"Socia! safety net strengthening pýect'' Grапt No. H726-TJ; Grапt No. D270-TJ; Credit No. 6175-TJ The pýect fiпапсiаl statements fоr the уеаr ended DесеmЬеr 3'l, 2О19 forthe реriоd from Jапчаry 1,2020 to June 30, 2020 and fоr the grace реriоd frоm July ,1, 2020 to August 31,2О20 and independent auditors' report "SoclAL SАFЕTY NET STRENGTHENING PRoJEGT,, GFIАNт No. H726-TJ; GRANT No. D270-TJ; cREDlT No.6,t75_TJ TABLE ОF CONTENTS Page Sn\TEMENT оF MANAGEMENT,S RESPoNS|BlLlTlES FoR ТНЕ PREPARAT|ON AND APPROVAL ОF THl= PRoJEcT FlNANC|AL STATEMENTS 2 |NDEPENDENT дUDIтоRS, REPoRT 3-6 ТНЕ PROJECT FlNANC|AL STATEMENTS Folt тнЕ YEAR ENDED DECEMBER 3,1, 2019 FоR тнЕ PERloD FRoM JANAURY 1,2о2о то JUNE 30, 2020 AND Folt тнЕ GRACE PERloD FRoM JULY 1 ,2о2о то AUGUST 31, 202о paid {summery of funds rесеiчеd and ехрепditчгеs 6 {}ummery of expenditures paid Ьу pюject components 7 l{otes to the рюjесt fiпапсiа| statements 7-14 "SocIAL SAFETY NET STRENGTHENING PRoJEGT,, GRANT No. H726-TJ; GRANT No. D270-TJ; cREDlT No.6175_TJ STATEMENT оF MANAGEMENT,S RESPoNSlBlLlTlES FoR тнЕ PREPARAT|oN AND APPROVAL ОF ТНЕ PROJECT FINANCIAL STATEMENTS Тhtl following statement, which should Ье геаd iп conjunction with the independent auditoгs' responsibilities is made with а view to distinguish the respective rеsропsiЬilitiеs of management and those of the Йdependent auclitors in rеlаtiоп to_the рrоjесt fiпапсiаl statements oJ the Project "SоЪiаl safety net strengthening рюjесt'', Grапt No. H726-TJ; Grant No. D270-TJ; Credit No. 6175-TJ (thb "Prolect"). Management is rеsропsiЬlе fоr the рrераrаtiоп of the рюjесt financial statements that рrеsепt fаirlу, in all material respects, the summary of funds received and expenditures paid апd the Summary of expenditures qаЦ !У Project СОmРО_ПеПts of the Project fоr the уеаг ended December 31, 2О19, fоr the реriос rгоm January 1, 2:ý20 to June 30, 2020 and fог the gгасе period frоm July 1 , 2о2о to Дugust 31 2о2о in ассогdапсе , with lпtеrrпаtiопаl Public Sector Accounting Stапdаrd ''Fiпапсiаl Rерогtiпg UпdБr the iash Basis of Дссоuпtiпg'' (thct "lpsAs") issued Ьу the lпtеrпаtiопаl public Accounting standards Воаrd of the lпtегпаtiопаl Fеdеrаtйп of Ассоuпtапts апd the Wоrld Bank's Fiпапсiаl МапаgеmепiSесtоr Board's "Guidelines: дппчаl Fiпапсiаl Rерогtiпg and Auditing fоr World Bank Financed Activities" (the "WB Guidelines"). lп ргераriпg the рюjесt financial statements, management is геsропsiьlе fоr: . |ýe|ecting suitable accounting policies and applying them consistently; . making judgments апd estimates that аrе rеаsопаЬlе and рrчdепt; , litating whether IPSAS and WB Guidelines have Ьееп followed, subject to апу material dерагtчгеs tjisclosed and explained in the project financial statements; and , рrерагiпg the project financial statements оп а going сопсеrп basis, unless it is iпаррrорriаtе to ргеsчmе . that the Ргоjесt will Ье implemented iп ассоrdапсе with the established регiоd. Мапаgеmепt is also responsible fоr: . -NФ{(о (о ; l (r) - 9q|-ý сrоrr|о (?, б oL о-> Ф9rа r' c,i <'i .-- со Е_о ; ЁЕЕ=ýý Фьо) (l оu, оФ р EýdH:: ос .р зll ФФ ,= :Е bER 9ý| ;Е Yхо_ о-Ф Е ý lд Ео Ф Ф 66 1 Еr) .аЕ FF f -) |o)||-|.l -8 g, = | l I Ф (о(o l l , 9а ý|ь F о l l I l I l Ф со_ ; нэ; ЕЕ oro Ф .Е bJ йохь ý_ .3о {J J со Е ЁЁiýJ: \Е -с о9 a,о Е fif;Е 9 L, Y Ёý Ео :t! йй lрЕ о с,) tr ЕЕ o.ýl оО еЁ сЕ * ,6 1= ,.i] Ф Е ъ:а о lE о Е == е .ръ .,- ]Ев о о Е _о - Фl- э-9 .3 о I 6 яБ tл iяЕ Е ;а !DE taб о т, Е Б Е& рБ в Е Р рБ lý о- Е Ф о я д 0Ё Бъ д ъ gБ Ё нЕfi о lБэ Ф .9 б iBc9l =-ч с 1л t g*3 Ё i5Ф 5 БЁt ь Ф Elo о = u, ъ ; Еъд & н |=9 Ф а н Е;я g а iI g Е frЕв , Е э :ig б й Еей g оо = я вБ :_ lr, g gFg 8g Е g= ЕЁЁ 9 о зл lBE Е зО. о Е: БЕ lл оЕчiБ€ о Ёк t Е.ь 9ч,а .Ёоо .Б.9 х о Е ý ЕЁg ЁЗЁ цi iq; о яй её эdо -Е _с Ё н Е8 "сФоо Е l_ оФ } б i}E u' эa]l ai -о о э т, а€ а с.Е Ё ср-йо-,Е Е d, ёq о Е 9€ Ё Ё эg е ц l--! о ЁgЁЁЁЁýЕЁ'ЕЁý-ЁЕЕЕЁ Ё UrЕUr.лФ5э<о d 7. FlNANclAL PoSlTloN Financial position as at August 3't, 202О, June 30, 2020, DесеmЬеr 31, 2019 апd DесеmЬеr 31, 2018 соmрrisе: August 3'l, Jчпе 30, December 31, December 31, 2020 2020 20,19 2018 ASSETS AND EXPEND|TURES Cash and cash equivalents 7,195 95,965 3,035 88,191 Cumulative expenses 4,840,644 4,751,874 4,380,386 3,195,040 Fоrеigп exchange loss 647 647 642 620 Оthеr expenses 41о 410 4.10 4.10 TOTAL ASSETS AND EXPENDITURES 4,848,896 4,848,896 4,з84,473 _з284,жL FlNANclNG Funds rесеiчеd 4,842,124 4,842,124 4,377,7ов 3,277,51s other iпсоmе 6,772 в,772 6,767 6,742 TOTAL FINANCING ____1,81ýJ99_ ____1,8!ý.q96 4,384,473 3,284,261 8. WITHDRAWALAPPLlcATloNS Тhеrе Wеrе по withdrawal applications dчriпg gгасе реriоd from July 1,2о2о to August з1,2о2о, Withdrawal applications fоr the реriоd frоm January 1,2о2о to Jчпе 30, 2О20 соmрrisе: Sources of Application Date Счrrепсу Reimbursment Direct payment Total financing of expenses Credit No.6175_TJ 5 Jапчаry 23,2020 USD 95,000 95,000 6 Маrсh 9, 2020 USD 141,827 141,827 7 June16,2020 USD 134,015 ,134,015 8 June29,2020 USD 93,576 93,576 9 пlа 464,418 464,418 Withdгawal applications fоr the уеаr ended DесеmЬеr 31, 2019 соmрrisе: Sources of Application Date Счrrепсу Reimbursment Direct payment Total financing of expenses Grant No.D270-TJ 4 January 16,2019 TJS 142,в79 142,679 5 Маrсh 1,20,t9 USD 115,s9; 15,896 6 1 маrсh 20,2019 USD 251,982 251,982 7 Мау20,2019 USD 1о7,202 107,2о2 8 July 25, 2019 USD 46,846 46,846 9 SерtеmЬеr 10,2019 USD 10 NочеmЬеr28,2019 USD . 269,944 394,661 664,605 Credit No.6l75-TJ 1ol1 September 24,2019 USD 141,814 141,814 2 November 19,2019 USD 99,369 99,369 3 DесеmЬеr 12,2019 USD 61,112 61,112 4 December 20, 2019 TJS 133,287 133,287 302,295 133,287 435,582 572,239 527,948 ,1 ,1 00,187 12 Deleted withdrawal app|ications fоr the уеаr ended DесеmЬеr 31, 2019, fоr the реriоd frоm January 1, 2020 to June 30, 2Рt20 and grасе реriоd from July 1, 2020 to August 31, 2020 соmрrisе: Sочrсеs of Application Date Счrrепсу Reimbursment Direct payment Total financing of expenses Credit No.6l75-TJ ,l0 пlа 9. SPEGIAL AccoUNT Special ассоuпt for the уеаr ended DесеmЬеr 31, 20,t9, fог the period fгоm January 1, 2о2о to June 30, 2020 and 9rасе реriоd frоm July 1,2о2о to August 31,2о2о соmргisе: Вапk OJSC "Eskhata Bank" Сurrепсу US Dоllаrs вапk ассоuпt 202068400000201 00254 вапk's location 69 Shevchenko str. Dushanbe, the Republic of Tajikistan Ва]апсе as at DесеmЬеr 3.1, 2018 86,048 RеimЬчrsеmепt of expenses 572,2з9 Total fчпds received to the designated account 572,239 Expenses paid 168,100 тrапsfеr Ьеtwееп accounts 488,000 Ваlапсе es at December 31, 2019 2,187 Reimbursement of ехрепsеs 4м,418 Total funds recelved to the designated account 4о4,418 Expenses paid 74,880 Transfer Ьемееп accounts 295,855 Balance as at Jчпе 30, 2020 95,870 Expenses paid 8,379 Transfer between accounts 87,491 Balance as at August 31, 2020 10. UNDRAWN FUNDS As at August З1, 2020 uпdrаwп fund is presented as follows: Credit Grant Grant No.6175-TJ No.D270-TJ No. H726-TJ iп USD in SDR in SDR Approved.financing arnount ,13, 9о0,о00 7оо,о00 2,100,000 DisЬчгsеd during the Period frоm July 201 1 to August 3.t 2о2о , 9оо,оо0 7о0,0оо 2.о99.736 Uпdrаwп fiпапсiпg афочпt 264 Fiпапсiпg. received as at January 1 , 2019 - 221 ,gu 2,099,736 Disbuвed for the реriфd from January 1, 2019 to August 31, Fiпапсiпg received as at Jчпе 30, 2о2о 90о,ооо_ 700,0о0 2.о99.736 11. COMMITMENTS lп the поrmаl соursф of activities, the Рюjесt concludes аgrееmепts with suppliers of goods апd sеrчiсеs iп ассоrdапсе with the established budget and рrосчrеmепt рlап. Сопtrасt value of oýligations valid as at August 31, 2020 was as follows: .13 Contract No. Contract Paid up to Remaining чаlче August 30, amount to 2020 Ье paid Ваkеr Tilly Klitou Раrtпеrs SRL 71о4 7,104 Rashiddinov А. 91 91 LEGAL CASES There wеrе по legalcases rеlаtеd to the Project. 14