的汇率1:63 计算,折合人民币约6,3亿元。 2.财务报表编制范围 本财务报表的簖制范围包括项目执行单位江西省语溪口水利枢纽工 程开发有限公司和景德镇市洪水风险综合管理系统工程建设项目部的合 并财务报表。 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。 l3 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。 4服表科目说明 4.1项目支出 2018年01月至12月项目支出人民币775,331,312.84元,累计支出人 民币3,122,401,995.01元,占总投资计划的96.48%。 4.2货币资金 2018年12月31日货币资金余额为人民币 229,247,285.82元,比上 年末人民币余额增93,673,444.69元。 4.3预付及应收款 2018年12月31日余额为人民币61,618,631.%元,比上年末减少 30,278,691.%元。主要是新增转借农行贷款给浮梁县人民政府。 4.4项目拨款 2018年12月31日余额为人民币2,573,352,458.48元,是中央、省、 市各级到位的配套资金,其中:中央配套资金950,000,。00&00元,已全部 到位,省级配套资金总额人民币520,000,000.00元,已全部到位,市级计 划配套资金总额人民币1,136,31。,000.00元,累计到位资金余额 1 103352458.48元。 4.5项目借款 2018年12月31日项目借款余额为人民币758,797,9犯.10元,其中: 世界银行贷款76,007,348.19粎元,折合人民币521,653,632.10元;项目国 内借款余额237,1 44,300.00元。 截至2018年12月31日,累计提取世界银行贷款资金76,0 07,348.19 粎元,占贷款总额的76.01%。其中:工程类累计提款63,427,646.34美元, 占该类计划的69.52%;咨询服务类提款2,295,013,47美元,占该类计划的 41.88%;货物类34,688,38粎元,占该类计划的11.450;0;贷款先征费 250,000.00粎元,占该类计划的1000,0;专用账户余额10,000,000.00美元。 l4 4,6应付款 2018年12月31日余额为人民币48,022,628.86元,主要是扣除各施 工单位(如:中国葛洲坝集团股份有限公司、天津天发重型水电设备制造 有限公司、幼东水电二局等)的工程质量保证金。 5.专用账户使用情况 截至2018年12月31日,省财政厅己开设本项目的专用账户,本年 度的提款报账支付方式为偿还支付。 15 v. Notes to the Financial Statements Notes to the Financial Statements 1. Project Overview Jiangxi Wuxikou Integrated Flood Management Project Financed by the World Bank lies in Jiaotan Town, Fuliang County, Jingdezhen City, Jiangxi Province. The dam is located in the middle reach of Changjiang River, a tributary of Raohe River that belongs to the Poyang Lake water system, 40krn away from Jingdezhen's downtown. The big (2) scale Grade 11 Integrated Flood Management Project gives priority to flood protection and also possesses other comprehensive utilities like water supply and power generation. The normal pool level is 56 in, while the total reservoir storage capacity is 4.75 x 101 in'. The total installed capacity of power house is 32MW. A crucial component in Jingdezhen's flood prevention system, the Wuxikou Project obtained approval from the State Council and was allocated USD 100 million loan for its construction. From October 25 to November 4, 2011, the World Bank Appraisal Team initiated the project appraisal. On May 6, 2013, the loan agreement was officially signed, with loan No. being 8237-CN. The lump sum in the loan agreement was USD 100 million, with 25 years as the loan period (6 years grace period inclusive). The effective date of the Project is from July 19, 2013 to June 3 0, 2019. The Project's development objective (PDO) is to reduce flood risk in Jingdezhen's central downtown area through the implementation of priority projects and non-engineering measures. The World Bank will provide a loan worth of USD 100 million to help raise the flood control standard of Jingdezhen City from the current 5% frequency flood to 2% frequency flood and to help construct flood risk comprehensive management system of the city. The total investment of the World Bank loaned Jiangxi Wuxikou Integrated Flood Management Project is RMB 3,236,310,000 yuan, among which, RMB 723,618,000 yuan is for the main pivotal construction, RMB 59,220,000 yuan for the flood risk comprehensive management system of Jingdezhen City, RMB 2,423,043,000 yuan for residents' resettlement, RMB 15,057,000 for project management implementation support, and RMB 15,372,000 yuan for the front-end fee and loan interest during the construction period. Among the overall investment, USD 100 million is loaned by the World Bank, equivalent to around RMB 630 million yuan according to the exchange rate on the 16 agreement-signing date, which is USD 1= RMB 6.3 yuan. 2. Consolidation Scope of the Financial Statements Consolidation scope of the Financial Statements covers the combined financial statements of the project implementation entity Jiangxi Wuxikou Integrated Flood Management Project Development Corporation and the Construction Project Division of Flood Risk Comprehensive Management System of Jingdezhen City. 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 (Cayizi [2 000] No.13). 3.2 In accounting practice, the Gregorian calendar year is adopted as the fiscal year from January 1 to December 31. 3.3 The accrual basis and the debit/credit double entry bookkeeping method are adopted. RMB is used as the recording currency of bookkeeping. 4.Explanation of Subjects 4.1 Project Expenditures The project expenditure in 2018 was RMB 775,331,312.84 yuan, and the cumulative expenditures were RMB 3,122,401,995.01 yuan, which accounted for 96.48% of the total investment plan. 4.2 Cash and Bank Its balance on December 31, 2018 was RMB 229,247,285.82 yuan, an increase of RMB 93,673,444.69 yuan compared with last year. 4.3 Prepaid and Receivable Its balance on December 31, 2018 was RMB 61,618,631.96 yuan, a decrease of RMB 30,278,691.96 yuan compared with last year, which was mainly the lending of loan from Agricultural Bank of China to Fuliang County People's Government. 4.4 Project Appropriation Funds Its balance on December 31, 2018 was RMB 2,573,352,458.48 yuan, which 17 were the counterpart funds allocated by governments at national, provincial and municipal level. Among them, the planned counterpart funds at national level were RMB 950 million yuan, which were all made available; the planned counterpart funds at provincial level were RMB 520 million yuan, which were all made available; planned counterpart funds at municipal level were RMB 1,136,310,000 yuan, among which RMB 1,103,352,458.48 yuan was made available. 4.5 Project Loan Its balance on December 31, 2018 was RMB 758,797,932.1 yuan, including USD 76,007,348.19 from World Bank loan (equivalent to RMB 521,653,632.1 yuan), and RMB 237,144,300 yuan from domestic loan. By December 31, 2018, accumulated USD 76,007,348.19 of the World Bank loan had been withdrawn, accounting for 76.01% of the total, among which, USD 63,427,646.34 for civil works, accounting for 69.52% of the category plan; USD 2,295,013.47 for consulting service, accounting for 41.88% of the category plan; USD 34,688.38 for goods, accounting for 11.45% of the category plan; USD 250,000 for front-end fee, accounting for 100% of the category plan; the balance in Special Account was USD 10 million. 4.6 Payable Its balance on December 31, 2018 was RMIB 48,022,628.86 yuan, mainly the deducted engineering quality bond of each construction units (China Gezhouba Group Co., Ltd., Tianjin Tianfa Heavy Hydropower Equipment Manufacturing Co., Ltd., and Guangdong Hydropower Second Bureau, etc.) 5.Special Account By December 31, 2018, Jiangxi Provincial Finance Department had established a special account for this project. This year, the way of withdrawal and reimbursement is repayment. 18