fl it - world bank...3 0 jun 2013 shanxi provincial audit office of the p.r. china \fl it ~ % audit...
TRANSCRIPT
3 0 JUN 2013
Shanxi Provincial Audit Office of the P.R. China
\fl it ~ % Audit Report
f-lfl j~ ffi ( 2013 J 64 %
JINSHENWAIREPORT (2013) NO. 64
Project Name: The Grant for Proposed China GEF Provincial Energy
Efficiency Scale-up Project (Shanxi)
Grant No.:
TF098703-CN
TF098703-CN
Project Entity: IFO Project Management Office of Shanxi Province
Government
~it1f.lt: 2012
Accounting Year: 2012
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~ * Contents
'lfi it ViP ~ ~ ........................................................................................ 1
I. Auditor's Opinion ........................................................................ ............ 3
:::_' Y!t ~~*.&Jilt ~~*13fhi ................................................................ 5
IT. Financial Statements and Notes to the Financial Statements ............... 5
( - ) j;f~.!f-~* ...... ............................ ....... ...... ............................... 5
i. Balance Sheet .. .................................................................................. 5
( -=- ) ~ § :itt~* .................................................................. ..... ....... 7
ii. Summary of Sources and Uses ofFunds by Project Component .... 7
c .::. ) ~~ ffK tb· ;t ~fi 'tt ~* ................ .. .......... .................................. 8
iii. Statement of Implementation of Grant Agreement ......................... 8
( 12!1 ) if )fl ~ ? ** ................................................................. ......... 9
iv. Special Account Statement .............................................................. 9
( 1i ) Jilt ~**13ft1i ........................................................................ 11
v. Notes to the Financial Statements ........... ....... ................................. 14
:=., $it it~~ ltiJ P~L&9tix .................................................................. 17
III. Audit Findings and Recommendations ............................................... 18
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~~= +ooiliw~*~w~~m~x~~ Is% IB~ itj(.-P_!b : 030001
t1! : 86-0351-2021892
1t1i-: 86-0351-2021892
I. Auditor's Opinion Auditor's Opinion
To IFO Project Management Office of Shanxi Province Government:
We have audited the special purpose financial statements (from page 5 to page 16) of the Grant for Proposed China GEF Provincial Energy Efficiency Scale-up Project (Shanxi), which comprise the Balance Sheet as ofDecember 31,2012, the Summary of Sources and Uses ofFunds by Project Component, the Statement of Implementation of Grant 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 Grant 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 fmancial statements in accordance with Chinese accounting standards and system, and the requirements of the project grant agreement;
ii. Designing, implementing and maintaining necessary internal control to ensure that the fmancial statements are free from material misstatement, whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these fmancial 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.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fmancial 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.
Audit Opinion
In our opinion, the financial statements identified in the first paragraph present fairly, in a11 material respects, financial position of the Grant for Proposed China GEF Provincial Energy Efficiency Scale-up Project (Shanxi) as of December 31, 2012, its financial receipts and disbursements, the project implementation and the receipts and disbursements of special account for the year then ended in accordance with Chinese accounting standards and system, and the requirements of the project grant agreement.
Other Matter
Since there was no application for withdrawal during the period, we have not expressed our opinion on it. The audit report consists of the Auditor's Opinion and two more parts hereinafter: Financial Statements and Notes to the Financial Statements, Audit Findings and Recommendations.
~
Shanxi Provincial Audit Office of the People's Republic of China June 28, 2013_/
Address: No. 18 Wenyuan Street, Xinjian South Road, Taiyuan City, Shanxi Province, P.R. China Postcode: 030001 Tel.: 86-0351-2021892 Fax: 86-0351 -2021892
The English translation is for the convenience of report users; Please take the Chinese audit report as the only official version.
_ ,
II .Financial Statements and Notes to the Financial Statements (-)itf*.!JZ-1*f* i .Balance Sheet
~4t-f-t1* BALANCE SHEET
2012~12n3lf 1
(As of December 31. 2012)
~~~#: ~-~-£~~•••1••••r~§ (iliB) Project Name: The Grant for Proposed China GEF Provincial Energy Efficiency Scale-up Project(Shanxi)
~••tt: iliw•~moo~~~-~~-~-~~• •ffi•Q·A~ffi~ Entity Name: IFO Project Management Office of Shanxi Province Government
Currency unit: RMB Yuan
m~n-m tt?X WlfJJt'7 Wl?K~ Application ofFund Line No. Beginning Balance Ending Balance
- ' lm tl xlfl-frit Total Project Expenditures I 2,876.335.45 I 1,654,363.86
I' ~-f;j'~fflmF Fixed Assets Transferred 2
2, tH~if~Jmt:utt.e 3
Construction Expenditures to be Disposed
3, $ttUN~ Investments Transferred-out 4
4, {l " ftT~ Construction in Progress 5 2,876,335.45 11 ,654,363.86
- · J•V.l&~F ~.QN~~~Investment Grant 6 Receivable
Jt.cp: J•V.i&~F !fi{!ttltrrle~ Including: World Bank Investment Grant Receivable 7
=-· f.Ht8T~N~9ej); Appropriation of Investment Grant 8
J ~ c:r , ~ 11 ut rr~.'t~ tnctudmg: Appropnataon ot World ~ani: 9
Investment Grant
V4, ~:M Equipment 10
Jl.tp: ~~~lllt~;Mffi~ Including: Equipment Loss in Suspense
II
3i, ~ ffi ~~"C-it Total Cash and Bank 12 1,846,190.05 4.333,260.12
I , tUrr#~ Cash in Bank 13 1,846.190.05 4.333,260.12
Jlcp, -!fffl~.P#~ Including: Special 14 Account 0.00 2.463.974.08
2. Jl ~ Cash on Hand 15 1-.. fili-11 .&J•ila&~-fritTotal Prepaid and Receivable 16
-t. i'iffi"i1E~ Marketable Securities 17
II.. . 11i!1E'eiFfri.t Total Fixed Assets 18
l;t;l )£ ~ F ~ ffi' Original Cost of Fixed Assets 19
~:~itt'TIII 20
Less:Accumulated Depreciation
!1;1 ~~r<'i;t{fi Net Value of Fixed Assets 2 1
li'il ~ ~ r"' in If Fixed Assets Pending Disposal
22
f:tJ~.f!
~4tljl-ttf* (~ ) BALANCE SHEET (Continued )
2012~ 1 2}13 1 n (As of December 31. 2012)
~~~•= ~-~~£~~••••••••r•~<iliw> Project Name: The Grant for Proposed China GEF Provincial Energy Efficiency Scale-up Project (Shanxi)
~la-'-1.1 : ili W -11 .f1Jlf1 00 llif~~~ll.~ ~1);1' J!1J-%1: JJHP t'f!hl: AE\:;fP;~ Entity Name: IFO Project Management Office of Shanxi Province Government
~~*~ rr~
Sources of Fund Line No.
-, .l~ tl11(;l.i:-frit Total Project Appropriation Funds 25
_, J!)j tl ~~ ~jljj! tl ~~0~ 26
Project Capital and Capital Surplus
Jt'P: m~!t lncluding:Grants 27
-: ' ~ tl ~ .!tC" it Total Project Grant 28
t. ~ tl t!.! ~ R."'.;); Total Project Investment Grant 29
(I ) l3ii:S'~~.}):Foreign Grant 30
(2)Pil ~flfM:Domestic Loan 31
2. Jt't::m·~other Loan 32
V4, I·JJH~A.N:~~~~ 33
Appropriation of Investment Grant Jlcp ; :lliA.l!lrr~;}~ Including:
World Bank Grant 34
Ji, 1£~1.Mi~~ Bond Fund 35
fr., t1i't'IMI:lx:t: Project Expenditures to be Offset . 36
-t. l•Y.H Jtfrit Total Payable 37
)\' ,f:~~-c- it Other Payable 38
)1., UH.llA.~~ Appropriation of Fund 39
1·, fl'fl~l&A. Retained Earnings 40
~~*~-frit Total Sources of Fund 41
Currency unit: RMB Yuan
Wlt'J~ W:l*ij& Beginning Balance Ending Balance
4,7 16,390.00 12.325.1 06.00
2514.200.00
2.514.200.00
2,514.200.00
I, 13 1.460.00
6.135.50 16.857.98
4. 722.525.50 15,987,623.98
(-=-) ~ 13 i&Jjt~ ---ll .Summary of Sources and Uses of Funds by Project Component
~13lltlt3&: SUMMARY OF SOURCES AND USES OF FUNDS BY PROJECT COMPONENT
-*M~£ 20 12'.f12fJ31IJ (For the period ended December 31. 20 12)
~§~•= ~-~~a•~•~••••••r~§ <iliW> Project Name:The Grant for Proposed China GEf Provincial Energy Efficiency Scale-up Project(Shanxi)
~••tt= iliw•~moo~•~·~~~~~~~-Prepared by: IFO Project Management Office of Shanxi Province Government
J]! t:IJtW (Project Expenditure)
e.~ ftitf FAssets Transferred ~§pg~ l it:t lli -lf.;t.:r.{l Project Component Cumulative III Jt ~c_,..t 1X.iJJ1ttr- x%*"F :i~Jif * ;tr-
~ iflJf!-1.fL : A ~ iP jt Currency Unit: RMB Yuan
{~~{~!)~ § ~lli *~ tiHfitf Construction
Investments Work in Progress Expemditures to
Transferred-out Amount Current Intangible Deferred be disposed Fixed Asset Asset Asset Asset
I I
!
I. iS" h~ Jil ~ 1' 189,972.00 - -1,189,972.00 - - - -EC Service
2Jt9A:iH~ 4,063,903.00 - -4,063,903.00 - - - -EC in Buildings
3. itfi~ 1\[ ~ - - - - - -EC Supervision 3,817,123.00 3,817, 123.00 4. nUiHfl-~ &Jlt ~ ~Jtt Study on Energy Price and - - - - - -the Finance and Taxation Policies
5. ;s- n~ t1t it EC Statistics 1,275,898.00 I ,275,898.00
6.~~~athAt~~h~~ Build capacity for EE
1,307,467.86 1,307,467.86 Programe management and surervision in local ruhlic-sector implemeting
~it I I ,654,363.86 - -II ,654,363.86 - - -Total
( -=- ) -* ~ t~ Jt tJt. .ft ·It~* iii.Statcment of Implementation of Grant Agreement
~ ffiX t?J- jf t)L1f ·t~ {)L* STATEMENT OF IMPLEMENTATION OF GRANT AGREEMENT
*M:#£.¥:20121-r: 12fJJ t IJ (For the period ended December 31, 2012)
~§~#: ~~*~a•••••ft•~••r~§ <ili6l Project Name:The Grant for Proposed Ch ina GEF Provincial Energy Efficiency Scale-up Project(Shanxi)
•••~: iliw•~moo~•~•~•••~~~• Prepared by: IFO Project Management Office of Shanxi Province Government
~}:£~\¥/~~11 *~!.l~~~ ~§.llJ Grant Amount Current-Period Withdrawals
Category ~:76 ~ft 1fi il A R. ff.i USD uso RMB
I, T~ Works - -
2, :m4m Goods 742,000.00 - -
3, ~i11Jn!H~·*Pt#i)ll Consultants' Services 3,570,121.00 8,025.68 50,445.4 1
and Training
4, -~· J.H Y!KF 39 1,974.32 2,463,754.59
Special Account
s, ~ R lfi:Jiieq-JP.X; * Incremental 150,000.00
Operating Costs
0il· 4,462, 121.00 400,000.00 2,514,200.00
Total
!?(•.-&; : ·:tut:.l A E\!; ifi )G
Currency unit: USD/RM B Yuan
~it~~~ Cumulative Withdrawals
*7G 1fiil A~ffi :
USD RMB
- -
- -
8,025.68 50,445.41
39 1,974.32 2,463,754.59
400,000.00 2,5 14,200.00
iv. Special Account Statement
{-Jfl'*?** SPECIAL ACCOUNT STATEMENT
'*-/Vl~~ 20121¥- 12}] 3 I 8
(For the period ended December 3 I, 2012)
Project Name: The Grant for Proposed China G EF Provincial Energy Efficiency
Depository Bank: Business Dept.,Taiyuan branch, China Merchants bank
Scale-up Project (Shanxi) ~ 1t%: TF098703-CHA Grant No.TF098703-CHA ~~.¢1.tz:: ww~.!ilt.i!ffl
~%: 351900099032302 Account No. : 35 I 900099032302 j;trp~~: ~jt
Currency: USD Prepared by: The Finance Deparunent of Shanxi Province
A ffll*: J,.:WJt IIJ!lJ'til:()tfifl£ ~ Q
Pan A-Account A cliVI!} for the Current Pennd Amount
WHIJ.ft'ftl~ Begmnmg Balance
f'l.ftl: Add
~' IOJIItl r l••l~~ .!,;t "filii Total Amount Deposited this Penod b~ World Bank
~~~~l&AD~<UAtiiJ&~m*> Total lnltrest Earned th1s Penod 1f Dcpos1ted tn Spectal Account
-l•llll1-i'H* *.llltliEDiA Total Amount Rdunded lh1s Penod to Cover Ineligible Expenditures
iliP: Deduct
* 10 l..ld ·t .{,) 1WI Toull Amount W1thdra"11 this Period
~~~~Mrr~uc~~~*~~m Total Serv1ce Charges th1s Penod 1f not Included 1n Above Amount W11hdra\\11
l!IJ~~~;ill
Ending Balance
( !6 !~ To be continued )
-
400.00000
39.92
-
-
8,02568
500
392,009.24
~ ft:;! BillS~: "!illlllJ"i.l1 ·i~
Pan B-Accoum Reconciliation Amount
I I li fliX{t~.Q· AmountAd,anced b) World Bani. 400.00000
ilt 1>: ~UCI -
:J IIU?t!Hil"li&.~~Yi -Total Amount Recovered by World Bank
3 ,f,:JOJlOJ~~~~~~Ii!f'I"\.1Xk·IAXI1f$l
Outstandmg Amount Advanced to the Special Account at the End of this 400.000.00 Penod
-1 t IUitJ'•lOJJ..~llii! Endinl! Balance ofSpec1al Account
392,009.24
Jl'fiAI:
Add -s -~~~AA~~~~-~~w~~*~~ -Amount Cla1med but not yet Credited at the End of this Pcnod
~i,? IPl -$-filA Applicauon No Amount -
-
-
6 ~-f•JOJIOJ~ ~](: HIH f.\l ;t If! ifflallt~li 8,025.68 Amount W1thdra\\T1 but not vet Claimed at the End ofth1s Penod
7 ijfHrt'l~il xll: cwt~1l'rr s ..fU 6 f!rfl > 5.00 Cumulative Service Charges (If not Included m Item 5 or 6)
;I{ 1>: -Deduct
8 ~LtM~A <(iA tlllll:f'i'lll~> 39.92 Interest Earned (If Included m Spec1al Account)
9 -I•W,IOJJ;. t IUtr-f• ri iX{i n;~·n Total Advance to tho! Spec1al Account Accounted for at the End of this 400.00000 Penod
1. ~ § ,fe,t {)(. w W::ru'~JtJf\~jt£~ ( GEF) ~~#X~~~~1:1z~ § -f 2008 !tt- 11 JJ
~MjfJc$5ftl-i-Jt~:!~.£~tl~>1L 3i'J A 2009 ~ GEF ~ 00 OOJJtl :rJJi § ~~~J.
2011 ~ 2 JJ i£WJ~ Eli~~~, 2011 ~ 5 JJ 17 E ~tlt~lriff.*i?-tl~Jit
~~~~,:IJJiEl*A~~~&.:IJJiEJ~fiM~~~~··~El~~~ EJ#~:~~oo~~*~~~ft~~*~~~,~§~~*M~~~
~&~-~~~,~-~·~~~~~--~~'·*·~~-~~ ~~~~-~~~h,it~~~~~*~~•~,•~I~.~m~ ~~~#·~~-~~~«~~~-~m~$,AW~~~~~~~ EJ#. ~~,~-~~~~~~·~*~~EJ-~A~~~~'*w ~ ~ tf 00~~, IR ~ ij~I1t.
Jffi El ~~·~1f~ 1,353 7J~jt, t!f~A.~ rfi 9,159.81 7Jjt. ~{tlJfl
~J*-lf1t£~ ( GEF) ~ 447 E ~jt, tJf~A~ rp 3,026.19 ],Jjt, t5 ~~·~1fEt-J 33%; M.*~~~~·~~ 906 E ~jt, t!f~A.~ rfi 6,133.62 7J jG' ti ~~· ~ ~ ~ 67 %.
*1:9! El ~:i±.:t#~P"f ;\-t-1-~ §, ~~~JU~~~~~F~ §{if : ( 1)
.:t#~~~~l~r~Jfjt, *t~jtJl~~~~l~~w; (2) .:t#•~~ ~~, ~~·~~~~*~m~h, it~•~~~~~!*~; c 3) .:t#~a~.t 1r, 7Jp~£}M[~1t*•i~, •fi-~a~tJu! a~h; c 4) * Jl :.P a~~•~JL 1Jt*•iL a~~~-~ ~1fl-ti~ _ijij-lfk~mh~~tl; c 5) .:t#~ ¢j~~it~~h Jt 1~, Jt± ¢j~$I~:k•t~** m; c 6) ~~47 ~:IJJi §I tJLtrij~}J.
2.P1t 9}*-*f,!iij ~J ~IE *M~**Et-J•~~~E~gww~~moo~~Mm~~-9~
~~*' ww~~~~.ft~ff-~#~.~~~4-t-f-:IJJi§*fiEt-J
Plt9}**&ww~~~ff~ffl~?**·
3.~t:i?-itlfk5tt
3.1 *:IJJi §I atM9}ti<~.I.1t4JLfi «~$A.~#{P00i?-it~». M~
$7JYi£~ «tlt~il1f~~:rJJi § ~ittt~VJ.5t»C !#~iF* C 2000J 13 ~ ).
3.2 %it.ft~~lt-*JfJ 1.\J}J ~~U, &p/1}-f)J 4t~ 1 }J I E ~ 12 }J
31 E.
3.3 it<~ 13 ~it{!<~!;)_ ";fxjt :£".!:!:. ~J"1f ~ iE.WiC~P!L -*JfJ 1*~~ ~~~~~~ , ~A~ffl~~~*ttffl.
3.4 ~~ cf I!JA~~1T 2012 ~ 12 }J 31 E Yr.$, ~p USD1=A~
rp 6.2855 jG.
4 Alt~:# 13 1-Jt f!A 4.1 lfli 13 j: ill 2012 ~ Jfli 13 j: ill A~ FP 8,778,028.41 JG, .lit j: ill A~ ff5
11 ,654,363.86 .7t, t~it:JGu,~,~*Fit 12.72%.
4.2 ~$*4L 2012 it- 12 JJ 31 E ~ $ **~~7-1 A~ $ 4,333,260.12 5t, bLl:_
~ ~ }Jp A ~ ff5 2,487,070.07 .7t, :!t t:f -v JfJ ~ ,P 1f #~ fJf ~A~ ff5 2,463,974.08 jG 0
4.3 mit~ 2012 .if 12 }J 31 E ~~7-7 A~ ff5 1,131,460.00 .7t, 7-1 ill W 1~1' ~1~
~ -:p ~~ ]i~ ,~,~AS it#~ lfli.
4.4 lfli §1 tJt fi 'tff% ~ J1: 2012 ~ 12 }J 31 E , Jfli 13 J. it~ ill A~ $ 11,654,363.86 .7t,
;tt. t:f -:p a~~t9J--Tlfli 13 J. it~ ili 1,189,972 .7t; Jt$t~ ~~ -Tlfli §1 .lit~ l±l 4,o63 ,903 .7t ; -:pa~~~-Tlflil3 .lit .X ill 3,817,123 .7t; -:pa~mit-T lfli §1 »-it x ill 1,275,898 Jt ; ~ ~ 41 ~ tJLfi a~ JJ -r ~ 13 '-it j: ill 1,307,467.86 jG' $ cp-§~X.Jt#! :iik 445.41 Jt.
5. -v )fJ J*? ~)f] 'tf% *lfli§J-vJfJJ*?~~~~~fi*~~~fi~~~, ~%
35193099032302, $#7-11kfc. 2012 it-lfui!tfi!flit~~4L- 40 7.71k.7t,
~1t~ § .!fl-1iL 8,025.68 fkJt, {-JfJ.D*?5fU.~,~A 39.92 fkJt, x1t-f t~ft 5 ~JG, ~JfJ.D*? ~~*~iYil:J 392,009.24 ~jto
·.
v. Notes to the Financial Statements
Notes to the Financial Statements
1. Project overview The Grant for Proposed China GEF Provincial Energy Efficiency Scale-up Project (Shanxi) was approved by Ministry of Finance in China and GEF in November 2008 and enrolled in GEF national project planning in 2009. Negotiation of project was completed in February 2011 and officially authorized by the Board of the World Bank at May 17th 2011. The project implementation period is expected to be four years.The general goal of this Project is: to conduct the studies on energy conservation regulations and policies at provincial level by taking the advantages of the internationally advanced experience and management ideology; to sophisticate the motivating mechanisms through resource pricing and funding practices; to elevate the provincial institutional capacity in energy statistics and supervision; to promote the market of energy conservation services; to improve the energy efficiency in the main energy-intensive facilities including industry, public facilities buildings; and to finally achieve the quotas of energy conservation and emission reduction (EC & ER). Meanwhile it is to facilitate the public acceptation to the energy-efficiency measures, technologies and projects, and to make it as a demonstration to the energy conservation (EC) work in other provinces and autonomous regions in China.
The total investment of the project is $13.53 million, equivalent to RMB 91.5981 million yuan, in which USD 4.47 million will be from GEF grant equivalent to RJ\.1B30.2619 million yuan, 33% of the total);The matching fund is $9.06 million ,equivalent to RJ\.1B 61.3362 million yuan, 67% of the total.
The project achieve the purpose of energy-saving and emission-reduction according to support six subproject:(l)Supporting the Energy Conservation Service Industry, Incubating and Developing the Energy Conservation Service Firms;(2)Supporting Energy Conservation in Buildings, improve the ability of management in building energy-saving; and promote the consumption of building energy saving;(3)Supporting, Developing and Strengthening the Supervision and Administration System of Energy Conservation and the Enforcement Capacity;( 4)Research on Energy Conservation Policies to Promote the Pricing and Financial Motivation Mechanism for Energy Conservation;(5)Support the capacity of energy-saving statistical and building energy efficiency index system;(6)The sub-project of the improvement of project management and monitoring capacity for the project.
2. Consolidation Scope of the Financial Statements Consolidation scope of the financial statements covers the fmancial statements of the project office of IFO Project Management Office of Shanxi Province Government, 4 subproject implementing offices in Shanxi Provincial Economic and Information Commission (SXEIC), Department of Housing and Construction , Statistics Bureau, and Pricing Bureau as well as the Special Account set in the Provincial Finance Department.
3. Accounting Policies
3.1 The project's financial accounting work strictly enforce Accounting Law of The Peoples Repuplic of China, Accounting Measures for the Loan Project of the World Bank (CAIJIZI[2000]N0.13),which is issued by Ministry of Finance.
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. RMB is used as the recording currency of bookkeeping.
3.4 The exchange rate adopted in the financial statements was the exchange rate on December 31, 2012 of the People's Bank of China, which is USDl = RMB6.2855 yuan.
4. Explanation of Subjects
4.1 Total Project expenditures The project expenditure in 2012 was R.MB 8,778,028.41 yuan, and the cumulative expenditures were RMB11,654,363.86 yuan, which accounted for 12.72% of the total investment plan.
4.2 Cash and Bank On December 31, 2012, the balance was RMB 4,333,260.12 yuan, with an increase of RMB 2,487,070.07 yuan compared with that of the last year. And the funds in the Special Account were converted to RMB 2,463,974.08 yuan.
4.3 Payable
The balance on December 31, 2012 was RMB1,131,460.00 yuan, which
is the prepayment of the Energy Saving Supervision Corps of Shanxi
Provincial Economic and Information Commission.
4.4 Project Implementation By the end of December 31, 2012 , The project expenditure was RMB 11,654,363.86 yuan, and the cumulative expenditures of Energy Saving Service were RMB 1,189,972 yuan; the cumulative expenditures of Energy Conservation in Buildings were RMB 4,063,903 yuan; the cumulative expenditures of Energy Conservation supervision were RMB 3,817,123 yuan; the cumulative expenditures of Energy Conservation Statistics were RMB 1,275,898 yuan; the cumulative expenditures of the Improvement of Project Management and Monitoring Capacity for the Project were RMB 1,307,467.86 yuan,which included exchange gains and losses of RMB 445.41 yuan.
5. Special Account The Special Account of this project is set in Taiyuan Branch, China Merchants Bank, with the account number of35193099032302, and USD as currency Unit. The project unit applied for the World Bank revolving funds of USD 400,000 in 2012, which USD 8,025.68 was spent. The interest earned was USD 39.92. The pay fees were USD5. The ending balance was usp 392,009.24.