4&)DFTOt'C REPORV. Public Disclosure Authorized. Audit completion date: Public Disclosure Authorized

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1 4&)DFTOt'C REPORV Secretary Local Government Division. Ministry of Local Government. Rural Development and Co-operatives Bangladesh Secretariat, Dhaka. Audit completion date: We have audited the accompanying financial statement of "Municipal Governance Support Project (MGSP) " financed by IDA Credit No BD as at 30h June, 2015 and for the year then ended. Preparation of financial statement is the responsibility of management. Our responsibility is to express an opinion on the financial statement based on our audit. I. We conducted our audit to accordance with International Standers on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of materials misstatement. An audit includes examining on a test basis, evidences supporting the amounts and disclosures made in the financial statement, An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion, Ill. IV. In our opinion, the Financial Statement gives a fair view of the financial position of "Municipal Governance Support Project (MGSP)" as at 30t June, 2015 and the results of its operations and cash flows for the year then ended in accordance with the cash basis of accounting followed by the Government of Bangladesh Opinion status: Unquahlied. (Gouranga Chandra Dehnath) Deputy Director For Director General Foreign Aided Projects Audit Directorate Tel: E An,'SeroNn-lReport IDA.IOSP (R4,ii sir) du 7 -

2 Municipal Governance and Services Project (IDA Cr, 5339-BD) Financial Statement 30th June '2015 (Figure in Lakh) Taka) Resources Notes Cumulative Current Period Cumulative Prior period Current period Government of Bangladesh Loan from Development Partner 2-13, , Other resources (a) Accrued Bank Interest (b) Unspent Balance Receipt Cash Opening Balance 5 - F Total Resources , , Expenditure and Cash 1 1 (a) Provision of Financial Support to 26-3, , Pre-selected ULBs (IDA Part) Provision of Financial Support to 26 Pre Selected ULBs (GOB Part) Sub-Total; - 4, , (b) Financial Support for Operation & - 3, , Maintenance (O&M) ULBs Sub-Total - 3, , (a) Capacity Building and TA Support for LGED and ULBs supported by LGED Sub-Total Govt. Staff Salary & Allowances (GOB) Sub-Total: Total Expenditure , , Cash Closing Balance Project Bank Account IDA Designated Account - 4, , ULBs Account - 2, , Total Expenditure & Cash , , M1nicipa1 Gvrnnp 4dAlT11 I-proeti overnn fd DimreCO Senices rojeen GFinancia( Statement.xls Services Project (MGS LGLDHQ D1 LGE- H, Ohaa.

3 Municipal Governance and Services Project (IDA Cr. No SD) NOTES TO FINANCIAL STATEMENT 30th June, GOVERNMENT OF BANGLADESH Funds are allocated by the Government of Bangladesh to cover GOB's share of eligible project expenditures, as specified in the Development Project Proforma and in the Annual Development Programme for each of the project. Any allocated funds that have not been expended by the end of a fiscal year lapse and must be returned to GOB. GOB contribution to the project since inception are as follows (In Lakh Taka) Inception to 301h For the year Inception to 30th Disbursement by GOB Less: (Refund/Lapsed) Total: LOAN FROM DEVELOPMENT PARTNER The IDA has provided funds to the project to cover ics share of eligible project expenditures. These funds, which must be repaid to IDA after the conclusion of the project, have been drawn by the project in accordance with the following withdrawal procedures (In Lakh Taka) Inception to 301 For the year 1 Inception to 30th On the basis of 1UFR - 13, , Total - 13, , OTHER RESOURCES Other resources of _consist the following: Inception to 30th For the year Inception to 30t Project Revenues - - Accrued Bank Interest Unspent Balance Receipt Total j ] CASH At present the Project maintained one bank account (CONTASA) which is kept at Sonali Bank Ltd. Dilkusha Corporate Branch, Dhaka and an operating account, which is kept at a commercial bank to deposit those cheq ue issued f romn CAO 's Office. Year end cash balance was as fol lows (in Lakh Taka) Inception to 301h For the year Inception to 30* IDA Designated Account - 4, (With 26 ULBs Account) -1 2, , Operating Account (GOB) Total 6, , tm. bd ff j (Shaikh ' i At? G''fnr'1 projecst 01fackor hiur octt1, [cip! 1 r LGED HQ.P 'N:: F Accouno o,c lmg51' t AudnAudo N r- to fs.1 0 c Municipal Govemance and Services Project (MGSP) LGED HQ. Dhaka.

4 AVOtMeTC REPORT &h Pe4& CCOUNTa 1. We have audited the Designated Account (CONTASA) of "Municipal Governance Support Project (MGSP)" financed under IDA Credit No-5339 BD for the year Our audit was carried out following International Auditing Guidelines. Accordingly, our audit included such review of systems of internal control tests of accounting records & supporting documentation, verification of account balance and other auditing procedures that are considered important under the circumstances. 3. The accompanying Designated Account Statement was prepared on the basis of cash deposit & withdrawals for the purpose of complying with the Loan Agreements (Annexure-1). 4. In our opinion the receipts are properly accounted for and withdrawals were made for the purpose of the project in accordance with the Loan Agreement and the Special Account Statement gives a fair view of the beginning and ending balances and the account activity for the year ended June 30, 2015 are on the basis of cash deposits & withdrawals. (Gouranga Chandra Debnath) Deputy Director For Director General Foreign Aided Projects Audit Directorate Tel: EArmn Scoctt-IRepr\ IDA-MGSPRalan sirl.doc - 20-

5 Municipal Governance and Services Project IDA Credit No BD Special Account (CONTASA) Statement For the Year ending 30' June, 2015 Account No: SND Depository Bank: Sonali Bank Ltd., Address: Dilkusha Corporate Branch. Dhaka. Related Loan Agreement: IDA Credit No.5339-BD. PART-A Account Activity ifigure in BDT) Beginning Balance as on Add: Total amount deposited by World Bank (Advance as per IUFR) :1,33,20,80, Total amount refunded to cover ineligible expenditure Add: Accrued Bank Interest : 3,10,32,000,00 Add: Unspent Balance Receipt : 5,48, Total Resources : 1,36,36,60, Deduct: Total amount withdrawn : 95,59,70, Total services charges if not included above in amount withdrawn Ending balance as on ,76,90, PART-B Account reconciliation I. Amount advanced by World Bank :1,33,20,80.000,00 2. Less total amount recovered by World Bank: 3. Equals present outstanding amount advanced to the Special Account at fiscal year ended : 1,33,20,80,000,00 4, Ending balance of Special Account at fiscal year ended : 40, Plus amount documented upto ,48,30, Plus amount withdrawn and not yet claimed : 21,11,40, Less interest fif including Special Account) : 3,10,32, Less Unspent Balance Receipt : 5,48, Plus service charges (if not included in line 5 & 6 above) 10. Equals total advances to Special Account accounted for in fiscal year ended : 1.33,20,80, (Shaikh Muzakka Zaher) Project Director Tele: pd.mwsp 1 bleed.aov.bd F Rrus A e\is ii i

AUDITOR'S REPORT. Secretary Disaster Management and Relief Division Ministry of Food and Disaster Management Bangladesh Secretariat, Dhaka.

AUDITOR'S REPORT. Secretary Disaster Management and Relief Division Ministry of Food and Disaster Management Bangladesh Secretariat, Dhaka. Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Secretary Disaster Management and Relief Division Ministry of Food and Disaster Management