“Climate Adaptation and Mitigation Program for Aral Sea Basin” Credit No. 5742-TJ The project financial statements for the period from January 22, 2016 to December 31, 2016 and for the year ended December 31, 2017 and independent auditors’ report Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized
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“Climate Adaptation and Mitigation Program for Aral Sea Basin” Credit No. 5742-TJ
The project financial statements for the period from January 22, 2016 to December 31, 2016 and for the year ended December 31, 2017
and independent auditors’ report
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“CLIMATE ADAPTATION AND MITIGATION PROGRAM FOR ARAL SEA BASIN” CREDIT NO. 5742-TJ
TABLE OF CONTENTS
Page
STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION
AND APPROVAL OF THE PROJECT FINANCIAL STATEMENTS
FOR THE PERIOD FROM JANUARY 22, 2016 TO DECEMBER 31, 2016 AND
FOR THE YEAR ENDED DECEMBER 31, 2017 2
INDEPENDENT AUDITORS’ REPORT 3-5
THE PROJECT FINANCIAL STATEMENTS
FOR THE PERIOD FROM JANUARY 22, 2016 TO DECEMBER 31, 2016 AND
FOR THE YEAR ENDED DECEMBER 31, 2017:
Summary of funds received and expenditures paid 6
Summary of expenditures paid by project components 7
Notes to the project financial statements 8-18
STATEMENT OF MANAGEMENT’S RESPONSIBILITIES FOR THE PREPARATION ANDAPPROVAL OF THE PROJECT FINANCIAL STATEMENTS FORTHE PERIOD FROM JANUARY 22, 2016 TO DECEMBER 31, 2016 ANDFOR THE YEAR ENDED DECEMBER 31, 2017
The following statement, which should be read in conjunction with the independent auditors’ responsibilities is made with a view to distinguish the respective responsibilities of management and those of the independent auditors in relation to the project financial statements of the Project “Climate Adaptation and Mitigation Program for Aral Sea Basin”, Credit No. 5742-TJ (the “Project”).
Management is responsible for the preparation of the project financial statements that present fairly, in all material respects, the summary of funds received and expenditures paid and the summary o f expenditures paid by project components for the period from January 22, 2016 to December 31, 2016 and for the year ended December 31, 2017 in accordance with International Public Sector Accounting Standard “Financial Reporting Under the Cash Basis of Accounting” (the “IPSAS”) issued by the International Public Accounting Standards Board o f the International Federation of Accountants and the World Bank’s Financial Management Sector Board’s “Guidelines: Annual Financial Reporting and Auditing for World Bank Financed Activities” (the “WB Guidelines”).
In preparing the project financial statements, management is responsible for:
» selecting suitable accounting policies and applying them consistently;» making judgments and estimates that are reasonable and prudent;• stating whether IPSAS and WB Guidelines have been followed, subject to any material departures
disclosed and explained in the project financial statements; and• preparing the project financial statements on a going concern basis, unless it is inappropriate to presume
that the Project will continue its activity for the foreseeable future.
Management is also responsible for:
• designing, implementing and maintaining effective and sound system of internal control and for revealing risks in system of internal control;
• maintaining proper accounting records that disclose, with reasonable accuracy at any time, the financial position of the Project, and which enable them to ensure that the project financial statements of the Project comply with IPSAS and WB Guidelines;
• compliance with laws and regulations of the Republic o f Tajikistan, accounting system of the Project and the requirements of the World Bank;
• taking such steps as are reasonably available to them to safeguard the assets of the Project; and• detecting and preventing fraud and other irregularities.
The project financial statements for the period from January 22,2016 to December 31,2016 and for the year ended December 31, 2017 were approved and authorized for issue on June j/2 0 1 8 by the management of the Project.
On behalf of the
Nozimov I. Acting of MOF PMU
Isoev R.Head of planning, accounting and financing department of CEP
June 1, 2018Dushanbe, Republic of Tajikistan
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“CLIMATE ADAPTATION AND MITIGATION PROGRAM FOR ARAL SEA BASIN CREDIT NO. 5742-TJ
“CLIMATE ADAPTATION AND MITIGATION PROGRAM FOR ARAL SEA BASIN”
CREDIT NO. 5742-TJ NOTES TO THE PROJECT FINANCIAL STATEMENTS FOR THE PERIOD FROM JANUARY 22, 2016 TO DECEMBER 31, 2016 AND FOR THE YEAR ENDED DECEMBER 31, 2017 (in US dollars)
1. GENERAL INFORMATION
According to the Financial Agreement between the Republic of Tajikistan and International
Development Association (the “IDA” and “World Bank”) signed on July 30, 2014, the World Bank
provided a Credit No. 5742-TJ in the amount of 6,400,000 Special Drawing Rights (the “SDR”) to the
Republic of Tajikistan.
The credit was provided for the Project “Climate Adaptation and Mitigation Program for Aral Sea
Basin” (the “Project”).
Project purpose
The objective of the Project is to enhance regionally coordinated access to improved climate change
knowledge services for key stakeholders (e.g., policy makers, communities, and civil society) in
participating Central Asian countries as well as to increased investments and capacity building that,
combined, will address climate challenges common to these countries.