Public Disclosure Authorized \**N616 Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Guangdong Provincial Audit Office of the People's Republic of China Audit Report 4Wth# [2016) 140-# GUANGDONG AUDIT REPORT C2016) NO.140 Project Name: A #:8268 - CN Loan No.: 8268 - CN Guangdong Social Security Integration and Rural Worker Training Project Financed by the World Bank Project Entity: The World Bank Loan Project Management Office of Department of Human Resources and Social Security of Guangdong Province 2015 Accounting Year: 2015
目 录 ColltentS 一 审计师意见,,..,....,...,.... 1 1.Auditor&s 娜 inion....,....,3 二 财务报表及财务报表附注....,...,.... 6 11.Financial Statements andnotestothefinancialstatements....,6 ( 一 ) 资金平衡表....,.... 6 1.Balance Sheet,...,....,,.... 6 ( 二 ) 项目进度表..., 二,...., 二,.,,... 8 11,Summary of Sources and Uses offunds by Project ComPonent.,8 ( 三 ) 贷款协定执行情况表...,.,.,..,,.... 10 111.Statement of ImPlementation ofl0anagreement.... 10 ( 四 ) 专用账户报表....,.... n iv.speeial Account statement.... n ( 五 ) 财务报表附注.,..,....,.,.,..,... 13 v.notes to the Financial Statements.... 16 三 审计发现的问题及建议....,.... 20 m.audit Findings and Ree ~ endations....,.... 23
一 审计师意见 审计师意见 幼东省人力资源和社会保障厅世界银行贷款项目办公室 : 我们审计了世界银行贷款幼东城乡社保一体化和农民工培训项目 20 巧年 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 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 19 页 ) ( 一 ) 项目执行单位及幼东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和项目进度表是你办的责任, 编制贷款协定执行情况表和专用账户报表是广东省财政厅的责任, 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 1
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广东城乡社保一体化和农民工培训项目 20 巧年 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 我们审查了本期内由幼东省财政厅报送给世界银行的第 8268 一 03 号的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 中 4 地址 : 中国幼东省幼州市天河区黄埔大道西 361 号邮政簖码 :510630 电话 :86 一 20 一 87078157 传真 :86 一 20 一 87078201 2
1. Auditor's Opinion Auditor's Opinion To the World Bank Loan Project Management Office of Department of Human Resources and Social Security of Guangdong Province We have audited the special purpose financial statements (from page 6 to page 19) of Guangdong Social Security Integration and Rural Worker Training Project financed by the World Bank, which comprise the Balance Sheet as of December 31, 2015, the Summary of Sources and Uses of Funds by Project Component, the Statement of Implementation of Loan Agreement and the Special Account Statement for the year then ended, and Notes to the Financial Statements. Project Entity and Guangdong Provincial Finance Department's Responsibility for the Financial Statements The preparation of the Balance Sheet and the Summary of Sources and Uses of Funds by Project Component is the responsibility of your entity, while the preparation of the Statement of Implementation of Loan Agreement and the Special Account Statement is the responsibility of Guangdong 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; 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 Peoplpe, of China and Intemational Standards on Auditing. Those Ir, s0hrds fe74 ire that we comply with ethical requirements and plan and pefforni"the a- dit to,obtain reasonable assurance about whether the financial sfat'e'ments 1 are free- from material misstatement. An audit involves performii?g procediffe! to obtain audit evidence about the amounts and disclosures in the finandial'statemenis. The procedures selected depend on the auditor's judgfn6nt including't4o assessment of the risks of 3
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 Guangdong Social Security Integration and Rural Worker Training Project financed by the World Bank as of December 31, 2015, 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 examined the withdrawal application of No. 8268-03 and the attached documents submitted to the World Bank during the period. In our opinion, those documents comply with the project loan agreement and can serve as basis for loan 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. Guangdong Provincial 4it Offic June 16, 2016 e Peop 's Republic of China 4
Address: No. 361, West Huangpu Avenue, Tianhe District, Guangzhou City, Guangdong Province, P.R. China Postcode: 510630 Tel.: 86-20-87078157 Fax: 86-20-87078201 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 2015 4-12 A 31 El (As of December 31, 2015) Project Name: Guangdong Social Security Integration and Rural Worker Training Project Financed by the World Bank Prepared by: The World Bank Loan Project Management Office of Department Currency Unit: RMB Yuan of Human Resources and Social Security of Guangdong Province IT& Mflft M*M? Ai * i* NITmvitYA *- a Application of Fund Line No. Beginning Balance Ending Balance Sources of Fund LineNo. Beginning Balance Ending Balance Total Project Expenditures 1 55,980,496.28 87,036,724.23 Total Project 28 53,312,792.66 81,016,148.23,T A ropnation Funds FixedAs Tr2 - - Project Capital and 29 - Fixed Assets Transferred Capital Surplus 2. 4FAf3m3i -f Construction Expenditures 3 - - 30 - to Including: Grants be Disposed 3. 1P83&It Investments 4 - - Ttl r t Lan 31 50,175,800.00 60,326,429.34 Transferred-out Total Project Loan Construction in Progress 55,980,496.28 87,036,724.23 Total Project Investment 32 50,175,800.00 60,326,429.34 Construction in Progress Loan Investment Loan 6 - - (1) F 33 50,175,800.00 60,326,429.34 Receivable Foreign Loan Including: World Bank 7- Investment Loan - T1:R Inclu Including: IDA 34 Receivable Appropriation of 8 - - 35 50,175,800.00 60,326,429.34 Investment Loan IB3D Including :Appropriation 9 -*AHWMR 36 - of World Bank Investment Technical Cooperation Loan a#e 10 -- Equipment Co- Financing 37 -- Including: Equipment 11 - - Do mesi VL 38- Losses in Suspense T1, 1iankt 12 48,004,357.49 52,680,644.5C 2. AiHA rla Total Cash and Bank Other Loan- 1. as Bank 13 47,992,896.02 52,668,833.51 Appropriation of 40 - Investment Loan Including: Special 14 46,010,970.63 49,190,045.53 Including: World Bank 41 Account Loan 2. fcrh.ni an 15 11,461.47 11,81100 ' 42 Cash on Hand Bond Fund 4 )fr (To be continued) 6
SPr A d eceivable 16 1,459,679.54 8,228,680.20 Construction Expenditures to 43 Total Prepaid and Receivable be Offset Including: World Bank Loan 17 - Total Payable 44 1,949,015.72 6,571,59811 Interest Receivable World Bank Loan Commitment 18 - - Including: World Bank Loan 45 - - Fee Receivable Interest Payable World Bank Loan Service- Fee 19 - - World Bank Loan 46 - - Receivable Commitment Fee Payable S 20 - - World Bank Loan Service 47 - - Marketable Securities Fee Payable AlI, f 21 -- 48 -- Total Fixed Assets Other Payables Fixed Assets, Cost 22 -- 49 -- Appropriation of Fund X.it#iI. 23 - - 50 6,924.93 31,873,25 Less: Accumulated Depreciation Retained Earnings NZ?4K24 --- Fixed Assets, Net - Fixed Assets Pending Disposal 25-- Fixed Assets Losses in Suspense 26 - T l Application offund 27 105,444,533.31 147,946,048.93 0 1orces of Fund 51 105,444,533.31 147,946,048.93 7
(.&:) * R A&- ii. Summary of Sources and Uses of Funds by Project Component SUMMARY OF SOURCES AND USES OF FUNDS BY PROJECT COMPONENT I *M99i2015 4 12 A 31 U (For the period ended December 31, 2015) Project Name: Ouangdong Social Security lteration and Rural Worker Training Project Financed by the World Bank 204 t: r~ A )4t*ff: A- k5i Prepared by: The World Bank Loan Project Management Office of Department of Human Resources and Social Security of Guangdong Province Current Period Currency Unit: RMB Yuan Cumulative Current Period Current Period Current Period Life of PA Cumulative Actual Cumulative Budget Actual % Completed % Completed &* #-(Total Sources of Funds) 475,203,330.00 37,853,984.91 7.97% 941,667,520.00 141,342,577.57 15.01% -- JBRD & 91-. 247,074,030.00 10,150,629.34 4.11% 504,000,000.00 60,326,429.34 11.97% Guangdong Advanced Technical School of 56,938,140.00 556,693.10 0.98% 94,500,000.00 1,105,060.07 1.17% Lieht Industry (2) d ut Trad 1& Guangzhu 20,728,890.00 831,114A4 4.01% 63,000,000.00 1,256,188.15 1.99% Inustrye & Trade Techmelian Collepe n TY T l t 53,235,000.00 317,559.87 0.60% 63,000,000.00 779,624.47 1.24% dvanred Technical School I-tTheWorl d Bank Loan Project Management Office 116,172,000.00 5,291,135.35 4.55% 283,500,000.00 8,027,384.37 2,83% of Department of Human Resources and Social Security of Guanedong Province ecial Account of Guangdong - 3,154,126.58 - - 49,158,172.28 - Prvincial Finance Department _. I fz: J(Counterpart Financing) 228,129,300.00 27,703,355.57 12.14% 437,667,520.00 81,016,148.23 18.51% angdong Advanced Technical School of 40,950,000.00 12,312,814.77 30.07% 110,567,520.00 12,322,517.52 11.14% Light Industry (2) Trde T elfllch Guanogzou Industry & Trade Technican College 10,821,510.00 9,950,489.07 91.95% 63,000,000.00 37,386,860.85 59.34% (3vnc Technial Shoao 7,207,200.00 4,644,651,73 64.44% 67,000,000.00 25,211,369.86 37.63% TeWorld Bank Loan Project Management Office 169,150,590.00 795,400.00 0.47% 197,100,000.00 6,095,400.00 3.09% of De partment of Human Resources and Social Security of Guangdong Province *kt ITAwit(Total A Application of 475,203,330.00 31,056,227.95 6.54% 941,667,520.00 87,036,724.23 9.24% Funds) Gangdong Advanced Technical School of 97,888,140.00 5,977,955.61 6.11% 205,067,520.00 7,003,582.47 3.42% Light Industry ) T i Guangzhou 31,550,400.00 11,701,070.67 37.09% 126,000,000.00 39,695,522.56 31.50% Advance Tec Ial Schoul 60,442,200.00 4,955,519.88 8.20% 130,000,000.00 26,199,259.30 20.15% Bank Loan Project Management Office 285,322,590.00 8,421,681.79 2.95% 480,600,000.00 14,138,359.90 2.94% of Dep artent of Human Resources and Socil Security of Guangdong Province (5) F g --Q7 M%AIRPtr - Special Account of Guangdong Provincial Finance Department tt Difference 6,797,756.96 - - 54,305,853.34 I 1.) '&t~ 9,Change in Receivables 6,769,000.66 - - 8,228,680.20-2AfttfIt Change in Payables -4,622,582.39 - - -6,571,598.11-3.Ban k tt Change m Cash and - 4,676,287.01 - - 52,680,644.50-4.4U others - -24,948.32 - - -31,873.25-8
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( V9 ) *M W'o -1* iv. Special Account Statement * M 4 A SPECIAL ACCOUNT STATEMENT *MAI 2015 * 12 A 31 H (For the period ended December 31,2015 ff'0ik;ffv1: 4V t K -T- Jly )i 3 P Depository Bank: Guangzhou Branch, Project Name: Guangdong Social Security China CITIC Bank Integration and Rural Worker Training 7443021482600007167 Project Financed by the World Bank Account No.: 7443021492600007167 'RA-0v: 8268-CN IR TP # 1-11t A t Loan No.:8268-CN Currency: USD Prepared by: Guangdong Provincial Finance Department VAV A Part A-Account Activity for the Current Period Arnount +0 0 7,519,361.11 Beginning Balance J0 M -. Add: *M-Rff 9*1tc 1,090,136-34 Total Amount Deposited this Period by World Bank Total Interest Earned this Period if Deposited in Special Account * im T -2 4 - - ffi M A, 9 Total Amount Refunded this Period to Cover Ineligible Expenditures 3,776.70 Deduct: * M jv-1t 11-1,038,116.22 Total Amount Withdrawn this Period * M k fu 4 9 & j 4-1t K t in & * It jv_ w Total Service Charges this Period if not Included in Above Arnount Withdrawn M*+19 7,575,157.93 Ending Balance fri *PTo be continued)
Part B-Account Reconciliation Amount 1. 8000000.0 Amount Advanced by World Bank Deduct: 2. ftymftm996 Total Amount Recovered by World Bank 3. T P? 4 Th Outstanding Amount Advanced to the Special Account at the End 8,000,000.00 of this Period 4. m!~hw4~7,575,157.93 Ending Balance of Special Account Add: 5. Amount Claimed but not yet Credited at the End of this Period Application No. Amount 6. 429,750.48 Amount Withdrawn but not yet Claimed at the End of this Period 7. R -im di(p114t& S *fl 6 I t) Cumulative Service Charges (If not Included in Item 5 or 6) Deduct: 8. fulm-awa (WAf E 3) 4,908.41 Interest Earned (If Included in Special Account) 9. tf!e 5Xh Total Advance to the Special Account Accounted for at the End of 8,000,000.00 this Period 12
( 五 ) 财务报表附注 财务报表附注 1. 项目概况幼东城乡社保一体化和农民工培训项目贷款号为 8268 一 CN, 项目建设内容分为城乡社保一体化和农民工培训两个子项目 城乡社保一体化子项目由省人力资源社会保障厅负责实施 ; 农民工培训子项目由省人力资源社会保障厅以转贷方式选取幼东省轻工业高级技工学校 ( 以下简称省轻工学校 ) 幼州市工贸技师学院 ( 以下简称广州工贸学院 ) 云浮市高级技工学校 ( 以下简称云浮技校 )3 所技工院校负责实施 项目协议于 2013 年 7 月 22 日签定, 于 20 13 年 9 月 12 日生效, 关账日为 2018 年 12 月 31 日 项目计划总投资为人民币 941,667,520.00 元, 其中世界银行贷款总额为 50,000,000.00 粎元 ( 省人力资源社会保障厅 45,000,000.00 美元 省轻工学校 15,000,000.00 粎元 幼州工贸学院 10,000,000.00 美元 云浮技校 10,000,000.00 粎元 ), 折合人民币 504,000,000.00 元 ( 以 1 美元兑换人民币 6.30 元计算 ), 配套资金为人民币 437,667,520.00 元 2. 财务报表编制范围本财务报表的簖制范围包括幼东省人力资源和社会保障厅世界银行贷款项目办公室 ( 以下简称省项目办 ) 省轻工学校 广州工贸学院 云浮技校和省财政厅的财务报表 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 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 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 l3
3.4 按照中国人民银行 2015 年 12 月 31 日汇率, 即 USD 卜人民币 6.4936 元 4. 报表科目说明 4.1 项目支出 20 15 年项目支出人民币 31,056,27.95 元, 累计支出人民币 87,036,724.23 元, 占计划的 9.24% 4.2 货币资金 2015 年 12 月 31 日货币资金余额为人民币 52,650,644.50 元, 比上年增加人民币 4,676,287.01 元, 其中专用账户存款折合人民币 49,190,045.53 元 4.3 预付及应收款 20 巧年 12 月 31 日余额为人民币 8,228,680.20 元, 主要是省轻工学校预付工程款余额 4.4 项目拨款 2015 年 12 月 31 日余额为人民币 81,016,148.23 元, 是项目的配套资金 项目计划配套资金总额人民币 437,667,520.00 元, 截至 20 巧年 12 月 31 日到位配套资金人民币 81,016,148.23 元, 占计划的 18.51% 4.5 项目借款 20 15 年 12 月 31 日余额为人民币 60, 犯 6,429.34 元, 是国际复兴开发银行贷款 截至 20 巧年 12 月 31 日, 累计提取世界银行贷款 9,290,13634 美元, 占贷款. 悠额的 11.97% 4.6 应付款 2015 年 12 月 31 日余额为人民币 6,571,598.n 元, 主要是应付工程款 应付货物款和其他应付款 其中 : 省项目办人民币 l,616,183.78 元 ; 省轻 l4
工学校人民币 3,656,021.84 元 ; 幼州工贸学院人民币 l,091,127.52 元 ; 云浮技校人民币 208,264.97 元 4.7 留成收入 2015 年 12 月 31 日余额为人民币 31,873.25 元, 主要是省财政厅专用账户的银行存款利息收入 5. 专用账户使用情况专用账户设在省财政厅, 开户银行为中信银行广州分行, 账号为 7443021452600007167, 币种为美元 专用账户首次存款 8,000,000.00 美元 2015 年年初余额 7,519,361.11 美元, 本年度回补 1,090,136.34 美元, 利息收入 3,776.70 粎元, 本年度支付 l,038,116.22 美元, 年末余额 7,575,157.93 粎元 ( 含利息收入 4,908.41 美元 ), 折合人民币 49,190,045.53 元 6. 其他需要说明的事项 6.1 根据省财政厅和省人力资源社会保障厅的约定, 在各项目实施单位设二级指定账户, 余额合计为人民币 3,478,787.97 元, 分别为 : 省人力资源社会保障厅, 开户银行为中国银行广东省分行, 账号为 686062841937, 币种为人民币, 包括项目的世界银行贷款和配套资金, 余额为人民币 l,588,797.25 元 ; 省轻工学校, 开户银行为中国银行海珠支行, 账号为 665262551962, 币种为人民币, 余额为人民币 l,851,336.76 元 ; 广州工贸学院, 开户银行为中国工商银行广州黄石路支行, 账号为 3602074029200138071, 币种为人民币, 余额为人民币 38,653.96 元 ; 云浮技校, 开户银行为中国建设银行云浮云硫支行, 账号为 44001 8271 10053000952, 币种为人民币, 余额为人民币 0.00 元 6.2 财务报表的格式随同本项目财务管理手册获得世界银行的不反对意见, 项目进度表 ( 一 ) 资金运用合计中 广东省人力资源和社会保障厅世界银行贷款项目办公室 的累计完成额包括项目进度表 ( 二 ) 一体化子项目 和 农民工子项目 ( 省级活动 )& 的累计支出 15
v. Notes to the Financial Statements 1. Project Overview Notes to the Financial Statements The Loan No. of Guangdong Social Security Integration and Rural Worker Training Project financed by the World Bank is 8268 - CN. The Project is divided into 2 Sub-Projects, which are Social Security Integration and Rural Worker Training. Department of Human Resources and Social Security of Guangdong Province (DHRSSGP for short) is responsible for the implementation of the Sub-Project of Social Security Integration; by the methods of enlending, DHRSSGP selected 3 technical schools to be the Sub-Project implementation entities of Rural Worker Training, including: Guangdong Advanced Technical School of Light Industry (GDATSLI for short), Guangzhou Industry & Trade Technician College (GZITTC for short) and Yunfu Advanced Technical School (YFATS for short). The Project Agreement was signed on July 22, 2013 and came into effect on September 12, 2013. The expected closing date will be December 31, 2018. The total planned investment of the project is RMB941,667,520.00 yuan, including the World Bank loan of USD80,000,000.00 (equivalent to RMB504,000,000.00 yuan at a rate of USD1=RMB6.30 yuan) and the arrangements of the World Bank loan among the project entities would be provided as follows: USD45,000,000.00 to DHRSSGP, USD15,000,000.00 to GDATSLI, USD10,000,000.00 to GZITTC and USD10,000,000.00 to YFATS. The counterpart fund is RMB4379667,520.00 yuan. 2. Consolidation Scope of the Financial Statements Consolidation scope of the financial statements covers the financial statements of the Project Management Office of Department of Human Resources and Social Security of Guangdong Province (PMO for short), GDATSLI, GZITTC and YFATS, as well as the financial statements of the Guangdong Provincial Finance Department (GDFD for short). 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 (Cai Ji Zi (2000) No. 13 16
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. 3.4 The exchange rate adopted in the financial statements was the exchange rate on December 31, 2015 of the People's Bank of China, which is USD1= RMB6.4936 yuan. 4. Explanation of Subjects 4.1 Project Expenditures The project expenditure in 2015 was RMB31,056,227.95 yuan, and the cumulative expenditures were RMB87,036,724.23 yuan, which accounted for 9.24% of the total investment plan. 4.2 Cash and Bank On December 31, 2015, the balance was RMB52,680,644.50 yuan with an increase of RMB4,676,287.01 yuan compared with that of the last year. And the funds in the Special Account were converted to RMB49,190,045.53 yuan. 4.3 Prepaid and Receivables Its balance on December 31, 2015 was RMB8,228,680.20 yuan, mainly prepayments of civil works contracts of GDATSLI. 4.4 Project Appropriation Funds The balance on December 31, 2015 was RMB81,016,148.23 yuan, which were the counterpart funds of this project. The total planned counterpart funds of the project were RMB437,667,520.00 yuan. By the end of December 31, 2015, RMB81,016,148.23 yuan of the counterpart funds had been allocated, which accounted for 18.51% of the plan. 4.5 Project Loan 17
The balance on December 31, 2015 was RMB60,326,429.34 yuan, which was the World Bank loan. By the end of December 31, 2015, accumulated USD9,290,136.34 of the World Bank loan had been withdrawn, accounting for 11.97% of the total amount. 4.6 Payable The balance on December 31, 2015 was RMB6,571,598.11 yuan, mainly engineering payable, goods payable and the other payable. The details were as follows: PMO was RMBl,616,183.78 yuan; GDATSLI was RMB3,656,021.84 yuan; GZITTC was RMBl,091,127.52 yuan; YFATS was RMB208,264.97 yuan. 4.7 Retained Earnings The balance on December 31, 2015 was RMB31,873.25 yuan, mainly interest earned of bank deposit in the GDFD's Special Account. 5. Special Account The Special Account of this project is set in GDFD. The depository bank is Guangzhou Branch, China CITIC Bank, with the account number of 7443021482600007167, and USD as currency Unit. The initial Deposit of the Special Account is USD8,000,000.00. The beginning balance of 2015 was USD7,519,361.11 and the reimbursement in the year was USD1,090,136.34. The interest earned in this year was USD3,776.70 and the disbursement was USD1,038,116.22. Thus, the ending balance was USD7,575,157.93 (including the interest USD4,908.41), equivalent to RMB49,190,045.53 yuan. 6. Other Explanation for the Financial Statements 6.1 According to the appointment between GDFD and DHRSSGP, each project implementation entity should set up a Sub-Designated Account (Sub-DA for short), and the total balances were RMB3,478,787.97 yuan. The details are as follows: Firstly, the Sub-DA of DHRSSGP is set in Guangdong Branch, China Bank, with the account number of 686062841937 and RMB as 18
currency Unit, and the balance was RMBI1,588,797.25 yuan. This Sub-DA should include the World Bank loan and the counterpart funds. Secondly, the Sub-DA of GDATSLI is set in Haizhu Sub-Branch, Bank of China, with the account number of 665262551962 and RMB as currency Unit, and the balance was RMB1,851,336.76 yuan. Thirdly, the Sub-DA of GZITTC is set in Huangshi Road, Guangzhou Sub-Branch, Industrial & Commercial Bank of China, with the account number of 3602074029200138071 and RMB as currency Unit, and the balance was RMB38,653.96 yuan. Fourthly, the Sub-DA of YFATS is set in Yunliu Road, Yunfu Sub-Branch, China Construction Bank, with the account number of 44001827110053000952 and RMB as currency Unit, and the balance was RMBO.00 yuan. 6.2 The format of the financial statements, which was in this project's Financial Management Manual, had received the no objection opinion from the World Bank. The accumulated application of funds of PMO in the statement of Summary of Sources and Uses of Funds by Project Component I consist of the accumulated project expenditures in the Sub-Project of Guangdong Social Security Integration and the accumulated project expenditures of Provincial Activities in the Sub-Project of Rural Worker Training in the statement of Summary ofsources and Uses offunds by Project Component II. 19