INTEGRATED FINANCIAL MANAGEMENT INFORMATION SYSTEM (IFMIS) ADDITIONAL FINANCING PROJECT S GRANT NO H880 -GM MINISTRY OF FINANCE & ECONOMIC AFFAIRS (MOFEA) PROJECT FINANCIAL STATEMENTS & REPORTS FOR TIlE YEAR ENDED 31"t DECEMBER 2019 AUGUSTUS PROM AUDIT.TAX.ADVISORY REGISTERED AUDITORS CENTENARY BUILDING, 3RD FL. 3 KAIRABA AVENUE SERREKUNDA, KSMD THE GAMBIA JUNE 2020 0 FMIS Additional Financing Project - IDA Grant Agreement Number H880-GM Project Financial Statements & Reports for the year ended 31s December2019 Contents 1 General Information Page 1.1 Background 2 1.2 Audit Scope and objectives 4 1.3 Summary of audit results 6 9 2 Consolidated Project Financial Statements 2.1 Auditor's Report on the Project Financial Statements 10 2.2 Consolidated Statement of Sources & Uses of Funds 13 3 Notes to the Statements 3.1 Accounting Policies 15 4 Auditor's Report on the Special Accounts - IDA 4.1 Auditors Report on the IDA Special Account 19 4.2 IDA Special Account Statement by component 20 4.3 IDA Special Account Statement by category 21 5. Auditor's Report on the Special Accounts - GLF 5.1 Auditors Report on the GLF Special Account 23 5.2 GLF Special Account Statement by Component 24 5.3 GLF Special Account Statement by Category 25 6. Appendices 26 Appendix A -List of Ineligible Expenditure Appendix B -Budget Variance Reports Appendix C - Withdrawal Applications & Reconciliation Appendix D - Project Fixed Assets Appendix E - Government Subvention Received JEMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - Project Financial Statements & Reports for the Year ended 31st December 2019 1. General Information Members of the Project Steering Committee (PSC) iame Details Momodou Lamin Bah Accountant General, MOFEA Agnes Macaulay Accountant General MOFEA Momodou Salieu Jatta Deputy Director, Accountant General - MOF EA Juldehi Ceesay Deputy Director ICT - Accountant General - MOFEA Ebrima Darboe eputy Permanent Secretary, Fiscal - MOFEA Bai Madi Ceesay Director - Loans & Debt Management - MOFEA Amie Kolleh Jeng Director Budget - MOFEA Momodou Ceesay Director PFM -MOFEA Musa C a Director General - Internal Audit Musa Camara Deputy Permanent Secretary- PMO MustaPha Samateh Director DPPP/PE - MOFEA Elizabeth Bahoum Director - NRS Nyakassi Sanyang Statistician General- GBOS Nfansu Saidykhan Project Coordinator - PCU MOFEA Awa John Manager - Finance & Admin - PCU MOFEA Alfusainey Jabbi Accountant - PCU MOFEA Jlsaina Fa i Monitoring & Evaluation Officer - PCU MOFEA Jainaba Faal Procurement Officer - PCU MOFEA Bankers Central Bank of The Gambia 1 Ecowas Avenue Banjul, The Gambia Financial Auditor Augustus Prom Audit. Tax. Advisory Centenary Building, 3rd Floor 3 Kairaba Avenue Serrekunda, KSMD The Gambia. 2 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - ~ Project Financial Statements & Reports for the year ended 31 s' December 2019 Donors International Development Association (IDA) 1818 H Street, N.W Washington, D.C.20433 United States of America. Ministry of Finance and Economic Affairs Government of The Gambia (Counter-part Funding) The Quadrangle Banjul Republic of The Gambia West Africa. Registered Office The Quadrangle Banjul Republic of The Gambia West Africa. 3 FMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - Project Financial Statements & Reports for the year ended 31 st December 2019 11 Project Back round Theaobjective of the project is to increase the capacity of the Recipient in public resources managmentThe Project consists of the following: Part 1: Supor for WMIS Rollout Interfaces a tem Taing The provision of IFMIS hardware for: (i) the extension of the technical infrastructure to additional IFMIS sites with additional workstations and printers; and (ii) the expansion of the capacity of the existing data center and the disaster recovery sites with additional servers, The provision of IFMIS system and application software. I. The installation and configuration of the IFMIS network through the provision of equipment for the setting up of the local area network and the wide area network, as well as the establishment of system interfaces. 2. Management and the monitoring of the IFMIS installation configuration and implementation through the provision of goods, equipment and training. 3. Provision of the IFMIS training and certification for the core application team and core technical team, as well as training on the report development and end-user training. 4. Province of technical assistance for the transfer of IFMIS skills to the end users of the IFMIS system. 5. Implementation and operationalization of the new IFMIS modules and interfaces to expand its capabilities and scope. 6. Improvement of IFMIS information and communication technology infrastructure and data centers to support the IFMIS expansion. 7. Provision of advisory services and training on systems integration and change management to the relevant stakeholders. 8. Development and implementation of the ERMS and strengthening the institutional capacity of NRS. Part 2: New IFMIS Activities 1. The carrying out of business process review workshops and the implementation of a sensitization campaign aimed at explaining how the IFMIS will change the business process. 2. The provision of the necessary IFMIS licenses. 3. The provision of services for the validation of human resources and payroll records. Part 3: Co muication and Change Manaement The implementation of a sensitization and information program on IFMIS use, including through the carrying out of workshops and seminars. 4 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM -Project Financial Statements & Reports for the year ended 31 st December 2019 Part 4: Accounting and IT Capacity Buildin for Sustainability 1. Provision of overseas training for staff members of the Recipient in professional accounting and IT courses coordinated by DNT. 2. Provision of local training for at least 60 staff members of the Recipient enrolled in professional and IT courses 3. Capacity building of the DNT in accounting, financial management and IT, through the provision of library books and equipment. Part 5: Project Implementation Support Project coordination and management, including through the financing of Operating Cost, expenditures related to monitoring and evaluation, financial audits, training and communications. Part 6: Support to National Statistic Capacity guildin Carrying out of a program to strengthen the Recipient's national statistics capacity, including: 1. Provision of advisory services to relevant GBoS staff; 2. Scholarship for two GBoS staff to pursue statistics training abroad; (iii) 3. Carrying out a survey on data dissemination; 4. Provision of equipment and software to GBoS. Part 7: Support for the Preparation of an Enery National Study Carrying out a national energy strategy study and an assessment of NAWEC'S financial management system and related action plan. 5 I FMI S Additional Fi nancing Project - I DA G rant Ag reement N um ber H880-GM - ~ Project Financial Statements & Reports for the year ended 31W, Decem ber 2019 1.2 Audit Scope & Objectives A. Financial Audit The objective of the financial audit of the IFMIS Additional Financing Project Financial Statements (PFSs) is to enable the auditor to express a Professional opinion on the financial position of the Project and of the funds received and expenditure for the year ended 3o1 December, 2018. The audit will be carried out in accordance with International Standards on Auditing (ISAs) as promulgated by the International Federation of Accountants (IFAC) and the Donor's(IDA) Audit Guidelines and will include such tests and controls deemed necessary under the circumstances. The professional opinion will include specific references as to whether: a) All external funds have been used in accordance with the conditions of the financing agreements, with due attention to economy and efficiency and only for the purposes for which the financing was provided; b) Goods and services have been procured in accordance with the financing agreements; c) All necessary supporting documents, records and accounts have been kept in respect of all project ventures (including expenditures via statements of expenditures or (Special Accounts). Clear linkages should exist between the books of accounts and the interim and annual reports presented to the donor (IDA); d) Where Special accounts have been used, they have been maintained in accordance with the provisions of the grant agreements; and e) The Project Financial Statements have been prepared in accordance with IPSAS Cash Basis of Accounting and IDA Guidelines. Audit of the Statements of Expenditures (SOEs) In addition to the annual audit of the Financial Statements, the Statements of Expenditures (SOEs) used as the basis for the submission of withdrawal applications are to be audited in order to express a professional opinion as to whether: (a) The SOEs audited have been prepared in accordance with the provisions of the relevant financing agreement; b) All information and explanations necessary for the purposes of the audit have been obtained; and c) All supporting documents have been retained and the SOEs audited can be relied upon to support the related withdrawal applications. 6 IFMIS Additional Financing Project - IDA Grant Agreement Nurnber H880-GM Project Financial Statements & Reports for the year ended 31st December 2019 B. Project Financial Statements (PFS) The project financial statements should include: (a) Yearly statements of sources and application of funds, which should disclose separately World Bank's funds and other donors' funds and beneficiaries' funds (b) Yearly SOEs by withdrawal application and category of expenditures; (c) Reconciliation between the amounts shown as received by the project and those shown as being disbursed by WB as an annex; (d) Status of funds by category; (e) A statement of comparison between actual expenditures and budget estimates; (f) Notes accompanying the PFSs; cash balances. C. Quality Control and Documentation Procedures The auditor shall apply International Standards on Auditing (ISA 220), and therefore required to do the following: (a) Obtain relevant information to evaluate circumstances and relationships that create threats to independence; (b) Evaluate information on identified breaches which create threat to independence of the audit engagement; (c) Take appropriate action to eliminate such threats or reduce them to an acceptable level by applying safeguards; (d) Document conclusions on independence of the engagement. 7 IFIMIS Additional Financing Project- IDA Grant Agreement Number H880-GM Project Financial Statements & Reports for the year ended 31st December 2019 (e) Management Letter Report The auditor shall prepare a 'Management Letter Report to: (a) Give comments and observations on the accounting records, systems and controls that were examined during the course of the audit; (b) Identify specific deficiencies and areas of weakness in systems and controls that have come to our attention and make recommendations for their improvement; (c) Report on the degree of compliance to applicable National Laws& Regulations and each of the financial covenants of the Financing (Grant) agreements and give comments on internal and external matters affecting such compliance; (d) Communicate matters that have come to attention during the audit that might have a significant impact on the implementation of the project; (e) Bring to attention any other matters that the auditor considers pertinent; (f) Audit of the Special Accounts The auditor is required to audit the activities of the Special Accounts associated with the project. The auditor should apply such tests and controls as the auditors considers necessary under the circumstances. The auditor is required to express his opinion on whether: a) The receipts are properly accounted for and withdrawals were made for the purposes of the project in accordance with the financing agreements; b) The degree of compliance with the Bank's procedures and the balance of the Special Accounts at the yearend; c) The special account statement give a true and fair view of the activity for the year ended 31st December 2019, on the basis of cash deposits and withdrawals; and d) The operations and the use of the Special Account in accordance with financing agreements and the adequacy of internal controls for this type of disbursement mechanism. 8 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM Project Financial Statements & Reports for the year ended 31l December 2019 1.3 Summary of Audit Results Internal Controls We have assessed the overall internal control environment of IFMIS Additional Financing Project as Adequate. This was based on the outcome of tests of components of the project's control environment assessed as follows: - Control Consciousness - Adequate Segregation of Duties - Adequate Management & Supervision - Adequate Competence of Personnel -Adequate Protection ofFixed Assets -Adequate Accounting & Protection ofRecords - Adequate 9 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM Project Financial Statements & Reports for the year ended 31 s December 2019 AUDITOR REPORT ON THE CONSOLIDATED STATEMENT OF SOURCES & USES OF FUNDS 10 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM Project Financial Statements & Reports for the year ended 31V December 2019 AUGUSTUS PROM AUDIT.TAX.ADVISORY. 3 Kairaba Avenue -,P0 Box 587 The Ganbin - Telephone (220) 4378146/ 4392376, /4378147 - nx (220) 4378148 E-Mail a dndnlZ2augnstuspro,nccm vwupusrogn 2. Auditor's Report on the Consolidated Statement of Sources and Uses of Funds Auditor's Opinion We have audited the Statement of Sources and Uses of Funds of the IFMIS Additional Financing Project for the year then ended, and notes to the Financial Statements including Accounting Policies applicable to the Project. In our opinion, all external funds have been used in accordance with the conditions of the Grant Agreements (Grant No. H880 GM), goods and services have been procured in accordance with the Grant Agreements. In our opinion, proper books of accounts have been kept with adequate internal controls. The Statement of Sources & Uses of Funds give a true and fair view of the financial position of the IFMIS additional Financing Project as at 31 t December 2019, prepared in accordance with Donor (IDA) guidelines and on IPSAS Cash basis of accounting. Basis of Opinion We conducted our audit in accordance with International Standard on Auditing (ISAs). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the financial Statements section of our report. We are independence of the Company in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants (IESBA Code) together with the ethical requirements that are relevant to our audit of the financial statements in The Gambia and we have fulfilled our other responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 11 IFMIS Additional Financing Project- IDA Grant Agreement Number H880-GM Project Financial Statements & Reports for the year ended 31 December 2019 Responsibilities of Management and those charged with governance for the Financial Statements Management is responsible for the preparation of financial statements that give a true and fair view in accordance with IPSAS Cash Basis Accounting, and in the manner required by the Project Agreement 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 Project's ability to continue as a going concern, disclosing, as applicable, matters related to going concern operations, or have no realistic alternative but to do so. Those charged with governance are responsible for overseeing the Projects' financial reporting process. Auditors Responsibilities for the Audit of Financial Statements Our 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 auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatement 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. 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 risk 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, intention omissions, misrepresentations, or the override of internal control. * Obtain an understanding of internal control relevant to the audit in order to design procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Institute'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 basic on the audit evidence obtained, whether a material uncertainty exists relating to events or conditions that may cast significant doubt on the Institute's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the 12 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM -~ Project Financial Statements & Reports for the year ended 313' December 2019 audit evidence obtained up to the date of our auditor's report *'However, future events or conditions may cause the Institute 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 Institute's financial statements represent 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 con We also provide those charged with governance with a statement that we have complied with relevant ethical requirement 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. From the matters communicated with those charged with governance, we determine those matters that were of most significant in the audit of the financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. The Engagement Partner on the audit resulting in this independent auditor's report is Mr Augustus F. Prom. AUGUSTUS PROM AUDIT. TAX. 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The project adopted the following accounting policies which have been consistently applied for items that are considered: a) Accounting Convention The financial statements have been prepared under the historical cost on cash basis accounting, Funds are being recognized as resources in the period in which they are received. Expenditures are also recognized upon disbursements. b) Cash Basis of Accounting The cash basis of accounting recognized on the receipt of cash or cash equivalent and expenditure recognized on the disbursement of cash or cash equivalent. C) Non- Current Assets (Fixed Assets) Fixed Asset investments and all other capital items are treated as operating expenditure in the Project Financial statements. d) Expenditure This represents all expenditure actually incurred through the bank accounts and direct payments made by the Bank on behalf of the Project. e) Foreign Currency Transactions Transactions in the Special Accounts are maintained in the Central Bank of The Gambia in US Dollars are translated into Gambian Dalasis at the rate of exchange ruling at the date of transaction. The bank balances of the Special Accounts in USD is- converted to GMD at the yearend closing rate of the dollar as at 3 1" December 2019 to ensure that the closing bank balance in dalasis reported reflects the dollar market rate at year end which leads to an exchange gain or loss as at year end this is because at the year end, closing balances of monetary items are translated at balance sheet date and non monetary items are translated at the historic rate. The same year end translation policy of USD to GMD, applies to year end conversion of bank balances from GMD to USD. The Closing rate as at 31" Dec 2019 is 1USD to GMD51.22. 16 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - Project Financial Statements & Reports for the year ended 31St December 2019 ) Budget The budget is developed on the same accounting basis (cash basis), same classification 17 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - Project Financial Statements & Reports for the year ended 31$1 December 2019 AUDITOR REPORT ON THE USD SPECIAL ACCOUNT STATEMENT 18 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - Project Financial Statements & Reports for the year ended 31 - December 2019 AUGUSTUS PROATV[% AUYDIT-TAX-ADVISORY 3 Rarab Avnue-DOfla 58 Th Gabia- Tlepoi2 (20) 378146 432376 / 4376147 -Fa 20 314 4. Audr's.R ort on the USD SpecialAccount - IDA 4.1 To Members of the Project Steeing i Government of The Gambia and IDA We have audited the statements of the Special Accounts of the IFMIS project for the year ended 3 1 December 2019 set out on page 20 (Expenditure in Component Basis) and page 20 (Expenditure in Category Basis), established under the provisions of the IDA Grant Number 1H880-GM, Our audit of the special account was carried out in accordance with International Standards on Auditing (ISA) and IDA guidelines and accordingly included such review of systems of internal controls, tests of the accounting records and supporting documentation, verification of account balances and such other audit procedures that we considered necessary under the circumstances. The accompanying Special Account Statement was prepared on the basis of cash deposits and withdrawals for the purpose of complying with the above mentioned grant agreement. In our opinion, the receipts are properly accounted for and the withdrawals were made for the purposes of the project in accordance with the Financing Agreement. The Special Account gives a true and fair view of the activities for the year ended 311 December 2019, on the basis of cash deposits and withdrawals, 43 ........ ... Augustus Prom Audit.Tax.Advisory Registered Auditors D ate: ............................. 2020 19 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - Project Financial Statements & Reports for the year ended 31ist December 2019 4.2 ID S pcilAcut Statements by Coninonent For the year ended 31s' December 2019 Central Bank of The Gambia Account No: 1103001912 Year ended Year ended 31st Dec 2019 31st Dec 2018 GMD USD GMD USD Opening Balance 11,632,749 236,054 12,870,636 270,278 Receipts IDA Replenishments (See Page 27) 54,504,789 1,077,031 10,863,559 229,722 Total Funds Available 66,137,538 1,313,085 23,734,195 500,000 Expenditures Comp I-Support for IFMIS Rollout 52,212,031 1,033,148 9,554,560 202,684 Comp 5- Project Implementation 285,402 5,707 2,884,314 59,876 Comp 6-Support to National Statistics - - 65,814 1,386 Total Expenditures 52,497,434 1,038,856 12,504,688 263,946 Receipts over expenditures 13,640,104 274,229 11,229,507 236,054 Exchange Gain 405,921 - 403,242 - Closing Cash Balance as at 31st Dec. 2019 14,046,025 274,229 11,632,749 236,054 20 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - Project Financial Statements & Reports for the Year ended 315t December 2019 4.3 IDA IUSD Spec.Il Acon Sttmet_b_atgr For the year ended 31s' December 2019 Central Bank of The Gambia Account No: 1103001912 Year ended Year ended 31st Dec 2019 31st Dec 2018 GMD USD GMD USD Opening Balance 11,632,749 236,054 12,870,636 270,278 Receipts IDA Replenishments (See Page 27) 54,504,789 1,077,031 10,863,559 229,722 Tiotal Funds Available 66,137,538 1,313,085 23,734,195 500,000 Expenditures Category 1- Consulting Services 32,508,531 645,308 12,157,261 256,735 Category 2 -Goods & Non Consulting Services 19,616,100 386,055 265,474 5,507 Category 3 - Operating Cost 372,802 7,492 81,953 1,704 Total Expenditures 52,497,434 1,038,856 12,504,688 263,946 Receipts over expenditure 13,640,104 274,229 11,229,507 236,054 Exchange Gain 405,921 - 403,242 - Closing cash Balance as at 31st Dec. 2019 14,046,025 274,229 11,632,749 236,054 21 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM Project Financial Statements & Reports for the year ended 31,5t December 2019 AUDITOR REPORT ON THE GLF SPECIAL ACCOUNT STATEMENT 22 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - Project Financial Statements & Reports for the year ended 31isi December 2019 AUGUSTUS PROM AUDIT. TAX.ADVISORY 3 Kairaba A~nu. -P O, 587, 0h aba-Tlpoe20) 4378146,/43923 76, 4378147 - Fax 220) 4378148 5. Auditors Report on the GLF Account Statements 5.1 To Members of the Project Steerinp Committee- Government of The Gambia and IDA We have audited the GLF statements of the IFMIS project for the year ended 31' December 2019 set out on page 24 (Expenditure by Component) and page 25 (Expenditure by Category), established under the provisions of the IDA Grant Agreement H880-GM. Our audit of the special account was carried out in accordance with International Standards on Auditing (ISA) and IDA guidelines and accordingly included such review of systems of internal controls, tests of the accounting records and supporting documentation, verification of account balances and such other audit procedures that we considered necessary under the circumstances. The accompanying Special Account Statement was prepared on the basis of cash deposits and withdrawals for the purpose of complying with the above mentioned grant agreement. In our opinion, the receipts are properly accounted for and the withdrawals were made for the purposes of the project in accordance with the Financing Agreement. The Special Account gives a true and fair view of the activities for the year ended 311 December 2019, on the basis of cash deposits and withdrawals. Augustus Prom Audit.Tax.Advisory Registered Auditors k)I D ate: . ....................... 23 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - ~ Project Financial Statements & Reports for the year ended 3W1- December 2019 5.2 LE Secia Acontatement by- Coponent For the year ended 3p' December 2019 Central Bank of The Gambia Account No: 1101004304 Year ended Year ended 31st Dec 2019 31st Dec 2018 GMD USD GMD USD Opening Balance 1,173,860 23,820 48,240 1,013 Receipts Subvention from The Gambia Gov. (Page 40) 15,180,040 301,570 5,173,240 107,697 Other Receipt - - Total Funds Available 16,353,900 325,390 5,221,480 108,710 Expenditures Component 5 - Project Implementation 12,916,634 256,158 4,047,620 84,068 Total Expenditures 12,916,634 256,158 4,047,620 84,068 Receipts over expenditures 3,437,266 69,232 1,173,860 24,642 Translation Difference - (2,124) - (822) Closing cash Balance as at 31st Dec. 2019 3,437,266 67,108 1,173,860 23,820 24 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM - Project Financial Statements & Reports for the year ended 31 st December 2019 5.3 GLF Special Account Statement by Category For the year ended 3s" December 2019 Central Bank of The Gambia Account No: 1101004304 Year ended Year ended 31st Dec 2019 31st Dec 2018 GMD USD GMD USD Opening Balance 1,173,860 23,820 48,240 1,013 Receipts Subvention from The Gambia Gov. (Page 40) 15,180,040 301,570 5,173,240 107,697 Other Receipt Total Funds Available 16,353,900 325,390 5,221,480 108,710 Expenditures Operating Costs 2,664,956 53,248 2,788,406 57,770 Goods and Non -Consulting Service Including Audit 264,226 5,176 - - Operating Costs 9,987,452 197,734 1,259,214 26,298 Total Expenditures 12,916,634 256,158 4,047,620 84,068 Receipts over expenditures 3,437,266 69,232 1,173,860 24,642 Translation Difference - (2,124) - (822) Closing cash Balance as at 31st Dec. 2019 3,437,266 67,108 1,173,860 23,820 25 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM -~ Project Financial Statements & Reports for the year ended 31st December 2019 Appendices to the Project Financial Statements 26 IFMIS Additional Financing Project - IDA Grant Agreement Number H880-GM -Project Financial Statements & Reports for the yea r ended 31 st December 20 19 Appendices Appendix A List of Ineligible project expenses Appendix B Budget Variance Report Appendix C Withdrawal Applications & Reconciliations Appendix D Gambia Government Subvention Received Appendix E Project Fixed Assets 27 IFMIS Additional Financing Project - IDA Grant Agreement Number H 880-GM - Project Financial Statements & Reports for the year ended 31 st December 2019 Appendix A - List Of In eligible Expenditure Year ended Year ended 31st Dec 2019 31st Dec 2018 GMD USD Ineligible expenditure Nil Nil 28 .� � � � � �% � °�г° `� � � � _` ь7 "-� м а� � � :: ._ ,� � � ° v�rs�, W гг' `'�' �г� � �? �. � � � � �-- ++ ° � с � Q, � о � � s� v � � ш � � _ ❑ •� N Q�% � T�^ � �1 � �T� �. � V1 � � ш � � гд � � � � � � � � � � о ri г�i � � о � й � ®` .� а► v с� g � �а � ':��. ~ � � � ч.�, � +� � ч `�, w � v *'' о�., `�: a�s °� sat "'' р Сг� s, +� � � � � � .� � �U �� � 1.� U3 � � �••� W U] � � � � GГ1 °� � i� г!� г� ��'Л ++ ,�г � � 1 +� � �, 1 ' � b 1 �, .w С'� � ~ О� С� tiD жi .r [`- � С - Ф � +� � Са 'w' ,ь.+ L� � �+ Е � r пг р� у си �°' ��� у� "" � � �С7, ,, � � �.�, С7 �" � � � �� �� �� �� _ � � � ��� � �� �W �`а � �°� "�� � �° �ar � � � � си __ � � � � � _ , � й aI � � ' � д , � � � � � � � � � ._.. ,� �. �гr �t ,а� V � � .� � с� с '� cw" � � а � � � � � � т _.. s� д ' � ё � �' � � � � •� � , г�r � ;.. � -� � � � � � � у � о ' а +ьг/ 'р � г� 8 ч� n е-" � � ^� v с � :� ' � � �" � � __ � � � � � � � � � � � � .� � _, � � � � � _ ..� � � � ° � о � a�i � � �у � с� Q м _ ;.л 4�1 и � � � � � � G `� �' q�j '� `LY П} �' ^ � Са � � � � � � г � � � � � � � � � � 7�+ � ', [� ��.. � _., � � е� а� tr� -,�+ '� � � �у 4Q VJ -. ... _ •� � ,� й� А'" Ct � 4Л Q � � '�"' .�уΡ1в.в.�I� гву� Ьы. у �Е. �вв. !�i � '�i N С� CL г i, ;G-гl С� ,� ,.q ,�, -� ° 4ZS � '� о о хь � в�ь � и • "� ++ т`а й� � 'q''+ � � � � •� '�н �м U � � �, � � � - � с"-`1# ,� G�, �, � : :' С �" .S� , �" .'��' � •� � � i� � � � � � � � �v � � � � � � � � � R � � � 1 � � Q, � � � тз � � , а +� с �t е� � � � `.� ! � � � � � - гл � „ , � � � с. .�, т � � [� д ' Е� �:, � и� us и и�rr мт ич w иа гсь м м сч м и +п еп +n цъ и и en � us r г гп нs ar ss и в о о о о v о �у е� гл ' м as ai ол аь ai w а� ел ar с� оа вл о� т м м г. n. n еч м ers и и vs гr� и ur �л и rn w е� na �д гss т гл цs" цs цл цi цi м м' м" н" ni �м"' г` .--- (V Г4 N:V tV SV LY � г r с�i в е� о о� в� о�°о е°s �©� . ® ед С°с G` а а Cs °рΡ r,y °®$ с®рΡ' е7 ® С7 v О К7 G 4 4 О С О С3 i7 G С7 О t3 .. .. 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С� о ' � С7 L`7 о с� а � j� � f�l C�L t�L У 1=С Q � � � � Ш ц7W 1�J Ш Ш� � � и гп v�¢аv�v�ьu�r �- � � а�i � �ш � � г ш g � � � 4 ' � ,, в ' [`ч ы т � ~- авi ш � С7 L7 t�1. � 4 � ¢ ¢ � � � Ш �� Q��r а и��� �- �, + п°r с�°п � � � � � т �°' оэ af rn вs rn rn � � {ii О Ф с7 С7 О G С � о � � С� © �.������ . � г r � г +r� ® "' С7 [7 G7 О СУ О IFMIS Additional Financing Project Project Financial Statements & Reports for the year ended 31 st December 2019 Appendix E - Gambia Government Subvention Received Quarter Details Amount (GIVID) Amount (USD) V Quarter Subvention 1,194,560 24,122 Others 90,000 1,814 2n 4 Quarter Subvention 1,194,560 24,011 3fdQuarter Subvention 1,194,560 23,829 Relocation 2,000,000 39,896 Epicor 10 4,155,900 82,902 4 th Quarter Subvention 1,194,560 23,441 Epicor 10 4,155,900 81,552 Total 15,180,040 301,570 32