―긔 AUDITED FINANCIAL STATEMENTS OF THE CUNHA CANAL REHABILTATION PROJECT GRIF GRANT NO TOFA 1943 FORTHE PERIOD IJANUARY 2019TO 30 JUNE 2019 TABLE OF CONTENTS 13AGE I TRANSMITTAL LETTLIZ I 2 AUDITOR'S 013INION ON THE STATEMENT OF CUMULATIVE INVES'l MENT 2 STATEMENT OF SO[ WES AND USFS OF FUNDS AND ASSET RLGISTER 3 AUDITED STATEMENT OF Cti'MIJI-A'f']V -'INVI",S'I'MEN-f' 4 STATEMENTOF SOURCES AND USES OF FUNDS AND ASSETREGISTER 4 AUDITOR'S OPINION ON TI 11: ELIGIBILITY Of: EXPENDITURE 14 5 AUDITOR'S OPINION ONTI-11 DFSGINATED ACCOUNTRECONCILIATION 16 6 AUDITED DESIGNATED ACCOUNT RECONCILIATION STATEMENT 16 7 AUDITOR'S OPINION ON COMPLIANCE WITHTHF FINANCING A(;REEMI7N'I' 19 AND THE RELFVANT LAWS AND REGULATION 8 COMPLIANCE WITHTHE FINANCING AGREEMFNT 9 MANAGEMENTLETTER 24 204/IDA: 20/1/019 20 November 2019 Ms. Delma Nedd Permanent Secretary Ministry of Agriculture Regent and Vlissengen Roads Georgetown. Dear Ms. Nedd, RE: AUDIT Ol THE FINANCIAI STATEMENTS 0F THEI CUNHA CANAL REHIABILITATION PROJECT GRIF GRANT N. TFOA 1943 FOR TIE PERIOD I JUNE 2019 TO 30 JUE 2019 I forward herewith two (2) copies of the audited financial statements for the above-mentioned Projeet for the period I January 2019 to 30 June 2019, together with the Report of the Audilor General and management letter thereon. Should you need any clarification or explanation. please do not hesitate to let me know. With kind regards. Yours sincerely. Ms. Dawn Pearson Audit Manager for Auditor General 205/IDA: 20.1/ 2019 20 Novemhe 2019 MS. Honlgyu1 Yanlg ITsk en 1Leader 1 luian I)evelopment Department Lalin America and Ciribbean Regional Office World Bank 1818 H1 Street N.W Washington D.C 20433 USA. Dear Ms. Yang, RI,: AUDI1 t E IfINANCI _S'_AlLMj I OFJ1 111iCN1\ A NAL- REA L0lBIIT Ai ON 1 RO.J CFf (3 R G k ANT & . TF:OA 1913 FOR TlEl PIRIO 1 j.AU A RY 0 9 T) 30 JU NE1 201 t) I Iorward herewiti one (1) copy ol he audited finiaj statements for ti above-mentioncd Project for the period 1 Janulary 2019 o 30 June 20 t ogetlher with Ilie Report oft he Auditor General and management letter thercon. ähwud y=" nood nny omnrGemåt,onor evplandtöo pämnm 0, not hektaue to l nr know With kind regardls. Yours sincerely. Ms. Dawn Pearson Audit Manager ffor Auditor Generat S \I)I()R ( \\ i - "I -( l \lAl \ 1\l :y l (]j_\ i No pjj_\ \l94 RILD 1 J\A\J Ng 1 10A 9 ud ied the financial sitaiements of the C1-unha Canal Rehablita ion Proeeý.t w hich cm oent or imunlative hwiNestments as ol 30 June: 20P9 the Satement of fluel ssmuce u 1 and tie Asse Register for the pcim ended 30 Jiune 20 l k. and notcs lo Ihe 1niiiia Neien. inciuding a suinmary of signient a uitinug polici-. n i ni. the accompanying I inancial Staitemcints thce Itmha Canal Rchahilitation Projcc1 r a svåd 1 anuary 2019 to 30 Junc 2019 lae been prepared in all materia- respce iv a I wih the financial reporting requinirmets o Scectien 2:07 f the SIanrd ,1 1 R Grant N, -I M1943 dated 17 Februar 216 beceen flhe Cooper e mpb 1 ma al the Intenational De elopnit \ssoiaion. eJ nu audt in aco meance v\Sh lin1nternaiieiinal Standards o udeing c ISA l ir \u,-1 1s Iie i n,lnäm dellauneln of AcuntanS Ilie Iicinanenal miandards 1l S :1C kul Incitrutens (1SSAIS and the \udit \i2014 Nl iocpnthliice under thosc m. d , rna uher deseribd in the \tdito Responshdinhiltles for the XAudit ef the1 nanc aL u icill 1la eper 1 am independent o the Plject in accerincc \\id tbe ciffical Omtl wc rekLant to m audit of the financial statelents in (Cyan, and I haNc iny (Wi elhi,a fiinsihdities in aceordancc \ h tx i hese IebuClnents i h e e that the JUd i iJ ci i im b lked is stifliuem and appropriate to prov ide a hasi t`o mn1Y opinon. lc nill ' responsi ble lor the prepaation and lair presentatio n fi he tinaineil strienininin ith the requirenierns established in Section 2:07 of ilie Siauard ( ondition,ni c i-O ni N 1 Hå l 943 and for such inernal control as manacemeni detcminls ie necc i -te ieparatrion of statemnents that are free rom material mis"saitemlcn'lt. \iether luc 11 ,1 vor. i fhlIiliti ie 1/t' h dil f tC / M 1 inil Sa tmm ii, 10 j= 0 iu, ohLn reasonable assuncc about kshether the finxalv statiiemen aN d ~ swe SwiwneriJ imstaent. whethei duc te iuJ n J errorr drd to I an m,_hc er[ t11i[ W anal opi mon. 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Purchase � А$setM ... .лssrCfict аrь Dккк cionaf,asaгfs tiег{яiп .. .. t.oeнtiou Amaunt Сопдitгпп_и_fдsset I �t�:�S 1t1i�•1IWя3��i� , ь.` ,.:�.1ii , ,. � .1��.�_ �г tc , ь� �wu� €�г�кi t i•,;,, i п г,!з г Э Эt iг�at. � i�И, - �� к,� .г.,,.,�, ---t _ :хж 'о 1К и1у � yS131 СС�КЭ -F ,i 1 1 J 1.l7 k t) �' _ �и� �,� �� Э _-_.. .I\ft.�,1 �..,.. . � � 1., � ' � �, - , . ,RПп _ .. �... ��Э �, с,С:)l ГСК! 41 п1''_.. 1 rгEl U И г�[ 1Pt1E *. 1' '� , � ♦I� q.. ... , I ..... . ,� . � .П �. I ::' :� е J . ._. ._._� Эi .� ?7 �г1`� йSU1[i;�1';IЭ.Эi i1kLJFn1ЭЭ'V7i�A �. V1 ,,�,а1 � п. I ..�; . .. .. __� . , _ � Э ���� � 1 I1 П И� 1:1г� '4f 'UI`Э i 1\31i 1�lkЕЭ14 111. �Э1�1I11!)( ,1��{�..4- .„Э_,1� \ ЭУЕ!.-l..,ti.. �,: �:t 1�111. 11 У.з�Э..tи,1 I � I . __. . �� . . �(i1 41 у � ,.w. Г�.. - , �-_ - .. 4Э,ЬЬЬ.ЬК2� -� vк�.иАк�vн~ ,' , ` , , n�r�:: ' �' „ ' „, г �.. __ _Э ~'и��tiEГt.пкх�: �'r'%'!`� � 1 ����r� ,° `��! �.� - _ U.V�1F.г � „нин: GOVERNAIENT OF GUYANA MINISTRY OF AGRICULTURF, - ASDU CUNHA CANAL REHABILITATION PROJECT GRIF GRANTNo. TFOA1943 NOTESTO THE FINANCIAL STATE,-VIENT FOR THE PERIOD IJANUARYTO 30 JUNE 2019 1. Deset-iiption of the Project The C'unlia C'anal Reliýtbilitýitioii Proýjcct WCRP) iýan agvc,ý:ncnt betm-cen Ilie Kepuble of Guyana Jhe Rcc4ienl and the Guyana REDD Investnient kund (GRIF) and acimbimed by de lnternational Developinent Association (World Bank). The Granl a,,,,i-ceiiieiii massioned on 17 I_`ebruals 2016 mit the Pnjeo Iniplenientation stail date being 17 Fehmaj 2~ and ita linplernentalion end date ).ý 30 Julie 2019. flic iotal cost oftlic prejeet i-s a Grant of, 1-111.0c nlillion United Slates Dollars. (USD3,000.000) Tlic Recipient of Ilie funds under Ilie CCRP is Ilie årlhåstry of Jänancc. The Project is implernented hy the Näniustry of Agrieidinre. ikgrieidiure Sector I)c\-elopiiieiit Unit (ASDU'). The ()biccti\ e of die Pject t lo inerease the ol, the C111111a C,anal to drain Ilie Fast Denierara Mäter Conservancy- and local agricultural arcas in Ilie Rccipjcntýs tcvritorý. 'Ylie prcýjcet consists of Ilie J`ölloxving parts: Part A: Cunlia Canal kchabilitation 'W`orks (1) Reliabilitiiiiii<-) Ilie (:unha C`anal draina-c channel. re-routing ii alono its original aligninient. widening and c=nating it to reniove earth 61,1 and mreds tu alåNv for a sumiý,,rht Ilom, into Ilie Dernerara lZiN-er. (i) lýellabilitatili,,: Ilie slujec at Ilie outlet ofthe EMW to fi x Ilie gate ,nid Upgrade Ilie slujee [c i egliktik: NNIICI i eleases 11,0111 Ilie l-- 1) \ý U. and (iii) Ilie sluýice at Ilie outlet ofthe CInha Cknal at Ilie Dernerara Ri\er to control Ilie dischar-c of m-ater and prcý ent mater froni the Denierara River Sorn entering Ilie canal during high tideý (2) C'onstruc6ng a bådge on the East Bank Dernerara public roäd at Ilie interception point of the canal and the Ear Bank Denierara piitAie rond lo allom vehicular Uu111c lu IraNersc the area. Pýwt B: Re-settleiiieilt Coinpensating 13CL ffir Ilie relocation of its wssets, and for disruption oj' its operations during Ilie relocation period, as agorced in Ilie SettleiiieiitA,,ýi-ceiiiejit. Part C'> Prolect Manacement Strengthening the Recipient's Capacity to carry out Ilie Project, inildin in overall management. fnancmil maniagement, procurement, accounting, audits, project Coordination, nonitoring and reporting. supervision of wxorks. ionitoring equipnent for water Lows in the Badarina Creek. Cunha Canal and Sarah Johanna Canal, and drainatge of the Conservanev and the nearby agricultural areas. through the provision of goods, consulting services and Operating Costs. The Projeet Financing Plan consists of the following components: % of Expenditures Girant Anount to be Financed Cateory (uD lusif (1 Goods. \works. non- consulting services consultants services. 2430.000 1101 Training and \Workshops. and Operating Costs under the Project (2) Resettlement Expenses 570000 100% TOTAL AIOL NT 3,000,000 2. Basis of Preparation Tihe Financial Statements have been prepared in accordance with International Public Se~r ^ccuuiig stndards ( Ii'SASi with particular emphasis on Cash Basis Financial Reporting under the Cash Basis of Accounting \ hich recognizes transactions and events onlv when cash is received or paid by the Project. The Projects accounting records are maintained in both United States Dollars (USS) and Guvana Dollars (GS)f with USS being the presentation eurrency. Local Curency transactions during the year are translated at the Bank of Guvana e xchange rate on the date the funds are transferred to the local account. The average rate of exchange as at 30 June 2019 was 208.50 to USS1 .00 There was no foreign exchange gain or loss during the Gnancial year. 3. Available Cash Balances 3 112.20 18 30.06.2019 UsS Uss Bank of Guvana cCotInt No. 201689 - 329,1 W 7- Bank of Guvana Account No.016270042801 7 - 391710.88 137.79 Total 720,822.60 137.79 4. Designated Account (a) ln accordance witl the Disbtirsement letter the Designated Account xvas established to deposit advances xithdrawvn from the Grant to faellitate eligible expenditure. During the period under review advances made by World Bank to the Designated Account in the sum of US$612.186.57 tIrough 1 ithdrawal Application No. 8 (b) During the period under rex iexx, disbursements were made and documenteci after 30 June 2019 for a total amount of USS1.332.871.38 through Withdrawal ApplicatIon No. 9 5. Sources and Vse of Funds The Statement of Sources and Uses of Funds slows a detailed breakdown of funds received and expended for tie period under revie. 6. Key Management Personnel The ox erall responsibility for the iiplenientation of the prolect lios with the Permanent Secretary, coordinated by the I)irector. Project coord inator. Prolect ngineer and other kev management personnel from ile atcoUntin-ng. procuremIent and Administrative sections of ilie ASDU are used. During the period under review the m-loxinu staffin occurred • Project Coordinator hired for period 1 December 20 18 to 30 June 2019 * HR and Administrative Officer contract renewved for period 1 Januarv to 30 june _0 19 • Project Engincer hired for period 1 January to 30 June 2019 * Driver/ Office Assistant hired for period 15 June 2018 to 14 June 2019 * DriverOffice Assistant for the period 11 Februarv to 10 June 2019 • DriveriOffie Assistant hired for the period 1 January to 30 June 2019 Y Ri P)R I (l _I li. \l_)>li( R nfl \ \ _GRi1 (A__> I \PI Q)943) I U ll l \[llOi \ (\\-\kYR_2 \BlnI i \ i' h di the Requests Abr ReimbuhurNs nt of Expenditure subitted ior th h Cn I\e un inn Prnjct for the period I Jinary 2019 o 3) June 210. in iUppo r of red I i rmulifunder GRIF Grant l '0A 94 n nn , in. the ependitre subittld or r eimiiburscment w\ ere elii hle to b replindhe iro hi n oith Pr,ject. the lunds \were used for the purposes itended and thoee iernli in n d o i cdus used :n the preparaion of the Reques for Reimbrsemem of Ipendi i up n ti sport echti requslt. i L 21w led ng audi in accordance with [nieninktnn il Sndwsud nn \on d m02 \ . L i ý1dýluen t \Ie u malu- iii \(- ) h Iile iiln i uki W iMøns ( iSu\Is and the Audt \e ?li \SM rsponsiihui undei NJ > e thed i the \udiktiA Responsibihkks kiw the \td hl i bhe U im m izame su , o b repot. I am independent of the Pjet i m acordance \\ i e ih ie lI , ele mll\ fitoI n t il nilh k1 ifn niu Isiailuei nts inf (i U i i) atnd l 11,1\ c !11 ill c ni lilV ý lltes in a uicdan \Sh Ihew requni vcms. iI tAS c tAtt LM o kkn ni sLi!clienl tnd appopiate bi prov ide a basis for nm ilm I on. n emnt li respfnsible for Ihe Requelts for Reinibursemient o lpendeitre in ucodwve I .i reglimts\ estblis-hedi in the GRiF (rnt i lT \I43 and Kor sueh i rn tom a LInQemeLni dentijnes is ncecssar\ to Liallhie the preparatiofmntn> limt lir ic r ml hultaement. w\ hether due to frauid or errr. 14 , I? cx v iiliiii i(% li e A iit yf 11i Fina nciaiiS/ atements 1 is to obtain reasonabIe assurance about hether the Inancial statemems is a he ae län! miierial misstaememnt. mhether duc to h~d ur eirror. and to issue an auditor's reporthat 10 n0 op inion. Reasonable assurance is a high lesel of assuraiince hu is not a guvance ix an i iaccoidance ith ISAs and ISSAls will alwaX d etect a mCiCrCil i 0x ii sstatenenis can arise from lraud or error wad are considered ialvrial il imd dua or in the agrate, they cold reasonlably be e\pected to influence the econoin e I s lusr taken on the basis of these Vnancial statentims \s ä mi audit in ccordaince wh lIWA and ISKAM, I exrcie prolfshionui iudiemem si mia an pri ssionad skepticisi througumt the auL. I also ilentif% and assesn ihe isks ol mteria misstatenien of the nnrincial stateimens. Siter nue to ratid or erTor. deSi gn and perform audit procedures responsiv \e \ tllos ie 1i,1 sI hbtaiin udit e idence that is suceit and appropriate to pvnide a basis tär mio 0pinik i he risk of not detectinu a material misstaimen restingm- fron fraud is hi ler than for 0n1 resuting from error, as fraud rnay involve collusion. forgery, intentiona misons, isrepresentations. or the oxverride of iniernal conol • Aahin an understanding of internal contrul rele ant to the audit in order to deign audit procedures that are appropriate in the cihrustances but no Kr tile purposc 0' expvessing an opinion on the effectiveness of the Projeci iniernal conol J aliate ihe appropriateness of accountinng policies 1sed and the reasonahleness o ccntiting estiiates and related disclosures made b\ mainagement S ämnuate the overall presentation, structure and conient of tie lnancial statemens. inlding the disclosres and wlictiler the financial statements represent the uinderlyin transacions and ev ets in a manner that achi ees lfir presemitn. Iomnica.te with those chared with eoernancc reparding. among helicr maniers the planned P MI timnin of ilie aLldi and signiticaaii it indings. includinig any signimicant deceincics in niem control that I identify during my audi XI~~ KA il1 I \ l l " 1 lTI n3 l Ml I STIAC K(R "Pi \ 15 RLVOR L-1I 1 1, AHk~'j L C (ýember 10 s OR IER C iO >R-i [i CLA\~'YS I1_13IJUi\ kjl GiRIL_(GRANT T __ FO i11 LRO[- J-\-_\L SY 20i i(_0 tN921 h auited the D eignatLed ccumi Rcclitio Stati ~iQ1~1f dhcIr~cui\~o u HAd or the (unha (nal RehabiNiion Pro iec lad hhe perPd ei 2 \0 19 I ls Saemen and the accoit, are the risll erih It e de1neinuhhein n Statemen and thne Irnoct Accou irI li i leeis the auidd ht of inal Dceeopment Association, pr esens a r ,n,,:! iiaan rirs ae \ui&bine ft I indN r the period 1 JanurN 2o19 to X Jn 2 1 . i i X,ke! i Wc irnsasldons iimem ding the %anie pened. in accordance \\ill the nne pn- øLiiI nainei in thie 13acn!\greenieni. nuemmumhni mndidh on \ditin USAs) i,,wd h\ V nal I ederaljon of \cntmiAUs VIl \( he Intenlinal Standards A p n i \ LEi and the \LudA\t _,04. \Lder tho,,C ll der Ned in the \udie respnsihii the \i iiil ii l epon. I am independent of the Peket in a dnt nh h \W lt to ]\itfeienN n (Am anli and J hN c IEd Hi ii ivns iiblies i im cerdancc xx iti re niems l tii li iabe \ iXdenc a ntiined is sutheient and appropriale to pior xi d a ha r i \ opinio IL m 'nt i RL posibli! M eriw II Fim i ucn H vink i ivspn ible lr te pap n d iu r irlel n i he nnei mime h. e ki klk c x NilerL Lifuvi t sabli iihd ni tli(,f GR (;rn >~ r111,1\93 and bumQ,nc k ni, contrl as nmagemeni dermines iA necessar> to enable tlii l Lii 'v ce I rom'n material misstateme, whhr duetrd O Ri0 poimlit reasonahle ässurance akna mlicier the M M awenl 11,1 I 1 t ,'eijll tiisstitementi \n hether due tu On d d r 0 ~ anJ ul, niditor-s SIlipinion. Reasolla e asnuaice is i high le el n( Lhat In A!. mideJ in acemrdance ith M \s and iSI \01s iu l a i del e l naei i ml tAal s\ ý d+ \h- Mälatemnents can arise lom 61d or eiw and ie conådered nmö j' rv3 ari u in the aggregate, hex enuld peasonabol he expecie io iinflunence the 0e~. xer.inis taken on Ilie ba of hese f-nancia statemen, 1 äl lmadit in accordance iäh Is ,und SAls . I exerise fsiOpunal jkudemte I mI' in rftessinaLl skepicsm throulghout the audi. 1 als, : dsiy and assess the visks ofn aterial nissiaitement of the firncial stateieis. x heth-i due u fs ud or error design and pevrn audit procedures respnsive to those raiks. and Ctsu audit evidence that is stlicient and appropriate to prnä ide a has K f my opinion lie råk of not detecting a aterial misstaement resulting im Vraud is hig e ähn nl On2 resLiin,g, fromn error. as fraud nas involve colhusi re i iiitciktilil olissiom, m 'representatins. or Ilie ov erride of internal control * )i ni aiiudeirstanidöie nf intertiail coinl> eN alnt tu thie auidit in orje~r In äli~ adi" r edurlies that are appropriate in the evirumsiances. ut i not fr the puirPO se o e\pressn an opi-nion on the eftectiviieness ofthe Projcect' s internal Control l aluxe the appropriateness nf accounting policies used and Ilie reastnaNeness ' cnntmg esnates and related disclosures made bN ianameni.cit i luate the ox-erall presentation. strneture and enlcmem ol Ilie f lllicial \iL ll]Ctit n ti ng the diselosures. and xiether the 1inancial staLemnents represent Ilie under[ i rnIaeinns and e ens in a inanner that achie\ es lair presentatini =mun.ime w it thise charged x ith guvernane regarding. anong ther matters. the planned k d u imn o F the audt and signiticant atidit findings, including an slenificat deieienciec in än cmnl that l identfy during my audit. V~l 13[1 1 1 Gtl \NA 17' GOVERNMEF' ir XE k yg MNlISTRY 01 AGR4UL.TURI AGRI 1LTURC SEFOR DEX (jR N ELOPMFN I NIT k\1I l. ;N 1 4-1<\R l GR,,»RT N<). i om 443 DIGNATEDs ACCOLNT RIECOM1LIION FIi i FOR ITI PER1iOD i JANA ARY - 30j J\ 2119 «OL I ' jLmK. 201989 BAg (5H F. ;SAN TOTAI ADVA\CJD BYý WORI )NK (OR CRF1NANIER LESS: EIGlI V I EXPII NDITRE F0RI THE L M,RNI IAR fi \1)D 4: WNE 'I DU( UMJ -FI ) HN \!- IRI f)1H NNK MI I 1VI VI GI IlE NP ENEII RI IFOR THE PRIOR PERIOS,I I~NDE 1) DECE M'E R -UI31 D0( M NILT1I B) 2 VORif) HA\4 II\N 3 PRFSE"NT OU TSTAN)ING AMOL1 AD)\ \N(' I TO TH 1M Mi 4 -I I M330T9 .217 BALANE 0O SI DFS1GN \TED CO, NT PER B3ANK REOIN I IIo\ S '1iTAM1 NT A.S ' PI 1M - j \1 NI -01' 4 BALANCT OF PROJECI-iT ACC0UNT Pi R 3ANK R>EC ONI I- AIN STAMINI IS AT PERIOD EN\D \0 :N 41 PLUS: ELIGIB.LE EXPFNDITIRI FOR THi CRI YEARI DE0(1MI ENT AFTIR lHF PER4D EN) D JUI 'W4 fA L33A27 3 t PLUS TOTAL AMO NI WITHDRAkN AN) NOT Y IT ( I IMED REASON: 4 PLUS XMOLNTS (LAMIO IN PRVIO 1' PPIC TIO NS N] YET CREITED AT D O4 RANK s 1 TEMENTS IIPILTIN_O. WA - XX SU HTOTAI 1- PREIOSI APPLliCA TN NTT NITi CRF-lIll 8 LESS: ITERESTI: EARNE) Q TOTAL AD'ANCE: A(CO'NTokED FOR ( -NO 4 11R1-G NO 330 17 DWEEC - 9 , I1 EIXPLANATIONOFVAN YDIFFERE,\CE SHOWNI\ N l,11\ ~C uirge,Jer is /Delina Nedd C ef Tec nica Officer chief dchnical cr \lmistry ofLgtitr Permanent Secretary MIinjstry of Åg 'eiIue k isty0Agture ur Ninistrý øf AgricuØturc Mýinistry of Agriculture "" The accompanying notes form an integral part of these Financial Statements R9LL5759 1 r 9 ' 6 7l (57 1Å 1 )1 \ C 2019-4 0oebr20 1 t Ri`PORT I -11 ( j \l gl y i uppr 1 \ URPP (R AP IE) \ 94, UR iIIL PLR -A Ws 1 \\l.\' 1) lo -1ý_io\sNh_1<1 -D -j i Z I j,, \_ L_R Y 019 11 u1 [il edte [ii nil `,twmuts of the ( Innha Cnnad Reialhi k u ion ier m hIsch ewnipri se h n at ( umli of \e In\estments as of 30 June 111 9 the uemu o an e ',,c, In ad d the \sset Resster får the period ended 1 1,une 1 and nomes to Q l arneS skärnuntr. imcludhng a sulnintr of rgnitian ac"ounung polieie., dn the inha Canal Rehabilttion Proeel conplied with Arteles i to \ Ie G (inm . \ PWl943 and the relexant aws and regulations får the period 1 Janar 19 t 3< 1 . b ki> I audineuiu iLndard on \\ud\tiin il linuI ledelaitionl of ACeCo1n111unt l \( r. the Inteinaionui welie udmtnh \JPYN) and the Audit \et 2104 \y respon hjiies under- 0-, i Jirsihed i the Auditors Resp niib,ililies får the Audit u the lönankal vaOten,i I yssepott I am independent of the Pro,et in accordanec Nith tlie cl rk i nn x \uel an to m\ audi ofthe financil steienin Gya, and I haw nted ny whei 21hon, i h i Il ietis in acordane with ihese requ irenien ts. I hel ic\ c that the tid it cx ileric I ha\ Vi-iined is sufieient and appropriate to pro ide a basis tor ny oiinon. H en Rc Vons j/ii jor ,h. /iiucuIy d2c/ 1:e non resmsible f1r coipliance n k ih Ilie iequnireinens ß\ r5 ieles 1l w N ok the GRl W, l 1( > \ 1 943 and for sueli internal control a,s nmana1menicct determin es W ecesr C11 0 ile 3reparauion of statenents flat aire rec Cron riaterial rissitem c n he r dus 19i 11 , 4J)Jihiliti p) 1/m huI <4/ ix 1 Finan;il wAmliä \ i to obtan weasonable assiraince about m hether the 1u1nan saten m a 1 e ide inmalaterIal i smtatement \\het heui c t lau or error-m to i mue an anir re ni il nv k al olinion Reasonable asstuance is a hizgh le\ el ofasunincc bmis IS a gmarantc ta ud11(1 aiued in accordance xith \s amd IS \ls äull al ik s detect matial m unnen, x\ licr. i[Íi et1§. Nlisstatemnents can arise Ironm raud or error and are con,idered midicial in häk o in the aggregate. they could reasonahly be expected to influene the ccoienic A s usels t e on Ihe has]s oftliesQ illanial s1itenente. \ r nn kä il in accordance w,ith ISAs and ISSA6. l exeruM proller"i2! Sidniiei ^n iai n prfesional skepicirn throuhout the audit. l also: I denti and assess the risks of mmerial istateinen of the financial statement -. m hether uc mraud or error, design and pernrm audt precedures responsi\ to Ibe råk ani Man audit evidencc that is sufficient aid appropriae te pro ide a basis Kori m y opinion. I ne sk of not detecting a nmaterial misstatenent resultin from fraud is higher than 10 frr resuhing rom error. as frald miay iln\Nolve colluLsion. ier inteniona oien 11ssim11 iiprpresentis. or the override of internal control SObain an understanding of internal control relex ant to the audit in oreir to derign audi piocedures tlhat are appropriate in the circimstances but not for the pu o0 expressming an opinion on the effecliveness of Ile Projects internal control S EvLuate the appnpriateness of accounting policies tised ani the reasonableness S' 1accounin estimates and related disc[osures made by management 1 aluate the )verall presentation. struture r and content of the finanicii al aements. imciadin the disclosires. and iether the financial stalemeits epresent the iiunl in rainsaclions and eveits in a imanner lhal achieves l'air presematin l inmuniicae "i those charged witlh govrianc iegarding. among other maiter. the idanned coe and tingm of the audit and signilcant audi1 findings lu in ti any siennillant decikencies i ö~W 1 ~ MUS i kitr4 in mäljä au.ds )11 REER.AL G ()R( d'lWNM MINISTRY OF AGRICUJAURE - ASDU CUNIA CANAL REIHABI1LITATION PROJECT GRIF GRANT No. TFOA1943 FOR TIlE PERIOD ENDING 30 JUNE 2019 Compliance witb FinanciiAreement Project Execution 2.01. Project Objectives and Description. Ihe ohic iv e of hle Proetl is to incrcxsc 0hk capac ity f the Cunha Canal to drain h lsj Deyricmery \ter Conserae idv ind , signu]iinl ireas in the Recipincts teiory. T he Pioject consists, ofthe Wolring parns: Part A: C'unha Canai keahilh union VYurks 1. Rehabilitating the Cuha (anal dinage channelt r-ruting it lon iV oii alignicit. widcningc and ca [anu n tf rmove cart fl and wNccds to dolu lu r straiglit tm into the Demcrra Rivr. 2. Rehalfläting (i) the sluice a the mitlet or thk E~ C to tVx the gatc ind upgridc the sluice to igulaie wrater releases iorm tih EDWC: aind (ii )the sluice at the outetlc f the Cnha C anal at the )cicrar Ri 1 control the dischare uf \water and preven watcr from] the Demlerara Rivr o entering the canal during hilh dde. 3. COnstruning a bride on the tc as Bank DciicrXm publb road at the interception point of the canal and the Est ank demiraor pube road to alkn \ehiiuar iffi to tr:erse the aia By the end of June 2019, activities under this component were completed, with the Bridge and two sluices approximately 100% completed and presently in Defects Liability period. Part : stdement Compensating JCT Cor the relocation of it iN al Kw tperalns during the rcloca6on period. as agreed in tle Settemnt Agfrecntl During the period under reve aN payment ju Bam Cå~ny, finbekl (MALj was paid in ftll, Ilie . linistry of Agricultåie and IT( has initiated 3 c process of thie tiie transfer smnie additional sur eys tlii had to be et anilut ud Ile titlie transfer is expected lo be completed. Part (C': PrjoLect Miianmciiiiit Stren in ti Rcipics capacity to carry ou tbch Projlct, including in ocri manuilagelenit. 1 uniaiici:il nuamenciuct. pcdm ccu prjcct monitoring and reporting supevision of w ork aenirornw- Cýipmcmno lo r I?ewm in Biadarima C reck. Cunha (Cnal and Sad Jkaum (nalk. and drainac eof ie ( onsenomm ial tle eryaiiuual aire M hwP trou df )pusting Cusis, Dulring the period uinder rs i"n an act livie, thai reft Ilhe aims and objectiy for f comnponent have been met in nccordance me i his period nor pla h mel ude: The procurenent of nater Uevel equipnent før the lldromtra Department, consulting senice or 1he 16mironnenta ( 'nsulant and consuhin blocial ( onsuDant w ere coml>letd. ile RZchzlhiHlaionid ut hyl) Jhiehs and i c>iltsuetoin i ofthe Publie lioad Hridge isa% akø 101% ">nijAel. 2.02. Project Execution Genernly Ile Recipien deckre us comiminent k) mc objcCe o uthlie Prject T ths kd lhe Rcipien shal carr oult Ilhe Prcl the MoA il iccordane \v ih the piniiun A: (a) Ailiele u1 t Illhe Standadd iL1iý. (b) the (tideliiHes on Prueenin and (mibating fraud sul C æRL on i IYSVU'. imeaced b\ IiRD) Lans and DA Ciedis amd Grnuu", dated October 15a 06 revised imanuma 201 1 (Anti-Cnorupnm Guidelies"): and (e) this Artilcl. The Cunha Canal Rehabilitation Project is in conplance with all standards and guidelines as listed. 2.03. Insutituonal and Other Arrangements. Tbe Reciient l mai tailn at al u during the inplementauon of the Project the AS)1 within its Minisøy of v\ijciur,-, with proessioinl stalf in adeqLate nuibers. wlu will be resptnsihle lAr adminw ol øverall planninn . coordati monloring ea dlltiuii. repornu and onnnn te aeinesC and the echnical fldnuary (i.e. procuremlent inancial uai lw environnenta n ad social safeguards complance of the Project includin c revie d progress inade toiacds aeving the IProjee Rs hjelve The Recipient declared its commitment to the objective of the Project and the activities of the Project were undertaken through the Ministry of Agriculture. The requirements of this Artiele were therefore met. 2d. U rroject onI IIlorinig, R'teportii ud ia~ nn fl i The Recipient shali monitor and evaluate the progress of the Projeet and prepare Project Reports in accordance with the proisions of Section 2.06 of the Standard Conditions and on the basis of indicators acceptable to the World Bank. Each Project Report shal cover the period of one calendar semester and shall be furnished to the World Bank not later thari one month after the end of the period covered b\ such report. Reports are submitted within the given time frames and distributed to all relevant stakeholiders. 2.05. Financial Management. ( Ate täee shaR cnsue thrt a inancial nanaernw system is mainamied in accordance wit" thie 1r"xisions Of Section 2.07 of the Stand ard Condifions.eprsfrtelqecae h The Recipient shall ensure that interin unaudited financial reports for the Project are prepared and furnished to the World Hank not later than one month after the end of each calendar quarter, covering Ile quarter, in form and substance satisflietory to the World (cThe Recipient slall ensure that inherin unaudited financial reports (IFRs) for the Project are prepared and fuirnished to Ilhe WVorld Bank as part of Ilhe Project Report not later than 45 days after the end of each calendar semester covering ithe calendar seesr ter in or and substance satisfactory to the World Bank 2^ tJProeurement,L Mr gooin samla und Cosujfing in requilred, for Ilie Project avil to Ke -inaed bivi illeý Cufl onr palilK o111 (s th xel å Grant shall he p~el ih ccordance mit the ruirenlnt ecä r räka! N) t åluidlelines: lt)cucnicjuiuj CA kkrka and ko-n (i' Sin nu ~ch uvnider !BI i and IDM Mlv, and (dms H, World Bank SmANers d i aunr 201 j x 203141 ("Pinetnie.i(inid j WA =: ancl tlie "GidelIines flecdi i nd p Consultants under Hlå) I ttan and IDÅ Medås and (int 1, Skl fint i dateOJ Jånnam\ 2,0 1 anktmc v edý,L 1[n1 .2014 ( Vo. nsuitant l 1 e > It was obse red that a111 financial ana eiiient of the C( R is reell toausvå p accordancc with the provision of scaion 207 of de matil rdonditkans ma 2 proeuremient of goods and svirOces are done ncordig l Pc Ilanks proenn guielines and standailrdsa . y contract orm Il igile p endjiuro be ie inuli or in sni (m proieeds ol the (dant %11 he intudel in the ornient Plan pepil i p o a approved by ffhe World Ban mn acndw 0i h umet aprcnein dhelikee p»m \\',i1 laik n acodance wohtli mer Consultant Gideline. prior 1 ie pnwunlcn ni-m n M u- sueli nd 1 During the period under review the acivities of the projeet eere carrkd ou! in accordancc with the guidelines established by World Bank. 3.03, Withdrawal Period, The elosing Dale reterred to in Section 3.06(e) o1 the Standard Conditions is June 30, 2019. During the period under review all expenditure were incurred on or hefore the Closing date Junc 30, 2019 has spefied in the Loan Agreement for which Withdrawal Appfication was processed and approved by the Bank.