GrantThornton LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE-AQUAFISH) STATEMENT OF RECEIPTS AND PAYMENTS For the year ended 30 June 2018 LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE- AQUAFISH) STATEMENT OF RECEIPTS AND PAYMENTS For the year ended 30 June 2018 TABLE OF CONTENTS PAGE Executive summary 1 Statement of management's responsibilities 2 Independent auditor's report 3 Statement of receipts and payments 5 Notes to the statement of receipts and payments 6-7 Supplementary information 8 to 12 LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE- AQUAFISH) EXECUTIVE SUMMARY For the year ended 30 June 2018 Background Africa Centre of Excellence in Aquaculture and Fisheries (ACE-AQUAFISII) Project is a five (5) years Project (2016 -2021) that aims to widen access to higher education so as to foster innovation and entrepreneurship in the production of high skilled fit-for-purpose critical mass of agricultural scientists for improved aquaculture and fisheries management in order to enhance food, nutrition and economic security in Eastern and Southern Africa. ACIL-AQUAFISH project which is funded through a loan from World Bank to Malawi Government is coordinated by the Inter-University Council for East Africa and implemented by Lilongwe University of Agriculture and Natural Resources (LUANAR). The World Bank will make available to Malawi a financial loan not exceeding USS6million to be used exclusively to finance the Project in the planned period, 2016 to 2021. Project goal The overall goal of the ACE-AQUAFISH project is to train a pool of skilled and innovative graduate students, to contribute towards improved fish-based food and incomes from aquaculture and fisheries in Africa. Objectives / purposes i. The purpose of ACE-AQUAFISH project is to facilitate and scale-up graduate training in aquaculture and fisheries, community action research, and strengthen linkages with private sector in the region while increasing female and youth participation. Specific project objectives i. Enhance capacity to produce graduates that are relevant to industrial needs in aquaculture and fisheries sector in the region ii. Strengthen proactive graduates to support aquaculture, natural resource management and nutrition iii. Strengthen partnerships with industry, research and academia in the production of quality graduate students in the aquaculture and fisheries value chain, relevant for economic development. ACE-AQUAFISH project will achieve its goal through four (4) key Disbursement Linked Indicators (DLIs) detailed below: DLI Description DLI 1 Institutional readiness DLI 2 Excellence in education and research capacity and development impact DLI 3 Timely, transparent and institutionally reviewed financial management DLI 4 Timely and audited procurement LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE- AQUAFISH) STATEMENT OF MANAGEMENT'S RESPONSIBILITIES For the year ended 30 JUNE 2018 Management is responsible for the preparation and fair presentation of the statement of receipts and payments of ACE- AQUAFISI project being implemented by Lilongwe University of Agnculture and Natural Resources. This report captures the statement of receipts and payments for the year ended 30 June 2018, and the notes to the statement of receipts and payments, which includes a summary of significant accounting policies and other explanatory information. Management is also required to ensure that the Project keeps proper accounting records which disclose with reasonable accuracy at any time the financial position of the Project and ensure the statement of receipts and payments complies with the accounting policies. In preparing the statement of receipts and payments, management accept responsibility for the following: * Maintenance of proper accounting records; * Selection of suitable accounting policies and applying them consistently; * Making judgements and estimates that are reasonable and prudent; * Compliance with applicable accounting standards, when preparing the statement of receipts and payments, subject to any material departures being disclosed and explained in the statement of receipts and payments; and * Preparation of the statement of receipts and payments on a going concern basis unless it is inappropriate to presume that the Project will continue in operations. Management is also responsible for such internal control as they determine necessary to enable the preparation of the statement of receipts and payments that is free from material misstatement, whether due to fraud or error and for maintaining adequate accounting records and an effective system of risk management. Managements' responsibility includes designing, implementing and maintaining internal control relevant to the preparation and fair presentation of the statement of receipts and payments that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Management have made an assessment of the Project's ability to continue as a going concern and have a reasonable expectation that the Project has adequate resources to continue in operational existence for the foreseeable future subject to the financing agreements. Management have made an assessment and they attest to the adequacy of accounting records and effectiveness of the system of internal controls and effective risk management for the Project. The auditor is responsible for reporting on whether the statement of receipts and payments is fairly presented in accordance with the accounting policies. Approval of the statement of receipts and payments The statement of receipts and payments of Africa Centre of Excellence in Aquaculture and Fisheries (ACE-AQUAFISH) Project being implemented by Lilongwe University of Agriculture and Natural Resources was approved on 2018 and is signed on its behalf by: Vice Chancellor Director of Finance 2 GrantThornton An instinct for growth INDEPENDENT AUDITOR'S REPORT TO THE COUNCIL MEMBERS OF LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES ON THE AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND Grant Thornton FISHERIES PROJECT (ACE -AQUAFISH PROJECT) Malawi Opinion Chartered We have audited the statement of receipts and payments of the Africa Centre of Excellence Accountants and in Aquaculture and Fisheries Project (ACE -AQUAFISH) "the Project" being implemented Business Advisors by the Lilongwe University ofAgriculture and Natural Resources, funded by the World Bank Nurses Council Building as set out on pages 5 to 7, which comprises the statement of receipts and payments for the Now Capital Ctj year ended 30 June 2018, and notes to the statement of receipts and payments including a Centre summary of significant accounting policies and other explanatory information. P.. Bcx 30453 In our opinion, the statement of receipts and payments presents fairly, in all material respects, Ulongwe 3, Malawl the financial position of the Africa Centre of Excellence in Aquaculture and Fisheries Project (ACE -AQUAFISI) being implemented by Lilongwe University of Agriculture and Natural Resources, funded by the World Bank as at 30 June 2018, and of its cash receipts and T '265 01773 855 disbursements for the period then ended in accordance with the cash receipts and disbursements basis of accounting as described in note 2 to the statement of receipts and T +265 31 773 371 payments.em: wonaonvtco Basis for opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's iespomsihilities for the audit of the statement of receipts and paymeats section of our report. We are independent of the University in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Pofessional Azoaoats (IESBA Code) and we have fulfilled out ethical responsibilities in accordance with the IESBA code. We believe the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Basis of accounting and restriction on distribution and use We draw our attention to note 2 to the statement of receipts and payments, which describes the basis of accounting. Our report is intended solely for LUANAR- Africa Centre of Excellence in Aquaculture and Fisheries Project (ACE -AQUAFISH) funded by the World Bank and being implemented by Lilongwe University of Agriculture and Natural Resources (LUANAR) and should not be distributed to or used by parties other than Lilongwe University of Agriculture and Natural Resources (LUANAR) Africa Centre of Excellence in Aquaculture and Fisheries Project (ACE -AQUAFISH), Malawi Government and World Bank. Our opinion is not modified in respect of this matter. Other information Management is responsible for the other information. The other information comprises the Executive Summary, the Statement of the Management's Responsibilities and the Supplementary Information. The other information does not include the statement of receipts and payments and our auditor's report thereon. Our opinion on the statement of receipts and payments does not cover the other information and we do not express an audit opinion or any form of assurance conclusion thereon. Other information In connection with our audit of the statement of receipts and payments, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the statement of receipts and payments or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE- AQUAFISH) INDEPENDENT AUDITOR'S REPORT (Continued) For the year ended 30 June 2018 Responsibilities of management for the statement of receipts and payments Management is responsible for the preparation and fair presentation of statement of receipts and payments in accordance with the cash receipts and disbursements basis of accounting, and for such internal control as management determine is necessary to enable the preparation of the statement of receipts and payments that is free from material misstatement, whether due to fraud or error. In preparing the statement of receipts and payments, management is responsible for assessing the Project's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Project or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the statement of receipts and payments Our objectives are to obtain reasonable assurance about whether the statement of receipts and payments as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of the statement of receipts and payments. As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: * Identify and assess the risks of material misstatement of the statement of receipts and payments, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. * Obtain an understanding of internal control relevant to the audit 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 Project's internal control. * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. * Conclude on the appropriateness of ianagement's use of the going concern basis of accounting and based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Project's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the statement of receipts and payments or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of out auditor's report. However, future events or conditions may cause the Project to cease to continue as a going concern, * Evaluate the overall presentation, structure and content of the statement of receipts and payments, including the disclosures, and whether the statement of receipts and payments represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with management regarding, among other matters, the planned scope and tining of the audit and significant audit findings, including ny significant deficiencies in internal control that we identify during our audit. GWT THORNTON evelupembe Cartered Accountant (Malawi) vatner Lilongwe, Malawi Date t 2018 4 LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE- AQUAFISH) STATEMENT OF RECEIPTS AND PAYMENTS For the year ended 30 June 2018 Notes 2018 2018 2017 2017 MK uS $ MK us S RECEIPTS Opening balance 4 720,203,922 1,004,272 - World Bank grants income 4 - - 781,546,621 1,089,476 Other project income 4 215,456,077 299,848 127,881,103 177,613 Interest receivable 14,450,897 20,015 338,579 470 Exchange gain 5,572,029 - 4,682 - Miscellaneous income 457,104 633 244,865 340 Total receipts 956,140,029 1,324,768 910,015,850 1-f2L99 PAYMENTS PhD programmes 5,046,516 6,990 6,178,158 8,581 MSc programmes 32,492,735 45,004 48,686,959 67,621 Resources to support learning excellence 139,297,401 192,933 11,577,183 16,079 Research excellence 10,657,608 14,761 549,517 763 Attracting regional faculty and students 300,000 416 67,104 93 National, regional and international partners 15,734,295 21,793 2,705,972 3,758 National and regional partners 41,410,096 57,354 - - Management governance 185,643,740 257,124 45,621,693 63,363 Sustainable financing 140,000 194 1,210,910 1,682 Monitoring and evaluation 1,584,000 2,194 596,300 828 Other projects 248,828,018 344,636 72,618 132 100859 Total payments 681,134,409 94399 189,811928 26327 Excess of receipts over payments 275,620 381369 .20XI 99 1,004,279 Represented by Cash and cash equivalents 5 275M0.5,620 2U2 720 203,992 The statement of receipts and payments as indicated above was approved on J 2018 and is signed on its behalf byt VICE CHANCELLOR DIRECTOR OF FINANCE 5 LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE-AQUAFISH) NOTES TO THE STATEMENT OF RECEIPTS AND PAYMENTS For the year ended 30 June 2018 1. Project background Africa Centre of Excellence in Aquacul[ure and Fisheries (ACE -AQUAFISI) Project isa five (5) years Project (2016 - 2021) that aims to widen access to higher education. ACE-AQUAFISH project which is funded through a loan from World Bank to Malawi Government is coordinated by the Inter- University Council for East Africa and implemented by Lilongwe University of Agriculture and Natural Resources (LUANAR). The World Bank wih make available to Malawi a financial loan not exceeding USS6million to be used exclusively to finance the Project in the planned period, 2016 to 2021. 2. Basis of preparation The statement of receipts and payments of Lilongwe University of Agriculture and Natural Resources - ACE- AQUAFISII Project has been prepared for the purpose of reporting to donors as required under the terms of funding agreements. The reporting currency is the Malawian Kwacha (MK) The statement of receipts and payments has been prepared on a cash-basis of accounting where funding is recognised when received and expenses are recognised when paid. This is deemed to be an appropriate accounting treatnient. In addition, unliquidated funds as at period end are represented as cash balance in the statement of receipts and payments. 3, SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the statement of receipts and payments of Lilongwe University of Agriculture and Natural Resources - ACE- AQUAFIST Project. 3.1 Receipts Receipts relate to funds received from the World Bank, other project receipts, interest received, exchange gains and other income. Receipts are recognised when they are received and are measured at the actual amount received. 3.2 Payments These represent all payments made from the bank accounts of the Bunda ACE-AQUAFISH Project Forex Account Number 1860000031658 and ACE-AQUASFISH Project Local Account number 1970000108068. Payments arc recognised when paid and are measured at the actual amount paid. 3.3 Exchange rates Transactions in foreign currencies are translated into Malawi Kwacha using the rate ruling at the date of the transaction. Transactions in Malawi Kwacha are translated into United States Dollars at annual weighted average rates. Foreign currency balances at period end are translated using the rate at the reporting date. 3.4 Bank and unliquidated funds These are bank balances and all expenses incurred by the implementing partners but not yet liquidated by Lilongwe University of Agriculture and Natural Resources - ACE-AQUAFISH Project as at period end. LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE-AQUAFISH) NOTES TO THE STATEMENT OF RECEIPTS AND PAYMENTS For the year ended 30 June 2018 4. Grant income This represents the direct transfers from the World Bank into Lilongwe University of Agriculture and Natural Resource's Bunda ACE-AQUAFISH Project hank account held with FDI Bank Account Number 1860000031658 as follows: 2018 2017 MK USD MK USD Balance brought forward 720,203,922 1,004,272 -- Funds received from World Bank - - 781,546,621 1,089,476 Funds received from other projects: BIOFISA 131,570,653 182,996 - - ICHE - LEIBE 37,134,532 52,383 127,881,103 177,613 DAAD 46,750,892 64,469- Total Other Projects 215,456,077 299,848 127.881 103 177-613 Grand total 9 0909-427?24 LT-Owu8 5. Cash and cash equivalents 2018 2017 MK USD MK USD Local bank account 254,612,539 353,124 829,059 1,153 Forex bank account 20,393,081 28,245 288,340,380 403,606 Money market investment - 43L034 483 Total 2753005.620369 6. Exchange rates and inflation The foreign currency affecting most of the operations of the Project is United States Dollar. The average of selling and buying exchange rate of this currency and the country's national price index which represents inflation rate are as follows: 2018 2017 Malawi Kwacha to 1 United States Dollar (USD) 722.00 720.00 Inflation rate 8.60/ 14.2% At the time of signing the statement of receipts and payments, the exchange rate was as follows: United States Dollar (USD) 736.00 734.65 Inflation 9.7% 8.9% 7. Capital commitments There were no capital commitments as at year end requiring disclosure in the statement of receipts and payments. 8. Subsequent events Subsequent to the reporting date there were no significant events necessitating adjustments to/or disclosure in the statement of receipts and payments. LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE AQUAFISH) SUPPLEMENTARY INFORMATION The following pages do not form part of these audited Statements of-Receipts and Payments LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE-AQUAFISH) SUPPLEMENTARY INFORMATION EXPENDITURE AGAINST BUDGET ANALYSIS JULY 2017 - JUNE 2018 PROGRAMME ACTIVITIES B3udget Expenditure Expenditure Balance US$ MK US$ US$ PhD Programme 5.1.1.1 Train 7 national at PhD level from teaching & 7 learning 73,900 1,584,000 2,195 71,705 5.1.1.2Train 4 regional students to attend Phl training 48,200 576,000 798 47,402 5.1.1.3 'rain 1 full PhD scholarship regional students to 30,925 2,742,516 3,798 27,127 attend PhD training 30,925 2,74,51_3,78 2,12 5.1.1.4 'rain 4 members for partial PhD (research and 37,411 1400 199 37,12 supervisory) 37,411 144,00 199 37,21 5 1.1.5 'rain 5 partial PhlI) (tuition and sopervisoqy 39,408 - - 39,408 Sub total 229,844 5,06,516, 6,990 222,854 MSc Programme 5.1.2.1 Train 15 national students at MSc level in teaching & 109,944 4,345,759 6,019 103,925 learning 5.1.2 Send 7 regional students to attend MSc training 64134 - 64,134 51.2.3 Train 2 MlScs with full scholarship 25,772 5,792,400 8,023 17,749 5.1.2.4 Train support 8 partial scholarships at Msc level, 26455 565,680 783 25,67 only research support 5.1.25 MSc Internship 50,000 86,400 120 49,880 5.1,2.6 Train Support 11 partial scholarships at MSc level, 52,856 12505539 17321 35,535 only tuition and supervisory 52v856 12 505,532 17,321 35,53 5.1.2.7 Support partial scholarship students on stipend (for 36,000 9,196,964 12,738 23,262 those of GPA above 3.0) 361000 9 196196_12_73_23,26 Sub total 365,161 32,492,735 45,004 320,157 Resources to support learning excellence 5.1.3.1 Send 20 academic staff to attend short courses/ 31,710 31,710 retooling 5.1.3.2 24,100 - 24,100 5.1.3.3 Send Staff on long - term training at MSc Level 27,486 - 27,486 5.1.3.4 Send 2 regional staff to pursue MSc studies 20,724 - 20794 5.1.3.5 Send 20 academic staff to attend short courses/ 104,000 38,974,744 53,982 50,018 retooling 5.1.3.6. Send 10 technical staff to attend short courses/ 50,094 25,104,516 34,771 15,323 retooling 5009_2_14,1_3,71 5,2 5.1.3.7 Conduct short skills etshancensent/retooling for both MSc & Phi) 25,000 - 25,000 5.1.3.8 Organize regional members of staff exchange visits 108,000 21,817,816 30,19 77,781 to teach 5.1.3.9 Organize national staff exchange visits to teach 20,000 8,448,898 11,702 8,298 5.1.3.10 Organize staff internship/attachment (to industry) 42,000 - 42,000 5.1.3.11 Conduct tracer study 15,000 11,905,329 16,489 (1,489) 5.1.3.12 Tendering process 1,327 420,000 582 745 5.1.3.13 Procure library resources 7,500 - - 7,500 5.1.3.14 Curriculum review for PG programs 90,000 - 90,000 5.1.3.15 Organize retooling course in c-learning and other new teaching methods also experiential learning 40,00 6,401481 8,866 31,134 5.1.3.16 Develop c-learning materials 20,000 - 20,000 5.1.3.17 Enhance ICT 15,000 3,137,600 4,346 10,654 5.1.3.17 Equipment, chemicals and supplies 169,550 19,918,017 27,587 141,963 5.13.18 Rehabilitation of computer laboratories for5 72,756 3,169,000 4,389 68,367 departments Sub total 884,247 139,297,401 192,933 691,314 LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE-AQUAFISH) SUPPLEMENTARY INFORMATION EXPENDITURE AGAINST BUDGET ANALYSIS JULY 2017 - JUNE 2018 (Continued) PROGRAMME ACTIVITIES Budget Expenditure Expenditure Balance US$ MK US$ US$ Research excellence 5.2.1 Research agenda 14,536 1,964,705 2,720 11,816 5.2.2 PhD student research 28,000 864,000 1,197 26,803 5.2.3 MSc student research 77,000 4,739,800 6,565 70,435 5.2.4 Research for staff on long term training PhD 10,000 - - 10,000 5,2.5 Rcscarch for staff on long term training MSc 11,000 11,000 5.2.6 Ustablish and implement viable MoUs with privatc or 34,701 2,980,800 4,129 30,572 public institutions for applied reqcarcli4712,8,0 ,193,7 5.2.7 Staff research grant 100,000 - - 100,000 5.2.8 Renovate research facilities (ponds, tanks) 30,000 - 301000 .2.9 Scaling up best practices 32,000 - 32,000 5.2.10 Publish refereed journal articles 13,500 108,303 15) 13,350 5.2.12 Outreach programs 5,000 - - 5,000 5.5.13 Sciahig up fccd mill operations 4,000 - 4,000 Sub total 359,737 10,657,608 14,761 344,976 Quality assurance 53.3 Recruit external examiners 42,000 - 42,000 5.3.4 Support development 10,000 - -10,00 5.3.5 Accreditation 50,000 50,000 5.3.6 Accreditation regional 20,000 - 20,000 5.3.7 Self evaluation 15,000 - 15,000 5.3.8 Benchmarking (PASE1) 30,000 - 30,000 5.3.9 Develop an e-based evaluation form and student tracking 10,000 10,000 system1000- 1,0 Sub total 177,000 -177,000 Equity dimensions 5.4.1 Sensitization meetings on gender (staff and students) 22,500 22,500 5.4.3 Support special scholarships for female candidates at MSc level 30,514 - 30,514 5.4.4 Support special scholarships for female candidates PhD 14,740 14,740 level 5.4.5 Special needs students 5,000 - 5,000 Sub total 72,754 - - 72,754 Attracting regional faculty & students 5.5.1 Advertise for regional faculty and students 2,207 2,207 5.5.2 Market programs 7,500 300,000 416 7,084 5.5.4 Staff mobilization 20,000 - 20,000 5.5.5 Remedial courses - Course material development 12,000 - 12,000 Sub total 41,707 300,000 416 41,291 National, regional & international academic partners 5.6.1 Support reaching & learning Advertise for supply of lab & field supplies for teaching & 17,667 17667 learning materials 17,667 - -_17_667 Conduct exchange Visits 112,000 - 112,000 Train one staff at MSc level from (MAl ,DCO0) 10,557 10,5 LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE-AQUAFISH) SUPPLEMENTARY INFORMATION EXPENDITURE AGAINST BUDGET ANALYSIS JULY 2017 - JUNE 2018 (Continued) PROGRAMME ACTIIT IES Budget Expenditure Expenditure Balance US$ MK US$ US$ National, regional & international academic partners (continued) Train one staff at PhD level fron (CoV) 13,970 - 13,970 Research facilitation 2,200 2,200 5.6.2 Send 5 staff for short courses/ retooling 27,500 - - 27,500 5.6.3 Create 5 outreach and technology transfer nodes 10,000 - 10,000 5.6.4 Send 9 members of staff to attend conferences 21,131 13,017,993 18,030 3,101 5.5.5 Internship 30,000 2,716,302 3763 26238 5.6.6 Publications 2J11 - - 2111 Sub total 247,136 15,734,295 21,793 225,343 National& regional sector partners 5.7.1 Teaching & learning 17,667 - - 17,667 5.7.2 Suppoit staff exchange visits for sector partners 60,000 19,815,268 27,445 32555 5.7.3 Research facilities 20,000 13,311,943 18,438 1,562 5.7.4 Short courses / retooling 16,500 - - 16,500 5.7 5 Outreach & technology transfer 21,200 4,966,547 6,879 14,321 5.7.6 Send sector partners to attend conferences 12,000 1,388,130 1,922 10,078 5.7.7 -acilitate internships 30,000 - 30,000 5.7.9 Publications 2,500 1,928,208 2,670 (170) Sub total 179,867 41,410,096 57,354 122,513 Management & governance 5.9.1 Project inception workshop 18,141 2,404,826 3,331 14,810 5.9.2 Support salaries for coordination unit staff 32,700 10,085,772 13,969 18,731 5.93 Gratuity & benefits for project unit 12,690 502,406 696 11,994 5,9.4 Travel costs 8,975 8,040,009 11,136 (2,161) 5.9.5 Communicaton costs 7,200 2,164,400 2,998 4 202 5.9.6 Stationery & consumables 4,000 4,885,360 6,766 (2,766) 5.9.7 University utilities 41,765 10,037,161 13,902 27,863 5.9.8 Procure project furniture 25,000 19,245,800 26,656 (1,656) 5.9.9 Procure project equipment 28,700 15,309,393 21,204 7,496 5.9.10 Office supphes & refreshments 3,000 - 3,000 5.9.11 Set up and support international academic advisory 17,500 - 17,500 board 5.9.12 lold annual project stccring committee 44,000 3,800,100 5,263 38,737 5,913 Conduct national steering comnittee and its annual 7,200 2,363,397 3,273 3,927 mecings 7 5.9. 14 Hold project technical committee 7,348 7,866,200 10,895 (3,547) 5.9.15 Support international student's office 7,400 - 7,400 5.9.16 Procure project vehicle 58,238 39,976,313 55,369 2,869 5.9.17 Maintenance & vehicle insurance 15,000 945,426 1,309 13,691 5.9.18 Train L(ANAR management team on management 10,000 570,000 789 9,211 5.9.19 Financial management system 7,958 - 7,958 5.9.20 ACE II meeting for peer Iarnming 48,000 5,841,632 8,091 39,909 5.9.21 Audit fee 18,000 3,320,150 4,599 13,401 5.9.22 Coordination & networking 66,633 33,710,831 46,691 19,942 Bank charges 4,014,564 5,560 (5,560) Support Project implementation 15,000 10,560,000 14,627 373 Sub total 504,448 185,643,740 257,124 247,324 LILONGWE UNIVERSITY OF AGRICULTURE AND NATURAL RESOURCES (LUANAR) AFRICA CENTRE OF EXCELLENCE IN AQUACULTURE AND FISHERIES PROJECT (ACE-AQUAFISH) SUPPLEMENTARY INFORMATION EXPENDITURE AGAINST BUDGET ANALYSIS JULY 2017 - JUNE 2018 (Continued) PRG A E ACTIVITIES Bud1!! getI Expenditure Expen diture Balarce US$ M S S Sustainable financing 5.10.1 Conduct short courses 20 000 - 20,000 5.10.2 Conduct proposal writing workshop 116,518 140,000 194 116,324 5.1 0.3 Open & distance learning courses 3,800 3,800 Sub total 140,318 140,000 194 140,124 Monitoring & evaluation 5.11.1 Conduct monthly monitoring & evaluation 9,072 1,584,000 2,194 6,878 Sub total 9,072 1,584,000 2,194 6,878 Other projects Ich Liebe Fish project 141,087 83,590,001 115,776 25,311 BIOFISA project 171,046 122,342,237 169,449 1,597 DAAD 64,469 42,895,780 59,411 5,058 Sub total 376,602 248,828,018 344,636 31,966 GRAND TOTAL 3,587,983 681,134,409 943,399 2,644,584 The Average Conversational Rate of MK722 has been used to convert Malawi Kvacha expenditures to USS Expenditures for JULY 2017 to June 2018. 1. There is no provision of bank charges in the Project budget hence the charges are shown as overdrawn since these could not be avoided as they are generated by the bank were accounts are held. 2. Other projects shown are those projects whose funding are received through the ACE 11 bank accounts and they contribute to one of the DLIs of the project as stipulated in the project financing agreement. 써‘뻐