No.KST/CO/ACC/BS/GEF /2019-20 Dated. 17.07.2019 Sri Sharma I,C, National Project Manager, Sustainable Urban Transport Project, (Min of Urban Development), Gr. Floor, (Behind Axis Bank), NBO Building, G- Wing, Nirman Bhawan, Maulana Azad Road, New Delhi - 110 011. Sir, Sub: Project SUTP- ITS/IES - Mysore City - Submission of Audit Report for FY 2018-19. With reference to the above subject, please find enclosed herewith the Audit Certificate issued by Accountant General (Economic and Revenue Sector Audit), Karnataka, Bangalore on Annual Project Financial Statements for the year 2018-19 ending on 31-03-2019, in respect of Project ITS/IES funded by SUTP-GEF, implemented by KSRTC at Mysore city. With regards, K Yours faithfully, Encl: As. above. Chief unts Officer cu&jF.A. Copy fwcs to the Chief Mechanical Engineer (M) and HE IU T SMysore City, K.S.R.T.C. Central offices, Bangalore for information. K.S.R.T.C. CENTRAL OFFICES BANGALORE ANNUAL FINANCIAL STATEMENTS FOR YEAR 2018-19 Project ITS/IES FUNDED BY SUTP-GEF Format No-1 Statement of Sources and Application of Funds (Amount in Rs.) Current FY 2018- Cumulative for Particulars 19Upto FY 201 7-18 thprjc 19 the project Source of funds: Opening Balance 5,58,49,108 World Bank funds - Loan (A) World Bank funds - GEF (B) 1,07,44,000 12,92,01,000 13,99,45,000 Government funds- Centre (C) 11,76,00,000 11,76,00,000 Government funds- State (D) 1,47,00,000 1,47,00,000 Funds from Implementing agencies (E) 30, 11,077 2,45,91,562 2,76,02,639 Deposit from M/s TCS Ltd. (EI) - 1,46,28,819 1,46,28,819 - Total Sources - Sum (A to EV) 1,37,5SiOTR 0 i2,381 -31,44,76,458 G-n=du-Sucsof Fund ti6,04-405 Application of funds: Component 1A- National initiatives (F) Component 1B-CDA for SUTP cities (G) Component 2-Demonstration Project in cities (H) 1,99,20,396 24,48,72,273 26,47 92,669 Component 3- Project Management in MOUD (1) Total Applications J=Sum(F to 1) 1,99,20,396 24,48,72,273 26,47,92,669 Refund of Bid Secuirty and others (K) Cash At Bank L 4,96,83,789 5,58,49,108 4,96,83,789 TtlAplicatin JKL ,60,8 30,07,21,381 S Head PIU Pr & TP-EF& Chief Mechnical ,7ijtc Engineer(M) vChi f ounts Officer 6F.A. Notes: This financial statement is prepared on cash basis of accounting as per provisions of the Financial ules and codes applicable. K.S.R.T.C. CENTRAL OFFICES BANGALORE - 560 027 SUTP-GEF STATEMENT OF SOURCES AND APPLICATION For the Year Ending 31st March 2019 Name of the City: Mysore Name of the PIA: K.S.R.T.C. Amount Rs. in Million Own GEF f GEFtlaMable- GOI State GEF Total D u ea n - contribution Disbursement mount, A. SOURCES OF FUNDS Opening Balance ___ 15.64 - 34.23 5.98 55-85 N.A. Receipt during the period - 3.01 10.74 13.75 Total Sources (A) 15.64 - 37.24 16.72 69.60 B USES OF FUNDS I Projects Funded by Bank Project Name:1. ITS Improvements on existing buses Category - Goods for ITS -Simulator - 0.01 6.33 6.34 100% 6.33 Category- Consultant Services & Training 1) TA for ITS application in Transit operations 73% - 2) M & E 1.13 0.01 3.06 4.20 73% 3.06 3) Public Outreach 0.50 1.35 1.85 73% 1.35 Total of Projects Funded by Bank (i) 1.63 1.0.02 10.74 12.40 10.74 II. Project Not Funded by Bank a) Category - Goods for ITS 7.19 0.33 - 7.52 b) Category - Consultant Services & Training -ITS 1. Project Preliminary & Project Operative Cost 2. PMC Charges 3. Consultancy Charges for DPR RFP & Tender Evaluation c) Innvovative Environoment Projectjc-- Total Not Funded by World Bank (ii) 7.19 - 0.33 - 7.52 C Total C(i+ii) 8.82 - 0.35 10.74 19.92 D Advances to suppliers - - E Refund F Total Uses (F= C+D+E) 8.82 - 0.35 10.74 19.92 G Balance (G= A-F) 6.82 - 36.89 5.98 49.68 Notes: 1. This financial statement is prepared on cash basis of accounting as per provisions of the Financial Rules and codes applicable. 2 Closing Balance Consist of Cash at Bank Rs. 11.18 Million and Fixed Deposit Rs. 38 50 Million : Total Rs. 49.68 Million. 3. Interest received during the year amounting to Rs. 2.81 Million (net of TDS) has been included in Own Contribution. 4. TOS by the Bank on interest earned is not accounted since the books are maintained on cash basis of Accounting and refund is yet to be received. The same will be accounted on receipt basis. (The total amount of TDS is Rs. 1.91 million as on 31-03-2019) 5. Own contribution inculdes an amount of Rs. 14.63 Million in resepct encashment of Bank Guarntee given by M/s TCS Ltd. towards Liquidated Damages. The process of arbitration is under progress. 6. The Fund Balance held under the project Accounts as on 31-03-2019 will be utilized for the settlement of exisitng contractual commitments, discharge of liability that may arise in the case of Liquidated damages under arbitratoin and future expenses required for operatoin and maintainance of the project ITS. Head PlU Project SU cal Engineer(M) Chie±counts Officer F.A. K.S.R.T.C. CENTRAL OFFICES BANGALORE ANNUAL FINANCIAL STATEMENTS FOR YEAR 2018-19 PROJECT ITS -FUNDED BY SUTP- GEF List of Claims submitted to World Bank Application Amount Claimed Date Of Application Number Year Period (Rs.) 14-08-2018 IUFR Q1 2018-19 91 Apr2018 to 1,07,64,502.96 Aug-2018 Total 1,07,64,502.96 Head PIU Project SUTP EF & ei Chief Mechnical Engineer(M) V1T#q kmT ffr * Wf fcowm tgl1WUl WIWh (.ws t Indian Audit And Accounts Department Office of the Accountant General (E & RSA) Karnataka. No.AG(E&RSA)/ES-II/TS/2019-20/D-7 5 Dated:A2. July 2019 To /219 a The Managing Director, Karnataka State Road Transport Corporation, Central Offices, Shanthinagar, Bengaluru-560027. Sir, Sub: Issue of Audit Certificate for the year 2018-19 in respect of World Bank Assisted Intelligent Transport System (ITS)/Innovative Environment Project (IEP) implemented by Karnataka State Road Transport Corporation, Bengaluru GEF Grant No.TF095549-IN. I enclose the Audit Certificate together with project financial statement for the year 2018-19 in respect of World Bank assisted Intelligent Transport System (ITS)/Innovative Environment Project (IEP) implemented by Karnataka State Road Transport Corporation, Bengaluru. Kindly acknowledge the receipt of the same. Yours faithfully, (ANUP F ANCIS UNG NG) Accountant General (Economic & Revenue Sector Audit) Karnataka, Bengaluru. 1%C 0 AAO Revenue So Audit ,9fft W: '- FF, IT Mr. 5398 !r - 560 001. Audit Bhavan, 'A Block, Post Box. No. 5398, Bengaluru - 560 001 Ph : 080 22289101 Fax: 080 22253753 E-mail: agauKarnataka2@cag.gov.in website : http://www.agkar.cag.gov.in Indian Audit And Accounts Department Office of the Accountant General (E & RSA) Karnataka. REPORT OF THE COMPTROLLER AND AUDITOR GENERAL OF INDIA To The Managing Director, Karnataka State Road Transport Corporation, Central Offices, Shanthinagar, Rengaluru - 560027. Report on the Project Financial Statements of the Intelligent Transport System (ITS)/ Innovative Environment Project (IEP) under GEF-UNDP Assisted Sustainable Urban Transport Project (SUTP) - Project Code: P100589. We have audited the accompanying financial statements of the Intelligent Transport System (ITS)/ Innovative Environment Project (IEP) under GEF-UNDP assisted Sustainable Urban Transport Project (SUTP), an initiative by World Bank Project financed under World Bank Grant No.TF095549-IN which comprise the Statement of Sources and Applications of Funds and the Reconciliation of Claims to Total Applications of Funds for the year ended 31s March 2019. These statements are the responsibility of the Project's management. Our responsibility is to express an opinion on the accompanying financial statements based on our audit. We conducted our audit in accordance with the Auditing Standards promulgated by the Comptroller and Auditor General of India. Those Standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Our audit examines, on a test basis, evidence supporting the amounts and disclosures in the financial statements. It also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall statement presentation. We believe that our audit provides a reasonable basis for our opinion. 1. Zffft T47: Zf F FTw Mt. 5398 17F - 560 001. Audit Bhavan, 'A' Block, Post Box. No. 5398, Bengaluru - 560 001 Ph : 080 22289101 Fax: 080 22253753 E-mail: agauKarnataka2@cag.gov.in website: http://www.agkar.cag.gov.in In our opinion, the financial statements present fairly, in all material respects, the sources and applications of funds of ITS/IEP Project for the year ended 31st March 2019 in accordance with Government of India accounting standards. In addition, in our opinion, (a) with respect to SOEs, adequate supporting documentation has been maintained to support claims to the World Bank for reimbursements of expenditures incurred; and (b) except for ineligible expenditures as detailed in the audit observations, if any, appended to this audit report, expenditures are eligible for financing under the Loan/Credit Agreement. During the course of the audit, SOEs/FMRs expenditure of T 107.65 lakh claimed vide Application Number IUFR Ql 2018-19 dated 14.08.2018 for the period 1st April 2018 to August 2018 and the connected documents were examined and these can be relied upon to support reimbursement under the Loan/Credit Agreement. This report is issued without prejudice to Comptroller and Auditor General of India's right to incorporate the audit observations in the Report of Comptroller and Auditor General of India for being laid before Parliament/State or UT Legislature. Yours faithfully, (ANUP FRA CIS DU GDUJN ) Acco otant General (Economic & Revenue Sector Audit) Karnataka, Bengaluru. Dated: Al. 07.2019 2