REPUBLIC OF KENYA OFFICE OF THE AUDITOR-GENERAL REPORT OF THE AUDITOR-GENERAL ON THE FINANCIAL STATEMENTS OF KENYA YOUTH EMPLOYMENT OPPORTUNITIES PROJECT CREDIT NO. 58120 KE FOR THE YEAR ENDED 30 JUNE 2018 A4R Project Name KENYA YOUTH EMPLOYMENT AND OPPORTUNITIES PROJECT Implementing Entity STATE DEPARTMENT FOR LABOUR PROJECT GRANT/CREDIT NUMBER 58120-KE ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED JUNE 30, 2018 Prepared in accordance with the Cash Basis of Accounting Method under the International Public Sector Accounting Standards (IPSAS) ey r I y l-0 nl (1pIn)et Upportnimiy Proìjeci Reports and Financial Statemientis For 1Ihefinancial year ended .lune 30, 2018 CONTJENTS PAGE I. PRO.IECT INFOR M ATION AN D OVERALL PERFORIMANCE, 2. STAIIMENT OF PROIJECT MANAGEMNi RESPONSIBILTIES .... .vii R- ... ..TIE INI)..1ENDNì' AUDITORS ON 'I-HE KENYA YOUTH- EMPLOYM ENT OPPORTUN ITIES .. . . .. . . .. . . .. . . .. . . . .. . . .. . . .. . . .. . . .. . ....................................... - ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..v iii I. STATEIMENT OF RECET ANI. PAYMENTS FOR TI-LE PERIOD ENDED 30T1 .UNE 2018 . 1 5. STA'I MENT OF FINANCIAL ASSETS AS AT 301H1- JUNE 2018. 2 -6.. 6. STATEMENT OF CASH-FLOW FOR TH E P>ERIOD) ENDED 30TH- JUNE 2018 7. STATEIMENT OF COM PA R AIVE BUDGET AN) ACTUA L AMOUNTS.. N. NOTE. T() T H 11-F- 1INANCIAL STATE'I\/IME-NTS... . 9. OTI-IER IMPORTANTD I CLOSURES. ........................ - -. 13 10. PROGRESS ON FOLI,OW UPl OF AUDITOR RECOMMENDAT.1IONS14 flenya routh Emp/oymen Opportunity Projet Repord.s and Financial StatejL11ents For tl efinancial year ended June 30, 2018 l. PROJECT INFORMATION AND OVERALIL PERFORMANCE I. I Naie and registered oflicc Name: The projecø's ofiicia name is Kenya Youi lh Employmen t and Opportunities Projctl Objeclive: The key objeclive off (he projecl is to inerease emplIoymeni and earnings opportunities for ihe targeled yollils. Address: The projecl headquarlers officcs are: MNl inislry of Labour and Social Prolectin Stale Deparomen of Labou r Soci,a Sceurily House 1P 0 13ox L0326 -00 l 00. 131ock "13-, 15th Floor Nairobi, Kenya. mna iI: ps;i(flabour.go.ke Web\'site: hIp//wvww.kbour.go.ke/ TIeaddress of lis registered oflice is inl Nairobi County, Kenya The project also hIas offices/b-anclhes as 1illows: • The Project does not have other oftices/brnes Coitacts: Tihe followingil are [Ite projeci contacls Telephone: 0202729800/EtZXT144 I0/141103 E-mail: ps@abour.go.ke Websi(e: www.\.go.ke 1.2 Projecl Information Projecl SIarl Dale: The proieel siiirl date is 20 - May -20 16 Daie: The projecl end dat is 3 - Dec 2021 __1-iec Manager: h projeet_anager is Mr JamesN arti _Project Sponsor: The project sponsor is GoK tiroougia credil from Word 131nk ID .3 Project Overviev lie s e Ile p erojei is inder [ihe supervision oflie State Department for Labour DepartImlenI nf Ile proleel Projeci number P15 83 t15 183 r 'giga1s The stiraegie goaIs o (he proeclt are a;s 1ollowvs: L)l' te projcci (i _nh_n__ng access to labour markel info1rmation 1l Ikelva Youtl LnpIopnenut Opportunily Projeci Reporf.s and Financial Statemlents For he financial year eidled. JIiue 30, 2018 Achievement of The proe management aims lo achieve the goals tihrough the f`ollowing ieans: slategic goals (i) Identification of Labour Maoke lnformiati systei users and specif'ying their needs. (ii) Productilon of LVIIS conlent. (iii) Disseinatunjion of LMIS conlent and A vareness creationi Other Th1ie Kenya Youth lEployment opportunitics Projoelc (KYLE`OP) is a five-year Saf-ety net important projeet for vulilerabfle youti Funded witi a USD 50million eredit from te World Bank background Group and whosc development objective (PDO) is "to increase employment and carnings in1formation of opporunitis fr largeted youlths". Tlhe KYEOP is impiementeCl through four govornment the projeet agencies under fur comiponents as follows: Coiponenlt I: Training and Work Experience - lo be jointly implemented by the National Industrial Trai ing Atuthorily (NITA) and the Ministry of Public Service, Youth and Gender AfTiirs (MPY G) - USD75Million. o T'his coiponeilt aims to address the issue of skills mismatch by providing argeted yoult withtinings and inlernships ini the Private Sector. The objective is to enhance youth eiployabi lity. o The target is lo reach over 70,000 youth I. Componlent 2: Job Creationl - to be jointly implemented by the Micro and Siall l'Ilerprises Authority (MSEA) and the MPYG) - USD4 1.5 million. o This componeni aims to address the issue of' tIck of employment opportunitios. The objective is to create joibs and expand existing ones hrs increasing ean ings for youth interested in setlf-cmployment or vage emloIymen . o The larget is lo reach over 30,000 youth 2. Component 3: Improving Labour Market Ilfnrmation - to be inpleniented by the Ministry of East African Community AfTiirs, Labour and Social proteotion (MEACLSP) - USD 13.5 million o This Componeni ains lo address the issue of lack of labour market iniformation (LMI1). Tlhe objective is to enhance access lo LMI and ensure availabilily ol'qiiafily infoimation in a timely manner. 3. Comiponeii 4: Strengthening Youth Policy Developient and Project Management - to be inpleenled by the MPYG - USD 20mi1ion. o This coimponent aims to enhance the MPYG's capacity for youith policy formu latilon, development and monitoring and eva lulation as weil as suppor the establishinent and operaltiona flization of a projeci coordinatlion The MPYG is Ilie overall coord inator, even though each implemen ting agency receives and accounis for funds for Ilie KYlEOP> part under Ifiem separately; with Ilie NITA and MSEA receiving/report ing Ihrough their respective line niistries i.e. Ministiry of Industry, Trade aind Cooperatives and Ilie MEA CLSP respectively. The KYEOP is at ilie stage of implmentation readiness where cach implementing agency is in th proccss of,seliiig usystems and capaciy building the implementing teams. iii Itenypa 1 Youth IKlnil >hase on skilIsand occurpations in the secelor wvas designed in col laIboration wilh Ilie Kenya Nal ional1 Bureau. A piol phasc 0hlie survey was inderlaken in May 2 108 and the experiences sh ared wilh Ilie WBank. A report el 8i i trevid is I icoilendaltions foi Ilie maiin survey was lina lizedi aiic submnillted to CBD on 4ix ajuno l2n. A revised budget ir ed by Ilie pilol was subiitted on 4h11 Juie 201 8. Blocking of C13es in sIx fnaor lowns was done helvveen 2 si and 30(l1 une for purposes of Listiig of -Iouseholds and 2llerpriscs 8 il enedaT 1tias i samplin. A No 1>jee ion to underiake Ilie main survey was granled on I' August 20 l 8 and a ToT is udersvay wiil i g of survey persoiel scheduled fior 260' AugusI 2018. Revision of' Ue Kenya National Occupaia Clfictiion(1NOCS workshop lo prepare Ilie Roacmlap to Update Ilie Kenya Nati ional Ocepa tional C assiity ofhio e nd [lie Donlestiea1jon of"l,lil International Slandard Industrial Clarsslicalii has been underiaken and KNOCS 200 milaped Io ISCO 08. 11nil1ia l commeniIs from slakeholders have ben recived and KilNiOCe e0g0emen tvilli Ilie pub!lic seclor players is beiine soliciled as ihea of vi-ious sei s of ser vice. Th Ministry of Pubic Service ias asked thlalMe r diii r ofvriu scee1o0evie h Moreic Snjrmasio Ihal all Mciinlilies /Departments and Agencies be requested to provide imor-e in iitill n(1 1 on cel11xa11ions. Domresfication of Interna1in1al Standard fi- Indust ria Clzissilc.tioll(IC) A coristilt.l(ive filu11 for Ilie Agi-i ii ie. Foresfry, aid Fish lng selor as held between 2611h May to 3rd Jine 20 18 and a domesticatecl ver-sioli of,Scetioii A of'ISIC Rev. 41 1)irepaed and Co-i-espondniciie Tables produced. The Domesticaled Draft v ft IiJnya >'onuh, I.ip) ien Opporlun liroject R?eport.s anzd Financial Siateent,,s or Ile financila year endled June 30, 2018 and the Conversion lables have been ciitated to tbe stakeholders in the sector for fiecback and eventual validation. Ilie forum for the Miing. Quarrying and ConstruCtion se( or was held from 5t1h to ll th June 2018. Ibe Manuciurng Sceor forum took place from 12th to 19th June 201 8. A ter each of these consultatlive meetings, drafls of the domesticated documenis including conversion tables were circulated to Ile stakeholders for crit ique and valuc addition. I,MIS Design: A technical Advisor has been contraced to guide the Ministry in the development of a world class LMI Systern and developa roafiap and a susta inability str aegy. An Incepion Report has been prepared and is to be shlared \vi Ilhe K1VI ~ l'S Tehn ical Workin- Groupl. P>rocurement of Goods 40 Desks and 37 chais have been delivered (Purchase requirenent was 50 of each). The balance will be pirchased during Ile next Filnancial Yea because the balances vere inadequate. 45 Desktop Computers and thieir- accesor-ies,and 10) Lapirop Conipulers have been del ivered. lPreuremeni of Tablets, power banks, cloud server:- Clearance of the specifications given by the Ministry of IfT. It is now a requiremen by the Governinenl that any procurernent of ICT and ICT related good a services be cleared by the Ministry of ICT. ChallPenges Iie läljeel iplsmentation Uni (MU) has not been able lo priur-e the two (2) projecl veh icles meani for the prqjeu. This was as a resuIt oFmission offunds under the lne ite by e nal freasury in the previous ginancia Year he bo m uppmentary budgets under FY 2) 1 7/ 8 have also not addressed the omission tho ughi req uesi had been in ade, fu rlfier (Iisad vanl ag ing thec 1,IU. ihe rudgelt Prin ed Fst imnates for the Financial Year 20 18/19 has provided for only Kshs. 2 10 Million against Ibje req esol t00 Million. Tfis neans thm Ihere will be need to write to the TreasurIy for adclclitional funds, SIlljCCI toalisorption whil (ichbe department is coilmmilled lo meeting the targel once activities starl. 1.9 Summxn111ar11y of PIrojecl Coi plianle: Ilie prqiel hias not encounltered any erise ofnon-compliance as it is opeiatig in lie wil te existig "()cl-lllcll renålns nd rineing arclei.Ieprqoject has formiled aprqiel inipleinentation urit \-vh ich wll hequ in ensuing tt thelie projet is imanaged in coninpance to enhance efficiency and effectiveness. We acis reques .,o no objc ion fiom the World Bank and use the approved work plan before under taking the vi Ilenya Youffi E,17pi ne/onien Opporunity Projecl Reports aind Finauicia/ Sailemens For ihe .fiiaicial year ended June 30, 2018 2. STATEIMENT 01P1>RO.JECT MANAGCEMENT RESPONSIBIITIES Th/incipa/ Secre/cu, for the Mf Sae Department for Labour and the ProjecI Coordinaior for Kenya yu(t 'iilploymient anid Opportunitijes project are responsible for the preparation and presentation of the ProlecC s financial statemienits, whieh give a truc and fair view of the stale of affiiirs of the Project for and as al the end of the financial year (period) endcid on June 30, 2018. This responsibili[y inIfcles: (i) rna intaining adeqna le hnancial ianagement arngemnent and ensuring that these continue to be effeciive throughou1t the reporling pienod: (ii) rnain1aining proper accounting records, whieh ldiselose with reasonable accuracy at any lime the hnancia l position of the ProjecI; (iii) designing, implementing and maintaining internal controls relevant to the preparation and fa ir presentalion of the financial statement, and ensuring that they are frec from imaterial misstatements, whether duce to error or fratid; (iv) safeguarding the assets of the Project; (v) seleCting, and applyig appropriate accounting policies; and (vi) making acconniing estimates that are reasonable i the cireimstances. The rincipa/ Scretary for the Ministry of State Department for Labour and the Projec/ Coorn/aor fior Kenya Youth Lmployment and Opportunities project accept responsibililty for the Project's financial statements, which have been prepared on the Cash Basis Methold of Financial Reporting, using appropriate accounting policies in accordance with International Public Seetor Accounting Slandards. The Prinipa/ Secre/ary for the Ministry of Stale Department for Labour and the Project Coordinaturfor Kenya Youth En.mploynient and Opportunities projeet are of the opinion Ihat the ProjeCt's financial statements give a nue and Kair view of tlie state of ProjeCt's transactions during Ilie financial year/period ended June 30, 201 8, and of the ProjeC Cs financial position as at that date. The Principal Secrelary for Ministry of State Department tor Labour and the Project (oordiiior for Kenya Yothl Emnip loymnen1t and Opport unii it ies projeet f11iiher con fim-i lie compleeness of the acconiing records mainlained ftb ile Projeet, whieh have been relied upon in the preparation of the Projeci hnanci1 statements as vell as the adequacy of the systems of internal financial control. Te Principa/ Secreta:y för the Ministry of State Department for Labour and the Prqjecl Coordinator for Kenya outh EmLployme.t and Opportuniies projec colini that lie ProjeCt has complied fliilly vitli applicable Governmient Regulations and the ternIs of external Vinancing Covenants, and that Project funds received during Ilie filancial year/penid under audit vere used for the eligible purposes for which tley wvere intended and were prop)erly accoutnted tor. Approval of the Project fiiicial statements ile Projeet fillancial statements were approved by the Princip/ Secre/ary for the miinistry of Stale Departmient for 1 bour ad the Projec O Coordinator for Kenya Youtli Blmploymnent and Opportuliities project 011 20 l 8 and sigiied by them. P>rrcpa1 Seretary Projlecl Coordinator Projec untani- Naiie:Dr. fbrahim M. Mohamed,CIBS Nanie:Iames Mani Name:Winnyrose Moran ICPAK Member Number: 1431 Vii REPUBLIC OF KENYA Telephone: +254-20-342330 P.O. Box 30084-00100 Fax: +254-20-311482 E-mail: oag@oagkenya.go.ke NAIROBI Website: wwwkenao.go.ke OFFICE OF THE AUDITOR-GENERAL REPORT OF THE AUDITOR-GENERAL ON KENYA YOUTH EMPLOYMENT OPPORTUNITIES PROJECT CREDIT NO. 58120 KE - FOR THE YEAR ENDED 30 JUNE 2018 - STATE DEPARTMENT OF LABOUR REPORT ON THE FINANCIAL STATEMENTS Opinion I have audited the accompanying financial statements of Kenya Youth Employment and Opportunities Project (KYEOP) Credit No. 58120 KE - State Department of Labour set out on pages 1 to 17, which comprise the statement of financial assets as at 30 June 2018, and the statement of receipts and payments, statement of cash flows and statement of comparative budget and actual amounts for the year then ended, and a summary of significant accounting policies and other explanatory information in accordance with the provisions of Article 229 of the Constitution of Kenya, Section 35 of the Public Audit Act, 2015 and Credit Agreement No. 58120 KE dated 04 July 2016 between the International Development Association (IDA) and the Government of Kenya. I have obtained all the information and explanations which, to the best of my knowledge and belief, were necessary for the purpose of the audit. In my opinion, the financial statements present fairly, in all material respects, the financial position of Kenya Youth Employment and Opportunities Project - State Department of Labour as at 30 June 2018 and of its financial performance and its cash flows for the year then ended, in accordance with International Public Sector Accounting Standards (Cash Basis) and comply with the Credit Agreement dated 04 July 2016. Basis for Opinion The audit was conducted in accordance with International Standards of Supreme Audit Institutions (ISSAls). I am independent of Kenya Youth Employment Opportunities Project in accordance with ISSAI 30 on Code of Ethics. I have fulfilled other ethical responsibilities in accordance with the ISSAI and in accordance with other ethical requirements applicable to performing audits of financial statements in Kenya. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion. Key Audit Matters Key audit matters are those matters that, in my professional judgment, are of most significance in the audit of the financial statements. There were no Key Audit Matters to report in the year under review. Report ofthe Auditor-General on the Financial Statements of Kenya Youth Employment Opportunities Project Credit No. 58120 KE -for the year ended 30 June 2018 - State Department ofLabour PromotingAccountability in the Public Sector Other Matters Budget and Budgetary Performance 1. Receipts The Project had budgeted to receive Kshs.146,000,000 from external development partners but actual receipts amounted to Kshs.129,990,741 resulting to a shortfall of Kshs.16,009,259 or 11%. The shortfall was attributed to the underutilization in the various activities by the project management and hence the non-reimbursement by the financiers. This trend may impact negatively the achievement of project objectives and goals. 2. Payments The project had budgeted to spend Kshs.146,000,000 but actual payments for the year amounted to Kshs.58,557,680 resulting to a underutilization of Kshs.87,442,320 or 60% as follows: Item Final Budget Actual Utilization Under Payments Difference Utilization Kshs. Kshs. Kshs. % Purchase of goods & services 132,500,000 50,068,630 82,431,370 62 Acquisition of non-financial assets 13,500,000 8,489,050 5,010,950 37 Total 146,000,000 58,557,680 87,442,320 60 The low absorption of funds was attributed largely to delay in the kickoff of the informal sector survey which is stated as the main activity of the project. Management was advised to speed up project activities to enhance absorption of project funds. REPORT ON LAWFULNESS AND EFFECTIVENESS IN USE OF PUBLIC RESOURCES Conclusion As required by Article 229(6) of the Constitution, based on the procedures performed, I confirm that, nothing has come to my attention to cause me to believe that public resources have not been applied lawfully and in an effective way. Basis for conclusion My responsibility is to express a conclusion based on the review. The review was conducted in accordance with ISSAI 4000. The standard requires that I comply with ethical requirements and plan and perform the audit to obtain about whether the activities, financial transactions and information reflected in the financial statements are in compliance, in all material respects, with the authorities that govern them. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my conclusion. Report of the Auditor-General on the Financial Statements ofKenya Youth Employment Opportunities Project Credit No. 58120 KE -for the year ended 30 June 2018 - State Department ofLabour 2 REPORT ON EFFECTIVENESS OF INTERNAL CONTROLS, GOVERNANCE AND RISK MANAGEMENT SYSTEMS Conclusion As required by Section 7 (1) (a) of the Public Audit Act, 2015, based on the procedures performed, I confirm that, nothing has come to my attention to cause me to believe that internal controls, risk management and overall governance were not effective. Basis for conclusion My responsibility is to express a conclusion based on the review. The review was conducted in accordance with ISSAI 1315 and ISSAI 1330. The standard requires that I plan and perform the audit so as to obtain assurance about whether effective processes and systems of internal control, risk management and governance was maintained in all material respects. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my conclusion. REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS As required by the International Development Association and financing agreement for Kenya Youth Employment Opportunities Project, I report based on my audit, that: i. I have obtained all the information and explanations which, to the best of my knowledge and belief, were necessary for the purpose of the audit; ii. In my opinion, adequate accounting records have been kept by the Project so far as appears from the examination of those records; and, The Project financial statements are in agreement with the accounting records and returns. Responsibilities of Management and those Charged with Governance Management is responsible for the preparation and fair presentation of these financial statements in accordance with International Public Sector Accounting Standards (Cash Basis) and for maintaining effective internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error and for its assessment of the effectiveness of internal control, risk management and governance. In preparing the financial statements, management is responsible for assessing the Project's ability to sustain services, disclosing, as applicable, matters related to sustainability of services and using the applicable basis of accounting unless the National Government either intends to liquidate the Project or to cease operations, or have no realistic alternative but to do so. Report ofthe Auditor-General on the Financial Statements ofKenya Youth Employment Opportunities Project Credit No. 58120 KE - for the year ended 30 June 2018 - State Department ofLabour 3 Management is also responsible for the submission of the financial statements to the Auditor-General in accordance with the provisions of Section 47 of the Public Audit Act, 2015. In addition to the responsibility for the preparation and presentation of the financial statements described above, management is also responsible for ensuring that the activities, financial transactions and information reflected in the financial statements are in compliance with the authorities which govern them, and that public money is applied in an effective manner. Those charged with governance are responsible for overseeing the Project's financial reporting process, reviewing the effectiveness of how the entity monitors compliance with relevant legislative and regulatory requirements, ensuring that effective processes and systems are in place to address key roles and responsibilities in relation to governance and risk management, and ensuring the adequacy and effectiveness of the control environment. Auditor-General's Responsibilities for the Audit The audit 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 in accordance with the provisions of Section 48 of the Public Audit Act, 2015 and submit the audit report in compliance with Article 229(7) of the Constitution. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISSAls will always detect a material misstatement and weakness 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. In addition to the audit of the financial statements, a compliance review is planned and performed to express a conclusion with limited assurance as to whether, in all material respects, the activities, financial transactions and information reflected in the financial statements are in compliance with the authorities that govern them and that public resources are applied in an effective way, in accordance with the provisions of Article 229(6) of the Constitution and submit the audit report in compliance with Article 229(7) of the Constitution. The nature, timing and extent of the compliance work is limited compared to that designed to express an opinion with reasonable assurance on the financial statements. Further, in planning and performing the audit of the financial statements and review of compliance, I consider internal control in order to give an assurance on the effectiveness of internal controls, risk management and governance processes and systems in accordance with the provisions of Section 7 (1) (a) of the Public Audit Act, 2015 and submit the audit report in compliance with Article 229(7) of the Constitution. My consideration of the internal control would not necessarily disclose all matters in the internal control that might be material weaknesses under the ISSAls. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that misstatements caused by error or fraud in amounts that would be Report ofthe Auditor-General on the Financial Statements ofKenya Youth Employment Opportunities Project Credit No. 58120 KE -.for the year ended 30 Jume 2018 - State Department ofLabour 4 material in relation to the financial statements being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. Because of its inherent limitations, internal control may not prevent or detect misstatements and instances of non-compliance. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with Project's policies and procedures may deteriorate. As part of an audit conducted in accordance with ISSAls, I exercise professional judgement and maintain professional skepticism 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 override of internal control. * Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management. * Conclude on the appropriateness of the management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Project's ability to continue as a going concern or to sustain its services. If I conclude that a material uncertainty exists, I am required to draw attention in the auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify my opinion. My conclusions are based on the audit evidence obtained up to the date of my audit report. However, future events or conditions may cause the Project to cease to continue as a going concern or to sustain its services. * 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. * Obtain sufficient appropriate audit evidence regarding the financial information and business activities of the Project to express an opinion on the financial statements. * Perform such other procedures as I consider necessary in the circumstances. I communicate with the management regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that are identified during the audit. Report ofthe Auditor-General on the Financial Statements ofKenya Youth Employment Opportunities Project Credit No. 58120 KE -for the year ended 30 June 2018 - State Department ofLabour 5 I also provide management 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. FCPA Edward R. 0. Ouko, CBS AUDITOR-GENERAL Nairobi 27 December 2018 Report ofthe Auditor-General on the Financial Statements ofKenya Youth Employment Opportunities Project Credit No. 58120 KE -for the year ended 30 June 2018 - State Department ofLabour 6 Aeny L rou'ti>' <)1I IinipIoy!neH'n (pportiuz u Ity roject Reporls and Financial Siatements For Ihe fniaicial year Ieidled .Iune 30, 2018 - STFATEMENT 01? RECEIPTS AND PAYMENTS FOR THE PERIOD ENDED 30'T-1 JUNE 2018 Nolc ICumuIative 201 7/18 2016/17 to-date RecCei)ts Receipts anud Payme iints and Paymlenlts paymnenit mande by payments made by controlled by third C<>Itrolled tiird the en tity pafies by the enity parties KSils KShs KSIhs _ KShls KShS Loa n from exlernal evCelopmen partners 8.3 29,990,741 - 4 1,406,521 - 171,397,262 TOTAL, ULCEII---S 129,9901741- 41,406,521 - 171,397,262 PA YMENTS erijrecibse f goods_a_d 8__ 50,068,630 19,962,819 - 70,03 I,4 9 Acquisiilon ofion- 84.-5 linancial assels 84 89,050 8,489,050 TO1TA ¯- AMENTS80 - 19,962,819 - 78,520,499 SUJRPLUJS j7,3, 71,433,061 21,443,702 - 92,876,763 The accouniting policies anld explanatory noles to Ihese financial slatements are an integral part of the hnanIei sta te men Is. I P11111iipa1 Serelary Project Coocinitor Prolee, ecountiant Name:Dr. Ibrahim M. Mohamed,CB3S Naime:.iames Maru Name:Winnyrose Moraa ICPAK Member Number: 11431 ft ely Youffit/Iih 'plojymienti Op1anlllitjy Project Reports amd Fiinnciii Salemlen.v F"or Ile financial year ended June 30, 2018 5. STATEMENT OF FINANCIAL ASSETS AS AT 30T11 .UNE 2018 Nole 2017/18 201( - - KShs KSs FINANCIAL ASSETS Ciash and Ca1sh1 Equivalen(ts Bank Balances 8.6.A 92,876,763 2 1,443,702 TA L FINANCIA L ASSETS 92,76,763 21,4 REPRESENTED BY Ilind balance b/fwd 3.7 21,443,702 Surplus for the year 71,433,061 21,443,702 NET FINANCIAL POSITION 92,876,763 21,,7>2 Ilie accounting poliicies and explanatory notes to these financial su tements form an integral part of the hnancål silenents. The linancial staements were approved on t-2018 and signed by: Principl serelary frojectl Coordinalor Project Accountanl- Name:Dr. Ibrahimn M. Mohamed,CBS Name:james M 1au Name:Winnyrose Moraa ICPAK Member Number: l 143 1 2 enyau 'oii ui'.mpo ymen p3 (pprtu1i1y Project Reporis and Finalca Sfatemnents For fhe financia1 .ear entted June 30, 2018 6. STATEVIENT OF CASHFILOW FOR T-lE PERIOD ENDED 30TH JUNE 2018 2017/18 2016/17 Note ___Ss _Shs Paymnenits for operiting etivities 'ulcliash of goo1s andsl-vices 8.4 50,068,630 19,962,819 Nei cash_flow f-ro>m operating activities (50,068,63)_ (19,962,819) CASIFLOW FROM INVESTING ACTIVITIES Acquisition of Assels ------- 8,489,050 Nel cash flos froi Invesiiig Aclivitics (8,489,050) CASII FLOW FROM BORROWING, ACTIVrTiEs Loan fir external development pa s 8.3 129,990 ,7 4, 4 1,406,521 Nel cash í ffi-rom financing activicties 129 ,9 9 0 ,7 41 0 41,406,521 NET INCREASE IN CASI-I ANI) CASI-i EQUIVALE NT 71,433,061 21,443,702 _Casliami casi equiva [ei i a i 1 EG INNI NG of the year 21,443,702 L4_Cashìl cash equivalt at END of the year 92,876,763 21,4 4 3 ,7 0 2 I1l11Caccomitii- poilleles .111( CNI.iator), miles lo (ihese lianicial staeicì l?ps l'onrn'1 Il ieorai pal-101L11hC 1liali ilI sia ielits. The ei i ne ia 1 st a llei ts vlc a pproved i 2<182int siglcdiby: Principal Secreany ProICC Coordinator Prcn[: Namie:Dr. Ibrahimi M. Mohamed,C1BS NaJanics Maru Naniec I3ros noa ICPAK Menber Nuniber: 143 1 3 enyai 7( Y'On liii)mploymntu Opportmnity Projeci Reporis and Financitl Stafemens For thefinanlcial year ended Jmne 30, 2018 7. S'A'TEj\MENT 01? COMI>ARATIVE BUDGET AND ACTUAL AMOUNTS Actual on Mudge % o -Ie1i Bugna Com pai ra ble Utilization Utilizat ISASB1. The accounting policies adopted have been consistent ly applied to all the yea-s presented. 8. 1.2. Repor-ting en tity ile financial statements are for Ile Kenya Youth1 Fmploymen t Opportunity Projecl under National (overnincnt of Kenya. ,0 financial statuents encompass the reporting enlity as specified in the relevant legislat ion IFM Act 2012 . 8.1.3. Reportinlg curt-ency The financial statements are presented in Kenya Shillings (KShs), which is the functional and reporing cuirrency of t ne roject and all values are rounded to the nearest Kenya Shilling. 8.2. Significanut Accouting Policies a)iRecognition of receipts Ihi lrC-ject recogn ises all recipts 1,o0i the various sources when lhe event oceurs and the related emsh has acehia ll), been reeceived by thc (joverninent. Sransfers rom the Exchequer T f frn ixchequer is be recognized in the books of accounts when cash is received. Cash is Considered as reccimd when payment instruction is issued fo the bank anld notified to the receiving ent ith. e External AssistncC Fxlternal ass ist ane is received through grants and loans from iltilat era and bilateral developimentl partie5s. 5 Iln Y(l out/ E OPIo11111ity Project Reports a(m/ Fi cil Staternen For t1lefinlanicial-Pear 'nted IJule 30, 2018 SIGNIFICANT ACCOUNTING POLIIES (Continued) Dtatio intd w rts Grants and donations shall be recognized in the books of accounts when cash is received. Cash is considered as received when a payment advice is received by the recipient entity or by the beneficiary. In case of grant/donation in kind, such grants are I-C recorded upon reci)t of the grant iten and upon determination of the value. The date of the transaction is the value date inlicated on the payment advice. Proceelds froi horrowinli 130rrowing icludes Treasury bill, treasury bonds, corporate bonds, sovereign bonds and external lonis acquired by the Project or any other dcbt the Project may take on will be treated on cash basis and recognized as a receipt during the year they were received. Undrawnn e'xterl/ aissistance' These are loans and grants at reporting date as specified in a binding agreement and relate to lnding for the Project currently under development where conditions have been satisfied or their ongoing salisfction is highly likely and tie project is anticipated to continue to completion. An analysis oft (le Project's undrawn external assistance is shown in the finding summary o Other receipts These include Approprition-in-Aid and relates to receipts such as procceds from disposal of assets and sale of tender documents. These are recognised in the financial statements the time associated cash is received. b) Recogni tion of piyvm entIs The Project recognises all payimenis wh'eln the event occurs and the related caSh has actually been paid out by the llroject. * Compensation of emllployees Salaries and Wages, Allowances. Statutory Contribution for employees are recognized in the period when the compensation is paid. a Use of goods and services Goods and services are recognized as payments in the pCriod when the goods/services are consumed and paid for. Ift not paid for during the period where goods/services are consumed, they shall be disclosed as pending bills. * Interest on horrowing 3orrmowing costs that include interest are recognized as payment in the period in which they incurred and paid for. 6 Ri elY OU E l mploy'mni OppIrIuity Project Reports an1(d Financial Staieeins For the .fiinncial jear eided June 30, 2018 SIGNIFICANT ACCOUNTING POLICIES (Coiintinued) * Repayim enlt of ho rowi ng (p-i icipi aIIon t) 'The repayment of principa amouni or borrowing is recognized as payment in the period in which the repayment is made. The stock of debi is disclosed as an annexure to the consolidated hnancial statemens. * Ac(tiisition of fixe(i assets The payment on acquisition of property plWn and equipmnt items is not capilalized. The cost of acquisition and proceeds from disposal of these items are Ireated as payments and receipts ilems respectively. Where an asset is acquired in a non-exchange Iransaction for nil or nominal cOnsideraltion and the hiir value or the asset can be reliably established, a contra transacion is recorded as receipt and as a payment. A fixed asset regisler is maintained by each public entity and a summary provided [`6r purposes of consolidallon. This Summary is disclosed as an annexure to the consolidated financial saiments. c) In-kiid donations in-kind con tribut ions are donations that are made to the Project in the form of actial goods and/or services rather than in money or cash terms. These donations may include vehicles, equipient or personnel services. Where the financial value received for in-kind contributions can be reliably determined, the Project includes such value in the statement of receipts and payments both as receipts and as payments in equal and opposite amounts; otherwise, the contribution is not recorded. () Cash [fndl cash equivalcuts Cash and cash equivalents comprise cash on hand and cash at bank, short-term deposits on call and highly liqUid investmentIs with an original maturity of Iree month[is or less, Which are readily convertible to known amounts of cash and are subject to insignificant risk of chantges in value. 13ank account balances iMncde amounts held at the Central Bank of Kenya and at various comme-cial banks at the end of the financial year. [or the purposes of these financial statements, cash and cash equivalents also inclde short term cash impirests and advances to authorised public officers and/or institutions which were not suri-endered or accounted f>r at the end of he financial year. Restictioi on cash Restricted cash represents amounts that are limited/resiricted firon being used to settle a liability for at least N.iwelve months af'ter the reportino period. This cash is limited for direct use as required by slipulation. Amounts maintained in deposit bank accounts are restiictCd fo- use inl relunding third part deposits 7 ItelHya Youthlimponel OPPOrb111ilit Project RepiorsI. and Financial Statements or 1 //e financial Yle'r ended June 30, 2018 SIGNIFICANT ACCOUNTING POLICIES (Continuled) e) Accounts receivable For the purposes of these financial statcments imprests and advances to authorised public officers und/or instittions which were not surrendered or accounled for at the end of the financial year is Waited as receivables. lhis is in recognition of the government practice where the imprest payments are recognized as payments when fully accounted for by the imprest or AlE, holders. This is an enhancement to the cash accounting policy. Other accounts receivables are disclosed in the Financial statements. 1) Pending bills Pencling bills consist of' unpaid liabilities at the end of the financial year arising from contracted goods or services during the year or in past years. As pending bills do not involve the payment of cash in the reporting period, they recorded as 'memorandlum or 'off-balance' items to provide a sense of the overall net cash position of the Project at the end of the year. When the pending bills arc flially settled, such paynlienis are included in the statement ot receipts and payments in the year n w.h ich the paym entIs ari- mad(1e. g) Budget 'ilhe budget is developed onl a comparable accounting basis (cash basis), the samlie account(s classilIcation basis (except for accotiliIs receivable - on(standling ipest an clearmice accounts and accounts payable - deposiis, which are accounted for on an accrual basis), and6 for the same period as the financial statements. The Pnyect's budget was approved as reqUired by Law and National Treasury Regulations, as well as by the participaling developmenI part ners as detailed in the Governmeit of' Kenya 3ulget Printced Estimates for the year-. The Development Prqjcts imre budgeted flor umndler the M DAs but receive bUdgeted l'unds as tr-ansfeLrs and account fo-I them searIately These transfers are recognised as inte-entity inansfbrs and are eliminated upon conlsolidation. A high-level assessment othe lroject's actual perfomance against he comparable budge fOr the Financil year/period under review has been included in an annex to these financial statements. h1) Third panrty payienis Included in the receipts and payments, are payments made on its behalf by to third parties in form of loalls and g..rants. These payments do nut constitute cash receipts and payments and are disclosed in te payment to third parties column in te stament ofm cpts and paymens. Dlin g hie year Kshs icil billion being loan disbursements were received in form of direct paymlents from tIird fpiarties. Kenyau Youth Emloymen OPPOn-1uni1Y PIroject Relports and11 Fiiincial Sttlempenis For the financial year eiidetl JIuie 30, 2018 SIGNIFICANT ACCOUNTING POLICIES (Coiitiiiiied1) i) Exchinge rate differences The accounling records are uaintained in the functional currency of the primary Ceonomic environment in vlich lhe Projeet operates, Kenya Shillings. riansactions in foreign cirrencies during the year/period are convered into Ilie functjionlal curreney using the exchange rates prevailing at the dales of the transaetions. Any foreign exehange gains and losses resulting from the seitlement of such transactions and from the translation at year-end exchange rates of monetary assets and Wiabilities denominated in freign currncies are recognised in the statements of receipts and paymnents. j) Comparative fligtres Where necessary comparalive figures for the previous financial year/period have been amended or reconfigu red to coniiiform to the required changes in financial siatement presentation. k) Subseu(lezt events iere have been no events subsequent to the financial year/period end with a significant inpact on the fiancial statements for Ihe year ended June 30, 2018. 1) Erro>rs Mllerial prior period errors shll be corrected retrospectively in the first set of financial statements authorized 66r issue aflter their discovery by: i. Restating dhe comparalive amounts for prior period(s) presented in which the error occurred; or ii. If the error occurred befbre the earliesi prior period presented, restating the opening balances of assets, iabilities and no assets/equity for the earliesi prior period presented. 9 Aenyai Youhz Imp/oymen Opporulniily Project Reporls and Financial Slaemenis For the financial year enlded June 30, 2018 NOTES TO T1- E FINANCIA L STATEMENTS (Continued) 8.3. LOAN FROM EXTERNAL DEVELOPMENT PARTNERS During (lie 12 months to 30, une 20l8 we received fliding ,li dcevelopient partners in form of loans negoialed by National Treasury donors as detailed in the table below: Lo.tns Received fromi Bilateral Donors (Foreig overnmlientis) World Bank (IDA) 4 1,406,52 29.08.20 17 I10700 1 ,409,819 - 11,409,849 _ 03.04.20 18 191,849.80 19,329,467 - 19,329,467 08.05.2018 991,324.65 99,251,424 - 99,25 1,424 - Total 1,293,874.45 129,990,741 129,990,741 41,406,521 8.4. PURCHASE OFG OODS AND SERVICES -'I-- - - - - - - - - - -i _KShs KShis KSis KiShs KShs Domslie 1ravel and 30,218,969 - 30,218,969 1 1,774,733 41,993,702 subsistenie - - - -_ Foreijn iiravel and 4,397,235 -1,397,235 4,5 I0,000 8,907,235 suibsistenlce Prin ing, advert ising and 43,00 - 43,000 4 m n supplies & ser,vices _l~rini1ng expenss _8,167,371 .. 8, 167,371 1,554,581 9,721,955 H ospialily supplies and 4,7 I 4,770 - 4.714,770 1,622,502 6,337,272 serVices Specialised malerials and 1,504. 185 - 1.504,185 - 1,504, 185 s.r ces Ene! ol and lubricamis_ 1,023, l 00 1,023,100 1,023. 100 Ohe.r operating_exp_enses 1- 5 ,000 501,000 ______________~ }&643_1 _____ 5IL6LÁ3i3 1996,819 21RL_f4_49 1|Provide exlanation tis necessury 1 0 lenyat Y'oumi OPPpometOortuni1y Project Report.v and Financil SItaements -For th finalciai year ended Jiume 30, 2018 NóTES TO TIE FINANCIAL STATEMENTS (Continuied) 8.5. ACQUISITION OF NON-FINANCIAL ASSETS KShs KShs8 KShs KSlis KShs Pur-chase of ICTANetworking H49008445 A45 and commnulication equtipmntns 8,9,584900g4g05 .j*flN>',4 - L). 0I 8.6. CASH AND CASH EQUIVALENTS CARRIED FORWARD 13nk aounws (Noe 8.6A) 92,876,763 21,443,702 Toai ____ ________9i~,876,763 21 43,1l2 The proieel has one n1mber ofu pro[et acconts spread within (he project implementaion area and one number of koreign eunrrncy designated accounts managed by ihe National Treasury as listed below: 8.6. A Bank Accoun( Projecl Bank Accouti Loc,al Currencv Accoutfis Central 3ank of Kenya JA/c No:1000320467] 92,876,763 21,443,702 Toal banuk accouni bainces _ 21é4431.Z Special Deposit Accounis The balanees ii the Project's'Special Deposil Accouni(s) as al 30I' June 2018 are not incItuded in ie Statement of l',inancal Asses since Ihey are bclow the inc items and are yem to be drawn ihno *he Exchequer Account as a voted provision. Below is lhe Special Deposi Account (SDA) movemeni schedule which shows the flow of funds that were voted im the ycar. These funds have been reportcd as loans/grants reccived in the ycar under lhe Statement of Receipis and Payments. I | Aeny v 'a Yothl InIployinent Opportnh11ity Projelc Repor.v and Finanicial S1ate11eents Fmn-te financial year ended eJ e 30, 2018 NOTES TO TilE FINANCIAL STATEMENTS (Continued) Speciil Deposit Acconts (Confinued) Special Deposit Accounits Movenient Schedile (i) A/C N:anne IA/c No: 10003086561 Opein ing balance 110,728 Tolt1l moun1t1 deposited in the accouni 3,309,196 ToUtl am t1ount withdrawin by K Y EOP I,abour (as per Siatement of, Receipts & Paynenis) Tola amtount withdrawn KYEOP N TA (,526,079) Ital amnount al National Treasuiry-- amom l a N11i01,111-l-IISIIY(255,500) Ciosing bla nce (as per SDA hank acco1unt reconiition attached/) 344,47f___10,72 The Special Deposit Aceoun«s) reconci i ation statem]ent(s) has (have) been at tached as Appendix iv to suppor, iltese closing balances. 8.7. FLND BALANCE BROLGHT FORWARD 13nnk accounts 4 ,143,702 Totffal2-,43J 12 Ken-ya Youth Emiployinent Opportiy plroject Reporls aud Finuncial Statenis For Ihe.finnicial year ended June 30, 2018 9. OT-1 ER IMPORTANT DISCLOSURES 9.1 PENDING ACCOUNTS PAYABLE (See Annex 2A) Supply of_goods 275,554 - Supply of services 1,399,500 .. 13 eaL)Jt YouithI EnzpIoymnt, OpportunIity Project Repors aind Finanicial Statenenis FMn-tefinancialy ended June 30, 2018 10. PROGRESS ON FOLLOW UP OF A UDITOR RECOMMENDATIONS Ihe following is Ilhe suiimalry of issues raised by Ihe exIernal auditor, and miagement commiienis Ilhal were providec to the auditor. We have nominated focal persons lo resolve Ihe various issues as shown below vith hl iassocialed ime frame within which wc expecI fhe issues lo he isolved. !jY N/A he PoeL had noadi Guidance' Aites: (i) Use he same rerreice numbers as conained in [Ihe exte-nali audit reporl; (i i) Ob[ain -h Issue/Observation" and anagement coniments", required above, fromi flnali exlernial audi report !hal is signedl by Managemenl; (iii) Before approving the reporl disuss ie liimefraime with the appoinied Focal Poini persons wilhin yotir eilily responsible for imlplemenalion oreach issue; (iv) lndicale the sabus or "Resolved" or "Not Resolved" by the dale of subiitting this report l Na ti ona I Tirasti ry. 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Г- cv v �� �. � � ш га О � � �„ % U т т и -,�; и W 0 � ._ _ _ . '' � а � �, - а �- •- �= �' � ��� � 11, i W\ Kenya Stil Sep[ember, 20 l 8 CERTIFICATE OF BALANCES Customer: 131180 STATE DEPT FOR LABOUR Balance Date: 29-Jun-18 Account No Account Narne Currency Baiance 1000303166 REC-STATE DEPT FOR LABOUR KES 11,1 z14,280.05 1000303174 DEV-STATE DEPT FOR LABOUR KES "~[-----557,879-05 1000:1103198 DEP-STATE DEPT FOR LABOUR K ES 9,106,777.30 '1000303204 l CH165-STATE DEPT FOR LABOUR KES 0.00 10(ý0320467 I KENYA YOUT11 EMP OPP PROJ ACCOUNT A KES 105,1334,{}67.ý,5 1. K. RWERIA M. R. K. KIPTEPKLIT AUTFJORISED SIGNATORY ALITI-10RISED SIGNATORY BANKING SERVICIES BANKING SERVIC1-5 REPUBLIC OF KENYA F.o. 30 STATE DEPARTMENT FOR LABOUR KENYA YOUTH EMPLOYMENT &OPPORTUNITIES PROJECT PROJECT I184-BANK RECONCILIATION REPORT AS AT 30TH JUNE 2018 KSH. CTS KSH. CTS BANK BALANCE AS PER BANK STATEMENT 105,934,867.95 Less 1&2 I Payment in cashbook not in bank. 13,058,105.00 2 Receipts in bank not in Cashbook Sub-total 13,058,105.00 13,058,105.00 Add: 3 &4 3 Payment in Bank not in Cashbook 4 Receipts in Cashbook not in bank Sub-total BANK BALANCE AS PER CASHBOOK 92,876,762.95 "I certify that I have verified the Bank Balance in the cash book with the bank statement and that the above reconciliation is correct". Signature _____ Designation 4( CC Date 0 1u PROJECT 1184 I STATE DEPARTMENT FOR LABOUR KENYA YOUTH EMPLOYMENT &OPPORTUNITIES PROJECT PAYMENT IN CASHBOOK NOT IN BANK AS AT 30TH JUNE 2018 DATE VOUCHER NO PARTICULARS AMOUNT REMARKS 30/6/2018 62132 Interiass Technologies 8,049,961.20 30/6/20 18 " VAT " 439,088.80 30/6/2018 2422 S Irungu 30,000.00 30/6/2018 2131 Freesteen 40,055.00 30/6/2018 2130 Freesteem 122,100.00 30/6/2018 2128 NITA 135,000.00 30/6/2018 2167 NITA 270,000.00 30/6/2018 2168 NITA 292,500.00 30/6/2018 2745 P Nyariwo 4,500.00 /2018 2745 M Angir 9,000.00 30/(l2018 2619 S Gathoronjo 22,400.00 30/6/2018 2013 E Ngugi 43,000.00 30/6/2018 2296 T Oloo 56,000.00 30/6/2018 2744 KNLS 635,344.85 30/6/2018 " VAT" 34,655.15 30/6/2018 2072 Bontana 2,068,663.80 30/6/2018 " VAT" 112,836.20 30/6/2018 2619 Sarova Pan Afric 657,155.15 30/6/2018 " VAT" 35,844.85 TOTAL UNCLEARED EFFECTS 13,058,105.00 - - --- ~ -AIR PROJECT 1184__ _ _ _ _ _ _ _ _ _ STATE DEPARTMENT FOR LABOUR___________ KENYA YOUTH EMPLOYMENT &OPPORTUNITIES PROJECT ______ RECEIPTS IN BANK STATEMENT NOT YET RECORDED IN CASHBOOK AS AT 30TH JUNE 2018 DATE CREDIT NO. PARTICULARS AMOUNT REMARKS TOTAL UNCLEARED EFFECTS 0.00 PAYMENTS IN BANK STATEMENT NOT YET RECORDED IN CASHBOOK DATE CHEQUE NO. fPARTICULARS AMOUNT REMARKS TOTAL UNCLEARED EFFECTS PAYME NTS IN BANK STATEMENT NOT YET RECORDED IN CASHBOOK DATE CHEQUE NO. PARTICULARS AMOUNT REMARKS ______ _____ _____ ______ _____ _____0.00 _ _ _ _ _ _ _ _ TOTAL UNCLEARE D EFFECTS 0.00 ___RECEIPTS IN CASHBOOK NOT YET RECORDED IN BANK STATEMENT DATE RECEIPT NO. [PARTICULARS AMOUNT REMARKS _____TOTAL UNCLEARED EFFECTS ________ jl STATEMENT OF ACCOUNT CENTRAL BANK OF KENYA BANKI KUU YA KENYA, P.O.BOX 60000-0200, NAIROBI. STATEMENT PERIOD: From 30 JUN 2018 To 31 JUL 2018 No. Value Date Reference ( Transaction Details Dr. Amount Cr. Amount Balance 1 2-Jul-18 FT18183M- TRFS Payments 439,088.80 0 105,495,779.15 8000466 Withholding Tax 2 3-Jul-18 FT18184WF Outward RTGS Paymen 30,000.00 0 105,465,779.15 8000464 STATE DEPT FOR LABOUR:999999 SIMON IRUNGU MAINA 8000464 STD002422 3 3-Jul-18 FT18184KSI Outward RTGS Paymen 40,055.00 0 105,425,724.15 8000468 STATE DEPT FOR LABOUR:CBK FRESTEEM AGENCY /REC/0008000468 STDO02131 4 3-Jul-18 FT18184HSI Outward RTGS Paymen 122,100.00 0 105,303,624.15 8000467 STATE DEPT FOR LABOUR:CBK FRESTEEM AGENCY /REC/0008000467 STDO02132 5 3-Jul-18 FT18184MC Outward RTGS Paymen 135,000.00 0 105,168,624.15 8000469 STATE DEPT FOR LABOUR:CBK NATIONAL INDUSTRIAL TRAINING AUTHOR /REC/0008000469 STDO02128 6 3-Jul-18 FT18184VLr Outward RTGS Paymen 270,000.00 0 104,898,624.15 8000471 STATE DEPT FOR LABOUR:CBK NATIONAL INDUSTRIAL TRAINING AUTHOR /REC/0008000471 STDO02167 7 3-Jul-18 FT18184J81\ Outward RTGS Paymer 292,500.00 0 104,606,124.15 8000472 STATE DEPT FOR LABOUR:CBK NATIONAL INDUSTRIAL TRAINING AUTHOR /REC/0008000472 STDO02168 8 3-Jul-18 FT18184W('Outward RTGS Paymen 8,049,961.20 0 96,556,162.95 8000470 STATE DEPT FOR LABOUR:999999 INTERMASS TECHNOLOGIES EA LIMITED 8000470 STDO02132 9 4-Jul-18 FT18185STE TRFS Payments 34,655.15 0 96,521,507.80 /%itU 8000486 Withholding Tax 10 4-Jul-18 FT1818558. TRFS Payments 112,836.20 0 96,408,671.60 8000487 Withholding Tax 11 5-Jul-18 FT1818608(Outward RTGS Paymen 4,500.00 0 96,404,171.60 8000484 STATE DEPT FOR LABOUR:999999 PETER NYARIWO ANGONG'A 8000484 STD002745 12 5-Jul-18 FT181867M Outward RTGS Paymen 9,000.00 0 96,395,171.60 8000485 STATE DEPT FOR LABOUR:CBK MELDAH ANGIR /REC/0008000485 STD002745 13 5-Jul-18 FT18186LQ Outward RTGS Paymer. 22,400.00 0 96,372,771.60 8000474 STATE DEPT FOR LABOUR:CBK SAMUEL NDUNGU GATHORONJO /REC/0008000474 STD002619 14 5-Jul-18 FT18186DK Outward RTGS Paymen 43,000.00 0 96,329,771.60 8000475 STATE DEPT FOR LABOUR:CBK ESTHER WANJIKU NGUGI /REC/0008000475 STD002013 15 5-Jul-18 FT18186DC Outward RTGS Paymen 56,000.00 0 96,273,771.60 8000473 STATE DEPT FOR LABOUR:CBK TOM OTIENO OLOO /REC/0008000473 STD002296 16 5-Jul-18 FT18186Q1 Outward RTGS Paymen 635,344.85 0 95,638,426.75 8000488 STATE DEPT FOR LABOUR:999999 KENYA NATIONAL LIBRARY SERVICES 8000488 STD002744/1 17 5-Jul-18 FT1818671Outward RTGS Paymen 2,068,663.80 0 93,569,762.95 8000489 STATE DEPT FOR LABOUR:999999 BONTANA HOTEL 8000489 STD002672/1 18 9-Jul-18 FT18190XOTRFS Payments 35,844.85 0 93,533,918.10 8000498 Withholding Tax 19 10-Jul-18 FT181914HIOutward RTGS Paymen 657,155.15 0 92,876,762.95 8000497 STATE DEPT FOR LABOUR:999999 SAROVA PANAFRIC 8000497 STD002619 Totals 13,058,105.00 0 Closing Balan< 92,876,762.95 . о м :у оо о оо м оо. �гi ,� о _._ � � � � - �з о rn � •� v� `-' ° о �Т -;__. � �+ м � м м `�`� о и о °O• о �- о ~ � � � о U °O с� с� о ш а � О оо и � �п м и � N о c�t о� и � ш с� и с�1 N Ш Z м и � Ш_ � i_- _ 1- Z о � м � Q � и _ n- � � Z гл � р г � .'. ,_. о ° � � � � � т Q и' � У ° ° � � z � ~ � � U v р � � и � � � • гL >- ш г � -� -о -о• Е- Н- � � � р о � �, n, � Ш � Q Q N � N eJ О .' : .� ' � Ш N_ U J г U �-• .__. � �= оо Q г� и � о о z � � 'л _Z О = � � � � У ш О LL- v ►- � � �°' Ш '� " т %- � � м -� е� и ai `� 1-ш- � � `-� � р � � � � а z Ш Z а ►- ш � Q и и ¢ .� � .� � и У Z т Q= Q д д д С i � Z � � � С Ш �% о с� U � .� г Z } U , � � и е� г� _ иj ш Z h ш �. .� �"О �I сб � .. о4с -- О � �', .� _и �` ь.� U � I а�. � \ � а � а� с.: '_' _.' Q � _ � v � � гs � и_, b х и пS � Z � � р z Г/� -И � � � � �' t"j = с� cS � О ш ш V � й � � -�' j� ,S� � Е._, bЛ 0 � v� � � �' � i _й о�С � � ш � а "+=� Q� ..t� О а а 00 � F=- а ошс Q д U ('-� гЛ (> REPUBLICOFKENYA KYEOP PROJECT 1184 ------------- Date ...... 10/07/2018 ....... Report of the Board of Survey on the Cash and Bank Balances of ............ NIEACL AND SP ................. ................................................................................ as at the close of Business on ...... 30/06/2018 .......................................................................................... The Board, consisting of (Names and Official titles) ----- WINNIE KAR[NGITHI ................. ......... . ......... CHIEF ECONOMIST .................................... RISPER NYONGESA .......................................... SPFO ............ .............................. SAUROKI GLORIA NAISOI ................................. FINANCE OFFICER IH ...... - ........... TOM 0. OLOO ................................................... ACCOUNTANTI ...................................... Assembled at the office of ------- - - - - - - ---- ------------ - ----------- - -- - -------------- at (time) on the - And the following cash was produced: Not Available Notes -------- - --------- - --- - -------- - ------- Sh. Silver Sh. Copper Sh. ---N/A-- Cheques (as per details on reverse) Sh. -- iN,/A-- Sh. ---N/.A-- - It was observed that Cheques amounting to Sh. ---- - - -------------- - Cis - --------------- ---------- had beenon hand for more than 14 days prior to the date of the survey. The Cash consists of East African currency and does not contain any demonetized coin or notes. The Cash Book reflected the following balances as at the close if business on the Cash on hand Sh. N/A - Bank Balance Sh. 92,,876,762.95-- Sh 92,876,762.95 - -- - --------------- The Bank Certificate of Balance showed a sum of Sh.105,934,867.95 ...................... cts - - - ------------ - - ------------------ - --- - - -- cts. - --- Standin- to the credit of the account on - - - - - - - ------------------- The differrence between this figure and the Bank Bala It wn by the Cash Book is accounted for in the Bank Reconciliation Stated (F.O. 30) attached 7 fo ......................................................... Ch ........................ . .. ................... Members of the Board ..................................................... 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