MABS & J Partners Chartered Accountants Memnber firm of Nexia International, UK S1.1 Independent Auditors' Report and Audited Financial Statements Of Low Income Community Housing Support Project (LICHSP) Implemented by Palli Karma-Sahayak Foundation (PKSF) As at and for the year ended 30 June 2021 A member of ~ZNexia Iernational TABLE OF CONTENTS SL. NO. PARTICULARS PAGE NO. 01 Independent Auditors' Report 01-02 02 Statement of Financial Position 03 03 Statement of Profit or Loss 04 04 Statement of Changes in Equity 05 05 Statement of Cash Flows 06 06 Notes to the Financial Statements 07-15 MABS &J Partners Chartered Accountants Independent Auditors' Report To the General Body of Palli Karma-Sahayak Foundation (PKSF) Report on the Audit of Financial Statements Opinion We have audited the financial statements of Low Income Community Housing Support Project (LICHSP), which comprise the statement of financial position as at 30 June 2021, and the statement of profit or loss, statement of changes in equity and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies. In our opinion, the accompanying financial statements give a true and fair view of the financial position of Low Income Community Housing Support Project (LICHSP),as at 30 June 2021 and its financial performance and its cash flows for the year ended in accordance with the International Financial Reporting Standards (IFRSs). Basis for Opinion We conducted our audit in accordance with International Standards on Auditing (ISAs). Our responsibilities under th6se standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the project in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code), and we have fulfilled our ethical responsibilities in accordance with the IESBA Code and the Institute of Chartered Accountants of Bangladesh (ICAB) Bye Laws. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Responsibilities of management and those charged with governance for the financial statements Management is responsible for the preparation of the financial statements that give a true and fair view in accordance with the International Financial Reporting Standards (IFRSs) and other applicable laws and regulations and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the entity'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 operation, or has no realistic alternative but to do so. Those charged with governance are responsible for overseeing the entity's financial reporting process. Auditors' responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatements, whether due to fraud or error, and to issue an auditors' 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 t economic decisions of users taken on the basis of these financial statements. *Dhaka A member of Corporate Office: Motijheel Branch Office SMC Towfr (7th Floor) 21, Purana Paltan Line (4th & 7th Floor) Nex 33, Banani C/A, Road 17 Dhaka-1000, Bangladesh International Dhaka-1 Bangladesh Phone +88-02-58315469 58315471 I nernttoa)Phone +880-2-222275057-58 +880-2-222275365-66 Fax +880-2-48320936 E-mail info@mabsj.com E-mail info@mabsj.com Web www.mabsj.com Web www.mabsj.com MABS & J Partners Chartered Accountants 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 financial statements, 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 management'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 oncern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' 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 financial statements, including the disclosures and whether the financial statements present the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied' with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. We also report the following: a) We have obtained all the information and explanation which to the best of our knowledge and belief were necessary for the purpose of our audit and made due verification thereof; b) In our opinion, proper books of account as required by law have been kept by Palli Karma- Sahayak Foundation (PKSF) so far as it appeared from our examination of those books; and c) The statement of financial position and statement of profit or loss dealt with the report are in agreement with the books of account and returns. M S ParTners Date: Dhaka, 28 November 2021 Char ered Accountants 2 A member of International rA Low Income Community Housing Support Project (LICHSP) Implemented by Palli Karma-Sahayak Foundation (PKSF) Statement of Financial Position As at 30 June 2021 Particulars NAmount in BDT. [30June2021 30June2020 ASSETS A. Non-current assets 1,029,455,150 566,416,294 Property, plant and equipment 3 891,540 1,075,407 Loan to partner organizations (POs)-non current portion 1,028,563,610 L 565,340,887 B. Current assets 487,683,390 484,295,607 Loan to partner organizations (POs)-current portion 4 246,331,822 125,954,554 Cash and cash equivalent 5 108,229,495 310,562,906 Grant and other receivables 6 294,575 368,219 Service charge receivables 7 11,038,297 7,409,928 Advance to PO 8 1,789,200 - Current account with PKSF (Other then General Exp.) 9 120,000,000 40,000,000 Total assets (A+B) 1,517,138,540 1,050,711,901 CAPITAL AND LIABILITIES C. Capital fund and reserve 32,707,818 18,934,275 Retained surplus 10 32,707,818 18,934,275 D. Non-current liabilities 1,401,535,840 990,952,722 Loan for project 11 1,377,100,000 978,000,000 Provision for interest on loan - project 12 23,544,300 11,877,315 Deferred income (Grant for asset) 13 891,540 1,075,407 E. Current liabilities 82,894,883 40,824,904 Grant received in advance 14 60,592,719 20,893,923 Currdnt account with PKSF 15 (4,447,932) 866,574 Other liabilities 16 1,252,187 5,238,498 Loan loss provision 17 25,497,909 13,825,909 Total capital fund and liabilities (C+D+E) 1,517,138,540 1,050,711,901 The annexed notes from 1 to 26 form an integral part of these financial statements. Md. Mashiar afman Dr. Nomita Halder ndc Deputy Managing Director Managing Director Signed in terms of our separate report of even date annexed. 4 Dated: 28 November 2021 MAB Parners Dhaka, Bangladesh Chart red ccountants Low Income Community Housing Support Project (LICHSP) Implemented by IEA Palli Karma-Sahayak Foundation (PKSF) Statement of Profit and Loss For the year ended 30 June 2021 Particulars N 3t0s For the year ended 30 June 2021 30 June 2020 INCOME A. Operating income 36,608,423 19,542,602 Service charge 18 36,608,423 42,602 B. Non-operating income 23,031,265 25,043,697 Bank interest 19 546,194 5,618,516 Grant income 20 22,485,071 19,425,181 Total income (A+B) 59,639,688 44,586,300 C. EXPENDITURE 34,157,071 26,736,090 Manpower compensation (Salaries, allowances & others) 21 14,553,091 8,290,433 Institutional development and capacity building 22 90,860 359,737 Monitoring and evaluation 23 62,463 161,758 Program and project cost 24 4,146,688 7,467,247 Depreciation 3 183,867 225,499 Administrative expense 25 3,448,102 2,920,507 Loan loss provision expenses 17 11,672,000 7,310,909 D. Financial cost of operation 11,709,075 7,415,730 Borrowing cost 11,666,985 7,402,685 Bank charges and commission 42,090 13,045 Total expenditure (C+D) 45,866,146 34,151,820 Excess/(shortage) of income over expenditure 13,773,543 10,434,480 The annexed notes from 1 to 26 form an integral part of these financial statements. Md. Mashiar Raman Dr. Nomita Halder ndc Deputy Managing Director Managing Director Signed in terms of our separate report annexed. Dated: 28 November 2021 M & a Dhaka, Bangladesh Chart red ccountants 4 Low Income Community Housing Support Project (LICHSP) Implemented by Palli Karma-Sahayak Foundation (PKSF) Statement of Changes in Equity Fund For the year ended 30 June 2021 Particulars Capital Fund Total Balance as at 01 July 2020 18,934,276 18,934,276 Add: Excess/(shortage) of income over expenditure 13,773,43 13,773,543 Balance as at 30 June 2021 32,707,818 32,707,818 Balance as at 01 July 2019 8,499,796 8,499,796 Add: Excess/(shortage) of income over expenditure 10,434,480 10,434,480 Balanceas at30 June 2020 18,934,276 18,934,276 The annexed notes from 1 to 26 form an integral part of these financial statements. Md. Mashiar Rahiman Dr. Nomita Halder ndc Deputy Managing Director Managing Director Signed in terms of our separate report of even date annexed. Dated: 28 November 2021 MAB Parthers Dhaka, Bangladesh Charte ed ountants 45 Low Income Community Housing Support Project (LICHSP) Implemented by Palli Karma-Sahayak Foundation (PKSF) Statement of Cash Flows For the year ended 30 June 2021 Amount in BDT. Particulars 01 July 2020 to 01 July 2019 to 30 June 2021 30 June 2020 A. Cash flows from operating activities Excess/(shortage) of income over expenditure 13,773,543 10,434,480 13,773,543 10,434,480 Adjustment for items not involving the movement of cash Depreciation 183,867 225,499 Loan loss provision 11,672,000 7,310,909 11,855,867 7,536,408 Surplus changes in operating activities 25,629,409 17,970,889 Changes in operating activities (Increase)/decrease in loan to partner organization -non current (463222723) (296,636,355) portion (Increase)/decrease in loan to partner organization -current portion (120,377,268) (68,909,094) (Increase)/decrease in interest others receivable 73,644 1,065,957 (Increase)/decrease in service charge receivable (3,628,369) (3,764,832) (Increase)/decrease in current account with PKSF(Other then (80,000,000) (40,000,000) Increase/(decrease) in current account with PKSF (5,314,506) (2,781,312) Increase/(decrease) provision for interest on loan 11,666,985 7,402,685 Increase/(decrease) Advance to PO (1,789,200) - Increase/(decrease) in others liabilities (3,986,311) 1,980,994 (666,577,749) (401,641,956) Net cash inflows/(outflows) from operating activities (640,948,340) (383,671,069) B. Cash flows from investing activities Addition of fixed assets -_- Net cash inflows/ (outflows) from investing activities - - C. Cash flows from financing activities Load from other project 399,100,000 460,000,000 Increase/(decrease) in grant for Asset (183,867) (225,499) Increase/(decrease) in grant received in advance 39,698,797 20,893,923 Net cash inflows/(outflows) from financing activities 438,614,929 480,668,424 D. Net increase/(decrease) in cash and cash equivalents (202,333,411) 96,997,355 (A+B+C) Add: Opening cash and cash equivalents 310,562,906 213,565,551 Closing cash and cash equivalents 108,229,495 310,562,906 The annexed notes from 1 to 26 form an integral part of these financial statements. Md. Mashiaralman Dr. Nomita Halder ndc Deputy Managing Director Managing Director Signed in terms of our separate report annexed. Dated: 28 November 2021 MAB Pa ners Dhaka, Bangladesh Chart red ccountants 6 Low Income Community Housing Support Project (LICHSP) Implemented by Palli Karma-Sahayak Foundation (PKSF) Notes to the Financial Statements For the year ended 30 June 2021 1.0 Background 1.1 PKSF Palli Karma-Sahayak Foundation (PKSF), an apex development organisation, was established by the Government of Bangladesh (GoB) in May 1990, for sustainable poverty reduction through employment generation. Legally, PKSF is a "company not for profit" and is registered under the Companies Act of 1913/1994 with the registrar of joint Stock Companies. The legal structure of PKSF allows flexibility and authority to undertake programmes in a dynamic environment, implementing them throughout the country and manage its affairs as an independent organisation. The major objectives of PKSF are to: provide financial assistance and institutional development support to appropriate organisations for implementing sustainable inclusive financial programmes for reduction of poverty through creating productive employment opportunities for the moderate and ultra poor, small and marginal farmers and micro-enterpreneurs. PKSF works with the continuous support of semi-government & government organizations; voluntary agencies & societies; local government bodies; institutions; groups & individuals and will keep on moving forward to achieve its goal. PKSF, over the years, has gained in-depth understanding and valuable experience on the multi-dimensional aspects of poverty. Adding new dimensions to its mission in 2010, PKSF reshaped its core goal as "establishing human dignity", instead of limiting its efforts towards achieving economic freedom only and started undertaking new programs for altering this goals. PKSF has adopted disaster management and micro insurance programme under the fold of its social protection programmes. The Registered Office of PKSF is situated at "PKSF Bhaban", Plot: E-4/B, Agargaon Administrative Area, Sher-e-Bangla Nagar, Dhaka-1207, Bangladesh. 1.2 Low Income Community Housing Support Project (LICHSP) This is The World Bank funded project that aims to pilot a community led approach to low income housing. This approach will provide an integrated package of technical assistance, grants, and housing loans to targeted settlements with a view to improve living conditions and shelter. National Housing Authority (NHA) and Palli Karma-Sahayak Foundation (PKSF) is jointly implementing this project. It has five components, such as Part-A: Community Mobilization and Planning, Part-B: Urban Community Improvements and Upgrading, Part-C: Shelter Component and Lending Part-D: Monitoring and Evaluation and Learning and Part-E: Project Management, Training, and Capacity Building. NHA will develop the tertiary infrastructures i.e. road network, drainage system, water supply system, sewerage system under Component-A, B, D & E, will be implementing in Comilla city corporation & Sirajgonj Pourashabha. PKSF is implementing lending under Part-C through its Partner Organizations (POs) in all 9 municipalities (Sirajgonj, Narshingdi, Jessore , Pabna , Thakurgaon , Magura , Bagura , Shariatpur , Bhola ) and 4 City Corporations (Cumilla,Naranyangonj,Rangpur,Gazipur). The project duration is 5 years, out of which first 2 years is pilot phase and last 3 years will be roll-out phase. Total budget USD 57.50 million out of which PKSF will spend USD18.00 million as loans and grants. NHA will spend the remaining amount of the budget to develop the tertiary infrastructures. 1.3 Major objectives of LICHSP The objective of this project is to improve living conditions in selected low income and informal settlements in designated municipalities in Bangladesh. SJP (Dhakaj 7d Ac^ hi 2 Significant accounting policies 2.1 Basis of accounting The Programme's Low Income Community Housing Support Project (LICHSP) financial statements have been prepared under the historical cost convention on a going concern basis using the International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS) as adopted in Bnagladesh. Palli Karma-Sahayak Foundation (PKSF) generally follows the accrual basis of accounting or a modified form thereof for key income and exoenditure items. The significant accounting policies followed in the preparation and presentation of these financial statements are summarised below: 2.2 Revenue recognation Service charges Service charges include service charge receivable or received from Partner Organizations (POs) during the reporting period for their use of the credit fund and recognized as and when it becomes due. Service charge against any loan overdue by 60 days is not recognised as income of the relevant year, rather it is kept as off balance sheet item. Service charge realized against such loan is recognised as income of the year in which it is received. Interest on bank accounts Bank interest is recognized as interest income when it accrues unless collectability is in doubt. Other income All other income are recognized when the right to receive such income has been reasonably determined and all conditions precedent are satisfied. 2.3 Period These financial statements covered the year from 01 July 2020 to 30 June 2021. 2.4 Provision for liabilities Provisions for liabilities are recognised when there is a present obligation as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, and a reliable estimate of the amount can be made. Provisions are reviewed at each balance sheet date and adjusted to reflect the current best estimate. 2.5 Loan loss provision The loan loss provision policy of the PKSF is as under: Classification Status Days outstanding Rate Standard (Other than agriculture) Nil 2% i Standard (Agriculture) Nil 5% Watch list (Other than agriculture) 01-60 days 10% Watch list (Agriculture) 01-60 days 15% Substandard (Other than agriculture) 61-180 days 50% Substandard (Agriculture) 61-180 days 60% Doubtful (All) 181-365 days 80% Bad (All) Over 365 days 100% The loan loss provision policy is however applicable to loans only. 2.6 General a) The financial statements have been prepared in Bangladeshi Taka and figures have been rounded off to the nearest integer. b) Last year's figures have been rearranged to conform the current years presentation where necessary. IDhaka dAC 8 -4 4b 4k) 4) '1 4 6Y 4) 41 *1 *V & 41 4W - >4 U4*VU04 3. Property, plant and equipment Amount In BDT. COST DEPRECIATION Balance as Addition Adjustmen Balance as Charged Adjustmen Written down at 1 July during the t / disposal Balance as at Rate at 01 July during the t / disposal 30lJne 21 Jue 20 2020 year during the 30 June 2021 2020 year during the year year Furniture & fixture 375,641 - - 375,641 10 63,499 31,214 - 94,713 280,928 Telephone Set 1,600 - - 1,600 20 -591 202 - 793 807 Computer,Printer,UPS 720,980 - - 720,980 20 254,496 93,297 - 347,793 373,187 Office Equipment 441,000 - - 441,000 20 145,228 59,154 - 204,382 236,618 As at 30 June 2021 1,539,221- - 1,539,221 463,814 183,867 - 647,681 891,540 As at 30 June 2020 1,539,221 - - 1,539,221 238,315 225,499 - 463,814 1,075,407 * Dhaka * 'd AC 9 Note Particulars As at & for the year ended 30 June 2021 30 June 2020 4 Loan to PO under project - non current protion The amount represents loan outstanding as at 30 June 2021 with partner organizations against loan to (POs). Opening Balance 691,295,441 325,749,993 Add: Loan disbursed during the year 714,100,000 425,000,000 1,405,395,441 750,749,993 Less: Loan recovered during the year 130,500,009 59,454,552 1,274,895,432 691,295,441 Maturity- wise break up above amount is given below: Loan to PO's under LICHSP -Non Current Portion 1,028,563,610 565,340,887 Loan to PO's under LICHSP - Current Portion 246,331,822 125,954,554 1,274,895,432 691,295,441 5 Cash and cash equivalent Cash at bank: Short Notice Deposit (SND A/C) 80,229,495 282,562,906 Short Term Deposit (Exim Bank Ltd,Motijheel Branch) 28,000,000 28,000,000 108,229,495 310,562,906 5.1 Short notice deposit (SND A/C) Cash at Bank (Sonali Bank Ltd. Foreign Ex. Corp Br. No.1608903000051) 60,088,333 234,626,193 (Southeast Bank Ltd. Agargaon Br. SND-13100000287) 20,141,163 47,936,713 80,229,495 282,562,906 5.2 Short term investment in FDR Opening balance 28,000,000 28,000,000 Add: Investment during the year - - 28,000,000 28,000,000 Less: Encashment during the year -8,000,000 -8,000,000 28,000,000 28,000,000 6 Grant and other receivables Grant receivable for expenses- LICHSP - - Interest on FDR 294,575 368,219 294,575 368,219 7 Service charge receivables The amount represents service charges receivables from partner organizations as on 30 June 2021 against loan to POs. Opening balance 7,409,928 3,645,096 Add: Receivable during the year 11,038,297 7,409,928 18,448,225 11,055,024 Less: Adjustment during the year 7,409,928 3,645,096 11,038,297 7,409,928 Dhaka 10Mr 4D Note Particulars As at & for the year ended 30 June 2021 30 June 2020 8 Advance to PO Opening balance - - Add: Advance given during the year 1,789,200 - 1,789,200 - Details are given below: Thengamara Mohila Sabuj Sangha TMSS 572,600 - Eco-Social Development Organization 264,300 - Ad-din Welfare Centre 226,900 - PIDIM Foundation 218,600 - National development Programme ( NDP) 235,300 - Shariatpur Development Society(SDS) 164,200 - Grameen Jano Unnayan Sangstha(GJUS) 107,300 - 1,789,200 - 9 Current account with PKSF (Other then General Exp.) Opening balance 40,000,000 - Add: Receive during the year 100,000,000 40,000,000 140,000,000 40,000,000 Less: Paid during the year 20,000,000 - 120,000,000 40,000,000 10 Retained surplus/(deficit) Opening balance 18,934,276 8,499,796 Add : Excess of income over expenditure during the year 13,773,543 10,434,480 32,707,818 18,934,276 11 Loan for project Opening Balance 978,000,000 518,000,000 Add: Received during the year 399,100,000 460,000,000 1,377,100,000 978,000,000 12 Provision for interest on loan - project Opening Balance 11,877,315 4,474,630 Add: Addition during the year 11,666,985 7,402,685 23,544,300 11,877,315 13 Deferred income (Grant for asset) Opening balance 1,075,407 1,300,906 Transfer from grant recived in advance - - 1,075,407 1,300,906 Amortization of deferred income (183,867) (225,499) 891,540 1,075,407 W, 3 P 11bv' I4 Note Particulars As at & for the year ended 30 June 2021 30 June 2020 14 Grant received in advance Opening balance 20,893,923 (906,395) Add: Donation received during the year 62,000,000 41,000,000 82,893,923 40,093,605 Less: Transfer to deferred income (Grant for asset) - - Less: Transfer to grant income 22,301,204 19,199,682 60,592,719 20,893,923 15 Current account with PKSF PKSF current account (4,447,932) 866,574 (4,447,932) 866,574 16 Other liabilities External audit fee 100,000 100,000 Liabilities for Communication & visibilities 89,000 - Liabilities for maintenance 4,900 - Provision for program cost under LICHSP: Thengamara Mohila Sabuj Sangha (TMSS) 395,800 1,583,538 Eco-Social Development Organization (ESDO) 112,300 1,041,433 Ad-din Welfare Centre 112,500 430,350 PIDIM Foundation 108,800 818,749 National Development Programme ( NDP) 112,227 414,580 Shariatpur Development Society(SDS) 112,500 435,000 Grameen Jano Unnayan Sangstha(GJUS) 104,160 414,848 1,252,187 5,238,498 Dhaka 12 17 Loan loss provision As per the loan loss provision policy of PKSF, the management maintains a provision on the outstanding loan amount at the following rates: Classification status Days in arrear Rate Outstanding Provision 2021 2020 2021 2020 Standard: PO'S Current 2% 1,274,895,432 691,295,441 25,497,909 13,825,909 Watch list: PO'S 1-60 10% - - . Substandard: PO'S 61-180 50% - - . Doubtful: PO'S 181-365 80% - - . Bad: PO'S Over 365 100% - . _ Total 1,274,895,432 691,295,441 25,497,909 13,825,909 Movement of the Loan Loss Provision is as under: Provision required at the end of the year 25,497,909 13,825,909 Less:Provision made upto previous year 13,825,909 6,515,000 11,672,000 7,310,909 *1Dhaka* ddAcc 13 Notesi Particulars As at & for the year ended 30 June 2021 30 June 2020 18 Service charges This represents service charges earned during the year from the partner organizations (POs) against loan provided to PO's. Thengamara Mohila Sabuj Sangha TMSS 12,399,822 5,614,315 Eco-Social Development Organization (ESDO) 7,754,473 4,256,050 Ad-din Welfare Centre 2,674,085 1,866,296 PIDIM Foundation 4,267,633 2,849,554 National development Programme ( NDP) 5,311,513 3,929,015 Shariatpur Development Society(SDS) 2,688,724 396,451 Grameen Jano Unnayan Sangstha(GJUS) 1,512,172 630,921 36,608,423 19,542,602 19 Bank interest This amount represents the bank interest earned during the year against Special Notice Deposit (SND) Account lying with different banks. Account wise break up of the above amount is given below: Sonali Bank Ltd., Foreign Ex. Corp. Br. (CONTASA A/C) (3,145,889) 1,883,792 Southeast Bank Ltd. Agargaon Br. SND A/C 1,805,727 1,006,786 Interest on Short term Fixed deposits (FDR) 1,886,356 2,727,938 546,194 5,618,516 20 Grant income Grant income account under LICHSP 22,301,204 19,199,682 Amortization of deferred income 183,867 225,499 22,485,071 19,425,181 21 Manpower compensation (Salaries, allowances & others) Project Co-ordinator 3,291,367 2,358,000 Deputy Project Co-ordinator (Engineering) 1,971,392 1,574,462 Deputy Project Co-ordinator (Finance & Accounts) 1,676,588 484,500 Deputy Project Co-ordinator (Environment) 1,787,688 1,499,488 Deputy Project Co-ordinator (Housing Finance) 2,055,050 1,244,500 Officer (Engineering) 985,384 710,284 Messenger 607,624 419,200 Deputy Project Co-ordinator (MIS) 990,000 - Assistant Project Co-ordinator (Monitoring) 660,000 Officer-Data Entry & Admin Support 528,000 - 14,553,091 8,290,433 22 Institutional development and capacity building Tranining,Workshop & Seminar 1,860 359,737 Communication & Visibility 89,000 - 390860 359,737 23 Monitoring and evaluation Monitoring cost 62463 161,758 0 62,463 161,758 24 Program and project cost Thengamara Mohila Sabuj Sangha TMSS 1,355,500 1,583,538 Eco-Social Development Organization (ESDO) 476,701 1,041,433 Ad-din Welfare Centre 472,500 1,018,349 PIDIM Foundation 46,3500 818,749 National development Programme ( NDP) 471,159 1,014,433 ) Shariatpur Development Society(SDS) 472,500 1,028,116 Grameen Jano Unnayan Sangstha(GJUS) 441,978 962,629 4,146,688 7,467,247 14* Dhaka ORA Particulars As at & for the year ended Notes30 June 2021 30 June 2020 25 Administrative expenses Vehicle Operating Cost 1,924,900 1,920,000 Printing and Stationary 615,070 54,260 Office Rent & Utilities 701,832 701,832 Telephone,Mobile& Internet Bill 97,140 82,269 Recruitment Expenses - 53,434 Meeting Expenses 9,160 3,712 External Audit Expenses 100,000 100,000 Miscellaneous Expenses - 5,000 Procurement Expense 4 2 3,448,102 2,920,507 26 Subseauent event No circumstances have arisen since the statement of financial position date, which would require adjustments to or disclosure in the financial statements or notes thereto. * haka d Ac i ii 15