t V it qAA L i it Hubei Provincial Audit Office of the People's Republic of China Audit Report $ [ 2020 ] 51 HBAUDITREPORT C2020] NO.51 Project Name: Xiaogan Logistics Infrastructure Construction Project Financed by the World Bank 0 $ : 8613-CN Loan No.: 8613-CN Project Entity: Xiaogan Logistics Infrastructure Construction Project Office Acon : 2019 Accounting Year: 20 19 目录 Contents 一、审计师意见．．…，，二，,，二，,.,.,,,,.,.,.．…，……，............．……‘...................．……！ 1 .Auditor&5 Opilliol:.................................．……，，一，二，.．…，......................．……3 三、财务报表及财务报表附注．..................．一，,.,.,,，二，二，,.．…，.......．……‘…5 11 .Financial Statelnents and Notes to thel·inancial Statements........．……，5 （一）资金平衡表二，.,,,,,.．…，.,....．……，…，.....................．……＿_.．……，……5 1 .Balance Sheet.............．……，,，……，.,，二，.................................．……＿.,,5 （二）项目进度表……，..............................．一，,,,.,．…，,................．……7 11 .Summary of Sources and Uses offunds by Proje以Componellt，二7 （三一）贷款协定执行情况表．....．……，...．……，.......．……，,，二，,.．…，.,,...．……11 11 1 .Statelnent of hnplemcntation ofLoanAgre引11ent.,.,，……，...．……11 （四）专用账户报表，.....................................．……，二，.，…，,,．…，.....．……12 iV .Specia】Account Statement．…，，一，。，,.,...........................．……，…，12 （五）财务报表附注．……，...．……，........．……，…，.，二，......．……，...........．……14 v .Notes to the Financial statcment....．……，.,,.,,,.,....................．……17 三、审计发现的问题及建议．...........................．……＿，…，二，,．…，二，.......．……20 川，AuditFindings and Rccommendations…，,,,.,,,，二，.........................．……22 一、审计师意见 审计师意见 孝感市世界银行贷款物流基础设施项目管理办公室： 我们审计了世界银行贷款孝感物流基础设施项目2()l9年12月31 日的资金平衡表及截至气日司年度的项目进度表、贷款协定执行情况 表和专用账尸报表等特定目的财务报表及财务报表附汪〔第5页至第 19页）。 （一）项目执行单位及湖北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 情况表是你办的责任，簖制专用账户报表是湖北省则政厅的责任，这 种责任包括： 1．按照中国的会计准则、会计制度和本项目资款t办定的要求编 制项目财务报表，并使其实现公允反映； 2．设计、执行和维护必要的内邵控制，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墓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的规定执行了审计工 作，上述准则要求我们遵守审计职业要求，计戈l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邵控 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。慈体列报。 一壬－ 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万面按照中国的会计 准则、会计制度和本项目贷款协定的要求编气，公允反映了世界银行 贷款孝感物流基础设施建设项目20 19年12月31日鲜卜界状况及截 至该日同年一度的财务收支、项目执行和专用账户收支情瓦 〔四）其他事项 我们审查了本期内由省财政厅报送给世界银行的第08至！7号提 款申请书及所附资料〔我们认为，这些资料均符合贷式廿一汀勺要求， 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 中华人民共和国，胡月舒看审计厅 2020立6月州日 地址：中国湖北省武汉币天鹅路3号 邮政簖码：43 0071 电话二86一27一87236025 传真：86一27一87236025 I. Auditor's Opinion Auditor's Opinion To Xiaogan Logistics Infrastructure Construction Project Office We have audited the special purpose financial statements (frorn page 5 to page 19) of Xiaogan Logistics Infrastructure Construction project financed by the World Bank, which comprise the Balance Sheet as of December 31, 2019, 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 HuBei 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 HuBei 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 Government 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 - 3 - considers internal control relevant to the entities' preparation and fair presentation of the financial 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 Xiaogan Logistics Infrastructure Construction project financed by the World Bank as of December 31, 2019, its financial receipts and disbursements, the project implementation and the receipts and disbursements of the 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 No.8-No.17 and the attached documents submitted to the World Bank during the period. In our opinion, those 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 Notes to the Financial Statements, Audit Findings and Recommendations. Hubei Provincial Audit Office of the People's Republic of China June 28, 2020 Address: No. 3 Tian'c Road, Wuhan City, Hubei Province, P.R. China Postcode: 430071 Tel.: 86-027-87236025 Fax: 86-027-87236025 The English translation is for the convenience of report users; Please take the Chinese audit report as the only official version. -4- II. Financial Statements and Notes to the Financial Statements ( -) F 4 f-k i. Balance Sheet BALANCESHEET 2019 4 12 Y] 31 E- (As of December 3 1 2019) ~ ~fr4 n, ~ pj ~~~ Project Name: Xiaogan Logistics lnfrastructure Construction Project Financed by the World Bank Preparedby:Xiaogan Logistics Infrastructure Construction Project Offlice Curirie Unit RMB Yuain Appleaion of ind Beiinninc Balancc E ndinl: Halance Souräes of 0 u 1 egmm Balance Ening Hiancc __No_N_.__._._......... 89 1 2?47 6 19 -13.4h4,t642 I ia P 44 9_ 4 ,t 24 4 etal P lro Lt - xpendiiures 1 ' Fixed Assets Translerred C nstuictii Expenditure, to be Disposedun -3 5:4 'I ý1 ý4ý,4A < 1434SSiN 17 4 Cnstruction in Progre'ss825 9 1444664ToaPoj6 5 4450 2 nve m ~Ii e i n 4 esiean L oan ReceiNaNh or n Lo n ,4345 0 2 ',` IYi f"' ii~,4 a ~i15r2 ntlirudin: World Bank -l [nesm uen Loan RecegaNK Appropri l ion o nmestment 8 Loan ___[II Including :A,propriat in f 9 - - Tchncal o6 - World Bank lnvesmiient Loan oopelon [quipme - i H n nc Including: Equlimei Lsseses - 1) I oan in Suspense "'ý~ ~ ~ ~ 59,891 5 2,ý' L;I5,429.491 ý4 ol a1C ash and Bank MTrLn Cash n Bank 4,34357 4 i 436,.594 Appropriil 4- J 14 30,969.354.34 24,461,454.21 nui World ank 41 InJludirg: Speci al Accounl 154 Cah m -lndI 3,432Mi 3 43111 0 42 L Cash on Flandl Kon Iund l To be conlinuedJ -5 - , -, __ ,, К _- �jI' I- � � ..� ,.. . . 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Infrastnieture Construction Prqject Financed Indusirial and Comvriercial Bank of China by the World Bank 32020059-2920039273 1 8613-N Account No. 3202005929200'917' Loan No. 86 1 3-N Currency: USD Prepared by:The Finance Depamnerit of Hubin Province A.1, V: Parl VACCO1-int \clix ii\ Kir flic anew Pýrimf Bälancc _V, i n l Amouni thi'.ý Period hY kk,'ýrid Bank 14 1, inter-I l 11-, I'cri,,cd ii Dcpnýitcd in Spcýial Account -4 letal Amount ihi, ',:riod tc, C,,ser IiieliLitle L\pendjtui" D l . ... ........ ýN ýk ii this Period ',4.401 ý1 41 J Al L -i k Ku l sen ice Oial 2e-, lu 1 1 frikm liiý:Iiided in Abu% L7 -Xiii,)uiit kk'ithdruký n Lndini, Balarice ru ýkTo be cotitinued) - 12- , _ . гs ; �'„ r � , .t. ' '� 1'art 1�-Лс�'иипl ftc��,nuli.t�чэп 7г�7п�n,� , ,. 1 . i � 1 I' �. . � . . . ........ i � � � t а � г,г;, и�� ' ?'иiэ7oimt��d�r���.�J'п 1h'arld:Srпr� ' � 1 t s_' 1?гдисt _ !д . , Гnta1 amo i:< 62сспгс; сд . t'� �r"д 13а;эk I I. ; ...... _. . � . . � . t: t . . . - . 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I ..��'�..... � Л�гSiгсt ���,...�,.. , I i � I �, g л ii;�Л. ,::1tr: 1�. ., ",;г7 i _,ц�);,7 I ', (теи�с �� k r rtdfiГ.гi ..i�ie�Э inti;э�nalЛrrouпЭl � у э ,._ �., , ; � . .,.. . �,.�,Сlз .;i ,1г�.z1 эiгiч;игс� to thc 5rэ�ci.:1 гAicaun°, Пс�и ..1tcJ f�n .ii 1hr 1�_iъд пУ� aha� :' г и��: а � 13 （五）财务报表附注 财务报表附注 1．项目概况 世行贷款孝感物流基础设施建设项目贷款号为BRD86 13一cN，旨在加 强湖北省孝感物流园运营的连接性和效率。该项目涉及孝感币临空经济开 发区，主要项目内容包括连接通道、高效物流、机构能力加强。项目协议 于2016年5月26日签订，2016年8月24日生效，拼·州2021年6月30 日前关闭项目计划总投资为人民币962,600,000元，茸中世界银行贷款 总额为】00,000,000粎元，折合人民币637,40伙000元 2，财务报表编制范国 本财务报表的簖制井围为孝感市世界银行贷款物流基础没施项目管 理办公室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力、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！臼至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，采用借作泛式 记账法记账，以人民币为记账本位币。 3.4按照中国人民银行2019年12月31日汇率。即USDI二人民币 6 .9762元。 4．报表科目说明 4.1项目支出 20!9年项目支出人民币5生238,889井3元，累计支出人民币 143,464,666.42元，占总投资计划的14.90％」 4.2货币资金 一14- 2019年12月31日货币资金余额为人民币25,429,4 91.84元，比狙年 减少人民币12,168,297.30元，其中专用账户存款折合人民币24,4引，454.21 兀。 4.3预付及应收款 2019年12月31日余额为人民币12,834,921 .63元，主要是预付纵1 号、横8号和支50号一道路施工单位工程进度款二 4.4项目拨款 20 19年12月31日余额为人民币87,924,593.64元，是孝感市城投公 司、孝感币丰糔控股有限公司、孝感币临空区对政分局代孝感市政府给付 的项目费用：在会计报表上作为市政府的项目拨款反映。 项目计戈！l配套资金总额人民币325,200,000,00元，截至20四年12月 31日到位配套人民币87,924,593.64元，占计划的27.04％。 45项目借款 2019年12月31日余额为人民币84,34又508.22元，其中：国际复兴 开发银行贷款额为12,090,465.90美元，折合人民币84，抖5,508.22元。 截至2019年12月31日，累计提取世界银行件、弃金！2，。9。，465,9() 粎元，占贷款总额的13.23％。 4.6应付款 20 19年12月31日余额为人民币9,4 24,869.68元，主要是应付孝感币 丰糔控股有限公司垫付的前期费用和拆迁补偿款、环建工程建设监理公司 簴纳的履约保证金和支50号道路施工单位工程进度款 4.7留成收入 2 0 19年12月31日余额人民币36,969.60元，为在湖北省财政厅专用 账户存款利J自、收入。 5．专用账户使用情况 一15- 本项目专用账户设在工商银行水果湖又行，）吠号为 3202005929200392732，币种为美元。专用账户首次左或5,000,000,00美 元。2019年年初余额4,512,378.24粎元，本年度回辛｛·4,1 26,725.14美元， 利‘息、收入！,729.24粎元，本年度支付5,134,401.35美元，年末补颤 3,5 06,41 5 .27美元。 6．其他需要说明的事项 项目资金平衡表中国际复兴开发银行份款期末数与期初数之差、项目 进度表中相应本期发生额与贷款协定执行情况表人民币本期提款数不一 致是由于历年汇兑损益造成的。 一】6 v. Notes to the Financial Statements Notes to the Financial Statements 1. Project overview The Loan No. of Xiaogan Logistics Infrastructure Construction Pr( jcct Financed by the World Bank is BRDS613-CN.It ainis at improving the logistics linkage and efficiency for Hubei Xiaogan Logistics Park. This prQject involves Xiaogan Linkong Fconomic Zone. The project content mainly includes connecting channels, achieving efficient logistics, and strengthening institutional capacity. The project agreement was signed on May 26, 2016, and came into effect on August 24, 2016.The account of the project'vOll be closed before June 30, 202 1. The total investment plan of the project was RMB 962,600,000 yuan, among which the total World Bank loan amount was USD 100,000,000 , equivalent to RMB 637,400,000 yuan. 2. Consolidation Scope of the Financial Statements Consolidation scope of the financial statements covers the financial statements of the Xiaogan Logistics Infrastructure Construction Project Financed by the World Bank Office, 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 [Yorld Bank Financed Pr(?ject (Ca jizi[2000]No. 13 3.2 In accounting practice, the Gregorian calendar year is adopted as the fiscal year from January I to Deccmber 3 1. 3.3 The accrual basis and the debit/credit double entry bookkeeping method 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 31, 2019 of the People's Bank of China, which is USD I- RMB 6.9762 yuan. 4. Explanation of Subjects 17 4.1 Total Project expenditures The project expenditure in 2019 was RMB54,238,889.43 yuan, and the cumulative expenditures were RMB143,464,666.42 yuan, which accounted for 14.90% of the total investment plan. 4.2 Cash and Bank On December 31, 2019, the balance was RMB25,429,491.84 yuan with a decrease of RMB 12,168,297.30 yuan compared with that of the last year. And the funds in the Special Account were converted to RMB24,461,454.21 yuan. 4.3 Prepaid and Receivable Its balance on December 31, 2019 was RMBl2,834,921.63 yuan, mainly the prepayment to the construction organization for Vertical No. I Road, Horizontal No. 8 Road and Branch No. 50 Road. 4.4 Project Appropriation Funds The balance on December 31, 2019 was RMB87,924,593.64 yuan,which was upfront fee paid by Xiaogan Urban Construction Investment Company, Xiaogan Fengxiang Holding Ltd., and Xiaogan AEZ Financial Bureau on behalf of Xiaogan government, recorded as government appropriation in the accounting statement. The total planned counterpart funds of this project were RMB325,200,000.00 yuan. By the end of 2019, RMB87,924,593.64 yuan of the counterpart funds had been allocated, which accounted for 27.04% of the plan. 4.5 Project Loan The balance on December 31, 2019 was RMB84,345,508.22 yuan, including the IBRD loan USD12,090,465.90, equivalent to RMB84,345,508.22 yuan. By the end of December 31, 2019, accumulated USD12,090,465.90 of the World Bank loan had been withdrawn, accounting for 13.23% of the tota. 4.6 Payable The balance on December 31, 2019 was RMB9,424,869.68 yuan, mainly - 18 - payable for Xiaogan Fcngxiang Holding Ltd. flor the upfront fee and demolition compensation fee advanced by Fengxiang, and for the environmental engineering supervision company as the performance bond,and for the progress payment to the construction organization for Branch No. 50 Road. 4.7 Retained Earnings The balance on December 31, 2019 was RMB36,969.60 yuan, which was the interest on deposit in the special account of Finance Department of 11ubei Province. 5. Special Account The Special Account of this project is set in Shuiguohu Branch, Industrial and Commercial Bank of China (ICBC), with the account number of 3202005929200392732, and USD as currency Unit.The initial Deposit of the Special Account is USD5,000,000.00. The beginning balance of 2019 was USD4,512,378.24 and the reimbursement in the year was USD4,126,725.14. This year the interest earned was USDI,729.24 and the disbursement was USD5,134,401.35. Thus, the ending balance was USD3,506,415.27. 6. Other Explanation for the Financial Statements Due to the change of foreign exchange rate, there are discrepancies between the difference of the beginning and ending balance of the IBRD loan in the Balance Sheet, the current year's loan received in the Summary of Sources and Uses of Funds by Project Component and the amount Of current year's withdrawals (disclosed in RMB) in the Statement of Implementation of Loan Agreement. - 19- 三、审计发现的问题及建议 审计发现的问题及建议 除对财务报表进行审计并发表审计意见外，甲计中我们还关注了项目 执行过程中相关单位国家法规和项目贷款协定遵守情况、内部控制和项目 管理情况、项目绩效及上年度审汁建议整改落’分隋况。我f〕发现存在如下 问题： （一）项目管理方面存在的问题 项目推进不力，工程进度严重滞后，未能达到工程计划要求。 2019年本年项目投资计划139,151,500,00元，实际完成54,238,889.43 元，占计划38.98％。其中三个子项目完成情况：连挂：泛项目计划完成 73,831,50。，00元，实际完成46,311,569,93元，占62.73‘阮高效物流计戈IJ 完成50,040,000.00元，实际完成3,003,000.00元，占6,00%；机构能力提 升计戈．J完成11,550,000。。o元，实际完成l,327,353.94元，占11.49伙，。 该项目从20工6年8月开始实施，买施期五年，至2021年6月关账。 截至2019年12月底，项目计划完成投资962,600,000.00元，实际累计完 成143,464,666.42元，仅占计戈｝｛投资额的14.90％。 以上做法，不符合世行于2018年11月6日更新的《世行贷款湖北孝 感临空物流基础设施建设项目采购计划》以及A一LJTOCI（支50号二洛 工程）、A一LJTDCZ（横8号道路工程）、八一LJTDC3（纵l号道路工程） 合同约定的工程完成期限审计建议，你办加强项目管理，制定切实有效 的措施，严格按照世行要求加快项目建设进程，保证项到顺利实施。你办 已接受建议。 （二）上一年度审计发现问题未整改情况 审计发现，上一年度审计报告中披露的3个问题中，项目进度缓慢、 一2通）- 施工许可证未办理2个问题未得到整改，本年度仍然存在。生议你办应切 实制定和落买整改措施，完善制度，加强管理，促进项目咬利买施。 一2】－ M. Audit Findings and Recommendations Audit Findings and Recommendations In addition to performing the audit and expressing an opinion on the financial statements, we also make observations with respect to compliance with applicable provisions of state laws and regulations and the loan agreement of the relevant entities, its internal financial control and prc ject managernent, project performance and the follow-up of previous recommendations during the project implernenting process. We found the following issues: Issues on project management The project was not well advanced, the project progress was seriously lagging behind, and it failed to meet the requirements of the project plan. In 2019, the investment plan of the project was RMB 139,151,500.00 yuan, and RMB 54,23S,889.43 yuan was actually completed, accounting for 38.98% of the plan. Among them, the completion of three subprojects: the connection logistics pr ject was planned to be RMB 73,831,500.00 yuan, and the actual completion was RMB 46,311,569.93 yuan, accounting for 62.73%; the efficient logistics project was planned to be RMB 50,040,000.00 yuan, and the actual completion was R-MB 3,003,000.00 yuan, accounting I - or 6.00%; the institutional capacity improvement plan was planned to be RMB 11,550,000.00 yuan, and the actual completion was RMB 1,327,353.94 yuan, accounting for 11.49%. The project was implemented from August 2016,and would be closed by June 202 1 with a five-year implementation penod By the end of December 2019, the planned investment of the project was RMB 962,600,000.00 yuan, and the actual cumulative investment was RMB 43,464,666.42 Lian, only accounting for 14.90% of the planned investment. The above practice was not in accordance with the Bank's Updated Procurement Plan for Xiaogan Ali-port Logistics Infrastructure Construction Project in Hubei Province, which was updated on November 6, 20 18, and the completion deadline agreed in the A-LJTDC1 (Supporting Road 50), A-LJTDC2 (Supporting Road 8), and A-LJTDC3 (Supporting Road 1) contracts.We suggested that your office strengthen project managen-ient, -22- formulate effective measures, accelerate the project construction process in stnct accordance with the requirements of the world bank, and ensure the smooth implementation of the project. Your office accepted the suggestion. The Followed-up of previous recommendations Through audit we found 2 of the 3 issues disclosed in the audit report of previous year were still not followed up, i.e. slow progress of the project and failure to handle the construction permit. We suggested your office should formulate and implement the rectification measures, improve the system, strengthen the management and promote the smooth implementation of the project. Your office accepted the suggestion. -23 - , 'r � � с .�... �.. 1 � � ... . � .. � .... . �'......... г г г�� г г г� г . � . r , . I