THE UNITED REPUBLIC OF TANZANIA    6DD
NATIONAL AUDIT OFFICE
REPORT OF THE CONTROLLER AND AUDITOR GENERAL ON THE FINANCIAL
STATEMENTS AND COMPLIANCE AUDIT OF DIT FOR EAST AFRICA SKILLS FOR
TRANSFORMATION AND REGIONAL INTEGRATION PROJECT (EASTRIP) FOR
THE FINANCIAL YEAR ENDED 30 JUNE 2021
Controller and Auditor General,
National Audit Office,
Audit House,
4 Ukaguzi Road,
P.O. Box 950,
41101 Tambukareli,
Dodoma, Tanzania.
Tel: 255 (026) 2161200,
Fax: 255 (026) 2117527,
E-mail: ocas@nao.go.tz
Website: www.nao.,go.tz
December, 2021                      AR/CG/EASTRIP/DIT/2020/21


Mandate
The statutory mandate and responsibilities of the Controller and Auditor General are
provided for under Article 143 of the Constitution of the United Republic of Tanzania,
1977 and in Sect. 10 (1) of the Public Audit Act, Cap. 418 [R.E 2021].
Vision
A credible and modern Supreme Audit Institution with high-quality audit services for
enhancing public confidence.
Mission
To provide high-quality audit services through modernization of functions that
enhances accountability and transparency in the management of public resources.
Motto: "Modernizing External Audit for Stronger Public Confidence"
Core values
In providing quality services, NAO is guided by the following Core Values:
i.    Independence and objectivity
ii.   Professional competence
iii.  Integrity
iv.   Creativity and Innovation
v.    Results-Oriented
vi.   Teamwork Spirit
We do this by:
" Contributing to better stewardship of public funds by ensuring that our clients
are accountable for the resources entrusted to them;
"  Helping to improve the quality of public services by supporting innovation on the
use of public resources;
V Providing technical advice to our clients on operational gaps in their operating
systems;
V Systematically involve our clients in the audit process and audit cycles; and
V  Providing audit staff with adequate working tools and facilities that promote
independence.
O This audit report is intended to be used by DIT implementing EASTRIP and may form
part of the annual general report, which once tabled to National Assembly, becomes a
public document; hence, its distribution may not be limited.
Controller and Auditor General                     AR/CG/EASTRIP/DIT/2020/21


TABLE OF CONTENTS
A b b re v ia tio n s  ..............................................................................................
1.0       INDEPENDENT          REPORT OF THE CONTROLLER AND AUDITOR GENERAL ..............
1.1       REPORT ON THE AUDIT OF FINANCIAL STATEMENTS...................................... 1
1.2       REPORT ON COMPLIANCE WITH                     LEGISLATIONS............................................. 4
2.0       FINANCIAL STATEMENTS ......................................................................... 6
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Controller and Auditor General                                                         AR/CG/EASTRIP/DIT/2020/21


Abbreviations
CAG         Controller and Auditor General
DIT         Dar es Salaam Institute of Technology
DIT DAR     Dar es Salaam Institute of Technology - Dar es Salaam
EASTRIP     East Africa Skills for Transformation and Regional Integration Project
IPSAS       International Public Sector Accounting Standards
ISSAIs      International Standard of Supreme Audit Institutions
MoEST       Ministry of Education, Science and Technology
PAA         Public Audit Act, Cap. 418 [R.E 2021]
PO-RALG     President's Office-Regional Administration and Local Government
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1.0  INDEPENDENT REPORT OF THE CONTROLLER AND AUDITOR GENERAL
Chairperson,
Governing Council,
Dar es Salaam Institute of Technology (DIT),
P.0 Box 2958,
DAR ES SALAAM, TANZANIA.
1.1   REPORT ON THE AUDIT OF FINANCIAL STATEMENTS
Opinion
I have audited the financial statements of DIT implementing the East Africa Skills for
Transformation and Regional Integration Project (EASTRIP), which comprise the
statement of financial position as at 30 June 2021, and the statement of financial
performance, statement of changes in net assets and cash flow statement and the
statement of comparison of budget and actual amounts for the year then ended, as well
as the notes to the financial statements, including a summary of significant accounting
policies.
In my opinion, the accompanying financial statements present fairly in all material
respects, the financial position of DIT ippl6Hienting the East Africa Skills for
Transformation and Regional Integration PT IP) as at 30 June 2021, and its
financial performance and its cash flows      /  en ended in accordance with
International Public Sector Accounting Standar*dQP5) Accrual basis of accounting and
the manner required by the Public Finance Act, Cap. 348 [R.E 2020].
Basis for Opinion
I conducted my audit in accordance with the International Standards of Supreme Audit
Institutions (ISSAIs). My responsibilities under those standards are further described in
the Auditor's Responsibilities for the audit of the financial statements section of my
report. I am independent of DIT implementing the East Africa Skills for Transformation
and Regional Integration Project (EASTRIP) in accordance with the International Ethics
Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA
Code) together with the National Board of Accountants and Auditors (NBAA) Code of
Ethics, and I have fulfilled my other ethical responsibilities in accordance with these
requirements.
I believe that the audit evidence I have obtained is sufficient and appropriate to provide
a basis for my opinion.
Key Audit Matters
Key audit matters are those matters that, in my professional judgment, were of most
significance in my audit of the financial statements of the current period. I have
determined that there are no key audit matters to communicate in my report.
Controller and Auditor General                     AR/CG/EASTRIP/DIT/2020/21


Other Information
Management is responsible for the other information. The other information comprises
the Statement by the Governing Council's Report and the Declaration by the Head of
Finance but does not include the financial statements and my audit report thereon.
My opinion on the financial statements does not cover the other information, and I do
not express any form of assurance conclusion thereon. In connection with my audit of
the financial statements, my responsibility is to read the other information and, in doing
so, consider whether the other information is materially inconsistent with the financial
statements or my knowledge obtained in the audit, or otherwise appears to be
materially misstated.
If, based on the work I have performed on the other information that I obtained prior to
the date of this audit report, I conclude that there is a material misstatement of this
other information, I am required to report that fact. I have nothing to report in this
regard.
Responsibilities of Management and those charged with Governance for the Financial
Statements
Management is responsible for the preparatiip ano.fair presentation of the financial
statements in accordance with IPSAS and,?       'h ternal control as management
determines is necessary to enable the pre        hnial statements that are free
from material misstatement, whether due to -<a  pr-'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 entity or to cease operations or has no realistic
alternative but to do so.
Those charged with governance are responsible for overseeing the entity's financial
reporting process.
Responsibilities of the Controller and Auditor General for the Audit of the Financial
Statements
My objectives are to obtain reasonable assurance about whether the financial
statements as a whole are free from material misstatement, whether due to fraud or
error and to issue an audit report that includes my opinion. Reasonable assurance is a
high level of assurance but is not a guarantee that an audit conducted in accordance
with ISSAIs 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 these financial statements.
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As part of an audit in accordance with ISSAIs, I exercise professional judgment and
maintain professional skepticism throughout the audit. I 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 my 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 entity'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 entity's ability to continue as a going concern. If I conclude that a material
uncertainty exists, I are required to draw attention in my audit report to the related
disclosures in the financial statements  l if'mach disclosures are inadequate, to
modify my opinion. My conclusions are.       audit evidence obtained up to
the date of my audit report. However,- 'ts or conditions may cause the
entity to cease to continue as a going concgy.i
*  Evaluate the overall presentation, structure and content of the financial statements,
including the disclosures, and whether the financial statements represent the
underlying transactions and events in a manner that achieves fair presentation.
I 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 I identify during my audit.
I also provide those charged with governance with a statement that I 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 my
independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, I determine those
matters that were of most significance in the audit of the financial statements of the
current period and are, therefore, the key audit matters. I describe these matters in my
audit report unless law or regulation precludes public disclosure about the matter or
when, in extremely rare circumstances, I determine that a matter should not be
communicated in my report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such communication.
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Controller and Auditor General                     AR/CG/EASTRIP/DIT/2020/21


In addition, Section 10 (2) of the Public Audit Act, Cap. 418 [R.E 2021] requires me to
satisfy myself that the accounts have been prepared in accordance with the appropriate
accounting standards.
Further, Section 48(3) of the Public Procurement Act, 2011 requires me to state in my
annual audit report whether or not the audited entity has complied with the procedures
prescribed in the Procurement Act and its Regulations.
1.2   REPORT ON COMPLIANCE WITH LEGISLATIONS
Compliance with the Public Procurement Act, 2011 (as amended in 2016)
Subject matter: Compliance audit on procurement of works, goods and services
I performed a compliance audit on procurement of works, goods and services in the DIT
implementing the East Africa Skills for Transformation and Regional Integration Project
(EASTRIP) for the financial year 2020/21 as per the Public Procurement Act, 2011 and
its regulations of 2013 (as amended in 2016).
Conclusion
Based on the audit work performed, I state tat procurement of goods, works and
services of the DIT implementing the East Afica  i  or Transformation and Regional
Integration Project (EASTRIP) is generatty,f     with the requirements of the
Public Procurement Act, 2011 and its underl   gulations of 2013 (as amended in
2016).                                  ^x 1,
Benjamin M ashauri
Ag. Controller and Auditor General
Dodoma, United Republic of Tanzania
31 December, 2021
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Controller and Auditor General                     AR/CG/EASTRIP/DIT/2020/21


The United Republic of Tanzania
Dar es Salaam Institute of Technology
East Africa Skills for Transformation and Regional Integration Project (EASTRIP)
Copy to:    Chief Secretary,
President's Office - State House,
1 Julius Nyerere Road,
Chamwino,
P.O. Box 1102,
40400 DODOMA.
Permanent Secretary,
Ministry of Finance and Planning,
Government City-Mtumba,
Hazina Street,
P.O. Box 2802,
40468 DODOMA.
Permanent Secretary,
Ministry of Education, Science and Technology (MoEST),
Government City,
Mtumba Area,
P.O Box 10,
DODOMA.
Principal,
Dar es Salaam Institute of Tec  1(DT),
P.O Box 2958,
DAR ES SALAAM,
TANZANIA.
World Bank Representative,
50 Mirambo Street,
P.O. Box 2054,
DAR ES SALAAM,
TANZANIA.
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Controller and Auditor General                    AR/CG/EASTRIP/DIT/2020/21


THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
1.0   FINANCIAL STATEMENTS
1.0.   THE PROJECT BASIC INFORMATION
1. 1.  Introduction
The East African Skills Transformation and Regional Integration Project (EASTRIP) is a
World Bank funded project which aims to improve access and quality of TVET training
in the region. The project (P163399; Credit Number IDA/63330) will establish a
Regional Flagship ICT Centre (RAFIC) at DIT Main Campus. The project development
objective is to increase access and improve quality of technical education as well as
promoting regional integration.
1.2.  Project Development Objective
The primary objective of establishing the Regional Flagship ICT Centre is to provide
quality ICT training and services, focusing on Developing Demand-Driven TVET
Programs both short and long term training programs including cyber security solutions
that will enable communities in the region to maintain and secure their digital assets
to the best possible standards and quality. The objectives of RAFIC annual
performance are:-
*   To comply with Strategic Investment Plan (SIP) and Section 10 (2) (k) of the Act as
amended by section 37 of the written Laws (Miscellaneous Amendments) Act, No
11 of 2010;
*   To outline targets to be performed by EASTRIP;
*   Monitor and measure performance against targeted output;
*   Use Performance Plans as the basis for assessing the suitability of the Project to
assess whether the RAFIC has achieved the performance expected.
1.3.  Project Components
The project has six components, namely: -
i) Strengthening Governance and Leadership of the Regional Flagship ICT Centre;
ii) Institutionalizing Industrial Linkage;
iii) Developing market relevant and competency based training programs;
iv) Training of Centre Managers and Instructors;
v) Upgrading key training facilities and equipment; and
vi) Outreaching and support for non-project national TVET.
1.4.  Mission
Increase in Internet access, Low cost of ICT equipments, Contents and services are
moving online, Usage of social media, A shift to the Digital Economy supported by
Internet of Things (loT), Artificial Intelligence (Al), Blockchain and Security.
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Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
1.5.  Vision
The EASTRIP (RAFIC Project) vision is to become a world-class ICT Centre in
professional delivery of industry standard digital skills. The main objective of
establishing Regional Flagship ICT Centre at DIT is to contribute to development of
relevant and qualified skilled workforce in ICT to meet Labor market needs in East
African Region through provision of high quality and competitive technical education
for socioeconomic development.
RAFIC PROJECT has completed three year of implementation 2020/2021. The EASTRIP
financial Agreement between World Bank and the Government of Tanzania was
finalized and signed on 21st March 2019 and effective date of commencement of
Project was 31st May 2019. EASTRIP inauguration was 11th June 2019 in Ethiopia
where in Tanzania RAFIC and CELPAT were inaugurated on 12th December 2019.
Despite the late disbursement of the funds, the Project appreciates the effort of the
Institute to inject pre-financing in the tune ofTZS. 115,000,000 which enabled
implementation of some of activities which were crucial to ensure project
implementation is smooth.
1.6.  Project Financing
The approved budget for five years is USD 16,250,000. In this Financial Year 2019/2020
USD. 4,875,000 equivalent to TZS 11,106,031,426.13 was requested which is 30% of
approved budget for five years. Exactly USD 4,875,000 was disbursed to cover the
activities earmarked to be implemented in the first year. The realization of future
funds is performance based depending on meeting project goals/milestones and DLI.
The following is the summary of project cost allocation:
No.          Project component          Project cost(TZS)   Percentage
1.1   Strengthening  Governance   and    1,851,005,000.00        5%
Leadership of the Regional Flagship
ICT Centre;
1.2   Institutionalizing Industrial Linkage;  740,402,000.00     2%
1.3   Developing  market relevant and    1,480,804,000.00        4%
competency based training programs;
Training of Centre Managers and    2,221,206,000.00        6%
Instructors;
1.5   Upgrading key training facilities  29,616,080,000.00      80%
and equipment;
1.6   Outreaching and support for non-    1,110,603,000.00       3%
project national TVET.
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Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
1.7.  Institutional and Implementation Arrangements
DIT is overall implementing agency with judiciary and safeguards responsibility for
project execution.
DIT is implementing the project through a defined Project Implementation Unit (PIU).
The project implementation unit comprises of full time employee of DIT including a
Project Coordinator, Assistant Project Coordinator, Finance specialist, Procurement
Specialist, Health and Environmental Safeguards and Industrial and Linkage Specialist.
The overall responsibility PAD and POM implementation lines with DIT.
In general responsibility of DIT including the following: -
i) Management of the Designated Account (DA)
ii) Financial management and reporting on the overall project.
iii) Ensuring the execution of the Audit of the project.
iv) Preparing of Quarterly financial and biannual progress reports.
v) Management of the environmental and safeguards aspects and
vi) Oversight of the procurement and contract management activities of the executing
agencies.
1.8.  Project Implementation Period
According to the Project Appraisal Document (PAD) the project will be implemented
over a five (5) years period.
1.9.  Implementation Status
The financing agreement between GoT and IDA World Bank for implementation of
EASTRIP was signed on 31 March, 2019 and became effective in 31st May, 2019. However,
implementation of same few activities commenced before the project effecteness date.
1.10. Payments
The approved budget for five years is USD 16,250,000. In this Financial Year 2019/2020
USD 4,875,000 equivalent to TZS 11,106,031,426.13 was requested which is 30% of
approved budget for five years. Exactly USD 4,875,000 was disbursed to cover the
activities earmarked to be implemented in the first year. The realization of future funds
is performance based depending on meeting project goals/milestones and DLI.
1.11. Financial Performance
During the year under review, the Project recorded the revenue earned, expenses
incurred, and net results recorded during the current and previous year are
summarized below:
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Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
1.12. Project Financial Performance
Table one (1) summarizes the financial implementation of all key project activities.
The project overall financial performance was largely affected by the late
disbursement of
funds as a result, the project could only consume 3% and 16% of the disbursed funds
for the financial year 2019/20 and 2020/21 respectively. Most of the activities were
carried forward to 2021/22 financial year.
1.13. The Effect of COVID - 19
The COVID-19 pandemic which largely impacted implementation of most activities
such as:
1. Staff exchange severely affected as we have limited Institutions able to
accommodate our staff outside the country
2. Capacity building of instructors for international certification has also been
affected as the pandemic prevented much of travels
3. The project expected to do benchmarking visits in India, USA and Singapore to
learn about similar projects however this has also been significantly affected by
the pandemic
4. The project was expecting to bring in trainers from outside the country to train
staff on various training programs but they were also restricted by the pandemic
1.14. Project Implementation Status
COMPONENT 1 Strengthening centre governance and management
*  PIU established
*  ISO Certification Process (21001: 2018 - Management systems for educational
organizations)
*  Skills gap analysis for academic staff and administrative staff
*  Development of Policies (ICT Policy, ICT Security Policy, and Business Continuity
Plan, Development of Environmental Safety and Social Health)
*  Capacity building for DIT Governing Council
*  Capacity building of DIT Management (All heads of departments)
COMPONENT 2 Institutionalising industry links
*  Industrial Advisory Board established
*  Stakeholders engagement workshop during EASTRIP/ RAFIC Inauguration Week
*  Development of Stakeholders Engament Guideline
*  Development Staff Industrial Attachment Evaluation Tools
*  Finalising two MoUs
COMPONENT 3 Developing/implementing market relevant and competency based
training
* Review of 8 existing ICT related programme is ongoing
* Curriculum development capacity building (NACTE + Tanzania Private Sector
Foundation)
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Controller and Auditor GeneraIAR/CG/EASTRIP/DIT/2020/21


THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
* Review of existing short term programmes
COMPONENT 4 Training of school managers and teachers
* MIT Pedagogy Training (40 participants, some from NIT and ATC)
* MSc in Cyber Security (Two staff)
COMPONENT 5 Upgrading key instructional facilities and equipment
*  Procurement of consultant for Environmental impact assessment - ongoing -
evaluation stage
*  Procurement of consultant for Design and Supervision of RAFIC Buildings and
Hostel(s) - evaluation stage
*  Procurement of consultant for ICT Infrastructure - evaluation stage
*  Procurement of consultant Project Vehicles (Station wagon and Mini bus)- awarding
stage
*  Procurement of the Procurement Specialist - evaluation stage
COMPONENT 6 Outreaching and support for non-project national TVET
* Support of Military School of ICT in curriculum development
* Support Gender Policy - Draft policy is ready and will be submitted to the
Governing Council for approval in October 2020
The average number of male and female participated in all Project Activities for this
year was 288. Out of this number, 53 were females - equivalent to 18% and 235 were
male- equivalent to 82%. The RAFIC in Dar es Salaam Institute of Technology gives
equal opportunity to all Tanzanians regardless of their gender.
1.15. Going Concern
Continuation of the activities of the Project was contingent upon satisfying IDA
requirements so as to secure approvals at various stages of implementation apart from
the financial covenants stipulated in the financing agreement. During the year under
review, the project management satisfied IDA requirement therefore approval of
requesting of find was given. The going concern basis has been adopted in preparing
the financial/statement. The management has no reason to believe that project will
not be a going concern in the foreseeable future based on the loan agreement
between Government and World Bank.
1.16. Risk Management and Internal Control
The project management accepts final responsibility for The Risk Management And
Internal Control Systems of the project. It is the task of management to ensure that
adequate internal financial and operational control systems are developed and
maintained ongoing  basis in order to provide reasonable assurance regarding the
effectiveness and efficiency of operations:
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THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
i) Safeguarding of perfect's assets and information.
ii) Compliance with the applicable laws, regulations and supervising requirements.
iii) The reliability of accounting records.
iv) Compliance with Loan Agreement covenants.
v) Business sustainbling under normal as well as adverse.
vi) Responsible behaviour towards all stakeholders.
STATEMENT OF MANAGEMENT RESPONSIBILITY FOR THE YEAR ENDED 30 JUNE, 2021
Pursuant to Section 25(4) of the Public Finance Act, 2001 (R.E 2016), The Management is
required to prepare financial statements for each financial year, which give a true and fair
view of receipts and payments of the reporting entity as at the end of the respective
financial year. It also requires Management to ensure the reporting entity keeps proper
accounting records, which disclose with reasonable accuracy at any time the financial
position of the reporting entity. The Management is also responsible for safeguarding the
assets of the entity.
The project management accept responsibility for annual financial statement for the year
ended 30 June, 2021 which have been prepared using appropriate accounting policies
supported by reasonable and prudent judgments and estimates, in conformity with
International Public Sector Accounting Standards Accrual Basis (IPSAS - Accrual) and in the
manner required by Section 25(4) of the Public Finance Act, 2001 (R.E. 2004), Section
15(1) of the Executive Agencies Act No. 30 of 1997 (amended 2009), the Agency's
Accounting Manual and the Financing Agreement.
The Project Management is of the opinion that, the financial statements give a true and
fair view of the state of the financial affairs of the Project. Management, further, accepts
responsibility for maintenance of accounting records that may be relied upon in the
preparation of financial statements, as well as adequate systems of internal financial
control. Management is responsible for safeguarding the assets of the project and hence
for taking reasonable steps for prevention and detection of frauds, errors and
irregularities. This responsibility includes; designing, implementing and maintaining
internal control relevant to the preparation and fair presentation of financial statements
that are 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.
To the best of the Management's knowledge, the system of internal control has operated
adequately throughout the reporting period and that the records and underlying accounts
provide a reasonable basis for the preparation of the financial statements for the financial
year 2020/2021. The Management accepts responsibility of the integrity of the financial
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THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
statement, the information it contains and its compliance with the Public Finance Act,
2001 (Revised 2004). The Executive Agencies Act, 1997, Instructions from the Treasury and
the Financing Agreement.
Procurement of goods, works, consultancy and non-consultancy services to the extent that
they are reflected in these financial statements have been done in accordance with the
Public Procurement Act, 2011, amended 2016 and Public Procurement Regulations, 2013,
amended 2016.
At the time of preparation this report, there was no evidence that came to the attention
of the project Management to signify that the Project will cease its operations; therefore,
EASTRIP (RAFIC Project) expects to continue in operation as a going concern from the date
of this statement.
Prof. Preksedis Marco Ndomba
PRINCIPAL
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Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
DECLARATIONOF THE HEAD OF FINANCE DEPARTMENT FOR THE YEAR ENDED 30 JUNE,
2021
The National Board of Accountants and Auditors (NBAA) according to the power conferred
under the Auditors and Accountants (Registration) Act No. 33 of 1972, as amended by Act
No. 2 of 1995, requires financial statements to be accompanied with a declaration issued
by the Head of Finance responsible for the preparation of financial statements of the
entity concerned.
It is the duty of a Professional Accountant to assist the Governing Council and Management
to discharge the responsibility of preparing financial statements of an entity showing true
and fair view of the entity position and performance in accordance with applicable
International Accounting Standards and statutory financial reporting requirements. Full
Legal responsibility for the preparation of financial statements rests with the Governing
Council as under Governing Council Responsibility statement on the earlier page.
1, CPA (T) Rajabu M. Mirambo, being the Head of Finance Department of the Dar es Salaam
Institute of Technology hereby acknowledge my responsibility of ensuring that EASTRIP
(RAFIC Project) financial statements for the year ended 30th June 2021 have been prepared
in compliance with International Public Sector Accounting Standards (IPSAS).
1, thus confirm that the financial statements present a true and fair view position of the
RAFIC Project in Dar es Salaam Institute of Technology as on that date and that they have
been prepared based on properly maintained financial records.
Name                                                g
Signed
Position                                           k(       d
NBAA Membership No                                                / V
Date
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Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
COMMENTARYON THE FINANCIAL STATEMENTSFOR THE YEAR ENDED 30JUNE, 2021
1. INTRODUCTION
The Financial Statements for the year for the year ended 30June, 2021 provide a record of
the EASTRIP Project at DIT Main Campus: Financial Performance, Financial Position, Cash
flow, Change in Net Assets, Statement of Comparison of Budget and Actual Amounts and
Notes to the Financial Statements.
2. OVERVIEW OF FINANCIAL STATEMENTS
The financial statements present; Financial Position, Financial Performance, Changes in
Net Assets, Cash Flows, Comparison of Budget and Actual amounts, and Notes to the
Financial Statements of the EASTRIP Project as at 30 June, 2021.
3. FINANCIAL POSITION
Financial Position comprises; Cash and Cash Equivalents, Receivables, Property Plant and
Equipment, Work in Progress, Payables, Deferred Income and Net assets.
3.1 Cash and Cash Equivalents
A total of TZS 8,880,623,820.89 remained as Cash and Cash Equivalents at closing date
which comprised TZS 6,123,445,802.73 held in Bank of Tanzania (BoT) Designated
Account and TZS 2,757,178,018.16 held in CRDB Bank Account.
3.2 Receivables
There was TZS 18,750,300 receivable for the year under review compared to the previous
year of TZS 21,790,600. Imprest of TZS 13,362,600 were retired from previous year and
TZS 10,322,300 were outstanding imprest for the year under review
3.3 Property, Plant and Equipment (PPE)
During the year under review, the project acquired two (2) motor vehicles amounted to
TZS 496,278,857.06; of which TZS 478,668,673.59 was reported under Property, plant and
Equipment after charging depreciation of TZS 17,610,183.47
3.4 Work in Progress
During the year under review, Work in Progress was TZS 99,324,000 compared to TZS
12,875,000 of the previous year. The increase of TZS 86,449,000 used in consultancy for
building and ICT infrastructures.
3.5 Payables
During the year under review there was payable of TZS 20,020,000 in respect of audit
fees compared to the previous year where there was unpaid audit fees and staff claim
amounting to TZS 49,185,600 which were settled during the year under review.
14
Controller and Auditor GeneraAR/CG/EASTRIP/DIT/2020/21


THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
3.6 Deferred Income
Deferred income for the year under review was TZS 8,870,926,120.66compared to TZS
10,704,562,554.20 of the preceding year. The deferred funds for the year under
review comprises unspent funds for training, operating expenses and infrastructure
costs.
3.7 Net Assets
Surplus for the preceding year was TZS 34,665,600.00 compared to TZS
562,077,370.63for the year under review which resulted to the Net Assets be TZS
34,665,600.00 and TZS 596,742,971.06for the financial year 2019/20 and 2020/21
respectively.
4. FINANCIAL PERFORMANCE
The project had total funds amounting to TZS 37,020,262,500.00 for executing project
activities of which TZS 11,106,031,426.13 received from World Bank for 2019/20; and
TZS 10,753,748,154.20 was a balance from previous years. TZS 1,880,832,069.15 was
consumed and recorded in the Statement of Financial Performance.
4.1 EXPENSES
Total expenses was TZS 1,318,754,698.52 during the year under review from TZS
385,233,014.00 of the previous year. The increase in expenses is caused by increase in
other training and operating expenses.
4.1.1 Depreciation
Depreciation charges for the year under review is TZS 17,610,186.43. Depreciation
charged is due to the acquisition of Motor Vehicle.
4.2 Surplus/Deficit for the year
Surplus for the year under review was TZS 562,077,370.63 was compared to
TZS 34,665,600.00 for the preceding year.
5. CASH FLOW STATEMENT
5.1 Cash Flows from Operating Activities
Total spending from operating activities of training and operating expenses amounting
to TZS 292,494,690.72 and TZS 1,034,775,121.37 respectively resulting to the net cash
out flows from operating activities of TZS 1,327,269,812.09 compared to TZS
10,748,193,412 of the previous year.
5.2 Cash Flows from Investing Activities
TZS 496,278,857.06 was spent for acquiring non-current assets and Work in Progress of
TZS 86,449,000.00 was used for consultancy of buildings and ICT infrastructures for the
year under review which resulted to Net Cash out flow of TZS 582,727,857.06 from
Investing Activities compared to a preceding year which was TZS 12,875,000.00
15
Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
5.3 Cash and Cash Equivalents
TZS 8,880,623,820.89 cash balance remained at closing date compared to
TZS 10,753,748,154.43 of the previous year.
5.4 RELATED PARTY TRANSACTIONS
There were no related party transactions during the year under review.
6. POLITICAL AND CHARITABLE DONATIONS
The Project had not contributed to any political party or made any charitable
donations.
7. PROCUREMENT
The Project prepared and implemented its procurement plan as per the Public
Procurement Act No. 7 of 2011 and its regulations of 2013 together with its amendments
of 2016.
8. AUDITORS
The Controller and Auditor-General (CAG) is the statutory auditor for the Ministry
pursuant to the provisions of Article 143 of the Constitution of the United Republic of
Tanzania, 1977 and in Sect. 10 (1) of the Public Audit Act, Cap. 418 [R.E 2021] and the
Public Finance Act, Cap. 348 [R.E 2020].
16
Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


THE UNITED REPUBLIC OF TANZANIA
DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE, 2021
ASSETS            Note       2020/21             2019/20
CURRENT ASSETS                               TZS                    TZS
Cash and Cash equivalents  2.3     8,880,623,820.89      10,753,748,154.20
Receivables               2.15       18,750,300.00          21,790,600.00
Total Current Assets              8,899,374,120.89      10,775,538,754.20
NON- CURRENT ASSETS
PPE                       2.4       478,668,670.63
Work In Progress          2.5        99,324,000.00           12,875,000.00
Total Non Current Assets           577,992,670.63           12,875,000.00
TOTAL ASSETS                      9,477,366,791.52      10,788,413,754.20
LIABILITIES
CURRENT LIABILITIES
Payables                  2.13       20,020,000.00          49,185,600.00
Deffered Income           2.16     8,860,603,820.46      10,704,562,554.20
Total Current Liabilities         8,880,623,820.46      10,753,748,154.20
NET ASSETS                         596,742,791.06           34,565,600.00
NET ASSETS
Accumulated Surplus                  596,742,971.06          34,665,600.00
TOTAL NET ASSETS                    596,742,791.06          34,665,600.00
Eng. Dr. Richard J. Masika                      Prof. Preksedis M. Ndomba
Chairperson - IDT Council                       PRINCIPAL - DIT
17
Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2021
STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR ENDED 30JUNE, 2021
Note          2020/21            2019/20
TZS                 TZS
REVENUE
Amortised Revenue        2.12         1,880,832,069.15    419,898,614.00
TOTAL REVENUE                        1,880,832,069.15    419,898,614.00
EXPENSES
Training costs           2.7            292,494,690.72    114,722,991.00
Operating costs          2.8          1,008,649,821.37    270,510,023.00
Depreciation             2.9            17,610,186.43
TOTAL EXPENDITURE                    1,318,754,698.52    385,233,014.00
SURPLUS                                562,077,370.63     34,665,600.00
Prof. Preksedis M. Ndomba
Eng. Dr. Richard J. Masika                        PRINCIPAL - DIT
Chairperson- DIT Council
18
Controller and Auditor GeneraIAR/CG/EASTRIP/DIT/2020/21


DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH JUNE, 2021
STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED 30JUNE, 2021
Details                   TZS                      TZS
Accumulated Surplus              Total
Opening Balance as at              34,665,600.00            34,665,600.00
1 July 2020
Surplus for the year              562,077,371.06           562,077,371.06
Balance as at 30th June           596,742,971.06           596,742,971.06
2021
Opening Balance as at                      0.00                     0.00
1 July 2019
Surplus for the year               34,665,600.00            34,665,600.00
Balance as at 30th                 34,665,600.00           34,665,600.00
June 2020
Prof. Preksedis M. Ndomba
Eng.Dr.Richard J. Masika                      PRINCIPAL - DIT
Chairperson- DIT Council
Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21
19


DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
CASH FLOW STATEMENT FOR THE YEAR ENDED 30JUNE, 2021
2020/21              2019/20
CASH   FLOWS    FROM   OPERATING   Notes           (TZS)                (TZS)
ACTIVITIES
Receipts                                                           11,106,031,426.00
Loan from DIT                       2.14                     -          36,330,600.00
Total Receipts                                                -    11,142,362,026.00
PAYMENTS
Training costs                       2.7          292,494,690.72       114,722,991.00
Operating costs                      2.17        1,034,775,121.37      279,445,623.02
Total Payments                                 1,327,269,812.09       394,168,614.02
Net  Cash  flows  from   operating            (1,327,269,812.09)   10,748,193,412.00
activities
CASH   FLOWS    FROM    INVESTING
ACTIVITIES
Work in Progress                     2.5           86,449,000.00        12,875,000.00
Acquisition of Motor vehicles        2.4          496,278,857.06                  0
Net cash flows from investing activities        (582,727,857.06)      (12,875,000.00)
CASH   FLOWS    FROM    FINANCING
ACTIVITIES
Net cash flows from financing activities
Net increase/(decrease) in cash and           (1,909,997,669.15)    10,735,318,412.00
cash equivalents
Cash and cash equivalents at the                10,753,748,154.43                  0
beginning of the year
Effect of exchange gain on Cash and  2.6           36,873,335.61         18,429,742.43
Cash equivalent
Cash and cash equivalents at end of  2.3        8,880,623,820.89    10,753,748,154.43
the year
Prof. Preksedis M. Ndomba
Eng.Dr.Richard J. Masika                          PRINCIPAL - DIT
Chairp rson- DIT Council
20
Controller and Auditor GeneraIAR/CG/EASTRIP/DIT/2020/21


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DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
2.0 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
GENERAL INFORMATION
2.1 Statement of Compliance and Basis of Preparation
The financial statement of the Project have been prepared in accordance with
international Public Sector Accounting Standards (IPSAS-Accruat Basis) and comply
with the Public Finance Act, 2001 as revised in 2020, the Executive Agencies Act,
1997 and the Financing Agreement.
The financial statements have been prepared on the basis of historical cost basis,
unless stated otherwise. The cash flow statement is prepared using the direct
method. The financial statements are prepared on an accrual basis.
2.2 Summary of Significant Accounting Polices
The accounting policies adopted for preparation of project's financial statements,
which will be consistent with those of subsequent years, are shown below.
a)    Foreign Currency Transaction
The Tanzania shilling is the project's functional and presentation currency.
1b)   Cash and Cash Equivalents
Cash and bank balances in the statement of financial position comprise cash
at banks and in hand and short-term deposits with an original maturity of
three months or less, and is measured at amortized cost. For the purpose of
the cash flow statement, cash and cash equivalents consist of cash and cash
equivalents as defined above, net of outstanding bank overdrafts.
C)    Revenue Recognition
The Project receives its revenue from the IDA in line with the signed Loan
Agreement between the World Bank and the Government of Tanzania.
Grants Revenue from the World Bank is accounted for on accrual basis.
Grants from the World Bank are revenue from Non exchange transactions
and are recognized in the financial statements when it is probable that
future economic benefit will flow to the project and if the benefit are
reliably measured.
IPSAS 23 Para 44 requires the inflow of resources from non-exchange
transaction to be recognised both as revenue and an asset except to the
extent that a tiabiLity is also recognized in respect of the same inflow.
Grants are recognised as income when such condition have been received
and expensed to match expenditure incurred with Grants received.
22
Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
d)    Going Concern Assumption
The financial statements have been prepared on the going concern
assumption. The validity of this assumption will largely depend on the
Institute to meet its obligation when they fall due.This indicates that the
EASTRIP be able to meet its obligations when they fall due.
e)    Events after Reporting Date
The reporting date for this Financial Statements is 30th June, 2021, there
have  been   no  material event favourable   or unfavourable  that
occurredbetween the date of Financial Statements and the date when the
Financial Statements were authorised for issue that would have had a
material impact on the Financial Statements.
f)    Judgements
The preparation of the Project's financial statements requires management
to make judgments, estimates and assumption that affect the reported
amounts of revenue, expanses, assets and liabilities, and the disclosure of
contingent liabilities, at the reporting date. However, uncertainty about
these assumptions and estimates could result in outcomes that could
require a material adjustment to the carrying amount of the assets or
liability affected in the future. In the process of applying the project's
accounting policies, management has made no specific judgment.
g)    Related Parties
The Project regards a related party as a person or an entity with the ability
to exert control individually or jointly, or to exercise significant influence
over the project or vice versa. Members of the project steering committee
and member of the project implementation team are regarded as related
parties.
h)    Property, Plant and Equipment
Property, plant and equipment is stated at cost, excluding the costs of day-
to-day  servicing, less accumulated  depreciation  and  accumulated
impairment in value. Such cost includes the cost of any replacement parts
in accordance with the related recognition criteria. Depreciation is
calculated on a straight-line basis over the useful life of the assets. The
annual rates of depreciation which have been applied are:
Description                          Estimated Useful Life
Administration assets
Buildings                                         25
Motor Vehicles:
Heavy duty (5 tons and above)                     10
Light duty (below 5 tons)|                        5
Plant and Machinery                               15
Motor circle                                       7
Computer (Desktop and Laptop)                      4
23
Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
Description                            Estimated Useful Life
Administration assets
Furniture and Fixture                                5
Document   Processing  Equipment  eg.                7
Photocopiers
Intangible                                           4
Infrastructural assets
Water Wells Schemes/ Water Systems                   15
Drainage systems                                     15
2.3   Cash and Cash Equivalents
Item                                2020/21              2019/20
TZS                    TZS
BoT Designated Account No.           6,123,445,802.73          6,086,572,467.12
DIT EASTRIP Account (CRDB Bank)      2,757,178,018.16          4,667,175,687.09
Total                               8,880,623,820.89         10,753,748,154.21
2.4    Property, Plant and Equipment
Costs                Accumulation Depreciation/ Impairment
Details  At 1st  Addition   1 Total at 30  At 1st  Charge during  at 30th June  Carrying Value
July     Monetary     June, 2021    July    the year       2021
2020                                2020
TZS        TZS                      TZS       TZS           TZS           TZS
Motor           496,278,857.06  496,278,857.06      17,610,183.47  17,610,183.47  478,668,673.59
Vehicles    -
TOTAL       - 496,278,857.06 496,278,857.06     - 17,610,183.47 17,610,183.47 478,668,673.59
2.5 Work In Progress
Project expenditure represent the gross amount of costs incurred for Component
five (5) - Upgrading key instructional facilities and equipment which amount to TZS
86,449,000
Details                          2020/21 (TZS)        2019/20(TZS)
Consultancy building                       66,595,000.00         12,875,000.00
ESIA                                        9,195,000.00
ICT Infrastructure                         23,534,000.00
TOTAL                                     99,324,000.00          12,875,000.00
24
Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
2.6    Foreign Exchange Rate
DATE          DETAILS      DEBIT (USD)     RATE            AMOUNT (TZS)
30/06/2020    CLosing balance  2,663,604.00     2,285.09 I         6,086,572,467.12
30-06-20211   Closing Balance  2,663,604.00     2,298.93           6,123,445,802.73
Exchange Gain                                           |            36,873,335.61
2.7   Training Costs                                                    2019/20
Item                                              2020/21        2019/20
TZS               TZS
Componentl.1: Strengthening centre governance and                     87,119,991.34
management
Component 1.4 Train school managers and Teachers  292,494,690.72      27,603,000.00
Total                                          292,494,690.72   _   114,722,991.34
2.8   Operating Costs
Item                                                 2020/21          2019/20
______________________________TZS                        TZS
Component1.1: Strengthening centre governance and                 I
management                                           289,732,619.37   50,772,369.39
Component 1.2: Institutionalizing industry links      68,079,402.00   14,820,000.00
Componentl. 3:
Developing/implementing  market   relevant   and
competency based training Capacity building
424,906,800.00   149,046,653.63
Component 1.5 Upgrading Key Training Infrustracture  202,926,000.00              -
Component 1.6: Outreaching and support for non-project
national TVET                                          2,985,000.00   43,976,000.00
Accrued Audit costs                                   20,020,000.00   11,895,000.00
Total                                             1,008,649,821.37  270,510,023.02
25
Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
2.9   Depreciation Charges
Item                                            2020/21            2019/20
TZS               TZS
Depreciation                                       17,610,186.43               -
Total                                             17,610,186.43                -
2.10  Development Costs
Component 1.5 Upgrading Key Training Infrustracture
Work in Progress                                   86,449,000.00    12,875,000.00
Motor Vehicles                                    496,278,857.06               -
Total                                            582,727,857.06    12,875,000.00
2.11  Grant Received from IDA World Bank
The approved budget for five years is USD 16,250,000. In this financial year
2020/21 USD 4,875,000 equivalent to TZS 11,106,031,426.13 was rereceived, which
is 30% of the five years budget. Exactly 4,875,000 USD was disbursed to cover the
activities earmarked to be implemented in the first year. The realization of future
funds is performance based depending on meeting project goals/milestones and
DLI.
2.12  Amortized Revenue
Item                                          2020/21              2019/20
TZS                  TZS
Total Expenses as per financial performance  1,287,781,912.09       385,233,014.36
excluding depreciation
Receivables                                   10,322,300.00         21,790,600.00
Work in Progress                              86,449,000.00          12,875,000.00
Plant, Property Et Equipment                 496,278,857.06
Total                                      1,880,832,069.15       419,898,614.36
2020/21              2019/20
Item
TZS                  TZS
2.13 Payables
Audit Costs                                   20,020,000.00         11,895,000.00
Payable to DIT (Loan)                                    -           36,330,600.00
Staff Payables                                           -             960,000.00
Total                                        20,020,000.00          49,185,600.00
2.14 Loan from DIT
Payable to DIT                                        0.00           36,330,600.00
Total                                                 0.00          36,330,600.00
26
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DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
2020/21     I        2019/20
Item                                       TZS                  TZS
2.15 Receivables
Staff Imprests                                 18,750,300.00          21,790,600.00
Total                                         18,750,300.00          21,790,600.00
2.16 Deferred Income
Item                                   2020/21                    2019/20
TZS                          TZS
Opening Balance                            10,704,562,554.20
Receipts from World Bank                                 -       11,106,031,426.13
Exchange Gain                                 36,873,335.61          18,429,742.43
Total funds available                   10,741,435,889.81       11,124,461,168.56
Recurrent Expenditures excluding          (1,287,781,912.09)      (385,233,014.36)
depreciation
Purchase of motor vehicles                  (496,278,857.06)
Work In Progress                             (86,449,000.00)       (12,875,000.00)
Receivables                                     (10,322,300)       (21,790,600.00)
Deferred Income                           8,860,603,820.66      10,704,562,554.20
2.17 Operating Costs
Item                                    2020/21              2019/20
TZS                     TZS
Component1.1:   Strengthening  centre      335,877,919.37              50,772,369.39
governance and  management
Component 1.2: Institutionalizing industry  68,079,402.00              14,820,000.00
links
Componentl. 3: Developing/implementing
market relevant and competency based       424,906,800.00             170,837,253.63
training Capacity building
Component 1.5 Upgrading Key Training       202,926,000.00
Infrustracture
Component 1.6: Outreaching and support       2,985,000.00              43,976,000.00
for non-project national TVET
Staff Unpaid allowance                                                    960,000.00
Total                                    1,034,775,121.37            270,510,023.02
27
Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21


DAR ES SALAAM INSTITUTE OF TECHNOLOGY
EASTRIP FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE, 2021
2.18 Notes to the Cash Flow Statement
Reconciliation of Net Cash Flows from Operating Activities to Surplus/(Deficit)
Items                                       2020/21           2019/20
TZS                    TZS
Suplus from ordinary activities              551,755,070.63            34,665,600.00
Non Cash Movements
Exchange gain                                -36,873,335.61           -18,429,742.43
Depreciation MV                               17,610,186.43 -
Total Non Cash Movement                     -19,263,149.18           -18,429,742.43
Movement in Working Capital
Deferred Income                           -1,833,636,433.54        10,704,562,554.20
Increase/ Decrease in Payable               -29,165,600.00             49,185,600.00
Increase/ Decrease in Receivable              3,040,300.00            -21,790,600.00
Total Movement in working Capital        -1,859,761,733.54        10,731,957,554.20
Net Cash flows from Operating Activities  -1,327,269,812.09       10,748,193,411.77
2.19 The reconciliation of actual amounts on comparable basis between statement of
comparison of budget and actual amounts and cash flowstatement
Operating          Investing        Financing   Total
Actual  amount      1,278,084,212.09  582,727,945.00                1,860,812,157.09
on   comparable
basis       as
presented in the
statement    of
comparison   of
budget     and
actual amount
Timing                49,185,600.00        -             -            49,185,600.00
difference
Actual amount      1,327,269,812.09  582,727,945.00      -        1,909,997,757.09
in         the
statement    of
cash flow
28
Controller and Auditor GeneralAR/CG/EASTRIP/DIT/2020/21