Government of the Republic of Malawi LOCAL DEVELOPMENT FUND (LDF) FINANCIAL STATEMENTS FOR THE ELEVEN MONTHS PERIOD ENDED 30TH JUNE 2017 FOURTH MALA WI SOCIAL ACTION FUND (ADDITIONAL FINANCING) - STRENGTHENING SAFETY NET SYSTEMS PROJECT- CREDIT 5610 MW AND GRANT D045 National Audit Office PO Box 30045 Lilongwe LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING-CREDIT 5610 MW AND GRANT D045-MW Table of Contents Page EXECUTIVE DIRECTOR'S REPORT. ... ............................................ ............................ ..... ... . 3 EXECUTIVE DIRECTOR' S REPORT (CONT'D) ....... .. ..... ....... .... ..... ................ ... ... .. .. .. ........ 4 EXECUTIVE DIRECTOR'S REPORT (CONT' D) .... .. ..... ... ............ .... ........ ... ..... ..... ...... ..... ... . 5 STATEMENT OF MANAGEMENT RESPONSIBILITIES ....... ..... ... ....................... ....... ....... 7 AUDITOR GENERAL'S REPORT ............................................. ........... ............ ...................... 8 STATEMENT OF FINANCIAL POSITION AS AT 30TH JUNE 2017 ....... ... ....... ......... ...... .............. ... ... ...................................................... 11 STATEMENT OF RECEIPTS AND PAYMENTS PERIOD YEAR ENDED 30TH JUNE 20 17 ............... ...... ......... ... .. ....... ..... .... ............... ....... .... 12 RECEIPTS AND PAYMENT ACCOUNT FOR THE DESIGNATED ACCOUNT FOR THE PERIOD ENDED 30TH JUNE 20 17 ....................................... ......................... ....... 13 NOTES TO THE FINANCIAL STA TEMENTS FOR THE PERIOD ENDED 30TH JUNE 2017 ............................. .. ... .......... ... ........................ 14 NOTES TO THE FINANCIAL STATEMENTS CONTINUED .............. ..... ...... .. .. ... ........ .... 16 NOTES TO THE FINANCIAL STATEMENTS CONTINUED ... ... ........... ...... .. ................... 17 ANNEX I: DESIGNATED ACCOUNT MOVEMENT ........................ ... ... ......... ........... ... .... 20 ANNEX II - FUNDING TO COUNCILS .... ................. ......... ... ... ................ ...................... ..... . 26 LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING -CREDIT 5610 MW AND GRANT D045-MW EXECUTIVE DIRECTOR'S REPORT FOR PERIOD ENDED 30TH JUNE 2017 1. ESTABLISHMENT OF THE LOCAL DEVELOPMENT FUND (LDF) - LDF AREAS OF OPERATION The Government established the LDF to support and strengthen decentralisation process in Malawi with the overall objective to "empower local communities to take part in decision-making processes through improved local governance and development management, in order to reduce poverty and improve service delivery. " At the National Level, the Government established a Technical Support Team (TST) of experts responsible for the day to day operations of projects financing the LDF. The TST assists in (a) the development of operational procedures, (b) monitoring of project implementation and performance, and providing assistance to Ministries and Local Authorities involved in the implementation of the LDF. Responsible for policy guidance and approval of planning figures is the LDF Steering Committee with the following memberships: Secretary to the Treasury, Principal Secretary for Public Sector Reform, Secretary for Development Planning and Cooperation, Secretary for Local Government and Rural Development, representative of Council for Non-Governmental Organisations, Executive Secretary of National Local Government Finance Committee. The Steering Committee is supported by the National Technical Advisory Committee. At the Local Assembly level, the LDF has four funding windows maintained as budget lines under the control of the District Commissioner:- • Community Window for micro-projects requested and managed by communities using structures at the Village Development Committee level and finance services for strengthening economic growth; • Local Authority Window to finance investments too large for direct community management; • Urban Window for developing and improving economic services for private investments and especially for low income groups and stimulate economic growth and private investments; and • Performance Window to finance activities needed to address capacity constraints at Village, Area Development, and Local Authority development structures. LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING -CREDIT 5610 MW AND GRANT D045-MW EXECUTIVE DIRECTOR'S REPORT (CONT'D) FOR PERIOD ENDED 30™ JUNE 2017 2 FUNDING SOURCES During the year to 30th June 2017, the MASAF IV Proj ect received funding from the World Bank through the Original Financing (credit number 5343 MW) and Additional financing (Credit no 5610-MW and Grant D045) which became effective on 14th August 2014 and 18th August 2015 respectively. MASAF IV Original Financing Under Original Financing, the IDA has provided a total ofSDR21.4m - Special Drawing Rights (US$30.4m) to support implementation of Strengthening Safety Net Systems Project. MASAF IV Additional Financing Through Credit no 5610-MW and Grant D045 under Additional Financing signed on 18 111 August 2015, the IDA has provided SDR52.8m (US$75million) to support implementation of Strengthening Safety Net Systems Project. The programme will run up to 30th June 2018. The Project Development Objective (PDQ) of the proposed project is "to strengthen Malawi's social safety net delivery systems and coordination across programs." The PDQ would be achieved through the strengthening of a Social Safety Nets system, which would increase productive assets and reduce the impact of shocks and vulnerability of the poor in Malawi and improve coverage of targeted benefits. The overarching goal of the PDQ is to reduce vulnerability. In the PDO, strengthening delivery systems would mean providing coverage and support for the poor and vulnerable households for the purpose of improving incomes, resilience, assets and ability to manage risks. This would be assessed in terms of (i) targeting and coverage of benefits, (ii) adequacy of the benefit in terms of ability of households to invest in household level assets and human capital, and (iii) capacity of involved institutions to manage the program efficiently so that the costs of delivery are within established norms for effective safety nets . The Project activities are supported through three Components and these are: (a) Productive Safety Nets, comprising of three subcomponents: Productive Public Works Programme; Livelihoods and Skills Development; and Social Cash Transfer; (b) Systems and Capacity Building; and (c) Project Management. LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING -CREDIT 5610 MW AND GRANT D045-MW EXECUTIVE DIRECTOR'S REPORT (CONT'D) FOR PERIOD ENDED 30TH JUNE 2017 These statements have been prepared to reflect the activities and position of MASAF IV Additional Financing, Strengthening Safety Net Systems Project, Credit no 5610-MW and Grant D045 for the period ended 30 111 June 2017. 3.0 PROGRAMME ACHIEVEMENTS 3.1 Productive Safety nets component (a) Productive Public Works A total of 985,635 households (representing 100% of End of Project target) have been reached with Productive Public Works Programme cash transfers of which 450,000 households are repeated across each of the cycles since June 2016 to enable the beneficiary livelihoods achieve enough resilience against shocks. In the year under review, an additional 450,000 households had been reached in 2 cycles through the Emergency Public Works Programme. A total of K15.6billion (USD21.5million) has been transferred to councils for implementation of PWP during the year under review. (b) Livelihoods and skills development As at the end of June 2017, a total of 5,254 groups were formed against end target of 6,697 groups. These groups have a total membership of 134,700 people surpassing the targeted 120,808 members by 13,892. Overall, a total of256 cooperatives and clusters have benefitted against an end of Project target of 400. On savings mobilisation, cumulative group savings were estimated at K2.9 billion against the targeted K4.2 billion. (c) Social Cash Transfer The SCT sub-component had initially targeted Dedza and Nkhata Bay district councils, with 21 ,612 households against the target of 21,000 enrolled and receiving cash transfers. The SCT programme is being scaled up to 9 additional district councils namely; Rumphi, Nkhotakokota, Lilongwe, Kasungu, Blantyre, Chiradzulu, Dowa, Ntchisi and Karonga. Resources amounting to US$4.4million (K3.3billion) had been disbursed to councils for implementation of the Social Cash Transfer programme during the year under review. These include: transfers to beneficiary households ; funds for case management and for administration for Dedza and Nkhata Bay district councils and roll out of SCT in the 9 additional districts. 3.2 Systems and Capacity Building Component Major accomplishments included: Training of District Training Teams (DDT members in UBR processes; Supervision of UBR data collection process in the 9 councils; Support finalization of Safety net planning process in urban councils; Facilitation on the updating of Social Economic Profiles (SEPs) and District Development Plans (DDPs) for Dedza and Nkhata-Bay district; Training of DESC members in Geographical Information System (GIS); and monitoring of UBR data collection processes. Other achievements included, reviewing of Screening Forms for PWP and Infrastructure Projects, enhancing implementation of the Environmental and Social Safeguards in the councils and a meeting with all Environmental District Officers. 3.3 Project Management Support towards coordination and supervision of the programmes continued during the year to ensure effective delivery of the respective programmes. Some of the achievements included Formative evaluation of the UBR targeting processes in six district councils; Dissemination of findings from the Implementation Support Mission; and dissemination of the Citizen Report Card to key stakeholders; Tracking progress on programme indicators i.e. monitoring of Results Framework targets; UBR platform development and implementation; Mthandizi MIS review and upgrade; Social Cash Transfer System Review and Development; production and airing of radio messages; Production of Information, Communication and Education materials; and media tours to project sites. ...................•.•.. Charles Manda ~..... ~ ,I- EXECUTIVE DIRETOR LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING-CREDIT 5610 MW AND GRANT D045-MW STATEMENT OF MANAGEMENT RESPONSIBILITIES FOR PERIOD ENDED 30TH JUNE 2017 The Executive Director at Technical Support Team, under the Direction of the Secretary to the Treasury as Controlling Officer and Secretary for Local Government and Rural Development as overseer on programmatic matters, is responsible for preparing the Annual Financial Statements of the LDF in accordance with the financing agreements for the projects supporting the LDF and in line with the Public Finance Management. In preparing the Financial Statements, the Executive Director is required to : a) Select proper and suitable accounting policies and apply them consistently; b) Make judgements and estimates that are reasonable and prudent; c) Prepare the financial statements on a going concern basis unless circumstances dictate otherwise. d) Comply with applicable accounting standards when preparing the consolidated financial statements, subject to any material departures being disclosed and explained in the consolidated financial statements The Executive Director and Controlling Officers of all agencies utilising LDF funds are responsible for keeping proper accounting records that reflect with reasonable accuracy at any point in time, the financial position of the components of the LDF under their implementation. Each Controlling Officer is answerable to the Public Accounts Committee of Parliament. The Secretary to the Treasury, however, takes overall answerability to the LDF Funding partners and Public Accounts Committee. The management is of the opinion that the financial statements give a true and fair view of the financial affairs of the project and of its operating results. The finfnci 1 statements have been approved by the Local Development Fund ./.b. on .. 1 .,.~.J.Zfl.(,&...... and are signed on its behalf by: EXECUTIVE DIRECTOR Telephone: + 265 1 770 700 In reply please quote No. .. ........................... ... .. . Facsimile: +265 I 773 071 +265 I 776 125 NATIONAL AUDIT OFFICE +265 I 774 138 P.O. BOX 30045 CAPITAL CITY All Communications should be addressed to : LILONGWE 3 National Audit Office MALAWI AUDITOR GENERAL AUDITOR GENERAL'S REPORT TO THE EXECUTIVE DIRECTOR ON THE FINANCIAL STATEMENTS OF THE LOCAL DEVELOPMENT FUND - FOURTH MALA WI SOCIAL ACTION FUND (ADDITIONAL FINANCING)- STRENGTHENING SAFETY NET SYSTEMS PROJECT-CREDIT 5610 MW AND GRANT D045 FOR THE YEAR ENDED 30TH JUNE, 2017 Opinion I have audited the of Financial Statements of Local Development Fund - Fourth MASAF (Additional Financing) Strengthening Safety Nets Systems Project - Credit Number 5610-MW and Grant D045 , comprising Statement of Financial Position, Statement of Receipts and Payments, Statement of Designated Account and other explanatory notes for the year period ended 301h June, 2017 as set out on pages 11 to 27. In my opinion, except for the possible effects of the matters described in the Basis for Qualified Opinion paragraph, the financial statements, present fairly, in all material respect, the financial position of Local Development Fund - Fourth MASAF (Additional Financing) Strengthening Safety Nets Systems Project as at 30th June, 2017, and of its financial performance for the year then ended in accordance with International Public Sector Accounting Standards (IPSAS) and in the manner required by the Donor. Basis for Qualified Opinion I conducted my audit in accordance with International Standards of Supreme Audit Institutions (ISSAis). My responsibilities under those standards are further described in the Auditor 's Responsibilities for the Audit ofthe Financial Statements section of my report. I am independent of the Local Development Fund in accordance with the International Standards of Supreme Audit Institutions - Code of ethics (ISSAI 30) as promulgated by the International Organisation of Supreme Audit Institutions (INTOSAI), and I have fulfilled my other ethical responsibilities in accordance with these requirements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion. i) The project through Blantyre District Councils incurred a total amount of Kll0,512,291.00 in respect of payments for Social Cash Transfer activities that were not produced for audit inspection as highlighted in the management letter, paragraph 4.1 .2, Therefore, I could not ascertain the validity, occurrence and completeness of such transactions. 0 ii) The Project through District Councils incurred expenses not related to the project as highlighted in paragraphs; 4.2.3, 4.5 .1 , 4.8.2,4.9.1 and 4.10.1 in the management letter and the expenditure if therefore, ineligible under the credit agreement. The following are the details : Chiradzulu District Council- K 2,514,466.88 Dowa District Council - K2, 559,057.36 Lilongwe District Council - K 4,578,563.00 Machinga District Council - K2, 044,052.55 Mangochi District Council - K 1, 613,461.25 iii) The Project through Nsanje District Council incurred expenses worth K18, 550,102.00 without supporting documents as highlighted in paragraphs 4 .15. 6 and 4 .15 .7, therefore, I could not ascertain the validity of such payments. Key Audit Matters Key audit matters are those matters that, in my professional judgment, were of most significance in my audit of the financial statements of the current period. These matters were addressed in the context of my audit of the financial statements as a whole, and in forming my opinion thereon, and I do not provide a separate opinion on these matters. I have determined that there is no need to communicate key audit matters in my report due the nature of the audited entity. Responsibilities of Management for the Project's Financial Statements Management of the Local Development Fund is responsible for the preparation and fair presentation of the financial statements in accordance with International Public Sector Accounting Standards (IPSAS) Financial Reporting under the Cash Basis of Accounting, Donor terms of agreement and financial provisions, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. This responsibility includes designing, implementing and maintaining internal controls relevant to the preparation of the financial statements that are free from material misstatements, whether due to fraud or error. Auditor's Responsibilities for the Audit of the Project's Financial Statements My 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 my opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with International Standards of Supreme Audit Institutions (ISSAis) will always detect a material misstatement when it exists. Misstatements 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 Project's Financial Statements. As part of an audit in accordance with ISSAis, I exercise professional judgment and maintain professional scepticism throughout the audit. I also: • Identify and assess the risks 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 my 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, intentional omissions, misrepresentations, or the ove1Tide of internal control. • Obtain an understanding of internal control relevant to the audit 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 internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management. • Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. I 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 control that I identify during my audit. I also provide those charged with governance with a statement that I have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on my independence, and where applicable, related safeguards. From the matters communicated with those charged with governance, I determine those matters that were of most significance in the audit of the financial statements of the current period and are therefore the key audit matters. I describe these matters in my auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, I determine that a matter should not be communicated in my report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. The engagement auditor on the audit resulting in this independent Auditor General's report is : S i g n a t u r e : ~ ..... STEPHENSON KAMPHASA AUDITOR GENERAL NATIONAL AUDIT OFFICE LILONGWE MALAWI Date:.l6/-d..~/ fl 1 " LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING - CREDIT 5610 MW AND GRANT D045-MW STATEMENT OF FINANCIAL POSITION AS AT 30THJUNE 2017 Note s As at 30 June 2017 As at 30 June 2016 US$ MK US$ MK Non-Current Assets Social Economic Investments Public Works Programme(PWP) 5 27,3 19,562 19,659,675, 196 319 227,658 Social Cash Transfer(SCT) 5 3,3 52,224 2,422,530,565 718,379 513 ,28 1,648 Livelihoods and Skills Development(COMSIP) 5 3 084 493 2,246,207, 194 528,946 379,254, I 04 Total 33,756,278 24,328,412,955 1,247,644 892,763,409 Property, Plant & Equipment Motor Vehicles 6 3,017,034 2, 180,998, 144 Computers 6 432,894 317,333 ,217 Office Equipment 6 744 715 544,148,015 Tota l 4,194,643 3,042,479,376 Total Non-Current Assets 37,950,921 27,370,892,331 1,247,644 892,763,409 Current Assets Bank and cash Balances 4 7,275,039 5,366,844,2 11 14,743,588 I 0,532,949,450 Total Current Assets 7,275,039 5,366,844,211 14,743,588 10,532,949,450 Total Funds Employed 45225960 32737736542 1599123] ]]425712860 Financed by : World Bank (IDA)Grant 0045 and Cred it 56 10-MW 7 48 ,210,520 34,9 14,226,991 16,000,000 11 ,432,000,000 Other Receipts 3 17,590 12,804,943 3,098 2,221 ,481 Local Authority Capacity Enhancement (LACE) 5 (I, 166,0 15) (850,426,661) Project Management 5 (1,836,135) (1,338,868,731) (11,867) (8,508,622) Total Finances 45 225 960 32 737 736 542 ]5 991 231 11,425 712 860 Executive Director ... ~ /.!l!.. . . .rL. . . . ...... / - C.Maodala ................... S.Mchenga 1 1 LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING - CREDIT 5610 MW AND GRANT D045-MW STATEMENT OF RECEIPTS AND PAYMENTS PERIOD YEAR ENDED 30TH JUNE 2017 30th June 2017 30th Jun e 2016 Notes US$ MK US $ MK RECEIPTS IDA Cred it 3 32,2 10,520 23 ,482,226,99 1 16,000,000 11 ,432,000,000 Other Receipts 3 14,492 10,583,462 3,098 2,22 1,48 1 Total Receipts for the year 32 ,225,012 23,492,810,453 16,003,098 11 ,434,221 ,481 Opening Balances 4 14,743 ,588 I 0,532,949,450 Total Income 46,968,600 34,025,759,903 16,003,098 11 ,434,221 ,481 Expenses Pub lic Works Sub Programme 5 27,3 19,243 19,659,447,538 319 227,658 Social Cash Transfer 5 2,633 ,845 1,909,248,9 17 7 18,379 5 13,28 1,648 Live lihoods and Ski lls Development 5 2,555 ,547 1,866,953 ,09 1 528,946 379,254, 104 Local Authority Capaci ty Enhancement (LACE) 5 I, 166,0 15 850,426,66 1 Project Management 5 1,824,268 1,330,360, I 09 11 ,867 8,508,622 Equipment 6 4. 194,643 3,042,479,376 Total Expenses 39,693,561 28,658,915,692 1,259,511 901,272,031 Closing Balance 'Z,275 032 5 366 844 211 14,743 588 I O532 242 450 - ,,..., LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING -CREDIT 5610 MW AN D GRANT D045-M W RECEWTSANDPAYMENTACCOUNTFORTHEDES IG NATE DACCO UNT FOR THE PERIOD ENDED 30TH JUNE 2017 30th June 2017 30th June 2016 US $ US$ Receipts IDA Grant 32,210,520 16,000,000 Other Recei pts-1 nterest 14 492 3 098 Total Cash Received in yea r 32,225,012 16,003,098 Expenditure I. Goods, works, non-consulting services, co nsultants' services and Operational Costs for Part A . I of the Project 29,839,208 386 2. Goods, co nsultants ' services, Operational Costs and Training for Parts A .2 and A.3 of the Project 3,435 ,043 380,570 3. COMS IP Grants for Part A.2 (a) of the Project 1,346,609 462,057 4.Cash Transfer instalments for Part A.3(a) of the Project 2,002,9 14 404,697 5. Goods, non-consu lting services, consultants' serv ices, Training and Operational Costs for Parts B and C of the Project 2,852. 183 11 800 Total 39,475,957 1,259,511 Net Cash Movement (7,250,945) 14,743 ,588 Local Operating Acco unt 273 ,835 Advances to Councils 5,140,69 1 11 ,067,582 Opening Balance I July 20 16 3 676 005 Total Closing Balance (Designated Acco unt) J 839 S86 3.676 oos - LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING -CREDIT 5610 MW AND GRANT D045-MW NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30TH JUNE 2017 1. Nature of Business Through Credit no 5610-MW and Grant D045 under Additional Financing signed on 18th August 2015, the IDA has provided SDR52.8m (US$75million) to support implementation of Strengthening Safety Net Systems Project. The programme will run up to 30 1h June 2018. 2. Accounting Policies 2.1 Basis of preparing the Accounts: The financial statements have been prepared on the historical cost convention and on a cash basis in accordance with International Public Sector Accounting Standards (IPSAS). All receipts and expenses incurred in the period are reflected in the financial statements. 2.2 Fixed Assets Capital expenditures are capitalized in the year the assets are purchased. There is no provision for depreciation on the fixed assets throughout the Project life. 2.3 Grants to Local Assemblies Disbursements for Productive Public Works Programme, Livelihoods and Skills Development and Social Cash Transfer are done through tranches. Once disbursements to Local Assemblies are made, they are treated as Grants in the financial statements. 2.4 Foreign Currency Translation Foreign currency transactions for the income and expenditure account items and fixed assets are translated using the actual exchange rate at the date of draw down. All local expenditures paid from the local accounts/currency are translated back to US dollar at the actual exchange rate at which draw-down was converted at the date of transfer from Special/Designated account to local account. - 1 A LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING -CREDIT 5610 MW AND GRANT D045-MW NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2017 Where the expenditure cannot be fully met from the proceeds of a draw down, and part of the expenditure has to be met from the proceeds of the subsequent draw down, which may have been effected at a different conversion rate, the translation rate of the total expenditure from the local currency to the US dollar is on First in First out (FIFO) basis. Current assets and special/Designated account balances are translated using the rate at the closing date. (Closing Rate Method). 2.5 Receipts Receipts from Development Partners/Donors are stated at actual amounts drawn from the World Bank by way of replenishment into a Designated/Special Account at Reserve Bank of Malawi and direct payments. - LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING -CREDIT 5610 MW AND GRANT D045-MW NOTES TO THE FINANCIAL STATEMENTS CONTINUED 3- Cash Withdrawals from Credit Account Date Details US$ MK 9/26/2016 Transfer of fund s to MASAF IV Additional Fin FCDA 8,000,000 5,825,600,000 12/28/2016 Transfer of Funds from IDA to Standard Bank 12,000,000 8,688,000,000 2/ 17/2017 Transfer of Funds from IDA for MASAF 4 Add. Fin 12,2 10,520 8,968,626,99 1 Total Cash Withdrawals from Credit Financing Account Current Year 32,210,520 23,482,226,991 Total Cas h Withdrawals from the Financing Accounts Previous Year 16,000,000 11,432,000,000 Total Cash Withdrawal s from the Financing Accounts 48,210,520 34,914,226,991 Other Receipts Other Receipts 14,492 10,583,462 Total Other Receipts Current Year 14,492 10,583,462 Total Other Receipts Previous Year 3,098 2,221,481 Total Withdrawals 48,228 ,110 34,927 ,031,934 4 - Bank Balances US $ I Kwacha Opening Balances as at I July 2016 I RBM Holding Account (Part I) - - 2 MSB Operating Acco unt - - 3 Funds Drawn but not yet utilised+ Commitments 11 ,067,582 7,844,866,96 1 4 Designated Account -MASAF IV 3,676,005 2,688,082,4 89 Total 01>ening Balance as at I July 2016 14,743,588 10,532,949,450 Closing Balances as at 30 June 2017 I RBM Holding Acco unt (Part I) 28,897 16,583 ,617 2 MSB Operating Account 265 ,865 182,345,721 3 Funds Drawn but not yet utilised + Commitments 5, 140,691 3,772,3 07,680 4 Designated Accou nt -MASAF IV 1,839,586 1,395,607,193 Total closing Balance as at 30 June 2017 7,275,039 5,366,844,211 - LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -STRENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING -CREDIT 5610 MW AND GRANT D045-MW NOTES TO THE FINANCIAL STATEMENTS CONTINUED S - Productive Safety Nets, Systems and Capacity Building and Project Management US$ I Kwacha Public Works S ubprojects Disbursements to Sub Projects-Public Works Programme(MASAF IV) 27,3 19,243 19,659,447,538 Disbursements to Sub Projects-Savings and Investment - - Total charn:ed to PWSB (Cate1rnrv I ) 27,319 243 19,659 447.538 Add from previous years 3 19 227,658 Balance Carried forward 30 June 2017 21,319,562 I 19,659,675,196 Social Cash Transfer Disbursements for Social Cash Transfer(MASAF IV) 2,633 ,845 1,909,248,9 17 Total charl!ed for SCT (Catel!orv 2 & 4) 2,633,845 1,909,248,9 17 Add from previous years 7 18,379 5 13,28 1,648 Balance Carried forward 30 June 2017 3,352,224 I 2,422 530.565 Livelihoods and S kills Development 2,555 ,547 1,866,953 ,09 1 Total charged to CMSP (Catel!orv 2&3) 2,555,547 1,866,953,091 Add fro m previous years 528,946 379,254, 104 Balance Carried forward 30 June 2017 3,os4 493 I 2 246,207,195 local capacity Enhancement (LACE) 1, 166,015 850,426,66 1 Di sbursements to Local Capac ity Enhancement(LACE)(MASAF IV) - - Total charl!ed to LACE (Catel!orv 5) 1, 166,015 850,426,661 Add from previous years - - Balance Carried forward 30 Jun e 2017 1,166,015 I 850,426,661 - , ,., Proiect Management Proj ect Management(MASAF IV) 1,824,268 1,330,360, l 09 Total charged to Project Management (Category 5 ) 1,824,268 1,330,360,109 Add from previous years 11 ,867 8,508,622 Balance Carried forward 30 June 2017 1,836 13s I J,338,868, 731 Grand Total for Sub Grant Investments 36,758 429 26,517,708,347 6 - Fixed Assets MOTOR VEHICLES US$ MK Balance B/Forward 1 July 20 16 Additions during the year 3,0 17,034 2,180,998, 144 Disposals during the year Balance C/Down 30 June 2017 3,017,034 2,180,998,144 COMPUTERS US$ MK Balance B/Forward 1 Jul y 20 16 Additions during the year 432,894 317,333,2 17 Di sposals during the year Bal ance C/Down 30 June 2017 432,894 3 17,333,217 OFFIC E EQ UIPMENT I US$ MK Balance B/Forward 1 July 20 16 - - Add itions during the year 744,715 544, 148,015 Disposals during the year - - Balance C/Down 30 June 2017 744,715 544,148,015 Total Movement for ear 4,194,643 3,042,479,376 Clo sin Balance as at 30 June 2017 4,194,643 3,042,479,376 18 7 - Funding by Donors World Bank Drawini:,s US$ I Kwacha Grant 0450 -MW 32,210,520 23 ,482,226,99 1 Sub Total 32,210,520 23,482,226,991 Previous year Credit 5610-MW 16,000,000 11 ,432,000,000 I Total Credit I 48,210,520 34,914,226,991 + Total Drawines for Twelve months period to 30 June 2017 32,210,520 23,482,226,991 Total Drawi112s (Cumulative) as at 30 June 2017 for Credit 48,210,520 34,914,226,99 I 8.0 Cashflow Statement The financial statements as at 3oth June 201 7 do not include the Statement of Cash flow because the information contained in the Statement of Receipts and Payments is similar to that in the Cash Flow Statement due to fact that no provisions have been made and does not contain cash equivalents. LOCAL DEVELOPMENT FUND (LDF) MASAF 4 -ST RENGTHENING SAFETY NET SYSTEMS-ADDITIONAL FINANCING -CREDIT 5610 MW AND GRANT D045-MW AN EX I: DESIG NATE D ACCOUNT MOVEMENTFOR THE PERIOD TO 30 JUNE 2017 Description Date US$ MK Rate Opening Balance I-Jul-16 3,676,005.22 2,688,082,489.46 Bank Charges for July 20 16 by M7-EC33 18 Standard Bank-US$3 .38 7/ 12/20 16 (3.38) (2,451.18) 725.20 30% PWP Emergency Fund ing for M7-P lNST9 Neno District Counci l-Payment Instruction No. 9 7/2 1/20 16 (2,975 ,525.00) (2, 157,850,730.00) 725.20 Bank Transfer Charges for M7-MWOl66 US$2,975,525 .00 by Standard Bank- US$60.00 7/21/20 16 (60.00) (43,5 12.00) 725.20 Ju ly 20 16 FCDA Interest from M7-EC40 18 Standard Bank-US$865.39 7/31/20 16 865.39 627,580 .83 725.20 July 20 16 WT AX on FCDA Interest- M7-WTXJL Standard Bank-US$ I 70.32 7/31/20 16 ( 170.32) (123,5 16.06) 725 .20 Advance to COMS IP-Standard Bank- M7-P INSTIO US$327,795.50-Payment Instruction No. 10 8/3/2016 (327,795 .50) (238,913 ,750. 18) 728.85 Bank Transfer Charges for M7-CT l 6216 US$327,795.50 by Standard Bank- US$60.00 8/3/20 16 (60.00) (43,73 1.00) 728.85 Transfer of funds from Std Bank FCDA US$370,000 to Holding M7-P INSTI I acco unt at RSM-Payment Instruction No. II 8/18/20 16 (370,000.00) (269,434,000 .00) 728.20 Bank Transfer Charges for M7-BNKTRSC US$370,000 to Holding Account- Standard Bank-US$60 8/18/20 16 (60.00) (43 ,692.00) 728.20 August 20 16 Bank Charges by M7-BNC228 Stand ard Bank-US$3.34 8/22/20 16 (3.34) (2,432. 19) 728.20 August 2016 Bank Interest from M7-AUGBI T Standard Bank-US 154.84 8/31/20 16 154.84 112,754.49 728.20 August 2016 WHT on Bank Interest- M7-AUBWHT Standard Bank-US$2 8.22 8/31/20 16 (28.22) (20,549 .80) 728.20 Receipt of funds from IDA after M7-IDA2RC transfer charges-US$7,999,993 9/26/2016 7,999,993 .00 5,825 ,594,902.60 728.20 September 20 16 Bank In terest for M7-SPBINT FCDA at Standard Bank-US$329.03 9/30/20 16 329.03 239,599.65 728.20 WHT on Bank Interest for September M7-SPWHT 20 16-Standard Bank-US$63 .06 9/30/20 16 (63.06) (45,920.29) 728.20 COMSIP Corporate-US$619,775 . 12- M7-P INSTl2 Payment Instruction No. 12 I 0/19/20 16 (6 19,775. 12) (446,238,086.40) 720.00 Toyota Malawi Lim ited- M7-PINSTl3 US$ I ,85 I ,325-Payment Instruction No. 13 I 0/19/20 16 (1 ,851,325.00) ( 1,332,954,000.00) 720.00 Transfer Charges for US$619,775.12- M7-TRSFR C COMS IP- US$60.00 I 0/19/20 16 (60.00) (43 ,200 .00) 720.00 Transfer Charges for US$ I ,85 I ,325- M7-TRSFRC Toyota Malawi Ltd-US$60.00 I 0/19/20 16 (60.00) (43 ,200.00) 720.00 Transfer Charges fo r US$3 ,460-PAF- M7-TCPAF US$60.00 I 0/26/20 16 (60.00) (43,200 .00) 720.00 Public Affairs Foundation-Payment M7-PINST14 Instruction o 14-US$3 ,460 I 0/26/20 16 (3 ,460.00) (2,49 1,200.00) 720.00 ,., (\ October 2016 Interest on FCDA- M7-0CTD INT Standard Bank-US$2, 169.45 l 0/3 1/20 16 2, l 69.45 1,579,793.49 728.20 October 2016 WHT on Interest on M7-0CTWHT FCDA-Standard Bank-US$43 l . l 3 10/3 1/2016 43 I. 13 313 ,948.87 728.20 October 2016 Bank Charges by Standard M7-BC2 l l 16 Bank-US$3.34 11 /2/20 16 (3 .34) (2,432. 19) 728.20 Transfer of US$500,000 from Standard M7-PINST 18 Bank FCDA Account-Payment Instruction No. 18 11 /18/20 16 (500,000.00) (362,000,000.00) 724.00 Standard Bank Transfer Charges for M7-TRSFCG US$500,000 .00-US$60.00 11 / 18/20 16 (60.00) (43 ,440 .00) 724.00 Bank Charges on theTransfer of M7-0T l 6323 US$94,326.98 by Standard bank- US$60.00 11/18/20 16 (60.00) (43,440.00) 724.00 Thengo In vestments- Purchase of M7-PINST 16 80Wbcams,80 Barcode Readers & 80 S/Prt Pymnt Inst No. 16-US$60,7 10.56 11 /18/20 16 (60,7 10.56) (44,318,708.80) 730.00 Funds for Safety Net Planning for 7 Urban M7-PINST15 Counci l-Payment In struction No. 15 11 / 18/20 16 (94,326.98) (68,858,702.00) 730.00 Social Cash Transfer Fu nds for Dedza & M7-PINST17 Nkhatabay Districts-Pymnt Instruction No . 17-US$478,501.38 11 /18/20 16 (478, 501.38) (346,435,000 .00) 724.00 ovem ber 20 16 Interest on FCDA- M7-NOV !NT Standard Bank-US$1,565.44 11 /30/20 16 1,565.44 1, 133,378.56 724.00 November 2016 FCDA WHT on Interest- M7-NOVWHT Standard Bank-US$3 I 0.36 11 /30/20 16 (3 I 0.3 6) (224,700.64) 724.00 Nove mber 2016 Bank Charges by M7-EC9726 Standard Bank-US$6 .64 12/6/20 16 (6.64) (4,807.36) 724.00 Standard Bank Transfer Charges for M7-TRSCG US$528,950.00-US$60.00 12/20/20 16 (60.00) (43 ,440.00) 724.00 Standard Bank Transfer Charges for M7-T RSFCDC US$3 ,059 ,3 97. 79-US$60. 00 12/20/20 16 (60.00) (43,440.00) 724.00 Pu rchase of 4 Toyota Hilu x 2KD 2.5L 4 M7-PI NST 19 BY 4 D/Cab from Toyo ta Malawi Limited-Pymnt Instr No. 19 12/20/20 16 (229,692.36) ( 166,297,268.64) 724 .00 Purchase of IO Toyota Land Cruisers 4X4 M7-P INST20 S/Wagon from Toyota Malawi Ltd-Pymnt Inst No.20-US$528,950 12/20/20 16 (528,950.00) (382,959,800.00) 724.00 Funds for Public Works for 9 Councils- M7-PI NST21 Pay ment Instr No . 2 1 12/20/20 16 (3 ,059,397.79) (2,2 15,004,000.00) 724.00 Standard Bank Transfer Charges for M7-21DECTC US$229,692.36-US$60.00 12/2 1/20 16 (60 .00) (43,440.00) 724.00 Receipt of Funds from IDA after Transfer M7-DECRCPT Charges for US$12,000,000.00-Standard Bank-US$ 11 ,999,993 12/28/20 16 I 1,999,993 .00 8,687,994,932.00 724.00 December 2016 Interest on FCDA - M7-DECINT Stand ard Bank-US$ 134 1. 99 12/3 1/20 16 1,34 1.99 97 1,600.76 724.00 December 20 16 FCDA WHT on Interest- M7-DECWHT Stand ard Bank-US$265.65 12/3 1/20 16 (265.65) ( 192,330.60) 724.00 Transfer of Funds to RBM Ho ldi ng- M7-PINST23 US$330,000 .00-Payment Instruction No. 23 1/6/20 17 (330,000.00) (239,250,000.00) 725.00 Stand ard Bank Transfer Charges for M7-JNTSFRC US$6,283 ,663 .45 -US$80 .00 1/6/2017 (80 .00) (58,000.00) 725 .00 Stand ard Bank Transfer Charges for M7-J AN6TSF US$246,07 1.56-US$80.00 1/6/20 17 (80.00) (58,000 .00) 725.00 Standard Bank Transfer Charges for M7-JNTRSFC US$330,000.00-US$80.00 1/6/20 17 (80 .00) (58,000.00) 725.00 PWP Funds for 17 Councils-Paymen t M7-P INST22 Instruction No. 22 1/6/20 17 (6,283 ,663.45) (4,555,656,000 .00) 725.00 Funds for SCT Harmised Data Co lletion, M7-PINST24 Targeting and DTT Trng for 3 Cou nci ls- Pinst 24 1/6/2017 (246,071.56) ( 178,401 ,884.00) 725.00 December 2016 Bank Charges by M7-ECD EC 16 Standard Bank-US$6.64 1/9/20 17 (6.64) (4,8 14.00) 725 .00 "1 December 2016 Exchange Ctrl Charges by M7-ECI0508 Standard Bank-US$3 .32 1/9/2017 3.32) (2,407.00 725.00 Bank Charges During transfer of funds- EC0 103 170 1 Standard Bank-U S$ I 4.29 1/10/20 17 ( 14.29) ( 10,360.25) 725.00 Fund s for COMSIP-Standard Bank-Payment M7-P INST25 Instruction No. 25 1/19/20 17 (635 ,307.16) (465 ,426,025.42) 732.60 TRSFERFEE Funds Transfer Fees-Standard Bank-US$3.55 1/19/20 17 (3.55) (2,600.73) 732.60 Transfer of Funds to RBM Holding Accou nt- M7-PINST27 Standard Bank-US$300,000-Payment Instruction No. 27 1/19/2017 (300,000.00) (219,780,000 .00) 732.60 Bank Transfer Charges by Standard Bank- TRSFCHGS US$3.55 1/19/2017 (3 .55) (2,600.73) 732.60 Transfer of Funds to RBM Holding Account- M7-PINST26 Standard Bank-US$400,000-Payment Instruction No. 26 1/20/2017 (400,000.00) (293 ,800,000.00) 734.50 Fund s for Zomba District and Zomba City M7-PINST28 Cou ncils-Payment Instruction No . 28 1/26/2017 (1 ,002,379.92) (734,544,000.00) 732 .80 Bank Transfer Charges for US$ I ,002,379.92- TRSFCGS Standard Bank-US$80 1/26/20 17 (80.00) (58,624.00) 732 .80 Funds for Productive Public Works for M7-PINST29 RUD,LUMUN & NED Councils-Payment Instr No. 29 1/30/2017 (948,295.68) (694,674,000.00) 732.55 Fund s Transfer Charges for th e transfer of TRSCGS US$948,295.68 -Standard Bank-US$80 1/30/20 I 7 (80.00) (58,604.00) 732.55 Fund s for Productive Public Works for M7-PINST30 PED,CPD,KUMUN,MHT Councils-Payment Instruction No . 30 1/30/2017 (947,681.39) (694,224,000.00) 732.55 Bank Transfer Charges for US$647,68 I .39 by TRSCHGS Standard Bank-US$80 1/30/2017 (80.00) (58,604.00) 732.55 Standard Bank January 20 17 Interest on JANl71NT FCDA-US$2014.22 1/31/20 I 7 2,0 14.22 I ,4 79,444.59 734.50 January 2017 WHT on Interest-Standard JANWHTINT Bank-US$402 .84 1/31/2017 (402.84) (295,885 .98) 734.50 Bank Transfer Charges for the transfer of BTCHGS US$477, I 89 .93-US$80-Standard Bank 2/3/2017 (80.00) (58,760.00) 734.50 Bank Transfer Charges for the transfer of B KTCHGS US$363 ,683.50-US$80-Standard Bank 2/3/2017 (80.00) (58,760.00) 734 .50 Exchange Control Transfer Charges during BNKTCG funds transfer US$45.59-Standard Bank 2/3/2017 (45.59) (33,485 .86) 734.50 Regu lar PWP Funds for Neno District M7-P INST31 Cou ncil-Payment Instruction No. 31 2/3/20 I 7 (477, 189.93) (350,496,000.00) 734.50 Regular Public Works Funds for Chikhwawa M7-PINST32 District Council-Payment Instru ction No. 32 2/3/2017 (426,548.44) . (312,660,000.00) 733.00 Regu lar Public Works Funds for Lilongwe M7-PINST33 City Council-Payment Instruction No . 33 2/3/2017 (363,683.50) (266,580,000 .00) 733.00 Exchange Control Charges during transfer of EC0708/17 funds-US$4 .76-Stand ard Bank 2/7/2017 (4. 76) (3 ,496.22) 734.50 Exchange Control Charges during transfer of EC07 I 7/ l 7 funds -US$4.76-Standard Bank 2/7/2017 (4 .76) (3,496.22) 734.50 Bank Transfer Charges during transfer of EC0908/17 funds -US$ I 4.29-Standard Bank 2/15/2017 ( 14.29) ( I 0,496.00) 734.50 Receipt of funds from JOA after Bank ITI 7047 Transfer Charges-US$ 12,210,513 .07 2/17/20 I 7 12,210,513.07 8,968,62 I ,849 .92 734.50 Transfer of Funds to MASAF 4 Additional M7-PINST34 Financing Holding Account-US$700,000.00- Pay ment Instr No. 34 2/24/2017 (700,000.00) (512,820,000 .00) 732.60 ,..,,.., February 20 17 Interest on FCDA-Standard FEBCRINT Bank-US 1,454.39 2/28/20 17 1,454.39 1,065,486. 11 732.60 WHT On February 20 17 Credit Interest - FEBWHTOINT Standard Bank-US290.88 2/28/20 17 (290 .88) (2 13,098.69) 732.60 Funds Transfer Fees-US$ I 2.06-Standard B KFEE03 Bank 3/2/20 17 ( 12.06) (8 ,835. 16) 732.60 Funds Transfer Charges-US$80.00- B KTRSCHG Standard Bank 3/2/20 17 (80.00) (58,608.00) 732.60 Funds Transfer Charges for B KTRSFCHG US$522,0 I 3.87-US$80.00-Standard Bank 3/2/20 17 (80.00) (58,608.00) 732 .60 Emergency PWP Funds for LLC, CZD, M7-PINST35 NND, and CKD -Payment Instruction No. 35 3/2/20 17 (634,545.46) (464,868,000 .00) 732.60 Tuition Fees for World Bank Social Safety Nets Core Course for M7-PINST36 MUnd i,MBonomali & MChiwanda- PI NST 36 3/2/20 17 (7,500.00) (5 ,494,500.00) 732.60 SCT Funds for Karo nga,Nkhotakota,Blantyre & M7-PINST39 Nkhatabay District Counci ls -Payment Instruction No . 39 3/2/20 17 (522,0 13.87) (382 ,583 ,962 .00) 732 .90 Kasungu, Lilongwe & Dowa District M7-PINST37 Counci ls SCT Preparatory Fu nds- Payment Instruction No.37 3/2/20 17 (599,7 19.27) (439,564,237.00) 732.95 Social Cash Transfer Fun ds for Dedza M7-PINST38 Distrcict Council-Payment Instruction No . 38 3/3/20 17 (586,484.6 1) (429,84 1,900 .00) 732.9 1 Funds Transfer Charges for TRSFCG US$7,500 .00-US$80.00-Standard Bank 3/6/20 17 (80.00) (58,608.00) 732.60 Funds Transfer Charges for TSFRCHG US$407 ,066.86-US$80 .00-Standard Bank 3/6/20 17 (80.00) (58,608.00) 732.60 Fu nds Transfer Charges for OTl7079 US$3 96,353 .62-US$80. 00-Standard Bank 3/20/20 17 (80.00) (58,608.00) 732.60 Funds Transfer Charges for OT 17079 10 US$328, I 9 I .55-US$80 .00-Standard Bank 3/20/20 17 (80.00) (58,608 .00) 732.60 Fu nds Transfer Fees-US$ I 9.05-Standard EC l 560 Bank 3/20/20 17 ( 19.05) ( 13,956 .03) 732.60 Funds Transfer Fees-US$45.59-Standard 07 170790 Bank 3/20/20 17 (45. 59) (33,399.23) 732 .60 Purchase of 71 Yamaha XTZ 125 E Motor M7-PINST40 Cycles from Stansfield Motors-Payment Instr No . 40 3/20/20 17 (407,066 .86) (298 ,787,075. 12) 734.00 PWP Preparatory Funds for Karonga, M7-PINST41 Mul anje and Mangochi District Councils- Pay ment Instruction No. 4 1 3/20/20 17 (396,353.62) (290,527,200.00) 733 .00 PWP Funds for Ntcheu D istrict Counci l- M7P INST42 Payment Instructio n No. 42 3/20/20 17 (328, 19 1.55) (240,564,400 .00) 733 .00 Standard Bank Interest for FCDA for M7-B l3 1317 March 20 I 7-US$2,909.94 3/3 1/20 17 2,909 .94 2, 13 1,822 .04 732.60 WHT on March 20 17 Standard Bank M7-WT31317 Interest for FCDA-US$58 I .99 3/3 1/20 17 (58 1. 99) (426,365.87) 732.60 Transfer of US$900,000 .00 to RBM M7-PINST43 Ho lding Account-Payment Instruction No. 43 4/4/20 17 (900,000.00) (660,240,000 .00) 733.60 Transfer Charges for US$900,000- M7-Pl43TRS Standard Bank-US$80.00 4/4/20 17 (80.00) (58,688 .00) 733.60 Transfer Charges for US$ I 04, 11 7 . 17 by M7-Pl45TRC Standard Bank-US$80 4/13 /20 17 (80.00) (58,624 .00) 732.80 Transfer Charges for US$307,286.26 by M7-P l44TRC Standard Bank-US$80 4/13 /20 17 (80.00) (58,656.00) 733 .20 "'.., Supplementary & Quarterly Funding for M7-P INST45 UBR Ro llout for NS,RU & CZ Dist Councils SCT-Pymnt Instr No.45 4/13 /20 17 ( 104, 117. 17) (76,297,059 .00) 732 .80 Pu rchase of 70 Desktops, 70 Laptops,5 5 M7-PINST44 Printers,255 Tablets& 255 USB Btry Chgr-Techno World-Pi nst 44 4/13 /20 17 (307,286.26) (225,302,285.83) 733.20 Transfer Charges for US$4 I 9,959.76 by M7P I46TRC Standard Bank-US$80 4/18/20 17 (80.00) (58 ,640.00) 733.00 Transfer Charges for US$ I 66,979.76 by M7-PI47TRC Standard Bank-US$80 4/18/20 17 (80.00) (58,624 .00) 732 .80 Funds for Nkhatabay Distrcict Counci l M7-PINST46 SCT fo r March and April 20 I7-NLGFC- P mnt Inst No.46 4/18/20 17 4I9,959.76 307,830,500.00 733.00 Provision of Networking Services for M7-PINST47 CZ, KK,RU ,and KA-AH Networks- Pymnt Inst No . 47 4/18/20 17 ( I66,979.76) (122,362,767 .03) 732.80 Exchange Control Charges for funds M7EC2042I7 transfers by Standard Bank-US$4.76 4/19/20 17 (4.76) (3 ,49 1. 94) 733.60 Apri l 20 17 Standard Bank Credit Interest M7AP 17B lNT -US$2, 159.72 4/30/20 17 2, 159.72 1,584,370.59 733.60 WHT on April 20 17 Stand ard Bank M7AP INTWHT Cred it Interest -US$43 1. 94 4/30/20 17 (43 1. 94) (3 16,871. 18) 733.60 Capacity Building and Investments M7- PINST48 Advances to COMS IP-Payment Instruction No. 48-Std Bank 5/8/20 17 (672,565. 13) (49 1,779,6 15.91) 73 1. 20 Transfer Charges for US$672,565. 13 by M7-P I48TRC Standard Bank-US$80.00 5/8/20 17 (80.00) (58,496 .00) 731.20 Stand ard Bank Exchange Co ntrol M7-FRXC Charges on transfer of US$672,565 . 13 - US$9.53 5/12/20 17 (9.53) (6,968.34) 731.20 Stan dard Bank Forex Charges on transfer EC2763 / 17 of US$672,565. l 3 -US$4.76 5/ 18/20 17 (4.76) (3 ,480.5 1) 73 1.20 Funds Fo r Regular & Emergency Pub lic M7-PINST49 Wo rks for MN,KA,MH.MJ & NU Dist Co un cils-Payment Instr No. 49 5/26/20 17 (1 ,849,504.34) (1,345,5 14,400 .00) 727.50 Transfer charges fo r US 1.849,504.34 By M7-FLM056 Standard Bank-US$80.00 5/26/20 17 (80.00) (58,200.00) 727.50 May 20 17 Interest o n FCDA by Standard M7-315 17Bl Bank-US$ l 776 .87 5/3 1/20 17 1,770.92 1,299,146.91 733.60 WHT on May 20 17 In terest on FCDA- M7-WT31517 Standard Bank-US$35 5.38 5/31/20 17 (354. 19) (259,833 .78) 733 .60 Exch Contro l Charges by Standard Bank- M7-EC3171 US$4.76 6/5/20 17 (4 .76) (3,451.00) 725.00 Transfer of US$900,000.00 to RBM M7-P INST50 Ho ld ing Account-Payment Instruction No . 50 6/6/20 17 (900,000.00) (652,500,000.00) 725.00 Funds fo r Beneficiary Targeti ng & M7-P INST5 1 Enro ll ment- For IO Dist Counci ls SCT- Pinst 5 1 6/6/20 17 (6 15,648.46) (446,345, 130.00) 725.00 Transfer charges fo r US900,000.00 by M7-CC 1482 Standard Bank-US$80.00 6/6/20 17 (80.00) (58,000.00) 725.00 Transfer charges fo r US$6 15,648.46 By M7-CC l481 Standard Bank-US$80.00 6/6/20 17 (80.00) (58,000.00) 725.00 Transfer charges fo r US 13,838.00 By M7-0T 17 157 Standard Bank-US$80.00 6/7/20 17 (80.00) (58,000.00) 725.00 Provide Data Analysis Plan & M7-PINST52 Framework for CRC Consu ltancy-Pub lic Aaffairs Foundation-Pym nt Inst 52 6/7/20 17 (13,838.00) ( I 0,032,550.00) 725 .00 Exchangee Contro l charges By Standard M7-EC3488 Bank-US$14.29 6/13 /20 17 ( 14.29) ( 10,360.25) 725 .00 Transfer charges fo r US$46,042.49 By M7-0T17 166 Standard Bank-US$80.00 6/15/20 17 (80.00) (58,000.00) 725 .00 Transfer charges fo r US$4 I 9,839.98 By M7-CCI590 Standard Bank-US$80 .00 6/ 15/20 17 (80.00) (58,000.00) 725 .00 Operational Funds for Ministry of M7-P!NTS53 Gender, Children, Disability & Social Welfare-Pi nst 53 6/15 /20 17 (46,042.49) (33 ,541 ,950.00) 728.50 Funds for Nkhatabay & Dedza Distrcict M7-P INST54 Co uncils SCT Beneficari es-Payment Instruction No. 54 6/15/2017 (419,839.98 ) (306,693 , I 00.00) 730.50 June 20 17 FCDA Interest by Standard M7-307 I 7BN Bank-US$733.34 6/30/20 17 733.34 53 1,671.50 725.00 WHT on June 2017 FCDA Interest- M7-WT3 1617 Standard Bank-US$ I 46.67 6/30/2017 (146.67) ( 106,335.75) 725.00 Closing Balance 1,839,586.15 1,395,607,193.27 758.65 Closi ng Rate 758.65 1,395,607,193.27 Exchange Diff Previous year's Net Movement for the current ear ANNEX II - FUNDING TO COUNCILS PWP FUNDING TO COUNCIL FOR THE FINANCIAL YEAR 2016/17 PWP FUNDING TO COUNCIL FOR THE FINANCIAL YEAR 2016/17 Funding from Funding from Number Council Original Additional Financing Financing Tota l Funding Balaka District Council 688,851,790 688,851,790 2 Blantyre District Counci l 448,309,773 448,309,773 3 Blantyre City Council 569,897,231 569,897,231 4 Chitipa District Council 68,570,793 244,890,000 313,460,793 5 Chiradzulu District Council 427,645 ,741 427,645 ,741 6 Chikwawa District Council 13 1,3 15,807 468,990,000 600,305,807 7 Dedza District Council 684,655 ,518 684,655 ,518 8 Dowa Di strict Council 429,577,936 429,577,936 9 Karonga District Council 121 ,6 14,875 434,340,000 555,954,875 10 Kasungu District Council 98,585 ,822 352,080,000 450,665 ,822 11 Kasungu Municipal Council 8,244,035 37,679,720 45 ,923,755 12 Likoma District Council 7,836,058 28,890,000 36,726,058 13 Lilongwe District Council 86 1, 169,598 861 ,169,598 14 Lilongwe City Council 523,5 17,480 523 ,517,480 15 Lucheza Municipal Council 13,364,241 55 ,268,500 68,632,741 16 Mangochi Di strict Council 700,229,239 700,229,239 17 Machinga District Council 706,822,405 706,822,405 18 Mangoch i Town Council 83 ,656,467 83 ,656,467 19 Mchinji District Council 398, 153,262 398,153 ,262 20 Mulanje District Council 131,944,946 47 1,240,000 603,184,946 21 Mwanza Di strict Council 23 , 102,680 82,782,000 I 05,884,680 22 Mzimba (M'mbelwa) District Council 128,393 ,600 458,550,000 586,943 ,600 23 Mzuzu City Council 65,2 15,391 242,307, 132 307,522,523 24 Neno District Council 245,306,768 245 ,306,768 25 Nkhatabay District Counci l 69,643 ,386 248,724,000 3 18,367,386 26 Nkhotakota District Counci l 101 ,643,802 363,006,000 464,649,802 27 Nsanje District Council 11 3,553,248 405,540,000 519,093,248 28 Ntchisi District Council 3 12,563,047 312,563 ,047 29 Ntcheu District Council 439,802,495 439,802,495 30 Phalombe District Council 101,090,384 36 1,044,000 462, 134,384 31 Rumphi District Council 67,590,394 24 1,398,000 308,988,394 32 Salima District Council 708, 181 ,029 708, 181 ,029 33 Thyolo Di strict Council 7 16,479,852 7 16,479,852 34 Zomba District Council 642,608,317 642,608 ,317 35 Zomba City Council 307,864, 132 307,864,132 Total 1,251,709,462 14,392,021 ,432 15,643 ,730,894 FUNDING TO COUNCILS SOCIAL CASH TRANSFER (SCT) FUNDING TO COUNCILS FOR THE FINANCIAL YEAR 2016/ 17 Funding from Fund in g from Number Council Original Additional Financing Financing Total Funding I Blantyre District Council SCT 110,512,291 110,5 12,291 2 Chiradzulu District Council SCT I 09,940,799 109,940,799 3 Dowa District Council SCT 176,356,059 176,356,059 4 Dedza Distrcic Council SCT 259,788 ,500 1, 110,966,750 1,370,755 ,250 5 Karo nga District Council SCT 101 ,583,556 101 ,583 ,556 6 Nkhotakota District Council SCT 103,400, 175 I 03 ,400, 175 7 Kasungu District Council SCT 211 ,608,350 211 ,608 ,350 8 Lilongwe District Council SCT 316,782,518 316,782,518 9 Nkhatabay District Council SCT 9 1,272,000 455,787,250 547,059,250 10 Ntchisi District Council SCT IO 1,909,214 IO 1,909,214 11 Ntcheu District Council SCT 26,4 11 ,230 26,4 11 ,230 12 Rumphi District Council SCT 88,734,580 88,734,580 Total 351,060,500 2,913,992,772 3,265,053,272