COMMUNITY RESILIENCE TO CLIMATE CHANGE AND DISASTER RISK IN SOLOMON ISLANDS PROJECT (CRISP) TF016614 & TF016425 FINANCIAL STATEMENTS For the Year Ended 31st December 2018 Table of Contents Page (s) Report of the Executing Agency 2 Auditors Report 3 Balance Sheet 4 Statement of Income and Expenditure 5 Notes to and forming parts of the Financial Statements 6-9 MINISTRY-OF-ENVIRONMENT,-CLIMATE*CHANGE,*DISASTER-MANAGEMENT-&*METEOROLOGYI PO-BOX-21,-HONIARA,-SOLOMON-ISLANDSI TELEPHONE: +677-23031,-FAX:467G7-280541 . .. .... ..... . ...- ... COMMUNITY RESILIENCE TO CLIMATE CHANGE & DISASTER RISK IN SOLOMON ISLANDS PROJECT (CRISP) TF016614 & TF016425 FINANCIAL STATEMENTS For the Year Ended 31" December 2018 REPORT OF THE EXECUTING AGENCY Under the terms of my contract, I have the mandate from the World Bank and Ministry of Environment, Climate Change, Disaster Management and Meteorology (MECDM), as the Executing Agency, to supervise and manage the funds provided by the Least Developed Countries Fund (LDCF) and the Global Facility for Disaster Reduction & Recovery (GFDRR) The Grant (TF016614 & TF016425) is used to implement resilience activities in Temotu and Guadalcanal Provinces and an additional two Province to be decided later under the Community Resilience to Climate Change and Disaster Risk in Solomon Islands Project (CRISP), I certify that the attached Balance Sheet and Statement of Income and Expenditure which has been prepared under my supervision presents a true and fair view of Affairs of MECDM - CRISP for the year ended 31" December 2018. Dated at Honiara this day of 2019. Dr. Melchior Maa ki Permanent Secretary Executing A4ency Representative Ministry of Environment, Climate Change, Disaster Management & Meteorology 2 Morris Sojnocki CHARTERED ACCOUNTANTS Morris & Sojnocki Independent Auditor's Report ha n u phl dd Report on the Financial Statements of the Ministry of Environment. linate Change, Disaster Management and Meteorology (MECDM) - CommunitI Resilience to Gimate Change & Disaster Risk in Solomon Islands Project (CR ISP) We hast audited the aceompan, ing financial statements of the \imistrx of F-ns ironmern. Ciimate (hange. Disaster \ianagement and Meteoroogs i 11(lDMI ('ommunity Resilience to (limae t hange & Uisaster Risk i Solomon Islands Proleet WURISPi uhieh comprise the halance sheet as at 311 December 2018 and the statement of ineome and expenditures !or the year dien ended and a summarn of significant accounting policies and other explanatory notes as set out on pages 4 to 9. Responsibility for the Financial Statements [he Ministrs of ins ironment t mliate ('hange, Disaster \lanagement and \i,teorology as the \xecuting .\gency. and management of MI( lM - (RLSP Proleet Management are responsible for the preparation and tir presentation of these financial statements in aceordanec with applicable Accounting Standards in Solomon Islands and the Girant \greenent l nll6614 & FF016125 dated ist April 2014 heiween Solomon Islands and International Bank for Reconstruetion and Dexelopment & International Deselopment Associauion. and hr such internal control as management determines is necessar to enable the preparaKon of a statement that is frec from material nstatement uhether due to fraud er error. Auditor 's Responsihility Our responsihility is to exprews an opinion on these financial statements hased on our audit- We conducted our audit in accordance w ith app]icable Auding Standards in Solomon Islands T hose Standards require that we comply sith ethical requirements and plan and pertorm the audit to obtain reasonable assurance whether the financial statements are irce from material misstatement. An audit insol\es perfortming procedures to obtain audit eidence about the amounts and diseiosres n the financial statements. I lie procedures selected depend on the auditor' sjudgment. ineluding the of the risks ofiaterial isstatement of the financial statements. whether du to f aud or error. In makin those risk awessments the auditor considers internal mntrol relesan. to the entit'ys preparation and fair presentation of the tinancial statenients in order to design audit procedures that are appropriate ini the ireumstanees, hut not lor the pupose of e'prewng an opinton on the effeetis eness