Chartered Accountants & Business Advisors CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM (CARCIP) GRANT NO. H772-6R 30 JUNE 2017 PKF Chartered Accountants & Business Advisors CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM (CARCIP) GRANT NO. H772-6R TABLE OF CONTENTS INDEPENDENT AUDITORS' OPINION........ ....................................... STATEMENT OF SOURCES AND USES OF FUNDS .............4........4 NOTES TO THE STATEMENT OF SOURCES AND USES OF FUNDS.......I.....................5 RECONCILIATION OF THE DESIGNATED BANK ACCOUNT TO THE STATEMENT OF SOURCES AND USES OF FUNDS 30 JUNE 2017.......... .............. 18 SCHEDULE OF WITHDRAWAL APPLICATIONS .............9........19 INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH THE FINANCING AGREEMENT...........................................20 REPORT ON AGREED-UPON PROCEDURES ON USES OF FUNDS ...... ........21 LIST OF STATEMENT OF EXPENDITURE REQUESTS ISSUED TO THE IDA.............24 LETTER OF REPRESENTATION ......................................25 PKF Chartered Accountants & Business Advisors INDEPENDENT AUDITORS' OPINION To: Project Coordinating Unit Caribbean Telecommunications Union Caribbean Telecommunications Union Caribbean Regional Communications Infrastructure Program (CARCIP) The International Development Association (IDA) Grant No. H772-6R Opinion We have audited the financial statements of the Caribbean Telecommunications Union - Caribbean Regional Communications Infrastructure Program (CARCIP) IDA Grant No. H772- 6R executed by the Program Coordinating Unit, Caribbean Telecommunications Union and financed with funds from the International Development Association Grant No. H772-6R, which comprise the Statement of Sources and Uses of Funds for the eighteen-month period from I January 2016 to 30 June 2017, and a summary of significant accounting policies. In our opinion, the financial statements referred to above, present fairly in all material respects the Sources and Uses of Funds regarding the Caribbean Telecommunications Union - Caribbean Regional Communications Infrastructure Program (CARCIP) IDA Grant No. H772-6R executed by Caribbean Telecommunications Union as at and for the eighteen-month period ended 30 June 2017, in accordance with World Bank Financial Management Practices in World Bank Financial Investment Operations. Basis for Opinion We conducted our audit in accordance with International Standards on Auditing ("ISAs"). Our responsibilities under those standards are further described in the Auditors' Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Program in accordance with the International Ethics Standards Board for Accountants' Code of Ethics for Professional Accountants ("IESBA Code"), and we have fulfilled our other ethical responsibilities in accordance with the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Telephone: 068) 235-5063 Address: ti I Eleventh Street, Buraturin, Trinidud, West Indles Mailing Address: PO Box 10205, Eastern Main Road, San Juan Partners: Re-Lisa Philip Mark K. Superville 1. Chartered Accountants & Business Advisors INDEPENDENT AUDITORS' REPORT (CONT'D) Emphasis of Matter We draw attention to Note 2 to the financial statements, which describes the basis of preparation of the financial statements. As described in Note 2 (a) iii, no provision has been made for depreciation. Although this is not in conformity with International Public Sector Accounting Standard No. 17 - Property, Plant and Equipment and therefore is not in conformity with World Bank Financial Management Practices in World Bank Financial Investment Operations, Statements of Sources and Uses of Funds do not traditionally incorporate depreciation as a use of funds. Additionally, International Public Sector Accounting Standard No. 1 - Presentation of Financial Statements require financial statements to be prepared on a going concern basis. Because the Caribbean Telecommunications Union - Caribbean Regional Communications Infrastructure Program (CARCIP) IDA Grant No. H772-6R executed by the Program Coordinating Unit is a finite program (to be implemented over a five (5) year period), the going concern basis of accounting is not relevant to the preparation and fair presentation of these financial statements. Our opinion is not modified in respect of these matters. Responsibilities of the Program Coordinating Unit, Caribbean Telecommunications Union for the Financial Statements The Program Coordinating Unit, Caribbean Telecommunications Union is responsible for the preparation and fair presentation of the financial statements in accordance with World Bank Financial Management Practices in World Bank Financial Investment Operations and for such internal control as the Program Coordinating Unit determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors' Responsibilities for the Audit of the Financial Statements Our 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 auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs 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 financial statements. 2. PKF Chartered Accountants & Business Advisors INDEPENDENT AUDITORS' REPORT (CONT'D) Auditor's Responsibilities for the Audit of the Financial Statements (Cont'd) As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We 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 our 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 override 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 Program's internal control. * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Program Coordinating Unit. We communicate with the Program Coordinating Unit regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. pzf 31 October 2017 Port-of-Spain TRINIDAD CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM GRANT NO. H772-6R STATEMENT OF SOURCES AND USES OF FUNDS for the eighteen-month period from 1 January 2016 to 30 June 2017 (Expressed in United States Dollars) Eighteen-month period ended Year ended 30 June 2017 31 December 2015 SOURCES OF FUNDS: Cumulative sources of funds, beginning of period/year 1,548,084 855,000 Activity during the riodvear Advance payments 757.000 93,0 Cumulative sources of funds, end or period/year 2,305,084 1"8084 USES OF FUNDS: Cumulative uses of funds, beginning of period/year 1U3 84 Activity during the year: Component Expenditure Component 1: Regional Connectivity Infrastructure - 466.394 Component 2: ICT-Led Innovation Component 3: Implementation support - Incremental Operating Cost - 221.729 Component 4: Other 807,191 Other Erpenditure Loss/ (Gain) on foreign exchange 7,597 (4.106) Bank charges (contra with interest income) 618 842 Penalties and interest 215 1.005 VATexpenses k14 Total cash disbursed (or the period/year 81J3Ef,8 Cumulative uses of funds, end of period/year 72,17,173 Available Cash, end of period/year __M74U NET CASH AVAILABLE Cash in hand 3TD 64 5 Cush in hand USD 925 852 Local Account - TTD 1.153 16,556 Designated Account - USD I RZ81 8 229.733 Total Clasin C4Thh Balances ..AJJ FiAace 91'anagement Specialist rroject Manager Secretary General (The accompanying notes form part of these financial statements) 4. CARIBBEAN TELECOMMUNICATIONS UNION CARIBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM GRANT NO. II72-6R Notes -to the Statenient of.Sources and UJsep of Funds (Expressed in United States Dollars) 30 June 2011 Description of Proram: On 26 June 2012, the CaiObean. Telecommunicadtions Union (CTU) signed Grant No. H772-6R With the Intenational Developmetit Association (IDA) of the World Bank to fiAnce the.Caribbean Regional Communicaions Infrastructure Progam (CARlCIP). The Program's-effective start date was 15 April 2Q13 and,the total grant was US$1,000,000. The. Caribbeaft Telcommunications Union (CT.J) is the. Project Coordinating Unit (PCU) for the .Progtam With Apecific tesponsibility for planning .id coordinating progmm activities. The Inforianaion Communications Technology (ICT) Secror in the Caribbean faces many challenges such as highly fragmented markets and uneven distributib of resources. To mitigate these challenges, the Caribbeai Community and Common Market (CARICOM) developed -a Regional Digital Development Strategy (RDDS), aimed at harmonising efforts towards fast-tmaking the formition of a CARICOM Informationi Society by 2019. RDDS is also intended to address. key policy and regulatory bottlenecks which constrain the use of ICT to stimulate growth.in the CARICOM.region. The key objeptives of the Strategy gre tp: (a) establish a. modet, regional, reguttory -And, open teledommunications infrastructure with affordable netWdtks using converged technologies; (b) build a digital community culture and increas6 the vidue and volume .of the. region's trained ICT workforce; (c) use ICT to demonstrate good.governance and indrease efficiency inoperations; (d) establish. a colaure of innovation and.quality, and enable sustainable production of regional digital goods afd services; and (e) gide lisinesses and governments to use ICT for sustainable growth and support. .social development objctive$6 through.partnerships. 5.1 CARIBBEAN TELECOMVUNICATIONS UNION -CARIBBEAN REGIONAL COMIUNICAnONS INFRASTRUCTURE PROGRAM GRANT NO. H772-6R Notes to.the Statenient ofSdurces and Uses of Fundg (Expressed in Thiled States Dollars) .30 June 2017 1. Description of Proram (Cot'd); Recogtfis4fig'.the -challenges faced by the ICT .Sctor in the Caibbean including policy and regulatory bottlenecks, the IDA of Qe World Bank and stakeholders within tbe- region designed CARCIP. The participants in this pmgram are St. Vincent and th irenadines, Grenada and St. Lucia. The Program supports a regioi approach toward addressing the challenges through a holistic ICTenabled dovelopment framework, strongly apbored jn CARICOAVs regional ICT agenda. The main objective of the program is to. increase 'itcess to broadband networs, and advance the development of an. ICl'-enabled.services industry in the Caribbean. The Program.hns.three components tobe implemented concurrently: (a) Support for regional conneativity infrastructum. This component includes 8Upport for developing: -1) physical. connectivity infrastructure, and (ii) polidcy, legal, regulatgry and institutiondl supit. (b) ICT-led innovation- through Activities that will lqverage the regional broadbiad infrastructure to. fostier growth of the regional Information Technology/ Information Technology Enabled Services (ITEg). (c) Impleibentation support that encompasses institutional and capacity building, as well as monitoring and evaluation. 6, CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN REGIONAL COMMUNICATIONS INFRMTRUCTURE PROGRAM GRANT NO. H772-6R Notes to the Statement of Sources and Uses of Funds (Expressed in United St4tes Dollars) 30 June 2017 2. Significant Accounting Policies: (a) Basis of pteparation - (i) The financial statements inve .beeh prepared in accordance -with World, Baink Finaiicipl Management Practices in World Banlk Finacia Investmerit Operations, (ii) The Statement of Sorces and t.ses of Fuids have been prepared on a ca9b basis.. The. cash basis is E comprehenSive basis of accounting which does hot take ifito cpsideration kecruils of receipts or expenses not yet paid. On this basis, Grant disbursements are recognised when receiyed and dkpenses are recognised when paid rather- than when incurred. This basis is in-confbrmity with Wotid Bank Financial Management -Ptactices in Wrld Bank Financial Investment Operations, which comply with International Public Sector Accounting Standards. (iif) No account: has been taken of deprec:iation on. fixed assets. This basis of .ac,ounhtig is notd in conformity with Internhtional Public. Sector Accounting Standard No. 17 - Property, Plant and Equipment and thefefore is not in tonfQoonity with Word Bank Findnbial Managernent Practices. in World Bank. Financial Investment Operations. (iv) Cash disbursetnerits aid costs incurred'bave been presented in conformity with the cost budget. allocation containped in; Annex (A) -of the contract between the CTU 4nd the IDA. 1v) Funding is recognised bh a cash basis. 7. CARIBBEAN TELECOTyIMUNICATIONS UNION CAllItBEAN REGIONAL COMlNJNICATIONS INFRASTRUCTURE PROGRAM GRANT NO. A772-6R Notes to the Statement of Sources and Uses of Funds (Expressed in United States Dollars) 30. June 2017 2. Signikant Accounting Policies (Cont'd): (by Foreign currency*translation - (0 All receipts other than in the reporting currency have been transldtedat the rate of exchange oIiinidad und Tobago dollar $6.50. (i) All payments other than thbse in the reporting currency have been transltlOat the.rate of exchango of Trinidfd. and Tobago dollar of $650-fot the period I Jantry 2016 td 31 December 20.16 and $6.60 for the period I January 20.17 to 30 June 2017b (iii) Transfers from the US dollar Atcount to the TT-Dollar Account are. recorded it the banks buying rate on the dayof the.tranifer, (iv) Payfients under -o.ntracU, which state an. agreed rate of exQhange uses that rate to retord the transactions and to.report the expenditures in the reporting currency. vY) The World Bank's policy is that expenditures should be record:d Eit same inte a-t which transfers are made from the US Dplar Account 16 the TT Dollar Accouit Thisis the matching pinciple. (c) Reportiig.Citrency - These financial statements.are presented in ited $tates dollars. The. financial staterefnts.are M04itained by the PCU in Trinidad and Tobago dollars. Conversion into.United States dollars is done ift accordance with the procedores indicated in. Note 2(b) above. CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN REGIONAL CONMUNICATIONS INFRASTRUCTURE PROGRAM GRANT NO. H772-4R Notes to the Statement.of'Sdurces and Uses of Funds (Expressed in United States Dollars) 30 June 2017 3. DiSbursemet Period: The period. fqr inal disbursement of the Grant resources shall expirm thr&e () years and ten (10) months from -the effetive date of the Grant The final daze of disbursement was 1. Fbruary 2017. During the cbtrnt period the final disbursement date a4.ggreea with the World Bank was changed to I August2018.. 4. Funding: The total cost of the Program is estihated to be the equivalent of US$3 million. The funding forthe Piogram is allodated as follows:. US$ The Caribbean Telecomiuniations UniQn 1,5,,000 Eastern Caribbean.Telecommunications Aithority ,00000 Caribbean Knowledge and Leaning Network 900.000 US$ Component 1 Regional Connectivity Ihfrastructure 1,500,40 Conponent2 ICT - Led Innovatio 600,000 Component- 3 Implementation support - Incremental Opera4ng Cost 900,000 Effective September 2016, the World Bank, hhving reviewed the performance of the Program agreed to collapse ftither .exppnditure under the above coniponents, 1ito.a new Coniponent 4 - Other. . CARIBBEAN TElCOIUNICATIONS UNION CARIBBEAN REGIONAL COMUNCATIONSPINFR TRUCTURE.PROGRAM GRANT NO. H772-6R Notes to tha Statement of Sonrces and Uses otFunds (Exprssed in United States Dollars) 30.June 2017 51 Cash and Bank: 3Q June 31 December 2017 2015 US$ UJS$ Cash on-Hand PJSD 925 852 Cash on Hand TTD 15 RBC Royal Bink TTD 2)153 16,550 RBC Royal Bank USD 184,918. 229.733 6. 'Financing: Comitment charges bn the ufi-withdrawwfit1acing balance of the Grant become due and. payable semNanfually on 15 February ,and .15 ALrgust each year. As per the. agreement, these charges shall be a half of one percent (112%) per annum, at the diseittion df the World Bank. I0. CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN REGIONAL COMMUNICATioNs INFRASTRUcTuRE PROGRAM GRANT NO. H772-6R Notes to the Statdinet of Sourcqs and Uses of Funds (Expressed in United Statis Dollars) 30 June 2017 7. Disbursements: The followirig represent disbursemientsoxecuted asat 30 Jpne 2017: Disbursements to Disbursements in Disburs6nents to I January 2016 period 30.june2017 TJS$ US$ 'US$ CONTACTS Regionat CQnnctivity In0irastructre 490.462 457,202 947.(M ICT-Led, lovatoh - 36.434 36,434 InpletenWtionSpport .424,964 17,459 19M,1S4. .915,366 i51,095 1,596,461 OTHER 385J35,140 520712 Total Ii1., CARIBBEAN TELECOMIVINICATIONS UNION CARIBBEAN REGIONAL COMMUNICATIONS INRASTRUCTURE PROGRAM GRANT-NO, H772-6R Notes to the. Statement of'Sources and Uses of Funds (Expressed in United States Dollars) 30 June.2017 7. bisbursemgnts (Cont'd); The following arp the disbursements executed ag at 31 December 20 15: Ditursement to Disbursemdnlgin Disbursements. to I January 2015 year 31 December-2015 C SS US$ US$ Regionaf Connectivily Infratructure, 5387303 490,462 10-Led Inn6vation . ImplemeQatibyi Suport 194.90 334,073 58193 915,366 . 280,082 195.490 385.572 T o ta l ; J i m a , CR0 Ca I--D eje 90 IC i a II o . luI 2 .Vg - .8 0 E8 t ~4 S 3tI c e- rø..3 &-―■‘■·―,--1-!--．낫］.，。―！· · CARIBBEAN TELECOKVIUNICATIONS UNION CARIBBEAN REGIONAL. COMMUNICATIONS DWRASTRUCTURE PROGRAM GRANT NO. H77-2-6R Notes toAheStaterneht bf Satirm.,and.UsadfFunds (Expressed in United Stateg- Dollaft) 30 June 2617 9. -Direct Payrn6nts &de -by I1DA:_ There wem -no dirW payments alade. by the.IDA during the periodlyeat uftdef TtvidW. 10. Fixed Assets: Fj ed -assets are stated at -cost and -no depreciation Is - charged.. Althbugh. this -it not in accordance with International Public Sector Adcbuntidg Stafidard Nb' . 17 - PrbPerty, Plant and Equipment and therefoie is' not, in- db-nforviky with World Bunk Financial. Manqernent-Practices -in World Bank-Finahcial Investinefit Operations, it-is,the pracoc.e When accounts are grepated Ltsing, the ciish -4sis -aLs- -desqnbed fn Nqte 2(a). Assets parchased during the period/year'reported (Value Added TAx inclusive) are given below; 30 June .11 Pecenl'bei :2017 -2015 US$ Compt4er Equipment '51451 9, 2.1 Furniture aud Fittibigs 8,829 14,28Q- t8mo 15. CARIBBEANTEL'COMMUNICATIONs UNION CARIBBEAN REGIONAL COMMUNICATIONS. INFRASTRUCTURI PROGRAM GRANT NO. H772-6R Notis to the Statement of Sources iad Uses or Fupds. (Epressed In United States Dollars) 3 June 2011 10,. Fixed Assets: LISTING AS.AT30 JUNE2017 ATIE DERIPTION, ICI CI QCOSF CORIJTER & EOHPhBT 29-Jun-13 MB- Ii 060-WDBACW0030-EXT HARD DRIVE.MY BOOlK.3TB USB .328 130 1.98 2-Jun-*3 MB -Ilem: 240-2344-BNU -3 LJFFOP TFINKPAD T43(k Lcnovo IhTakpadSW: Ob-7K9LV 32Y80 139 1.439 LwIovc.think pad SN: PB-7M6D). 328 139 .439 28-Jun-13 Mg - Itr 240.3698-4RU -2 LAPTOP#11,N AD HELIX: LTH (donhenfible)SN: R9-YYKHD 32980. 139 2 5,451 FURNITURE AND FUTTINGS 26-Apl3 HEI- 4 DRAWERF/CBA, bREYCiBBY TIM379 .126 256 26-Apr-13. BEr- BRiDGE 427X20"Pt 1304378 126 I7 26-AOr-13 85.-CREDEHZA SHELL72"XA20 PC F437A 126 213 26-Ap-13 BEl-DERBY1LATHER ikC CHAlk, BLrpc PM43" 125 162 26-Apr-13 BEL - DESKSHML, 60"X30:PS. FMS.M" P1304378 125. 6 26-Apr-13 BEI- DESK.SHELL. BOW 72364F 78 126 296 ;6-Apr-13 BBI- HUTCH. DOORS SOLID W72%PC m3o4va3 126 1.254 .26-Apr-13 BIl- M4TlFUNULrONAL,qHAlR, FABRI-PS P1304379 126 333 24-Apr,13 BE - PA.ERMd LEATHER EXEC CHAIR-SW F130431' 120 362 26-Apr3 h EI- PALEPMO LEA-THEi EXEC CHAIR-TiO. Pi304373 126 26 26-Apr-13* HE- PEDSTAL, Wl/B/F I6QXl9-PC FIS04M [.U lo 26-Apr-13 BEl- PIDESTAL, BIBIF P PLUM379 126 3 OL Ap-L3 BPI - PEDESTAL. 0/B/P, 16XIltPS, gFMS. M&E 130437i 126 66 25-Apr13 BIl- RETURN. IEVIR8RLE, 4rx20's..FMS. M& FlW379 1M 382 ,$i-Apr-13 B3I- RDUND TABLE42": BOARD ROOM. F1304378 126 166 l3-Jun-13 BEt- MULTFUNCTIONAL CHAIR FABRIM MARINE0 U COf4)Ug 3007 I-U 99 13-Jun-13 BBI -tOVAOP-CHAIR,B LK MESHFABRIC 26-J13 B ET METAL FILINOCAMET-RilY307480 144 269 26-Jul-13 BE- BANK*S LAMP iZWT/6Plr F007480 144 471 3Q-Ju-13 THE OFFICR AUTfIO1ITY. ELEClId 3 HOLE. PUNCH 3Q-Jan-14. THE OFICS-AUTHORT - FLIP CHART EAEL 2 8.829 TOW,t 14,2m) BEI - SlUSINESS EQUIPMENT INTERIORS MB - MEMORY BANK Lltf - t&novu ThinkPail -Mix ALL PURiCk"MC WERE MADE IN ACCORDANCE WInT-1-EE WORLD DAN "SPOC$NIENT GUIDBLJNU.. 16. CARIBBEAN TELECOIMUNICATIONS UNION CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM GRANT NO. H7724R Not to theStatement.of Sources and Uses oftFtmds (Expressed in. United State# Dollars) 30.,June 2017 10. Fixed Assets.(Contd): LISTIN AS AT 31 DECEMBER 2015 DATE I]EPTON INVOICE CHQ C &* COMPFUTER & ICdVIP&tENT 28-Jun-13 MB_- Iten 060.WDBACWO30-XTIAf DRIVE.MYB001K 3T 1JSB kago' 19 i *2-Jun-13 MR - IWn340-2344-BNT -3 LATOP'HINKPAD T430; Lenovo think pud&: PB-7K9LV 32980 39 1,439- Lpnovpthink pAW-SN; PE7M6DB 3am 139 1,439 Lchpvo think*:i SN: PB4K9HM 3*0 110 lAY9. .28-Jur-1. MB - k1m: P9O-981-00510- HEADSET. LOGITECH 854 US -3238 139 246 28-in-13 MH - Ittim: 240-3608-4RU- LAPTOP THINKPADil.1X: L'H (convutibIc)SN:RYZG0D .286 139 1.371 LTH (tonvible)SN: R9-YYXHO 52380 J39 2375 28-Jun-13 MB-iem:,b60-WBACW0olq -E;THA#DDRIV MY BOOK tUSB 330 139 410 PIRNUM RAND FLTINGS- 16-Ap3 B51- 4.DRAWER PICAB. ORBYiCUBBY 1k304VS 126 236 26-Apr-13 BEL --BRIDE,)4X20:PC F1304373 126 107' ±&6Apr-i3 CREDENZA SHELL 72"X2: P3378 12 3 26Apr-' B1B3- DERBY LEATHIR EXEC CHAIR, BLK-lC PI30"3 i26 352 26-Apt-13 BE( - DESKSHELL 60"Xj00:PS. FMS.-M&E FI30437R 11 60 25-.Apr-13. .81- DESK SHElL. BOW 7"X36/4t:PC F10437B 176 i96 26-Apr.13 BE1- ITCH DOORS SOLD W72":PC FL373 126 1.254 26-Apr-13- BEI-MULTIFVNCTIONALOffAig .FARlRVPS P1304378 326 333 26Apr-13 BEl- PALERMO'LEATHERF.XECiAR-SW F30437 126 362 26-Ap03 81- PALERMoLEATwER EXECCHAPR1TP34m. IA 26-Apr-13 BBI3- PEDESTAl,, BIB/F 16XI9"-PC F1304378 126 nO 16-Apr-I) E11 - PEDESTAL I/F 1651ifC F1304379 126 226 26-Apr.l3 BE- PEDESTAL, 8/B/F. 16"J9":PS. 'MS. M&E F34378 126 60 26-Apr-l BElkRURR, REVERSBLE 43TX2":PS, FMS, MilE -1304379 126 382 26-Apr13 BE -ROUND TABLE 42": UARD -ROOM 'F004313 L2o 13-jun-13 B:- MULTIFJNCTIONAL CHAIR.PABRIC. MARINE COLCUR F1306972 134 998 13-Jtm-13 131-NOVAOP-dHAJR.BLKMESHINABRIC F1306973 134 a99 2§-Jul-13 B-6FEETMETALELINCGCABINBtOkY 1317480 144 2OW 264ul-13. !Ei- BANKES LAMP ikW/60T PIJO74 144 471 .10-Ju1-I3 THRORFM4l AUTHOROTY - EI,EJTAJC l HQLE PUNCH 167882 145 111 301an44 THE OPFICEAUTHORITt-FLPlfART,EASEL 18550 172 228 34129 T3t5 [B91,710 B3E1-BUSINESS EQPJIPMENT.KNTRIORS NIB - M11MORY-HANK Linti- Lmnova ThinkPad HeliIx A LLP11RVHASES WEFRE MADE 1N'ACC6RI)Ak1Ewrrm TItEivomilD BANK'S PRO.CIREMENT GUIDELIN09. 328079.,49 CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM GRANT NO. H772-6R Rtcontiliation of the Designated Bank Acount to the Statement.of Sources.nd Uses of Funds (Expressed in Uited States Dollars) 39 June, 2017 Eghtecn-month period ended Year ended 30.June 2017 31 December2015 ($) ($) Design4teO Bank Account.balace 229,33 Nei cash-available per Statemnent ofSourcos and iss of Funds CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN REGIONAL COMMUNICATIONS JNFRASTRUCT1UE PROGRAM GRANT NO. H772-;6R Schedule o WihdrawalApplikations (Expressed In United States Dollau) 30. June 2617 Athount. Justification Paid Justification Date VAlue Date Applied SAbmitted Amfont Approved Received Date Closed 480,000 - 480,000 - 27-May-13 03-Jun-13 03-Jun-13 - 375.382 - 373382 t5rJmn- L4 27-Jun-14 .27-Jun-14 375,000 - 315,000 - 14-Jul-14 134Aug-14 43Aug-14 - 238.534 - 238,434 22-Jun-15 7-Jul-15 7-Jul1,5 243,084 - 2431,84 - 1i-Ju- is 3-Jul-15 ' 21-Jul-15 - 428,811 - 42.Ali 16-Oc-14 19'-ct15 19-Oct-15 450,000 - 45(,dbO - 16-Oct-15 21-Oct-IS 21-Oct-15 - 335,363 - 335.30 16-May-16 21-May-i 21-May-16 257,Q00 - 257,000 - 16-Jii-16 22-Jun-16 22-Juu-16 - 338,749 - 338,749: 19-D&d-16 21-Dec-46 21-Ddc-16 - 500,000 - 19-Dec--16 21-Dec-16 21-Dec-16 19. 21I1AJOdnlg ~~i 'd11114 891j%4gIg>l :30w;PJ UlIr Uo 'pOM U5EqBfli 150h10 'Jt U ()d ~mIpV MU11E1g RW1UI sa I PUPEU111 10uMnqueff 8333.nS qluaAa3 i ii :~Stppy C9051fet (8981 maoqdapj o2cq0I pun pDPUPuIL u!fndS jo 1-10d nToz Jaqo130 i£ -junuuW uonmuawnidwl pui iuownäv ffuinud s,UAOMd o1 io2d9iSO tli!m Iuur suop1u3n1urtuonao uucqq%nYI!ufl EUIfEUFpJOOD 132Fo1d 3t11 JO pud atp uo0 sUO1tO! ipo Auu io o3uildWtuoou IsgEgns 01 sioj!pnuD 3o1 lo uOi1Uglfl aLlj 01 2OD Sv14 gul14JON iuo!Uldo ana joj sisuq gjqnuuosuIai in "p!AOJd j!pnu ina juti A;Inq %/1-nunp!Aa mgdoiddfl atli sisuql isaJ. n uo IOuwruuna snpnlnui ljn 21 -lunurj> uoljmuawaidwI puni ju:aw-ajV guzuuH 5,wrffiud 3GIP u! pautu1UOO suo!s]AwJd qz1 puri 'suoluIfl2aa Pur Smul a1qn3tlddfl Ispsnupj ITMDUUC)~ jUrUD luUUI1f 1114M pa.1dwo WCU1803d dgDXV:3 - uoiufl suotjnw ~afURO3l u9aqirD Gtl1 inqi onumnssu l quuosumI uluiqo oj i!pnu qt1 pauuojnd pr pnurid %p -IOZ gunlf o£ jo sr 119-ZtLH oN irwnuoD zuluo .10 InnunKA uorjnjuow2idwi s,wu.12oid apl ux4 p2ilni1sp suaISIåoad O141 pur1 liunmnagV 2Uw3uuui4 otlj xp!m xwrduolj pnumumlp om '1!pnun anal uopjulm Uj *10Z.32cooo 1 £ pnilWp uow2tp 1i>aodol panssi qAvt; aM puu1 -uoturj suoil1UD!ulwwo:>ia. unaqqqrD~ li1u10 2iunuuipioo[ wonro.3141 ijo Mzl!q!suodsoi atp 31 2ju3~gi1s 09241 -sq1j0tlod SulunooDfi iuaguRt142s jo k~niulUs t PUU ILILOZ 31u1f OE oj 9 10Z £munumf I wog popad tpuowi-u2a2tL3ap a oj spungj jo sasfi pu111 snainoS jo IU2wDIUlS -aq1 osudtuoj illTm '1-dUtLH ON Juw.' wiiotUOssy iuawdoPanOU liiuopv1wm31U ]4 wojj spUTij Ilj4Mffi UUI 4onuv 1J0Urufl SuoU!uWUon121 uuzqqm:) Itjuri iUuip00:D wugaojj vq1 Xq poinnaxo -d9-zttH 'ON I"Mo vaII (aIDUVD) Uuffloid 21InuSCAUI suopuni!uftu1uo:) juuoiXo-d uroqqtjt!D - uo0turl suoijufliununUOnaI21 U13qq!-fl 0141 jo s1uawai uzurlugll atp1 pm1pnu11 3anq1 2M ä9-ZLtH 0N iwif9 (va[l) uoilutjossW iuawdot;>aa luuoIJl1auiau aij (JIDUiVD) TuBi120åd WJn-JIIjiJI suoljuunuDlUuotieu-Ä unaqqja1uD uoiufl suopinrunlunuwaial uuaqqltuD1 uomUfl suoijwiuunlu1onIaj unaqqjjua Munf zuq1uuffl003 434rOJd :OJ, jNaNgauDIV 9NNNA 3HM HIIM TIDKVMlJMO NO l10dHU110uIIGflv 1N3UKHMINI14 siosiApv ssuisng 12 sjuLunfoaov paeejeqo PKF Chartered Accountants & Business Advisors REPORT ON AGREED-UPON PROCEDURES ON USES OF FUNDS To: Program Coordinating Unit Caribbean Telecommunications Union Caribbean Telecomn2lUicationls Union Caribbean Regional Communications Infrastructure Program (CARCIP) The International Development Association (IDA) Grant No. H772-6R1 We have performed the procedures agreed with you that are enumerated below with respect to two (2) disbursement requests made to the IDA by the Project Coordinating Unit - Caribbean TelecommunlicationIs Union - CARCIP Program IDB Grant No. H772-6R1 made during the eighteen- month period from - January 2016 to 30 June 2017 and set forth in the accompanying annex. Our engagement was undertaken in accordance with the International Standard on Related Services applicable to agreed-upon procedures engagements. The procedures were performed solely to-assist you in evaluating the validity of the two (2) disbursement requests and are summarised as follows: 1. . We obtained and checked the date, use and amount of the disbursement requests against the Project Coordinating Unit' s records. 2. We verified for each payment, the existence of appropriate supporting documentation in accordance with the procurement procedures. 3. We verified the receipt of payments by the intended recipients, and evidence of such outlays in the Project Coordinating Unit's accounting records. 4. We reviewed the payments for the procurement of goods other than works, to verify compliance with internal control policies. Telephone: (565) 235.5063 Address: i i Eleventh Street. Baraturia,Trinidad, West Indies Mailing Address PO Box 10205, Eastern Main Road, San Juan Partners: Renfe-Lisa Philip, Murk K.Superville zi. PKF Chartered Accountants & Business Advisors REPORT ON AGREED-UPON PROCEDURES ON USES OF FUNDS (CONTINUED) We report our findings below: a. With respect to procedure 1, disbursements were properly recorded in the accounting records. b. With respect to procedure 2, there was appropriate supporting documentation in accordance with the procurement and internal control policies and procedures. c. With respect to procedure 3, all payments were received by beneficiaries and there was evidence of such outlays in the Project Coordinating Unit's accounting records. d. With respect to procedure 4, the procurement of goods other than services was in compliance with internal control policies and their use in program operations. Because the above procedures do not constitute either an audit or a review made in accordance with International Standards on Auditing or International Standards on Review Engagements, we do not express any assurance on the payments in the Statement of Sources and Uses of Funds as set forth in the accompanying annex, or on the disbursements taken individually or as a whole. Had we performed additional procedures or had we performed an audit or review in accordance with International Standards on Auditing or International Standards on Review Engagements, other matters might have come to our attention that would have been reported to you. Our report is solely for the purpose set forth in the first paragraph of this report and for your information and is not to be used for any other purpose or to be distributed to any other parties. This report relates only to the payments included in the Statement of Sources and Uses of funds specified in the accompanying annex and does not extend to the financial statements of the Caribbean Telecommunications Union - Caribbean Regional Communications Infrastructure Program (CARCEP) IDA Grant No. H772-6R taken as a whole. PlF 31 October 2017 Port of Spain Trinidad and Tobago 22. CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM GRANT NO. H772-6R ANNEX (Expressed in United States Dollars) List of Expenditure Riquests Issuedi4urihg the pefiod.1 Janubr 2016 to 30 June 2017 REQUEST NO. REQUEST AMOUNT AMOUNT AMOUNT DISALLOWED. RECORDED IN GL 4 335,363 335j363 5. 338,749 -338,740 23, CARIBBEAN TELECOMMUNICATIONS UNION CARIBBEAN REGIONAL COMMUNICATIONS INFRASTRUCTURE PROGRAM GRANT NQ. H772-6R List Qf Statement of.Ikpenditure Requeats Lssued to the IDA (Expressed.in United States.Dollars) List 6f Expeiditure Requests issued as at 30 June 2017 REQUEST AMOUNT AMOUNT REQUEST NO. AMOUNT DISALLOWED RECORDED IN GL 1 388,574 (15,192) 373382 2 2g8,534 238,534 3 428,811 428,811 4 335,363 335,363 5 338,749 -, 338,749 List ofExpenditure equests issued as at 31 December 2015 REQUEST AMOUNT AMOUNT REQUEST NO. -AMOUNT DISALLOWED RECORDED IN GL 1 388,5.74 (15,192) 373,3.82 2 234,534 - 238,34 3 428,81 428,811 24. CARIBBEAN TELECOMMUNICATIONS UNION 4 Mary Strftt Saint Clair. Port of Spain, Trinidad and Tobago Tel: (88)6225871162S-3591 Fax: (868) 622 6523 E-Mail: Info@ctulnt Websit: www.ctuint "Asm CACIL 30th October 2017 ARCIP Mrs. Renee-Usa Philip Managing Director PKF Limited 111 Eleventh Street BARATARIA Dear Mrs. Philip, This representation letter Is provided in connection with your audit of the financial statements of the Caribbean Telecommunications Union- CARCIP Program IDB Grant No. H772-6R executed by the Program Coordinating Unit, Caribbean Telecommunications Union and financed with funds from the International Development Association Grant No. H772-6R, for the eighteen- month period from 1 January 2016 to 30 June 2017 for the purpose of expressing an opinion as to whether the financial statements are presented fairly, in all material respects, in accordance with World Bank - Financial Management Practices in World Bank-Financial Investment Operations which comply with International Public Sector Accounting Standards. We confirm that, to the best of our knowledge and belief, having made such inquiries as we considered necessary for the purpose of appropriately informing ourselves: Financial Statements * We have fulfilled our responsibilities, as set out In the terms of the audit engagement dated 4th September 2017 for the preparation of the financial statements in accordance with World Bank-Financial Investment Operations which comply with International Public Sector Accounting Standards. In particular the financial statements are fairly presented in accordance therewith. * Significant assumptions used by us In making accounting estimates, including those measured at fair value, are reasonable. * Related party relationships and transactions have been appropriately accounted for and disclosed in accordance with the requirements of World Bank-Financial Investment Operations which comply with International Public Sector Accounting Standards. 25. CAkUM tbCILE V ARCIP Mrs. Renee-Lisa Philip 31 October 2017 Page 2 * All events subsequent to the date of the financial statements and for which World Bank- Financial Investment Operations which comply with International Public Sector Accounting Standards require adjustment or disclosures have been adjusted or disclosed. * The effects of uncorrected misstatements are Immaterial, both individually and in the aggregate, to the financial statements as a whole. Information Provided * We have provided you with access to all information of which we are aware that is relevant to the preparation of the financial statements such as records, documentation and other matters. * We have provided you with additional information that you have requested from us for the purpose of the audit. * We have provided you with unrestricted access to persons from whom you have determined it necessary to obtain audit evidence. * All transactions have been recorded in the accounting records and are reflected in the financial statements. * We have disclosed to you the results of our assessment of the risk that the financial statements may be materially misstated as a result of fraud. * We have disclosed to you all Information in relation to fraud or suspected fraud that we are aware of and involves: o The Project Coordinating Unit's management; o Employees who have significant roles in internal control; or o Others where the fraud could have a material effect on the financial statements. * We have disclosed to you all Information in relation to allegations of fraud, or suspected fraud, affecting the financial statements communicated by employees, former employees, analysts, regulators or others. 26. ~MOmm ARCIP Mrs. Renee-Lisa Philip 31 October 2017 Page 3 * We have disclosed to you all known Instances of non-compliance or suspected non- compliance with laws and regulations whose effects should be considered when preparing financial statements. * We have disclosed to you the Identity of the related parties and all the related party relationships and transactions of which we are aware. * We believe that the selection and application of accounting policies are appropriate. * Aspects of laws, regulations and contractual agreements that affect the financial statements have been duly recognized. * We have disclosed to you, our plans and Intentions that may affect the accounts as presented. * We have communicated to you, all deficiencies in internal control of which Project Coordinating Unit is aware. * Title to, or control over, assets, the liens or encumbrances on assets, and assets pledged as collateral have been disclosed. Bernadette Lewis Junior Mcintyre Secretary General CARCIP Project Coordinator 27. 3