In case of reply the number and date Ministry of Education Of this letter should be quoted Ministries Branch Post Office P.O. Box M45 Accra My RefNo:~.:::>3:d.~~•• lQ \ REPUBLIC OF GHANA Your Ref. No ••••••••••••••••••••••••• The Country Director The World Bank Ghana Office Accra Attn: Charlotte Hayfron Dear Sir, AUDIT OF SECONDARY EDUCATION IMPROVEMENT PROJECT (SEIP) Please refer to the audit of the above project for the year ended 31st December 2018 and find attached the following documents: (i) Project Financial Statements and (ii) Management letter for your further action. Kind regar/1. fl-JY<-- H. R. WILSON PROJECT COORDINATOR • • • MINISTRY OF EDUCATION P.O. BOX M45 ACCRA • REPUBLIC OF GHANA . . • • . SECONDARY EDUCATION IMPROVEMENT PROJECT (SEIP) MINISTRY OF EDUCATION (MoE) • [IDA LOAN No. 5452-GH] . PROJECT FINANCIAL STATEMENTS 31 DECEMBER 2D18 . . . • I TABLE OF CONTENTS •..~ Iii PAGE REFERENCE GENERAL INFORMATION 1 INDEPENDENT AUDITORS' REPORT ON SEIP COMPONENT '1' FINANCIAL STATEMENTS 2-4 STATEMENT OF FINANCIAL POSITION 5 STATEMENT OF SOURCES AND USES OF FUNDS 6 NOTES TO THE FINANCIAL STATEMENTS 7-9 INDEPENDENT AUDITORS' REPORT ON SEIP COMPONENT '2' 10 - 12 ii FINANCIAL STATEMENTS . STATEMENT OF FINANCIAL POSITION 13 STATEMENT OF SOURCES AND USES OF FUNDS 14 • • NOTES TO THE FINANCIAL STATEMENTS 15 - 17 . 11111 • • • • 1 I GENERAL INFORMATION PROJECT BACKGROUND The Secondary Education Improvement Project (SEIP) is to support the implementation of the government's Community Day Senior High School Project (CSHSP) through two components: (i) Support to Increase Access with Equity and Quality in Senior High Schools; and (ii) Management, Research and Monitoring and Evaluation. The SEIP is expected to finance results which demonstrate increased access in targeted districts, increased enrollment of poorest students and improved learning outcomes for selected low performing senior high schools. Objectives: The Project objective is to increase access to senior secondary education in underserved districts and improve quality in low-performing senior high schools in Ghana. The SEIP is expected to benefit approximately 30,000 new students in secondary education programs, 150,000 students in low performing schools, 2,000 senior high school teachers, heads of schools, in addition to Ministry of Education and Ghana Education Service officials. Source of funding: The International Development Association (IDA) will provide an amount of US$156 million as a five-year credit facility to support senior secondary education in Ghana. The funding arrangement will employ an Investment Project Financing (IPF) instrument which will be executed using a hybrid structure which employs a results-based funding for Component '1' and a traditional investment technical assistance and management for Component '2' to support the government's overall program. IDA Loan Amount: US$ 156 million Component 1: US$140.1 million ' Component 2: US$15.9 million Ii Approval date: 30 July, 2014 Start date: 1 October, 2014 Completion date: 30 November, 2019 Implementation Agencies: Ministry of Education - Component '1' Ghana Education SeNice - Component '2' TECHNICAL IMPLEMENTATION Mr. Benjamin Gyasi, Chief Director - Chairman COMMITTEE Prof. Kwasi Opoku-Amankwa, Director-General/GES - Member Mrs. Kate Appiah-Pinkrah, Director Pre-Tertiary/MoE - Member Mr. H. R. Wilson, SEIP Coordinator - Member Mrs. Emelia Derkyi, Director of Finance/MoE - Member Rev. Dr. Christian Koramoah, Financial Controller/GES - Member Mr. Cornelius Atsu Dafeamekpor, Technical Officer/GETFund - Member Mr. Tony Gyasi, ICT Unit - Member Mr. Bernard Ntim, SPPPs - Member Mr. Nii Lante Quarcoopome, Director FPMU/MoE - Member Ms. Cassandra Twum Ampofo, PRO Unit - Member Dr. Evelyn Oduro, NTC - Member Mr. Aminu Sulemana, Monitoring & Evaluation - Member Mr. Andrews Quaing, Director SED/GES - Member Ms. Cynthia Essibrey Annan, Beneficiary Schools - Member Mrs. Felicia Boakye Yiadom, NaCCA - Member Dr. Joshua Mallet, CENDLOS - Member Mrs. Cynthia Bosumtwe-Sam, NIB - Member Mr. Andrew Baah-Kwaku, Scholarship - Member . ADDRESS AUDITORS Ministry of Education P.O. Box M45, Accra Ghana Audit Service Post Office Box MB 96, Accra BANKERS National Investment & Agriculture Development Banks . 1 • AUDIT SERVICE • I• ca,e of rep!~ tlu· number and dah' of !ht • lett_cr ~hould _ll_e_ q_uotrd • .Hy Ref \o:_ four Ref. \o: . CGAD/ADM/SEIP/19/2 (iood