1. Financial information for the semester ending December 31 st, a. Sources and utilization of funds per category, in Euro 1

Transcription

1 Project n TF Interim Unaudited Financial Report 2nd semester 2012 For the period ending December 31 st, Financial information for the semester ending December 31 st, 2012 a. Sources and utilization of funds per category, in Euro 1 Semester Cumulative 6 months Actual Budget* Actual Budget* Forecast Total disbursement received Financing from The World Bank (GEF) Total expenditures per category (1) Goods, non-consulting services,consultants services, Training and Studies under Parts 1 and 2 of the Project (1.a) Goods, non-consulting services (1.b) Consulting Services and Studies (1.c) Trainings (2) Incremental operating costs Net evolution of Designated Account (disbursement received - total expenditures) Opening balance of the Designated Account** Add net evolution of Designated Account Closing Balance of the Designated Account*** *Note: Budget refers to the amount budgeted for the reporting period and cumulatively since the beginning of the Project. ** Note: The opening balance of the Designated Account is negative because Plan Bleu had received no advance payments or reimbursements from the grant proceeds on the designated account at the time when the expenses of the first semester occurred. In other words, during the 1 st semester of 2012, Plan Bleu has advanced from its own budget. *** Note: Due to complications with replenishment procedures for the designated account (DA), the balance of the DA was not the amount mentioned here, even though the amount takes into account all expenses made during the reporting period. Most of the expenses were covered by the current account of Plan Bleu and not by the DA. The DA will be consolidated during the first semester of 2013, when all currently ongoing replenishment applications will be processed. 1 Initial forecasts for the whole duration of the Project and budget allocations of Semester 1, 2012 have been converted from USD to EUR with the exchange rate 1USD=0,77223 EUR from January 24 th, 2012, date of the signature of the grant (oanda.com). Budget allocations of Semester 2, 2012 are converted by applying the exchange rate at the beginning of the semester (30/06/2012). Actual expenses use the exchange rate of the day the expense occurred. Interim Unaudited Financial Report 2nd semester 2012 revised on 18/03/2013 1

2 b. Sources and utilization of funds per component, in Euro 1 Semester Cumulative 6 months Actual Budget* Actual Budget* Forecast Total disbursement received Financing from The World Bank (GEF) Total expenditures per component (1) Governance (2) Knowledge generation (3) Project Coordination and Management Net evolution of Designated Account (disbursement received - total expenditures) Opening balance of the Designated Account** Add net evolution of Designated Account Closing Balance of the Designated Account*** * Note: Budget refers to the amount budgeted for the reporting period and cumulatively since the beginning of the Project. ** Note: The opening balance of the Designated Account is negative because Plan Bleu had received no advance payments or reimbursements from the grant proceeds on the designated account at the time when the expenses of the first semester occurred. In other words, during the 1 st semester of 2012, Plan Bleu has advanced from its own budget. *** Due to complications with replenishment procedures for the designated account (DA), the balance of the DA was not the amount mentioned here, even though the amount takes into account all expenses made during the reporting period. Most of the expenses were covered by the current account of Plan Bleu and not by the DA. The DA will be consolidated during the first semester of 2013, when all currently ongoing replenishment applications will be processed. Component Activity c. Utilization of funds per component and per activity, in Euro 1 Initial Semester Cumulative Forecast Forecast Paid Forecast Paid (1) Governance Translation of PAD and PIM Steering Committee meeting Steering Committee meeting 2 Green growth conference participation + workshop Bank fees (2) Knowledge generation Drafting of ToR for Lebanese SEA+ regional training on environmental assessments (3) Project Coordination and Management Lumpsum Non lumpsum Bank fees Total projet Interim Unaudited Financial Report 2nd semester 2012 revised on 18/03/2013 2

3 Initial Allocation of Budget In USD TOTAL Budget Governance Knowledge generation Project Coordination and Management Lump sum per semester for project management USD= 0, EUR (on 30/06/2012) Forecasts, other than the initial forecast, are based on the exchange rate at the beginning of the reporting period (here 30/06/2012). Actual expenses are based on the exchange rate of the day when the expenses occurred. d. Cumulated payments by component, in Euro 1 Allocated (signed contracts) in EUR in EUR Cumul. Cumul. % All (3/1 in%) in EUR Cumul. Cumul. % All (6/1 in%) Cumul. % 8 (6/3 in%) (1) Governance % % 100% (2) Knowledge generation % % 14% (3) Project Coordination and Management % % 100% TOTAL % % 83% Categories e. Cumulated payments by category, in Euro 1 Initial Allocation (1) Engage ments Cumul semester Cumulated (2) / grant (2) / (1) en% (1) Goods, non-consulting services, consultant services, Training and Studies under components 1 and % (1.a) Goods, non-consulting services N/A N/A (1.b) Consulting Services and Studies N/A N/A (1.c) Trainings N/A N/A (2) Incremental operating costs % TOTAL % Interim Unaudited Financial Report 2nd semester 2012 revised on 18/03/2013 3

4 f. Brief description of the Project s progress during the reporting period The reporting period refers to the second semester of the Regional Governance and Knowledge generation Project (ReGoKo). Throughout this period, the activities financed under the ReGoKo were: a Project Steering Committee meeting via video-conference (financed by the CMI through in-kind cofinancing) and an activity covering the drafting of terms of reference for a Strategic Environmental Assessment (SEA) for the New Water Sector Strategy in Lebanon as well as the preparation of a regional training on environmental assessments. During the reporting period, other activities have been identified and are currently in the pipeline. More information on the activities can be found in the quarterly ReGoKo Project Reports and the Project s workplan. Amongst other, the dedicated Project website is currently under construction and is planned to go online at the end of the first quarter of Throughout the second semester of implementation, around 5% of the grant proceeds have been disbursed, whereas the planned disbursement is 19% of the grant proceeds 2. The ReGoKo is therefore a little slow on disbursement. This is the result of efforts required to agree on implementation procedures that cater to the Beneficiaries, the World Bank s and Plan Bleu s needs at the same time. These issues have now been settled and it is expected that disbursement will catch up with the initially planned level of disbursement during the upcoming year. 2 The PAD prescribes a planned disbursement of 0, 27 million US$ for the World Bank fiscal year 2012 (ending June 30 th, 2012), and 0, 62 million US$ for the fiscal year The reporting period of this IUFR covers the fiscal year 2012 and half of the fiscal year 2013, adding up to a planned disbursement of 0,59 million US$. This approximately equals 19% of the grant proceeds. Interim Unaudited Financial Report 2nd semester 2012 revised on 18/03/2013 4

5 2. Annex A a. In-kind co-financing from the Center for Mediterranean Integration (CMI), in Euro Item Date Event (incl. tax) Simultaneous translation 1 services January 2012 Project Launch and Steering Committee meeting Audio-visual equipment January 2012 Project Launch and Steering Committee meeting Video-conference 3 29 March 2012 Project Steering Committee meeting 154 Simultaneous translation 4 services 22 May 2012 Project Steering Committee meeting Simultaneous translation 5 services 4 24 May 2012 Workshop Green Economy Video-conference Project Steering Committee meeting October TOTAL Initially 205,00 USD. Exchange rate 1 USD = 0,75039 EUR ( 4 Costs covered by green growth conference (multi-partner financing from CMI, OCEMO, Plan Bleu, FEMISE, City of Marseille). 5 Initially 205,00 USD. Exchange rate 1 USD = 0,76767 EUR ( Interim Unaudited Financial Report 2nd semester 2012 revised on 18/03/2013 5

6 3. Annex B ERRATUM: IUFR of Semester 2, 2013, reporting period ending on December 31 st, 2012 The IUFR of semester 2, 2012 has been corrected on the following issue: 1. An amount of 387,08 has been falsely copied into calculation formulas of cumulative engagements and payments under component 1/category 1. This has now been corrected. ERRATA: IUFR of Semester 1, 2012, reporting period ending on June 30 th, 2012 The IUFR of semester 1, 2012 has been corrected on the 3 following issues: 2. The exchange rate of lumpsum payments under component 3 / category 2 of the Project has been changed to fit the exchange rate reported in the replenishment applications for the designated account, which are in line with the actual exchange rate of the date when these expenses occurred. 3. An amount of 387,08 has been falsely charged under the activity Project Steering Committee meeting 1. This amount has now been correctly charged under component 3 / category 2 of the Project under non-lumpsum expenses. 4. Incremental operating costs of 61,20 had been omitted in the IUFR report and have now been charged under component 3 / category 2 of the Project under non-lumpsum expenses. The corrected tables of the IUFR referring to the 1 st semester of 2012 figure below. 1. Financial information for the semester ending June 30 th, 2012 a. Sources and utilization of funds per category, in Euro 6 Semester Cumulative 6 months Actual Budget Actual Budget Forecast Total disbursement received Financing from The World Bank (GEF) Total expenditures per category (1) Goods, non-consulting services,consultants services, Training and Studies under Parts 1 and 2 of the Project (1.a) Goods, non-consulting services (1.b) Consulting Services and Studies (1.c) Trainings (2) Incremental operating costs Net evolution of Designated Account (disbursement received - total expenditures) Initial forecasts and budget allocations have been converted from USD to EUR with the exchange rate 1USD=0,77223 EUR from January 24 th, 2012, date of the signature of the grant (oanda.com). Interim Unaudited Financial Report 2nd semester 2012 revised on 18/03/2013 6

7 Opening balance of the Designated Account Add net evolution of Designated Account* Closing Balance of the Designated Account * Note: The net evolution and closing balance of the Designated Account are negative because Plan Bleu had received no advance payments or reimbursements from the grant proceeds on the designated account at the time when the expenses of the first semester occurred. In other words, during the reporting period, Plan Bleu has advanced from its own budget. b. Sources and utilization of funds per component, in Euro 1 Semester Cumulative 6 months Actual Budget Actual Budget Forecast Total disbursement received Financing from The World Bank (GEF) Total expenditures per component (1) Governance (2) Knowledge generation (3) Project Coordination and Management Net evolution of Designated Account (disbursement received - total expenditures) Opening balance of the Designated Account Add net evolution of Designated Account Closing Balance of the Designated Account Component Activity c. Utilization of funds per component and per activity, in Euro 1 Initial Semester Cumulative Forecast Forecast Paid Forecast Paid (1) Governance Translation of PAD and PIM Steering Committee meeting Steering Committee meeting 2 Green growth conference participation + workshop (2) Knowledge generation (3) Project Coordination and Management Lumpsum Non lumpsum Total projet Initial Allocation of Budget In USD TOTAL Budget Governance Knowledge generation Project Coordination and Management Lump sum per semester for project management USD= 0,77223 EUR (on 24/01/2012) Interim Unaudited Financial Report 2nd semester 2012 revised on 18/03/2013 7

8 Forecasts are based on the exchange rate valid at grant signature (24/01/2012). Actual expenses are based on the exchange rate of the day when the expenses occurred. Component d. Cumulated payments by component, in Euro 1 Allocated (signed contracts) in EUR in EUR Cumul. Cumul. % All. in EUR % All. % (1) Governance % % 100% (2) Knowledge generation % 0 0% 0% (3) Project Coordination and Management % % 100% TOTAL % % 100% Categories e. Cumulated payments by category, in Euro 1 Initial Allocation (1) Engage ments Cumul semester Cumulated (2) / grant (2) / (1) en% (1) Goods, non-consulting services, consultant services, Training and Studies under components 1 and % (1.a) Goods, non-consulting services N/A N/A (1.b) Consulting Services and Studies N/A N/A (1.c) Trainings N/A N/A (2) Incremental operating costs % TOTAL % Interim Unaudited Financial Report 2nd semester 2012 revised on 18/03/2013 8