Shanxi Provincial Audit Office ofthe People's Republic of China Audit Report '1W 4KL (2017) 51 -r7 JIN AUDIT REPORT (2017) NO.51 Project Name: Shanxi Gas Utilization Project Financed by the World Bank J ) - : 8348-CN Loan No..: 8348-CN Project Entity: Project Management Office of Shanxi Guoxin Energy Development Group Co., Ltd. Acounti 20 16 Accounting Year: 2016 目录 ContelltS 一、审计师意见．..................................................................................．……1 1 .Auditor,5 Opini0n............................．……，,.........................................．……3 二、财务报表及财务报表附注……，.．……，..........................................．……6 11,Financial Statements and Notes to the Financial Statements..．……，．…＿.6 （一）资金平衡表．……，.．一，.,-................．一，……，......................．……6 1 .BalanCe Sheet...............................................................................．……6 （二）项目进度表．.........．……，...............................................．……，．……8 1 1.Sun飞，nafy ofsoul一ces and UsesofFundsbyProjectComponent.．…8 （三）贷款协定执行情况表．........................．……，......................．……11 111.Statement oflmplementation ofLoanAgreement...－……，.....-.．……11 （四）专用账户报表．.．……，.................．……‘.....................．……，...．……12 iv.Special Account Statement.....................................................．……，12 （五）财务报表附注．........................................．……，…，..............．……13 v .Notes to the Financial Statements.．……，....................................．……16 三、审计发现的问题及建议．..................．……，二，..............................．……19 111.Audit Findings and Recommendations...................．……，．…，··，··，·，.．一21 一、审计师意见 审计师意见 山襼省国新能源发展集团有限公司世行项目办公室： 我们审计了世界银行贷款山襼煤层气综合利用项目2016年12月31 日的资金平衡表及截至该日同年度的项目进度表、贷款协定执行情况表和 专用账户报表等特定目的财务报表及财务报表附注（第6页至第18页）。 （一）项目执行单位及山襼省财政厅对财务报表的责任 簖制上述财务报表中的资金平衡表、项目进度表及贷款协定执行情况 表是你办的责任，簖制专用账户报表是山西省财政厅的责任，这种责任包 括： 1．按照中国的会计准则、会计制度和本项目贷款协定的要求编制项 目财务报表，并佼其实现公允反映； 2．设计、执行和维护必要的内部控制，以使项目财务报表不存在由 于舞弊或错误而导致的重大错报。 （二）审计责任 我们的责任是在执行审计工作的基础上对财务报表发表审计意见。我 们按照中国国家审计准则和国际审计准则的规定执行了审计工作，上述准 则要求我们遵守审计职业要求，计划和执行审计工作以对项目财务报表是 否不存在重大错报获取合理保证。 为获取有关财务报表金额和披露信息的有关证据，我们实施了必要的 审计程序。我们运用职业判断选择审计程序，这些程序包括对由于舞弊或 错误导致的财务报表重大错报风险的评估。在进行风险评估时，为了设计 I险当的审计程序，我们考虑了与财务报表相关的内部控制，但目的并非对 l 内部控制的有效性发表意见。审计工作还包括评价所选用会计政策的恰当 I哇和作出会计估计的合理性，以及评价财务报表的总体列报。 我们相信，我们获取的审计证据是适当的、充分的，为发表审计意见 提供了基础。 （三）审计意见 我们认为，第一段所列财务报表在所有重大方面按照中国的会计准 则、会计制度和本项目贷、赠款协定的要求编制，公允反映了世界银行贷 款山襼煤层气综合利用项目2016年12月31日的财务状况及截至该日同 年度的财务收支、项目执行和专用账户收支情况。 （四）其他事项 我们抽查了本期内由省财政厅报送给世界银行提款申请书及所附资 料。我们认为，这些资料基本符合贷款协议的要求，可以作为申请提款的 依据。 本审计师意见之后，共同构成审计报告的还有两项内容：财务报表及 财务报表附注和审计发现的问题及建议。浏州口．助吸狐 中华人民粎加虱直西省渊洲t厅 地址：中国山襼省太原市万柏林区滨河西路南泌似姑谬戒 邮政簖码：030024 电话：86一0351一3806182 传真：86一03 51一3806182 2 1. Auditor's Opinion Auditor's Opinion To: Project Management Office of Shanxi Guoxin Energy Development Group C0.11 Ltd.5 We have audited the special purpose financial statements (from page 3 to page 19) of Shanxi Gas Utilization Project financed by the World Bank, which comprise the Balance Sheet as of December 31, 2016, the Summary of Sources and Uses of Funds by Project Component, the Statement of Implementation of Loan Agreement and the Special Account Statement for the year then ended, and Notes to the Financial Statements. Project Entity and Shanxi Provincial Finance Department's Responsibility for the Financial Statements The preparation of the Balance Sheet, the Summary of Sources and Uses of Funds by Project Component and the Statement of Implementation of Loan Agreement is the responsibility of your entity, while the preparation of the Special Account Statement is the responsibility of Shanxi Provincial Finance Department, which includes: i. Preparing and fair presenting the accompanying financial statements in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement-, ii. Designing, implementing and maintaining necessary internal control to ensure that the financial statements are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Government Auditing Standards of the People's Republic of China and International Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. 3 An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entities' preparation and fair presentation of the financial statements 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 entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is appropriate and sufficient to provide a basis for our audit opinion. Auditor's Opinion In our opinion, the financial statements mentioned in para. I have been prepared in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement. These financial statements have fairly reflected the financial status as of December 31, 2016 of the Project, as well as the financial receipt and expenditure, project execution and the revenue and expenditure of the special account. Other Matter We have randomly inspected the withdrawal applications, as well as the supporting documents submitted by Shanxi Provincial Finance Department to the World Bank. In our opinion, the above-mentioned documents conform to the requirements of the Loan Agreement, and could be used as the basis of the loan withdrawal. The audit report consists of the Auditor's Opinion and two more parts hereinafter: Financial Statements and Notes to the Financial Statements, Audit Findi Recommendations. xi P vine dit Office of the People's Republic of China une 28,N7 4 Address: Building B, 129, Western Binhe Road, Wanbailin District, Taiyuan City, Shanxi Province, P.R. China Postcode: 030024 Tel.: 86-351-3806182 Fax: 86-351-3806182 The English translation is for the convenience of report users; please take the Chinese audit report as the only official version. 5 二、财务报表及财务报表附注 11 .Financial Statemen加and Notes to the Financial Statements （一）资金平衡表 1.Balance Sheet 资金平衡表（BALANCE SHEET) 2016年12月31日（AsofD。。30,2016) 项目名称：世行贷款山襼煤层气综合利用项目表l(statementl) PROJECT NAME:Shanxi Gas Utilization Project financed by the World Bank 井 6 ik-k- f *;* (BALANCE SHEET) 2016 Jf- 12 q 31 H (As of Dee 30, 2016) A I 0k) ;t #: I ff * 4k Lb -ff a g- 4 jq;,It,- fj)fl 71A6 p Statement I (continued) PROJECT NAME: Shanxi Gas Utilization Project Financed by the World Bank A R Tt Jt ( Currency Unit: RMB Yuan) 4-Y& Im 40 ft M*# Sources of Fund Line No. Beginning Balance Ending Balance H RR it Total Project Appropriation Funds 28 56,488,964.43 127,208,004.81 ]A H rt* V, Project Capital and Capital Surplus 29 6,035,717.65 27,683,634-66 Vk- including:Grants 30 f'19 Mi+ Total Project Loan 31 5,741,925.00 101,246,377-39 1, IMRR kfa;-X Total Project Investment Loan 32 5,741,926.00 101,246,377.39 (1) ffl MA ForeignLoan 33 5,711,925.00 89,251,449.38 AFP: MVTff VW Including:IDA 34 T, 4j: 1 B RD 35 Technical Cooperation 36 Co-financing :37 (2) Wi%A Domesticl-oan 38 30,000.00 11,994,928.01 2, Afftf800: OtherLoan 39 V9, FOt kR%fh RK Appropriation of Investment Loan 40 AFP: &AtftFRR Including: World Bank Loan 41 Ti, Bondfund 42 Project Expcnditurestobe Offset 43 TotalPaybale 44 1,721,047.61 13,038,766.27 Including: World Bank Loan Interest 45 Payable rR4-tft4TR;AX*i,M World Bank Loan Comm innent Fee 46 Payable ryt,f fftTT'qF),r3H 6M Vz World Bank Loan Service Fee 47 Payable A, * Ml i+ Other Payables 48 -571,970.64 -3,521,017.46 Appropriation of Fund 49 MjAqk/\ Retained Earnings 50 1,039.97 1,665.55 Total Soutces of Fund 51 69,416,723-02 265,657,431-22 7 :，·―찬， 方二 ！你： 、、・キ （四）专用账户报表 iv. Special Account Statement 专用账户报表（SPECIAL ACCOUNT STATEMENT) 本期截至2016年12月31日 (For theMONTH Period Ended Dec 31,2016) 表4(StatemeniIV) 货款人名称：中华人民共和国（N ame of borrower:People,5 Republic ofChina) 项目名称：世行贷款山西煤层气综合利用项目 Name ofProject:Shanxi Gas Utilization ProjectFinancedbytheworldBank 货币种炎：粎元（currency: USD) 升 12 （五）财务报表附注 财务报表附注 1．项目概要。 山襼煤层气综合利用项目是由山襼省国新能源发展集团有限公司（以 下简称：国新能源）申请、利用世行贷款实施的煤层气综合利用项目。项 目主要建设内容为：新建两个煤层气热电联产项日和四个天然气城市管网 项目，共包括六个子项目。其中两个煤层气J热中．联产项目分别在忻州市保 德县、晋中市昔阳县各新建一套120MW级煤层气联合循环二拖一供热机组， 供暖热负荷为47.SMw。四个天然气城市管网项目分别为长治县天然气利用 工程、襄垣县天然气利用工程、屯留县天然气利用工程、清徐县天然气利 用工程。项目的实施可以加快我省经济结构调整，促进能源运输、供应和 消费等方面的深刻变革。同时，可以进一步改善生态环境，减少项目区、 县的温室气体排放，提升能源利用效率，改变能源消费结构，推动全省“四 气”产业发展。 项目实施主体分别为国新能源所属的山西天然气有限公司、山西煤层 气（天然气）集输有限公司、清徐县凯通天然气有限公司。其中，山西天 然气有限公司负责保德、昔阳两个煤层气热电联产项目；山西煤层气（天 然气）集输有限公司负责镼治、屯留、襄垣县天然气利用工程项目；清徐 县凯通天然气有限公司负责清徐县天然气利用工程项目。 2014年1月，《国家发展改革委关于世行贷款山西煤层气综合利用项 目资金申请报告的批复》（发改外资〔2014〕13号），项目总投资18.02 亿元人民币。利用世行贷款1亿粎元（折合6.1亿元人民币），国新能源作为 世行贷款的债务主体。9700万粎元用于项目建设（其中：土建工程451万 粎元，没备及材料采购9249万粎元）,275万美元用于技术援助（咨询服务 与培训等）,25万粎元为先征费。项目建设期5年。2014年5月，世界银行 与我国政府签订项目《贷款协议》，贷款总额为1亿美元，含25万美元先 征费。项目生效日为贷款协定签订之日90天，项目贷款账户关闭日为2020 年6月30日。 l3 2．财务报表编制范围。 本次报表簖制范围包括山襼国新能源发展集团有限公司世行项目办； 山襼天然气有限公司保德、昔阳热电分公司；山西煤层气集输（天然气） 有限公司屯留、镼治分公司及其襄垣子公司；清徐凯通天然气有限公司负 责的各项目财务报表及省财政厅专用账户报表。 3．主要会计政策。 3.1按照财政部颁布的《企业会计准则一一基本准则》和各项具体会 计准则、企业会计准则应用指南、企业会计准则解释及其他相关规定对相 关业务进行确认、计量、核算。在此基础上按照财政部下发的《世界银行 贷款项目会计核算办法》、省财政厅下发的《世界银行贷款山西煤层气综 合利用项目财务管理、会计核算和提款报账暂行办法》的规定和要求对财 务报表进行分析填列。 3.2会计核算年度采用公历年制，即公历每年1月1日至12月31日。 3.3本项目会计核算以“权责发生制”作为记账原则，采用借贷复式记 账法记账，以人民币为记账本位币。 4．项目执行情况说明。 4,1贷款协定执行情况。截至2016年12月31日，累计利用世行贷款资 金13079306.1粎元，其中：向世界银行申请提款报账8157826.98美元、直 接支付4671479.12粎元、先征费250000美元。 4.2专用账户佼用情况。本项目专用账户设在建设银行山西省分行， 账号为14014410100220503113，币种为美元。专用账户首次存款500000 粎元。本年度回补75 14299.69粎元美元，利息收入2383.93美元美元，本 年度支付3978252.3粎元，支付服务费40美元，年末余额4038562.36美 元。 4.3项目投资情况。截至2016年12月31日，项目累计完成投资 14 152298710.32元，其中货物1178892.83元，工程类78338096.34元，其 他（主要指待摊费用支出）68904459.52元，技术援助2336136.63元， 先征费1541125元。 5．报表科目注释。 5.1“在建工程”期末余额为巧0912409.89元。本科目核算各项目单 位在建工程投资的实际成本，包括建安工程投资、设备投资、待摊投资和 其他投资。 5_2“货币资金”期末余额为36640029.68元。本科目核算各项目单 位存入银行的各种存款（包括专用账户存款）及现金。 5.3“专用账户存款”期末余额为4036047.39美元，约合人民币 27998060.74元。核算世界银行回补的项目贷款资金。 5.4“项目借款”期末余额为101246377.39元。反映项目单位为完成 项目计划、借／入的各种建设投资借款和其他各种借款。其中：国外借款期 末余额为13079306.1元（包括项目先征费250000美元），约合人民币 89251449_38元。国内借款期末余额为11994928.01元，是项目使用的地 方政府债券。 5.5“未交款合计”期末余额为一3521017.46元。核算项目单位期末应 交税金、应交基建包干结余、应交基建收入和其他应交款。本报表主要反 映项目单位产生的增值税进项税留抵。 5.6“留成收入”期末余额为1665.55元。核算项目单位取得试车收 入、物资转让净额，索额与违约净额，转贷利差等。本报表主要反应转贷 利差收入。 6．其他重要事项 15 V. Notes to the Financial Statements Notes to the Financial Statements 1. Project overview Shanxi Gas Utilization Project is financed by the World Bank, and implemented by Shanxi Guoxin Energy Development Group Co., Ltd. (hereinafter referred to as "GY.ED"). The construction components include: 2 gas-fired CUP projects and 4 gas distribution network projects, i.e. newly-built 120MW distributed gas-fired CHP project in Baode County of Xinzhou City and Xiyang County of Jinzhong City respectively, with heat-supply load of 47.5MW, as well as gas distribution network built in Changzhi County, Xiangyuan County, Tunliu County and Qlngxu County. The implementation of the Project could accelerate the adjustment of economic structure of Shanxi, promote the in-depth reform of energy transportation, supply and consumption. In addition, the implementation of the Project could further improve the ecological environment, reduce the greenhouse gas emission in selected areas and counties, enhance the energy utilization efficiency, optimize the energy consumption structure and promote the development of "four gas" development of Shanxi. The implementing agencies of the Project include Shanxi Natural Gas Company (SNGC), Shanxi Coal Bed Methane Pipeline & Transportation Company (SCPTC), and Shanxi Qingxu Kaitong Natural Gas Company (QKNGC), all of which are subsidiaries of GXED. SNGC is responsible for 2 distributed gas-fired CHP components in Baode and Xiyang County. SCPTC is responsible for the gas distribution network components in Changzhi, Tunliu and Xiangyuan County. QKNGC is responsible for the gas distribution network component in Qingxu County. In January 2014, National Development and Reform Commission officially approved Shanxi Gas Utilization Project (FA GAI WAI ZI [2014] No. 13). The total investment of the Project is CNY 1.802 billion, with the World Bank Loan of US 100 million dollars (equivalent to CNY 610 million), including US 97 million dollars used for physical construction (civil works: 4.51million US dollars, equipment and material procurement: 92.49 million US dollars), US 2.7S million dollars used for technical assistance (consulting service and training) and US 250,000 dollars of front-end fee. The construction period of the Project is S years. In May 2014, the World Bank 16 and the Ministry of Finance signed the Loan Agreement, with total loan of US 100 million dollars, including US 250,000 dollars of front-end fee. The Project came into effect in 90 days afterwards the signing date of the Loan Agreement. The closing date is June 30, 2020. 2. Consolidation Scope of the Financial Statements Consolidation scope covers the financial statements as of December 31, 2015 of Project Management Office of GXED, Baode Gas-fired CHP Component, Xiyang Gas-fired CHP Component, as well as gas distribution network components in Tunliu, Xiangyuan, Changzhi and Qingxu County, as well as the special account statement of Shanxi Provincial Department of Finance. 3. Main Accounting Policies 3.1 The applicable accounting policies include: Accounting Standard for Business Enterprises, Accounting Methods for the World Bank Financed Project and Provisional Measures on Financial Management, Accounting and Loan Withdrawal and Reimbursement of Shanxi Gas Utilization Project, as well as other related regulations. 3.2 In accounting practice, the Gregorian calendar year is adopted as the fiscal year from January 1 to December 31. 3.3 The accrual basis and the debit/credit double entry bookkeeping method are adopted. RMv]B is used as the recording currency of bookkeeping. 4. Project Implementation Progress 4.1 Execution of Loan Agreement: As of December 31, 2016, totally 13,079,306.1 US dollars have been withdrawn from the World Bank, including 8,157,826.98 US dollars as the imprest fund of the special account, 4,671,479.12 US dollars as the reimbursement from the World Bank, and 250,000 US dollars as the front-end fee. 4.2 Special account: The special account is established in Shanxi Branch, Construction Bank of China, account No.: 14014410100220503113, currency: USD. The first deposit of the special account is US 500,000 dollars. As of December 31, 2015, totally 7,514,299.69 US dollars have been reimbursed from the World Bank. The interest income during the current period is 2,383.93 US dollars; 3,978,252.3 US dollars was paid during the current 17 period as the project expenditure; 40 US dollars was paid as the service fee. The balance at the end of the period is 4,038,562.36 US dollars. 4.3 Project Investment Progress.As of December 31, 2016, the total investment of 152,298,710.32 RMB has been completed, including goods: CNY1,178,892.83, civil works: CNY78,338,096.34, others: CNY 68,904,459.52, technical assistance: CNY2,336,136.63, and front-end fee: CNY 1,541,125. 5 Explanation of Subjects 5.1 Construction in Progress: Its balance was CNY 150,912,409.89, including investment of building and erection project, equipment investment, amortized investment and other investment. 5.2 Cash and Bank: Its balance was CNY36,640,029.68, including the bank deposits and cashes of each project entity. 5.3 Ending Balance of the Special Account: this is refers to the special fund of World Bank loan. The ending balance is 4,036,047.39 US dollars, equivalent to CNY27,998,060.74. 5.4 Project Loan: the ending balance is CNY101,246,377.39, reflecting construction investment loan and other loans borrowed by the project entities, in order to accomplish the project target, including foreign loan: 13,079,306.1 US dollars (including 250,000 US dollars of front-end fee), equivalent to CNY89,251,449.38, as well as the domestic loan: CNY 11,994,928.01, which is the local government bond. 5.5 Other Payables: Its ending balance is CNY-3,521,017.46, reflecting tax payable, carry-over balance payable of construction project, payable income of construction project and other payables. In this report, it mainly refers to the retained input tax of VAT. 5.6 Retained Earnings: Its ending balance is CNYI,665.55, referring to revenue of commissioning, net value of material transfer, net value of claim and penalty, as well as the interest margin of on-lending. In this report, it mainly refers to the interest margin of on-lending. 6 Other Material Matters 18