REPUBLIC OF KENYA
KENYA NATIONAL AUDIT OFFICE
REPORT
OF
THE AUDITOR-GENERAL
ON
THE FINANCIAL· STATEMENTS OF WATER AND SANITATION IMPROVEMENT
PROJECT (IDA GRANT NO. 4376-KE)
FOR THE YEAR ENDED 30JUNE2014
ATHI WATER SERVICES BOARD
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IMPLEMENTING ENTITY: ~!~i.W.~!~r .. ~~r.Y.~~-~§.~~m:~
PROJECT GRANT/CREDIT NUMBER: IDA 4376-KE
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED JUNE 30, 2014
Prepared in accordance with the Cash Basis of Accounting Method under the International Public Sector Accounting Standards (IPSAS)
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
CONTENTS PAGE
1. PROJECT INFORMATION AND OVERALL PERFORMANCE ......................................................................................................... i
2. STATEMENT OF PROJECT MANAGEMENT RESPONSIBILITIES ............................................................................................... vi
3. REPORT OF THE INDEPENDENT AUDITORS ON THE WATER AND SANITATION SERVICE IMPROVEMENT PROJECT .... vii
4. STATEMENT OF RECEIPTS AND PAYMENTS FOR THE PERIOD ENDED 30TH JUNE 2014 .................................................... 1
5. STATEMENT OF FINANCIAL ASSETS AND LIABILITIES AS AT 30TH JUNE 2014 ...................................................................... 2
6. STATEMENT OF CASHFLOW FOR THE PERIOD 30TH JUNE 2014 ............................................................................................ 3
7: STATEMENT OF COMPARATIVE BUDGET AND ACTUAL AMOUNTS ........................................................................................ 4
8. NOTES TO THE FINANCIAL STATEMENTS .................................................................................................................................. 5
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
1. PROJECT INFORMATION AND OVERALL PERFORMANCE
1.1 NAME
IDA Grant/Credit Number: 4376-KE
REGISTERED OFFICE
Athi Water Services Board P.O. Box 42583-00100 GPO Africa-Re Centre, 3rd Floor Hospital Road-Upper Hill NAIROBI
Objective: The development objectives of the project are to: (a) increase access to reliable, affordable and sustainable water supply and sanitation services; and (b) to improve the water and wastewater services in the areas served by A WSB, CWSB and L VNWSB. This will be achieved by (i) Rehabilitating selected existing water production, transmission, storage and distribution facilities and wastewater collection, treatment and disposal facilities; (ii)expanding piped water supply services to under-served areas through the extension of primary and secondary distribution pipes where required (this would include service expansion into urban slums I informal settlements through a balanced program including the involvement of communities in decision making); and (iii)refining and strengthening the institutional structure, emphasizing on increasing accountability and transparency of the institutional, governance and management framework.
Address: The projects headquarter offices are in hospital road, Upperhill, Nairobi, Kenya.
Water And Sanitation Service Improvement Project Reports and Financial Statements For the.financial year ended June 30, 2014
1.2 Project Information
BasiC·Information
;country: JKenya ' Water and sanitation Services 1
Project Name:
Project ID:
:Original Total 'commitment:
;USD 71,461,879
.. _i~ ~111?~_r( s): .Disbursed :Amount:
-·-,_,_,, .. -~--··-··•-'·-· ·---·-·- ·- ,_ ·-·--··-~-- .• -~---~··•'"'"
i . iSIL - Specific Lendmg Instrument :I L · '. nvestrnent oan
:Guarantor
!~pr?~~~~l1! __ fE<:>J~~t-~~~S.S.I~L.... . .... l
lmA-4376-0 KE
:uso 65, I 52,488.51 --··»<·~"~······-··.,·-"'""'
'
!Kenya i
"' -- -· ----~---· -· ,,,..~---- ·- "'--~--~----"---~--, "' ""' -· ~·"'" ·~- ~~~,-~-. ~'"
-·" ~--- -~ -"-···-~·-- , ____ ,_,, __ ·---~-- --·- ·- -·~"---··~·,,.~~----~ --···----"'"""-" ----~- ·-. ·-----·-· -·--·-·--~-- _" ____________ "\·--·-·""·--- ·~------- ····- - -···--~"-~ ~----- . -~------·- ---~----
:l:~~~ !)'pe,_. . ... _!!?~~-!!?~-~~~.<!i_~ iLoan .!~~~···~--·~oy:~~r.~ .. i !MINISTRY OF :Borrower of Record 'FINANCE 'Grace Period :10 Years .... ········-····-····· .,. ·····--···········---· ··-···-····- ·········-···. .....••.... ....... ·········•·•·· ......... ······•·········· ······· ..
~!!!!E~~~~~!~-~~~!~g~_ry_:_~---·-··· ····--·-··-······-- ·-· -·- ······- ·····-········· ----·-· .................. . [Implementing Agencies:
Athi Water Services Board
:Application
········ --~·-·········- ··-····-·····.J~c:~~!!~~---······-·-···· 20-Dec-2007 30-Apr-2013 .Approval
'
Signing 03-Aug-2008
Effective
15-0ct-2047
1.3 Project Overview
Project components. The project would have three major components: (I) support to the Athi Water Services Board (including limited complementary support to the Water Sector Regulatory Board and the Water Appeal Board6 through technical assistance, goods and works); (2) support to the Coast Water Services Board; and (3) support to the Lake Victoria North Water Services Board. These are summarized below. Within each component, there are two main subcomponents for water and sewerage infrastructure rehabilitation and expansion that are focused on increasing the access of safe water and sanitation services to the beneficiaries A further subcomponent of institutional strengthening of WSBs and WSPs is included under each
ii
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
component and is focused on the quality, reliability, affordability and sustainability of service provision to beneficiaries and the long term viability and sustainability of service provision institutions. Included under the institutional strengthening subcomponent is limited support to operational costs of new WSPs to cover cost of electricity, chemicals etc. Component I Support to the Athi Water Services Board (including technical assistance support to the Water Services Regulatory Board and the Water Appeal Board) - US$71.5m (IDA US$65.99m). This will include:
a) the rehabilitation and expansion of existing water supply systems including transmission pipelines, water treatment works, storage, water distribution networks, boreholes; construction of water treatment works in Nairobi and in selected small towns; and extension of water distribution networks and metering, including expansion of services to informal settlements and provision of meters, accessories and operational equipment to Nairobi City Water and Sewerage Company (NWSC);
b) the rehabilitation and expansion of sewerage networks and sewage treatment facilities, trunk sewers and extension of existing networks;
c) supporting selected equipment and activities aimed at strengthening the commercial, financial and technical operations at A WSB and WSPs; technical assistance for M&E, engineering, financial, legal, assets valuation, audits, informal settlements WSS program, communications, independent assessments of the institutional framework; supporting programs to increase oversight and transparency of service delivery; training and capacity building; supporting the implementation of environmental and social safeguards (as per the ESMF and RPF), supporting the operational costs of small WSPs for electricity, chemicals and consumables; supporting the operationalization and strengthening of the Water Services Regulatory Board (WSRB) arid the Water Appeal Board (W AB) through provision of works, goods, training and technical assistance services; and supporting NWSC through the provision of water meters, accessories and other operational equipment.
Summary of Performance: The project is in the second year of implementation IDA and has disbursed USD 65,152,488.51 which is approximately 99% of the project value. The commitments for the project were valued at 99 % of the project value.
1.4 Bankers
The following are the bankers for the current year: Designated account: CFC Stanbic Bank Kenya Account No. 00211140021900
Kenya commercial bank Kipande house branch Nairobi
Cooperative bank of Kenya Upperhill branch-kusco Nairobi
iii
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
1.5 Auditors The project is audited by Auditor General Kenya national audit office P.O.Box 30084~00100 Nairobi
1.6 Roles and Responsibilities
Names Title desianation Eng. Malaquen Milgo Chief Executive Officer Rose Nyaga Head Finance&
Strategy Eng. John Muiruri Head, Capital Planning Eng. Samuel Mbachia Technical Manager
1.7 Funding summary
Kev qualification Engineer Accountant
Engineer Civil Engineer
Responsibilities Project Coordinator Project Accountant
Project Engineer Project Coordinator
The Project is for duration of 3 years from 2012 to 2015 with an approved budget of US$63,652,488.51 of IDA Funds and government counterpart funds amounting to Ksh 150 Million equivalent to Ksh 5,560,461,523.35 as highlighted in the table below:
B I . th fl d. e OW IS e un mg summary:
Amount reeeived. to date- (30th Undrawn
Source of funds Oonor Comndbijent;. balance to date Jull.e 20.14)
(30th June 2014)
Donor Donor
Donor currency • Kshs currency
Kshs curren Kshs . . .. :cy ·. · ..
. · .. . .
(A) (;4') (BJ (!l'f fAJ~rm .. ..(A');.
.· . · . (B')
(i} GRANT
International Development 1,500,000.00 131,160,000.40 1,500,000.00 131,160,000.40 Nil Nil
Association (IDA) grant
(ii) Loan
International Development 63,694, 793.06 5,569,472,722.13 63,694,793.06 5,569,472, 722.13 Nil Nil
Association (IDA) Loan
(iii) Counterpart funds
Government of Kenya l,7l5,462.03 150,000,000.00 1,715,462.03 150,000,000.00 Nil Nil
Total 66,910,255.09 5,850,632, 722.53 66,910,255.09 5,850,632, 722.53 Nil Nil
iv
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
1.8 Summary of Overall Project Performance:
The project was fully disbursed and closed out by June 2014. The project achieved its objectives and this gave rise to the additional finance on the project.
1.9 Summary of Project Compliance:
The project complied with applicable laws and regulations, and essential external financing agreements/covenants
v
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
2. STATEMENT OF PROJECT MANAGEMENT RESPONSIBILITIES
The Chief Executive Officer and the Project Coordinator are responsible for the preparation and presentation of the Project's financial statements, which give a true and fair view of the state of affairs of the Project for and as at the end of the financial year ended on June 30, 2014. This responsibility includes: (i) maintaining adequate financial management arrangement and ensuring that these continue to be effective throughout the reporting period; (ii) maintaining proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Project; (iii) designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the financial statement, and ensuring that they are free from material misstatements, whether due to error or fraud; (iv) safeguarding the assets of the Project; (v) selecting and applying appropriate accounting policies; and (vi) making accounting estimates that are reasonable in the circumstances.
The Chief Executive Officer and the Project Coordinator accept responsibility for the Project's financial statements, which have been prepared on the Cash Basis Method of Financial Reporting, using appropriate accounting policies in accordance with International Public Sector Accounting Standards.
The Chief Executive Qfficer and the Project Coordinator are of the opinion that the Project's financial statements give a true and fair view of the state of Project's transactions during the financial year ended June 30, 2014, and of the Project's financial position as atthat date. The Chief Executive Officer and the Project Coordinator further confirm the completeness of the accounting records maintained for the Project, which have been relied upon in the preparation of the Project financial statements as well as the adequacy of the systems of internal financial control.
The Chief Executive Officer and the Project Coordinator confirm that the Project has complied fully with applicable Government Regulations and the terms of external financing covenants, and that Project funds received during the financial year/period under audit were used for the eligible purposes for which they were intended and were properly accounted for.
Approval of the Project financial statements
The Project financial statements were approved by the Chief Executive Officer and the Project Coordinator on 30th September 2014 and signed by them.
Chief Exeeutive officer
VI
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
4. STATEMENT OF RECEIPTS AND PAYMENTS FOR THE PERIOD ENDED 30TH JUNE 2014
PROJECT WATER AND SANITATION SERVICES IMPROVEMENT PROJECT ADDITIONAL FINANCE (WaSSIP-AF)
LINE MINISTRY MINISTRY OF ENVIRONMENT WATER AND NATURAL RESOURCES
INSTITUTION ATHI WATER SERVICES BOARD
IDA CREDIT NO IDA-4376 KE
REPORT STATEMENT OF RECEIPTS AND PAYMENTS
PERIOD OF REPORT YEAR ENDED 30TH JUNE 2014
30th June 2013 30th June 2014 Cumulative to Date
KSH KSH KSH
RECEIPTS
Opening Cash Balance 140,965.00 -3, 797,375.00 140,965.00
IDA USO-Designated account 5,227,447,004.00 190,970, 790.85 5,418,417,794.85
counterpart funds 0 150,000,000.00 150,000,000.00
Other income 6,302,819.00 3,900, 180.30 10,202,999.30
TOT AL RECEIPTS 5,233,890, 788.00 341,073,596.15 5,578,761,759.15 ' . ·• • /, '<
· ...... ' .. ' ' '•
.... ,·' •'' ' . ',
Less: Payments/ Expenditure by Category:
(as per Legal Agreement classification)
Non-current assets( goods and equipment) 653, 130,969.00 0.00 653, 130,969.00
Civil works (excluding non-current assets) 3,864,602,067 .00 193,443,014.71 4,058,045,081.71
Consultant services 486,659,392.00 74,402, 157.08 561,061,549.08
Resettlement compensation 89,744, 167.00 55,811,987.70 145,556, 154.70
Training study tours workshops and fellowships 94,990,233.00 6,627,309.50 101,617,542.50
Operating costs 48,561,335.00 5,442,821.05 54,004, 156.05
TOTAL PAYMENTS 5,237,688,163.00 335,727,290.04 5,573,415,453.04
BALANCEC/F ·3,797,375.00 5,346,306.11 5,346,306.11 ·· ...... ,','' > < .···,· .. ,·, •' ,' . ... '• ·.· • .
• ••• ' •' i ··' '
Actual Cash Balances
IDA USO-Designated account 194,144,155.00 0 0
Project Account -3,797,375.00 5,346,306.11 5,346,306.11
Others (Balances transferred to WaSSIP-AF) (973,850.97) (973,850.97)
Actual Total Closing Cash Balance 190,346,780.00 4,372,455.14 4,372,455.14
'"" .!\ h i '·, 1 '-Y" l .... .: \.,~ ' t
Chief Execuefve officer Proiect Coordinator
Date
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
5. STATEMENT OF FINANCIAL ASSETS AND LIABILITIES AS AT 30TH JUNE 2014
Actual Cash Balances 2013-2014 2012-2013
IDA USO-Designated account 0.00 194, 144, 155.00 Project Account 5,346,306.11 -3,797,375.00 Others (e.g. Imprest, advances etc) -973,850.97 Actual Total Closing Cash Balance 4,372,455.14 190,346,780.00
The accounting policies and explanatory notes to these financial statements form an integral part of the financial statements. The financial statements were approved on 30th September 2014 and signed by:
Date
2
Water And Sanitation Service Improvement Project Reports and Financial Statements For thefinancialyear ended June 30, 2014
6. STATEMENT OF CASHFLOW FOR THE PERIOD 30TH JUNE 2014
30th June 2014
Receipts for operating income Kshs
Receipts from IDA 190,970,791
Miscellaneous receipts : Interest Income 3,900,180
Counterpart funds 150,000,000
344,870,971
Payments for project expenses
Non Current Assets (Goods and Equipment) -Civil Works (excluding Non current Assets) 193,443,015
Consultant services 74,402,157
Resettlement Compensation 55,811,988
Training, study tours, Workshop and fellowships 6,627,310
operating cost 5,442,821
335,727,290
Net cash flow from operating activities 9,143,681
CASHFLOW FROM INVESTING ACTIVITIES
Acquisition of Assets -Net cash flows from Investing Activities
CASHFLOW FROM BORROWING ACTIVITIES
Wassip AF Balances (973,850.97) Net cash flow from financing activities
NET INCREASE IN CASH AND CASH EQUIVALENT 8,169,830
Cash and cash equivalent at BEGINNING of the year (3,797,375.00)
Cash and cash equivalent at END of the year 4,372,455
30th June2013
Kshs
241,916,220
6,302,819
248,219,039
9,094,000
370,801,312
119,191,765
20,993,275
7,334,345
15,866,551
543,281,248
(295,062,209 .00)
291,264,834
(3,797,375.00)
The accounting policies and explanatory notes to these financial statements form an integral part of the financial statements. The entity financial statements were approved on 30th September 2014 and signed by:
'';''/,, (\ ' \ \ G \J ~r?
Chief Ex/five O~cer Project Coordinator
/ 1-:r\ \ J') / ' • \. <.)•
Date
3
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
7. STATEMENT OF COMPARATIVE BUDGET AND ACTUAL AMOUNTS
Receipts/Payments Item Original
Final Budget Actual on
Variance Budget Comparable Basis
a c=a+b d e=d-c
Receipts
IDA 350,000,000.00 350,000,000.00 190,970, 790.85 159,029,209.15
Interest - - 3,900,180.30 -3,900,180.30
GoK counterpart funds - - 150,000,000.00 -150,000,000.00
- -Total Receipts 350,000,000.00 350,000,000.00 344,870,971.15 5,129,028.85
Payments
Non current assets( goods 5,500,000.00 5,500,000.00
and equipments)
Civil works (excluding non 195,000,000.00 195,000,000.00 I ,556,985.29
current assets) 193,443,014.71
consultant services 75,000,000.00 75,000,000.00 74,402,157.08
597,842.92
resettlement compensation 60,500,000.00 60,500,000.00 55,811,987.70
4,688,012.30
training study tours 7,000,000.00 7,000,000.00 372,690.50
workshops and fellowships 6,627,309.50
operating costs 7,000,000.00 7,000,000.00 5,442,821.05
1,557, 178.95
Total Payments 350,000,000.00 350,000,000.00 335, 727 ,290.04 8,772,709.96
Chief E~tive Officer Project Coordinator /
Date Date
4
%of Variance f=e/c %
1.47%
0.80%
0.80%
7.75%
5.32%
22.25%
2.51%
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
8. NOTES TO THE FINANCIAL STATEMENTS
The principal accounting policies adopted in the preparation of these financial statements are set out below:
8.1 Statement of compliance and basis of preparation
The financial statements have been prepared in accordance with and comply with International Public Sector Accounting Standards (IPSAS) with particular emphasis on Cash Basis Financial Reporting under the Cash Basis of Accounting. The financial statements comply with and conform to the form of presentation prescribed by the Accounting Standards Board of Kenya.
The financial statements are presented in Kenya Shillings, which is the functional and reporting currency of the Project and all values are rounded to the nearest one Shilling. The accounting policies adopted have been consistently applied to all of the years presented.
The financial statements have been prepared on the cash basis following the Government's standard chart of accounts. The cash basis of accounting recognises transactions and events only when cash is received or paid out by the Project.
I. Recognition of revenue and expenses
The Project recognises all revenues from the various sources when the event occurs and the related cash has actually been received by the Project. In addition, the Project recognises all expenses when the event occurs and the related cash has actually been paid out by the Project.
11. In-kind donations
In-kind donations are contributions made to the Project in the form of actual goods and/or services rather than in money or cash terms. These donations may include vehicles, equipment or personnel services. Where the financial value of in-kind donations can be reliably determined, the Project includes such value in the statement of receipts and payments both as revenue and as an expense in equal and opposite amounts; otherwise, the donation is not recorded.
m. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and cash at bank, short-term deposits on call and highly liquid investments with an original maturity of three months or less, which are readily convertible to known amounts of cash and are subject to insignificant risk of changes in value. Bank account balances include amounts held at the Central Bank of Kenya and at various commercial banks at the end of the financial year/period. For the purposes of these financial statements, cash and cash equivalents also include short term cash imprests and advances to authorised public officers and/or institutions which had not been surrendered or accounted for at the end of the financial year/period.
5
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
SIGNIFICANT ACCOUNTING POLICIES (Continued)
iv. Pending bills
Pending bills consist of unpaid liabilities at the end of the financial year/period arising from contracted goods or services during the year/period or in past years/periods. As pending bills do not involve the payment of cash in the reporting period, they are simply disclosed as an Annex to the financial statements. When the pending bills are finally settled, such payments are included in the statement of receipts and payments in the year in which the payments are made.
v. Budget
The budget is developed on the same accounting basis (cash basis), the same accounts classification basis, and for the same period as the financial statements. The Project's budget was approved as required by Law and National Treasury Regulations, as well as by the participating development partners, as detailed in the Government of Kenya Budget Printed Estimates for the year. A high-level assessment of the Project's actual performance against the comparable budget for the financial year/period under review has been included in an annex to these financial statements.
vi. Exchange rate differences
The accounting records are maintained in the functional currency of the primary economic environment in which the Project operates, Kenya Shillings. Transactions in foreign currencies during the year/period are converted into the functional currency using the exchange rates prevailing at the dates of the transactions. Any foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statements of receipts and payments.
vii. Comparative figures
Where necessary comparative figures for the previous financial year/period have been amended or reconfigured to conform to the required changes in financial statement presentation.
viii. Subsequent events
There have been no events subsequent to the financial year/period end with a significant impact on the financial statements for the year ended June 30, 2014.
6
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
8.2 RECEIPTS FROM GOVERNMENT OF KENYA
These represent counterpart funding and other receipts from government as follows:
Counterpart funding through Ministry of environment Water and natural resources Counterpart funds Quarter 1 Counterpart funds Quarter 2 Counterpart funds Quarter 3 Counterpart funds Quarter 4 TOTAL
8.3 PROCEEDS FROM IDA
2013/14 Kshs
99,000,000.00 51,000,000.00
150,000,000.00
2012/13 Kshs
During the 12 months to 30 June 2014 we received grants from donors as detailed in the table below:
Grants Received from Multilateral Donors (International Or anisations
Recei ts form ID A
Total
8.5 MISCELLANEOUS RECEIPTS
Interest income from bank deposit
nil
3(1th June 2014 30th Jun 201~ ·
Kshs Kshs
3,900,180.3( 6,302,819.0C
3,900, 180.3C 6,302,819.0V
7
Cumulative to-date
99,000,000.00 51,000,000.00
150,000,000.00
Cumulative to-date
10,202,999.30
10,202,999.3(
Water And Sanitation Service Improvement Project Reports and Financial Statements For the financial year ended June 30, 2014
8.12 CASH AND CASH EQUIVALENTS Cl.FWD
Actual Cash Balances 30th June 2014
IDA USO-Designated account 0.00
Project Account 5,346,306.11
Others (e.g. Imprest, advances etc) -973,850.97
Actual Total Closing Cash Balance 4,372,455.14
PENDING BILLS (Annex 2A)
The project is complete and has no pending bills
8
30th Jun 2014
194,144,155.00
-3,797,375.00
190,346,780.00
Water And Sanitation Service Improvement Project Statement of Budget Performance For the year ended June 30, 20Xl
ANNEX 1- VARIANCE EXPLANATIONS - COMPARATIVE BUDGET AND ACTUAL AMOUNTS
Actual on Comparable Budget Utilisation % of Utilisation
Final Budget Variance to Final Basis Variance
Budget
a b c=a-b d=c/a %
RECElPl'S DURING TIIE ... YEAR/PERIOD . IDA 350,000,000.00 190,970, 790.85 159,029,209.15
Interest 0 3,900,180.30 -3,900,180.30
GOK counterpart funds - 150,000,000.00 0.00
Total receipts 350,000,000.00 344,870,971.15 5,129,028.85 1.47%
PAYMENTS DUR;ING TllE YEAR/PERIOD Non Current Assets (Goods
5,500,000.00 And Equipment) Civil Works (Excluding Non
195,000,000.00 193,443,014.71 1,556,985.29 0.80% Current Assets)
Consultant Services 75,000,000.00 74,402,157.08 597,842.92 0.80%
Resettlement Compensation 60,500,000.00 55,811,987.70 4,688,012.30 7.75%
Training, Study Tours, 7,000,000.00 6,627,309.50 372,690.50 5.32%
Workshop And Fellowships
Operating Cost 7,000,000.00 5,442,821.05 1,557,178.95 22.25%
Other Payments
Total payments 350,000,000.00 335, 727 ,290.04 8,772,709.96 2.51%
The expenditure and receipts were within budget.
Comments on Variance
The increase was due to numerous forex transactions hence increase bank charges
Water And Sanitation Service Improvement Project Statement of Budget Performance For the year ended June 30, 20Xl
ANNEX 2A - ANALYSIS OF PENDING BILLS
The project had no pending bill.
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