t -11 / P J; : hI tr Yunnan Provincial Audit Office of the People's Republic of China Audit Report WI C C20191 63 YUNNAN AUDIT REPORT C 2019] NO.63 Project Name: Kunming Urban Rail Projcetl Integrated Financed by the World Bank - : 8073-CHA Loan No.: 8073-CHA Project Entity: Kunming Rail Transit Group Co., Ltd. AZ , : 2018 Accounting Year: 2018 目录 ColltelltS 一、审计师意见．...．……，.．…，..................................．·．··．·················，········……1 1 .Auditor,5 opinion.........................．·．··，······················，·····，···················……3 二、财务报表及财务报表附注．..................．……，...........．……，............．……5 11 .Financial Statements and Notes to the Financial Statemeflts.........．……5- （一）资金平衡表．.....................................．··································一5 1 .Balance Sheet..................................................．……，.............．········……5 （二）项目进度表（一）.................................．·····，·····················……7 11 .SuTnmary of Sources and Uses ofFunds by Project Component 1 .7 （三）项目进度表（二）....．……，....．……，.......................．……，.....．……9 111.Sulllmary of Sources and Uses ofFulids饰Project Component 119 （四）贷款协定执行情况表．．…，……，．…，...．……，.........................．……10 v.Statement of lmplementation of Loan Agreement...................．……10 （五）专用账户报表．..............．……，..........................．……，..........．……n vi .Special Account statement.........．……，.....．……，.......................．……n （六）财务报表附注，.．…，．…，,.....................．……，.．·········……，·······一13, v.Notes to the Financial Statements,............................................．……16 三、审计发现的问题及建议．...........................................................．……20 111.Audit Findings and Recom川endations................．……，........．……，.．……24 一、审计师意见 审计师意见 昆明轨道交通集团有限公司、云南省财政厅： 我们审计了世行贷款昆明市城市轨道交通项目2018年12月31日的 资金平衡表及截至该日同年度的项目进度表、贷款协定执行情况表和专用 账户报表等特定目的财务报表及财务报表附注（第6页至第19页）。 （一）项目执行单位及云南省财政厅对财务报表的责任。 簖制上述财务报表中的资金平衡表、项目进度表及贷款协定执行情况 表是昆明轨道交通集团有限公司（以下简称公司）的责任，编制专用账户 报表是云南省财政厅的责任，这种责任包括： 1．按照中国的会计准则、会计制度和本项目贷款协定的要求编制项目 财务报表，并佼其实现公允反映； 2．设计、执行和维护必要的内部控制，以使项目财务报表不存在由于 舞弊或错误而导致的重大错报。 （二）审计责任。 我们的责任是在执行审计工作的基础上对财务报表发表审计意见。我 们按照中国国家审计准则和国际审计准则执行了审计工作，上述准则要求 我们遵守审计职业要求，计划和执行审计工作以对项目财务报表是否不存 在重大错报获取合理保证。 为获取有关财务报表金额和披露信息的有关证据，我们实施了必要的 审计程序。我们运用职业判断选择审计程序，这些程序包括对由于舞弊或 错误导致的财务报表重大错报风险的评估。在进行风险评估时，为了设计 恰当的审计程序，我们考虑了与财务报表相关的内部控制，但目的并非对 内部控制的有效性发表意见。审计工作还包括评价所选用会计政策的恰当 性和作出会计估计的合理性，以及评价财务报表的总体列报。 一1一 我们相信，我们获取的审计证据是适当的、充分的，为发表审计意见 提供了基础。 （三）审计意见。 我们认为，第一段所列财务报表在所有重大方面按照中国的会计准 则、会计制度和本项目贷款协定的要求编制，公允反映了世行贷款昆明市 城市轨道交通项目2018年12月31日的财务状况及截至该日同年度的财 务收支、项目执行和专用账户收支情况。 （四）其他事项。 我们还审查了本期内由省财政厅报送给世界银行的第8037一cHA一 昆明市一159号至197号提款申请书及所附资料。我们认为，这些资料均 符合贷款协议的要求，可以作为申请提款的依据。 本审计师意见之后，共同构成审计报告的还有两项内容：财务报表及 财务报表附注和审计发现的问题及建议。 气 厂臀 寡 髻 又云南省审计厅 \2019年6月21日 气＿& 地址：中国云南昆明五华山北后楼 邮政簖码：650021 电话：0871一63632075 传真：0871一63632086 一2一 1. Auditor's Opinion Auditor's Opinion To Kunming Rail Transit Group Co.,Ltd and the Department of Finance of Yunnan Province: We have audited the special purpose financial statements (from page 6 to page 19) of Kunming Urban Rail Project financed by the World Bank, which comprise the Balance Sheet as of December 31, 2018, the Summary of Sources and Uses of Funds by Project Component, the Statement of Implementation of Loan Agreement and the Special Account Statement for the year then ended, and Notes to the Financial Statements. Project Entity and Yunnan Provincial Finance Department's Responsibility for the Financial Statements The preparation of the Balance Sheet, the Summary of Sources and Uses of Funds by Project Component and the Statement of Implementation of Loan Agreement is the responsibility of your entity, while the preparation of the Special Account Statement is the responsibility of Yunnan Provincial Finance Department, which includes: i. Preparing and fair presenting the accompanying financial statements in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement; ii. Designing, implementing and maintaining necessary internal control to ensure that the financial statements are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Governinent Auditing Standards of the People's Republic of China and International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entities' preparation and fair presentation of the financial - 3 - statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose. of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is appropriate and sufficient to provide a basis for our audit opinion. Opinion In our opinion, the financial statements identified in the first paragraph present fairly, in all material respects, financial position of Kunming Urban Rail Project financed by the World Bank as of December 31, 2018, its financial receipts and disbursements, the project implementation and the receipts and disbursements of special account for the year then ended in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement. Other Matter We also examined the withdrawal application forms No.8037-CHA-159 to No.8037-CHA-197 and the attached documents submitted to the World Bank during the period. In our opinion, these documents comply with the project loan agreement and can serve as basis for loan withdrawal. The audit report consists of the Auditor's opinion and two more parts hereinafter: Financial Statements and Note to the Financial Statements, Auditor Findings and Recommendations. Yunnan Provincial Audit Office of People's Republic of China June 21, 2019 Address: Wu Hua Shan, Kunming City, Yunnan Province, P.R. China Postcode: 650021 Tel.: 86-871-63632075 Fax: 86-871-63632086 The English translation is for the convenience of report users: Please take the Chinese audit report as the only official version. -4- 二、财务报表及财务报表附注 n .Financial Statements and Notes to the Financial Statements （一）资金平衡表 1 .Balance Sheet 资金平衡表 BALANCE SHEET 2018年12月31日 (As of December 31,20 18) 项目名称：世界银行贷款昆明市城市轨道交通项目（地铁3号线） project Name:Kunming Urban Rail Project(Metro Line3)Financed by thew沉ld Bank 簖报单位：昆明轨道交通集团有限公司货币单位：人民币元 习 一5一 Line Ian. !ý,%ncc ýpk Lij Beginning Balance Ending Btäýance _IL2 Beginning BalancC Ending Balance Sources ofFund Application 0 Fund No No. 7z, 10b41Y 7sut 74å -ä 16 2,514,758,995,36 1,719,357,476.49 Construction Expenditures te 43 Total Prepaid and Receava. be Offset - 21 Iýx tý jý 94 44 3,092,805,658.00 1,055,191,643.99 Including: World Bank Loan 17 Total Payalble Interest Recenable )_-, A t e o im, it iý 4 i world Bank Loan Comniärnent Fcc 18 Incl uding: World Bank Loan 45 Receivable Interest Payalale World Bank Loan Service. Fee 19 World Bank Loari Corintrutment 46 Reccivable Fee Payable - 10 World Bank Loan Service Fee 47 Markmable Securities Pavable 48 -247,030,598,93 -231,232,530,74 40, iý, 4 it 91 Other Payalales Total Fixed Asscts t, _ERCXKýwk L] ýt * f21 ffl fi 22 2 Apprýpnafion ofFkundu 49 Fixed Assets, Cost ýp 50 A w 23 Rctained Earnings L_5ý, Acctrinfl.lel Depecalon 24 Fixed Assetq, Net Fixed Xssets Pending. Disposal f;-, 4,_, sq Fl ý_7 iý iý 4ý5 K 26 Fi.\cd Assets Losses in Suspense i- rli FA A6, 27 17,644,776,298,72 15,865,243,642.92 Total Sourceý ofFund 51 17,644,776.298.72 15,865,243,642 C L F.,al f F.nd （二）项目进度表 11.Summary of Sources and Uses of Funds by Project Component 项目进度表（一） SUMMARY OF SOURCES AND USES OF FUNDS BY PROJECT COMPONENTI 本期截至20 18年12月31日 (For the period ended December 31,2018) 项目名称：世界银行贷款昆明市城市轨道交通项目（地铁3号线） Project Name:Kunming Urban Rai]Project(Metro Line3)Financed by the World Bank 簖报单位：昆明轨道交通集团有限公司货币单位：人民币元 Prepared by:Kunming Rail Transit Group Co&Ltd.Currency Unit:RMB YLlan 一爪 一／一 ＿爪、 ( V9 ) *#] *P A* iv. Special Account Statement 1 A SPECIAL ACCOUNT STATEMENT *,A AY 2018 * 12 A 31 L! (For the period ended December 31, 2018 3)j N,Mt:t ik ft k M ) A A (J+M 3- tU Depository Bank: CHINA CITIC BANK KUNMING BRANCH DONG FENG DONG ROAD BRANCH Project Name: Kunming Urban Rail Project K ' : 730211483200000283 Financed by the World Bank, Account No. : 730211483200000283 8037-CHA Loan No.8037-CHA Prepared by: Yunnan Provincial Finance Department Currency: USD A N, -: *V. t Ruk P t ,,t0pg 7 Part A-Account Activity for the Current Period Amount R Balance 30,502,169.22 ,,,innin Adl 36,709,36144 Total amount depoiitcd kv World Bank - - - I Civil work i 2 -R t- Fquiprilent 3 4 361709, 62 44 194,093.12 Total interest earned this period 7 Deduct Total Amount Withdrawn this Period 47,728,672,74 _: ZC A_.eirk 35,104,5D 79 2 ik t- Equipment- 11,903,594,23 3 P ik )k .4 il j 720,554.721 Consultariff smices and Traming - 2J' ,t'kX0,'h Interest Earnings transfers out 683,328.7 18,980,689-70 To_al amount recovered by World Bank 12,933-59 Ending Balan e To be continued) 10- B ## 3): *4A4K-P A mon BrA> #RJfr~$~ Amount Part B-Account Reconciliation 1. t,L4kiTtf9*4k&'-' O Amount Advanced by World Bank 30,000,000 00 Deduct: 2 ME4R4tEIRA Total Amount Recovered by World Bank 30,000,000.OD 3 MMttARPit4R&fl Outstanding Amount Advanced to the Special Account at the End of this Period Ending Balance of Special Account 12,933,59 Add. 5. 4 R i* VA Amount Claimed but not yet Credited at the End of this Period Application No Amount Withdrawn but not yet Claimed at the End of this Period 7.At kbt9t 5 V6P11) I- - - _ Cumulative Service Charges (If not Included in Item 5 or 6) Deduct: S. 4lMt/\ (l-WAlRP ) ) 12,933.59 Interest Earned (tf tncluded in Special Account) Total Advance to the Special Account Accounted for at the End of this Period - 11 - （五）财务报表附注 财务报表附注 1．项目概况 世行贷款昆明市城市轨道交通项目贷款号为8037一CHA。世行贷款昆 明币城市轨道交通项目为昆明主城内东西方向的轻轨骨干线。线路全长 19.16腼，共设车站17座，其中世行标段含梁家河站、大树营站、金马寺 站、太平村站、虹桥村站、石咀车辆段，项目总投资13,057,233,300.00 元。经《云南省发展和改革委员会关于昆明轨道交通3号线工程房屋土地 征迁资金概算调整的批复》（云发改铁建〔2014〕14号）批复，征地拆 迁费用调整增加1,864,000,000.00元，调整后的项目总投资 14,921,233,200.00元。世界银行贷款总额为300,000,000.00美元，折合人 民币2,049,000,000.00元。项目协议于2011年7月28日签订，2011年10 月19日生效，原定2016年11月30日前关账，昆明轨道交通集团公司 2015年3月向世行申请并经世行同意，关账时间延长至2018年6月30 日。项目于2017年8月29日开通试运营。 2．财务报表编制范围 本财务报表的簖制范围包括世行贷款昆明市城市轨道交通项目（以下 简称地铁3号线项目）的财务报表及省财政厅专用账户报表。 3．主要会计政策 3.1本项目财务报表按照财政部《世界银行贷款项目会计核算办法》 （财际字〔2000〕13号）的要求编制。 3.2会计核算年度采用公历年制，即公历每年1月1日至12月31日。 3.3本项目会计核算以“权责发生制”作为记账原则，采用借贷复式 记账法记账，以人民币为记账本位币。 一12- 3.4按照中国人民银行2018年12月28日汇率，即usD卜人民币 6 .8632元。 4．报表科目说明 4.1交付使用资产 2015年12月31日交付佼用资产余额为人民币14,074,546,076.29元。 4.2货币资金 2018年12月31日余额为人民币71,339,957.19元，包括国开行账户 余额人民币64,281,486.52元，光大银行账户余额人民币4,901,479.04元， 中信银行账户余额人民币2,068,168.45元，平安银行账户余额人民币 57.37元，专用账户余额人民币88,765.51元。 4.3预付及应收款 2015年12月31日余额为人民币1,719,357,476.49元，包括预付工程 款人民币250,376,974.31元，其中：工程款人民币120,130,853.07元，购货 款人民币35,665,495.46元，征地拆迁款人民币94,580,625.78元；其他应 收款人民币1,468,980,502.18元，其中：应收昆明轨道交通集团有限公司 其他款项及工程款人民币970,100,287.25元，应收昆明地铁建设管理有限 公司人民币245,085,641.67元，应收昆明地铁运营有限公司人民币 15,287,220.78元，利息支出人民币235,507,352.45元。 4.4项目资本与项目资本公积 2015年12月31日余额为人民币4,526,062,067.71元。 4.5项目借款 2015年 12月31日余额为人民币10,565,222,461.96元，其中：国外借 款（世行贷款）人民币l,747,101,250.25元，国内借款人民币 8,8 18,121,211.71元。 一13- 4.6应付款 20 18年12月31日余额为人民币l,055,191,643.99元。其中应付施工 单位工程款人民币636,925,545.19元，应付职工薪酬人民币1,300,154.20 元，其他应付款人民币416,965,914.6元。 4.7未交款 2015年12月31日余额为人民币一281,232,530.74元，主要为增值税进 项未抵扣税额人民币一281,835,748.63元，代扣代缴个人所得税人民币 603,2 17.89元。 5．专用账户使用情况 本项目专用账户设在中信银行昆明东风东路支行，账号为 730211483200000283，币种为粎元。专用账户首次存款30,000,000.00美元。 2015年年初余额30,502,169.22美元，年末余额为12,933.59美元。其中： 2018年支付贷款项目的土建部分工程款35,104,523.79美元，设备部分工 程款11,903,594.23粎元，咨询及培习｝}720,569.72美元，利息收入194,093.12 粎元，利息收入转出683,325.75粎元，世界银行收回结余资金15,980,689.70 粎元。 6．其他需要说明的事项 资金平衡表中，世行贷款期末数与期初数之差、项目进度表（一）中 相应本期发生额人民币124,977,486.02元与贷款协定执行情况表本年度提 款数人民币121,675,529.70元不一致，存在差异人民币3,301,956.32元， 是由于2018年归还世行贷款11,419,254.06美元（折人民币75,372,830.36 元），世行本年补充36,709,362.44粎元（折人民币251,943,696.30元）, 将提取后结余的周转金18,980,674.70美元（折人民币130,268,166.60元） 退回世行；以及历年汇兑损益造成。 资金平衡表中世行贷款期末数、项目进度表（一）国际复兴开发银行 IBRD累计发生额与贷款协定执行情况表中累计提款数不一致，是由于 2016年项目归还世行贷款本金3,085,609.45美元，2017年归还世行贷款 本金7,860,976.67粎元，2015年归还世行贷款本金11,419,284.06美元， 累计折合人民币153,501,440.22元造成的。 资金平衡表期末交付佼用资产金额人民币14,074,546,1 79.24元小于 一14- 期初在建工程金额人民币14,604,984,104.38元，差额为人民币 530,437,925.14元。主要原因为：1．集团公司将名下所投资建设的地铁3 号线项目部分标段土建工程资产（账面价值人民币1,201,946,700.00元） 划转至建管公司。2.2018年新增投资成本人民币671,508,774.86元。 一15- v. Notes to the Financial Statements Notes to the Financial Statements 1. Project overview The Loan No. of Kunming Urban Rail Project (Kunming metro Line 3 project) financed by the World Bank is 8037-CRA. Kunming metro Line 3, an artery connecting the west and the east of the city, consists of the construction of the 19.16 kilometers long subway line with 17 stations, of which Liangiiahe Station, Dashuying Station, Jin-masi Station, Taipingcun Station, Hongqiaocun Station, Shizui Depot and Fangmaqiao Depot are sections financed by the World Bank. The preliminary total project investment was RMB 13,057,233,300.00. As approved by The Approval of the Development and Reform Committee of Yunnan Province on Amendment of Budget of Land Acquisition and Relocation.for Kunming Metro Line 3 Project (Yun Fa Gai Tie Jian [2014] No. 14), the budget on land acquisition and relocation increased by RMBI,864,000,000.00 which had resulted in total project investment RM1314,921,233,200.00. The loan provided by the World Bank is USD 300,000,000.00 being equivalent to RMB2,049,000,000.00. The loan agreement was signed on July 28, 2011 and took effect on October 19 in the same year and expected to close before November 30, 2016 (Kunming Rail Transit Group in March 2015 applied to the World Bank for extension of closure of project account until June 30, 2018 and was approved ). The project was opened for trial operation on August 29, 2017. 1 2. Consolidation Scope of the Financial Statements Consolidation scope of the financial statements covers the financial statements of the Kunming Urban Rail Project financed by the World Bank, as well as the Special Account set in the Provincial Finance Department. 3. Accounting Policies 3.1 The Financial Statements of the project were prepared according to the requirements of Accounting Methods for the World Bank Financed Project. 3.2 In accounting practice, the Gregorian calendar year is adopted as the fiscal year from January I to December 3 1. 3.3 The accrual basis and the debit/credit double entry bookkeeping method -16- are adopted. RMB is used as the recording currency of bookkeeping. 3.4 The exchange rate adopted in the financial statements was the exchange rate on December 28, 2018 of the People's Bank of China, which is USDl= RMB6.8632. 4. Explanation of Subjects 4.1 Total Project expenditures By the end of December 31, 2018, the project expenditure of Construction in progress was RMB 14,074,546,076.29. 4.2 Cash and Bank By the end of December 31, 2018, the monetary fund balance was RMB71,339,987.19, including CDB Account funds of RMB64,281,486.52, China Everbright Bank account funds of RMB4,901,479.04, China citic Bank account funds of RMB2,068,168.45, RMB87.37 in China Ping'an Bank and Special Account to the project funds of RMB88,765.81. 4.3 Prepaid and Receivable The balance of prepayments and receivables balance on December 31, 2018 was RMB,719,357,476.49, including Prepaid project payment RMB 250,376,974.31 , of which construction payment RMB120,130,853.07, procurement payment RMB35,665,495.46, land acquisition and relocation payment RMB94,580,625.78; and the other receivables were RMB1,468,980,502.18 including other receivables from the company and construction costs of RMB 970,100,287.25, RMB 245,085,641.67 receivable from Kunming Metro Construction Management Co., Ltd., RMB 15,287,220.78 receivable from Kunming Metro Operation Co., Ltd interest RMB238,507,352.48. 4.4 Project Capital By the end of December 31, 2018, the capital funds of the project were RMB 4,526,062,067.71. 4.5 Project Loan The balance on December 31, 2018,was RMB10,565,222,461.96, including World Bank loans of RMB1,747,101,250.25, the domestic loans of RMB8,818,121,211.71. -17- 4.6 payable By the end of December 31, 2018, ending balance of Accounts Payable was RMB1,055,191,643.99, of which payables to contractors were RMB636,925,545.19, payables to employee benefits were 1,300,184.20,other payables were RMLB416,965,914.60. 4.7 Other Unpaid Expenses The ending balance on December 31, 2018 was RMIB-281,232,530.74, mainly including undeducted VAT input tax RMB-281,835,748.63 , withhold and remit personal income tax RMB603,217.89. 5. Special Account The Special Account of this project is set in Kunming Dongfeng East road Branch, CITIC Bank, with the account number of 730211483200000283, and USD as currency Unit. The first deposit funds was USD3O,000,000, the beginning balance of 2018 was USD30,502,169.22 and ending balance was USD12,933.59. In 2018, civil work cost was USD35,104,523.79, equipment was USD1,903,594.23, consulting and training was USD72O,554.72 interest gain USD194,093.12, carry-over interest USD683,328.75, and The World Bank recovered the balance of funds of USD 18,980,689.70. 6. Other Explanation for the Financial Statements In the project balance sheet, the difference between the ending balance of the World Bank loan and the beginning of the period, the corresponding amount of RMB 124,977,486.02 in the current schedule of the project schedule (1) is inconsistent with the withdrawal amount of RMB121,675,529.70 yuan in the current year. The discrepancy is RMB3,301,956.32 yuan caused by the fact that USDII,419,284.06 (being equal to RMIB78,372,83O.36 yuan) was returned to World Bank in 2018, and deposited amount by the World Bank was USD36,709,362.44 (converted to RMB251,943,696.30 yuan), ending balance of working funds was USDIS,980,674.70 (converted to RaM13O,268,166.60 yuan) that was returned to the World Bank, and losses and gains of exchange. The ending balance of the World Bank loan in the balance sheet, the project schedule (1) The cumulative amount of IBRD accumulating in the IBRD is inconsistent with the cumulative withdrawals in the loan agreement implementation table, due to the return of the World Bank loan principal of USD.3,085,609.45 in 2016. In 2017, the return of the World Bank loan -18- principal was USD7,860,976.67, and in 2018, the World Bank loan principal was USD11,419,284.06, which was accumulatively equivalent to RMIB 153,501,440.22. The balance of funds used at the end of the period was RMB 14,074,546,179.24, which was less than the amount of RMB 14,604,984,104.38, and the difference was RMB 530,437,925.14. The main reasons are as follows: 1. In order to use the assets of Metro Line 3 to carry out the financial leasing business, the group company transferred the civil engineering assets (book value of RMB 1,201,946,700.00) of the part of the Kunming Metro Line 3 invested and constructed by the company to the construction. Management company. 2. New investment cost of RMB 671,508,774.86 in 2018. - 19-