30 JUN 2018 [<2 7o35 Dox Shanghai Municipal Audit Bureau of the People's Republic of China Audit Report ýti+4K [20183 194-5 SHANGHAI AUDIT REPORT [ 2018 3 NO.194 Project Name: Green Energy for Low-Carbon City in Shanghai Project Financed by the World Bank & Granted by GEF 82330-CN Loan No.: 82330-CN %5: TF-14205-CN Grant No.: TF-14205-CN Project Entity: Shanghai Changning Urban Renewal and Low-Carbon Project Management Center †#-i: 2017 Accounting Year: 2017 Contents - E . . . ........................... ................ ..... ............ ................... 1 I. A uditor's O pinion ....................................................................................3 II. Financial Statements and Notes to the Financial Statements.................6 ( )............................................................................... 6 i. B alan ce Sheet..................................................................................6 ( )...............................................................................7 ii. Summary of Sources and Uses of Funds by Project Component...? iii. Statement of Implementation of GrantAgreement ........................8 iv. Statement of Designated Account ..................................................9 ( 3 ) 4fl10....................0.......................... .1. ..................10 v. Notes to the Financial Statements .................................................13 III. Audit Findings and Recommendations .............................................17 一、审计师意见 审计师意见 上海市镼宁区城市更新和低碳项目管理中心： 我们审计了世界银行贷款和全球环境基金赠款上海绿色能源建设低 碳城区项目2017年12月31日的资金平衡表及截至该日同年度的项目进 度表、赠款执行情况表、专用账户收支表等特定目的财务报表及财务报表 附注（第6页至第15页）。 （一）项目执行单位及上海市财政局对财务报表的责任 簖制上述财务报表中的资金平衡表、项目进度表、赠款执行情况表是 是你单位的责任，簖制专用账户收支表是上海市财政局的责任，这种责任 包括： 1．按照中国的会计准则、会计制度和本项目贷款协定的要求编制项 目财务报表，并佼其实现公允反映； 2．设计、执行和维护必要的内部控制，以使项目财务报表不存在由 于舞弊或错误而导致的重大错报。 （二）审计责任 我们的责任是在执行审计工作的基础上对财务报表发表审计意见。我 们按照中国国家审计准则和国际审计准则的规定执行了审计工作，上述准 则要求我们遵守审计职业要求，计划和执行审计工作以对项目财务报表是 否不存在重大错报获取合理保证。 为获取有关财务报表金额和披露信息的有关证据，我们实施了必要的 审计程序。我们运用职业判断选择审计程序，这些程序包括对由于舞弊或 错误导致的财务报表重大错报风险的评估。在进行风险评估时，为了设计 恰当的审计程序，我们考虑了与财务报表相关的内部控制，但目的并非对 l 内部控制的有效性发表意见。审计工作还包括评价所选用会计政策的恰当 性和作出会计估计的合理性，以及评价财务报表的总体列报。 我们相信，我们获取的审计证据是适当的、充分的，为发表审计意见 提供了墓础。 （三）审计意见 我们认为，第一段所列财务报表在所有重大方面按照中国的会计准 则、会计制度和本项目贷款协定的要求编制，公允反映了世界银行贷款和 全球环境基金赠款上海绿色能源建设低碳城区项目20 17年12月31日的 财务状况及截至该日同年度的财务收支、项目执行和专用账户收支情况。 （四）其他事项 我们审查了本期内本项目赠款部分报送给世界银行的第6一7号和贷 款部分上海浦东发展银行报送的第6号提款申请书及所附资料。我们认 为，这些资料均符合协议要求，可以作为申请提款的依据。 本审计师意见之后，共同构成审计报告的还有两项内容：财务报表及 财务报表附注和审计发现的问题及建议。 毕， , 中华人二帷嘿摆熨局 一、．、、，一、、一。＿瓜计飞、渺、 地址：甲国上海币世博柯峪300亏‘＿、～万／尸产‘& 邮些簖码：200 125劝‘际那沙冲严 界竺：86一021一23’毕，,’今八州， 传具二86一021一63366323之 口 1. Auditor's Opinion Auditor's Opinion Shanghai Changning. Urban Renewal and Low-Carbon Project Management Center, We have audited the special purpose financial statements (from page 6 to page 15) of Green Energy for Low-Carbon City in Shanghai Project financed by the World Bank and granted by GEF, which comprise the Balance Sheet as of December 31, 2017, the Summary of Sources and Uses of Funds, the Statement of Implementation of Grant Agreement, and the Statement of Designated Account for the year then ended, and Notes to the Financial Statements. Project Entity's Responsibility and SFB's Responsibility for the Financial Statements Your entity is responsible for the preparation of the Balance Sheet, the Summary of Sources and Uses of Funds, the Statement of Implementation of Grant Agreement, and SFB is responsible for the preparation of the Statement of Designated Account, which include: i. Preparing and fair presenting the accompanying financial statements in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement; ii. Designing, implementing and maintaining necessary internal control to ensure that the financial statements are free ftom material misstatement, whether due to fi-aud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial 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 fi-om material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements, The procedures selected 3 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 entity's 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. Opinion In our opinion, the financial statements identified in the first paragraph present fairly, in all material respects, financial position of Green Energy for Low-Carbon City in Shanghai Project financed by the World Bank and granted by GEF as of December 31, 2017, its financial receipts and disbursements, the project implementation and the Statement of Designated Account for the year then ended in accordance with Chinese accounting standards and system, and the requirements of the project loan agreement. Other Matter We examined the grant withdrawal application No.6-No.7 and the loan withdrawal application No.6 of SPD Bank, with attached documents submitted to the World Bank during the period. In our opinion, those documents comply with the project agreement, and can serve as basis for withdrawal. 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. Shanghai Municipal Audit Bureau of the People's Republic of China June 22, 2018 4 Address: No. 300 Shibocun Road, Shanghai, P.R. 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О о о о �д О О О 4 О О 4 О Q О О О О д С7 r � _� О О б�г"� И И д Р О О О О О О О О .® � О О О c+l �Li т� о о С� б О О О О о и о о О[� [� N С7 д О О О О О О О 'г' G4 О 6 6 м д- �3 О О о0 00 О О О О О о �у Y1i tl Q оо N l� И И� N � N О О О м г3 � cJ � ,� U \� •� СС1 Н � '{� [г�1 .� �� � ° '� ш � '-` � � ° и � � сЭ� G � � bq '9 � Q Г' �` � =" � `� � 3 а � С3 t � � •-��.n •.� � ~� '� �о .[� � а ° 1 I � � � � � h %� � :�г� `" .� й� � � � .-}��� ��� �� ,± �' F-� г-+ � :� �`S �� ;� �j 1� � � �� -нд ,,[-／뎬 & } （五）财务报表附注 财务报表附注 1．项目概况 世界银行贷款和全球环境基金赠款上海绿色能源建设低碳城区项目 为国际复兴开发银行贷款（IBRD）和全球环境基金（．资）全融合项目。 项目总投资为25600万粎元（折合人民币161280万元），其中1000。万美 元为世界银行贷款（贷款号：82330一cN),434,5万美元为全球环境基金 赠款（赠款号：TF一14205一CN)，剩余15165,5万美元为两家转贷银行（上 海浦东发展银行和上海银行）各按1:1配套贷款共计10000万美元、次 级借款人（即佼用贷款的企业）配套4600万美元以及区政府赠款项目配 套565 .5万粎元（资金来源为镼宁区发展和改革委员会低碳发展专项资 金）。项目的核心区域为上海市镼宁区，旨在通过项目的实施，支持上海 市通过开展绿色能源建设，促进城市低碳发展。项目建设内容包括：通过 发展绿色建筑、鼓励绿色交通、改善能源结构（低碳能源供应）、完善体 制机制、制定激励政策、加大投入力度等措施，以降低碳排放量增长速度， 为上海市的低碳发展提供良好的示范和指导。项目贷款协议与赠款协议于 2013年6月14日正式签约，9月6日正式生效，计划关账日期为2018 年12月31日。 2．财务报表编制范围 本财务报表的簖制范围为世界银行贷款和全球环境基金赠款上海绿 色能源建设低碳城区项目的财务报表及专用账户报表。 3．主要会计政策 3.1本项目财务报表按照财政部《世界银行贷款项目会计核算办法》 （财际字〔2000〕13号）和《财政部国际司管理的赠款项目会计核算暂 行办法》（财际函〔2001〕195号）的要求编制。 3.2会计核算年度采用公历年制，即公历每年1月1日至12月31日。 1O 3,3本项目会计核算以“权责发生制”作为记账原则，采用借贷复式记 账法记账，以人民币为记账本位币。 3.4按照中国人民银行2017年12月31日汇率，即USDI二人民币 6 .5342元。 4．报表科目说明 4.1项目支出 2017年项目支出人民币63,101,83从59元，累计支出人民币 542,869,287.41元。其中赠款项目累计支出人民币85,471,249.98元，浦发 银行贷款项目累计支出人民币331,147,079.34元，上海银行贷款项目累计 支出人民币126,250,958,09元。 4.2货币资金 2017年12月31日货币资金余额为人民币3,267,230.88元，系市财政 局赠款专用账户中粎元存款余额500,020.03美元，折合人民币 3,267,230,88元。 4.3项目拨款 2017年12月31日余额为人民币100,251,357.06元，其中赠款项目配 套资金人民币72,509,393,64元，浦发银行贷款项目企业自有资金配套人 民币4,112,374.75元，上海银行贷款项目企业自有资金配套人民币 23,629,5 88,67元。 4.4世界银行贷款 2017年12月31日余额为人民币429,656,074.01元，其中世界银行先 征费25认。00粎元，折合人民币1,633,55000元，浦发银行世界银行贷款 49,924,69309粎元，折合人民币326,217,929.59元；上海银行世界银行贷 1l 款粎元15,580,269,11，折合人民币101,804,594.42元。 4,5赠款 2017年12月31日余额为人民币15,945,811,62元，系市财政局已收 到的全球环境基金赠款周转金和回补资金2,440,361.73美元，折合人民币 15,945,8 1 1 .62元。 4,6其他应付款项 2017年12月31日余额为人民币283,275.60元，系赠款项目中由上 海市镼宁区城市更新和低碳项目管理中心垫支的尚未获赠款回补的运营 费用人民币283,275.60元。 5，专用账户使用情况 本项目专用账户设在中国建设银行上海分行第五支行，账号为 31014505000220001726，币种为美元。2017年年初余额410,705.23美元， 本年度回补642,406.08粎元，本年度支付553,073.72美元，利息收入2.44 粎元，支付手续费20粎元，年末余额50仇020.03美元。 6．其他需要说明的事项 上海市镼宁区城市更新和低碳项目管理中心（原名上海市长宁区低碳 项目管理和发展中心，简称项目办）由长宁区政府成立，负责组织实施和 跟踪推进楼宇综合改造等城市更新工作，负责管理区低碳发展专项资金、 赠款、世界银行贷款等项目资金。本项目中，项目办主要负责赠款项目的 日常管理、执行、监管和评估，并监管贷款项目。上海浦东发展银行和上 海银行作为世界银行转贷商业银行，主要负责贷款项目的日常管理、执行、 监管和评估。项目资金中的全球环境基金赠款部分的财务管理由项目办负 责，世界银行贷款部分的财务管理具体工作由转贷商业银行负责，项目办 负责对银行提供的财务报表进行汇总及上报。 12 v. Notes to the Financial Statements Notes to the Financial Statements 1. Project overview Green Energy for Low-Carbon City in Shanghai financed by the World Bank and granted by GEF is a project with combined World Bank finance, including both World Bank loan in the amount of USD 100 million (loan No. 82330-CN) and GEF grant in the amount of USD 4.345 million (grant No. TF- 14205 -CN). The total investment of the prcj ect is USD 25 6 million ( equal to R M 1612.8 million yuan) , among which the counterpart funds are USD 151,65 5 million, including counterpart loan in the amount of USD 100 million fi-om Bank of Shanghai and SPD Bank, counterpart funds from borrower in the amount of USD 46 million, and counterpart funds from government in the amount of USD 5.655 million (Source of the funds was Low-Carbon Project Special Funds of Changning Districts Development and Reform Commission). It aims to support Shanghai Municipality's low-carbon city development by promoting green-energy schemes, with a focus on Changning Districts. The main project contents include developing green-energy building, encouraging green mobility, restructuring energy, improving system and mechanism, making motivation policy, enhancing investment, in order to achieve carbon intensity reduction targets. Overall, the project will provide replication potential of low-carbon development for Shanghai and its prefectures. The Agreements were signed on June 14, 2013 and came into effect on September 6, 2013. The account of the project will be closed on December 3 1, 2018. 2. Consolidation Scope of the Financial Statements Consolidation scope of the financial statements covers the financial statements and the statement of Designated Account of Green Energy for Low-Carbon City in Shanghai Project. 3. Accounting Policies 3.1 The Financial Stateinents of the project were prepared according to the requirements of Accounting Methods for the World Bank Financed Project (Caijizi[2000JNo.13 ) and Temporary Accounting Methods for the Grant Project Administrated by the Foreign Affair Department of Ministry of Finance (Caijihan[2001]No.195)- 13 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, 2017 of the People's Bank of China, which is USD 1= RMB 6.5342 yuan. 4. Explanation of Subjects 4.1 Total Project expenditures The project expenditure in 2017 was RMB 63,101,839.59 yuan, and the cumulative expenditures were RMB 542,869,287.41 yuan. Among which the investment of the project with GEF grant was RMB 85,471,249.98 yuan, the investment through SPD Bank was RMB 331,147,079.34 yuan, the investment through Bank of Shanghai was RMB 126,250,958.09 yuan. 4.2 Cash and Bank On December 31, 2017, the balance was RMB 3,267,230.88 yuan, which was the deposit in the Designated Account, equal to USD 500,020.03. 4.3 Project Appropriation Funds The balance on December 31, 2017 was RMB 100,251,357.06 yuan, including counterpart funds from government RMB 72,509,393.64 yuan, counterpart funds from SPD Bank RMB 4,112,374.75 yuan, counterpart funds from Bank of Shanghai RMB 23,629,588.67 yuan, 4.4 Bank Loan The balance on December 31, 2017 was RMB 429,656,074.01 yuan, including front-end fee of the World Bank loan USD 250,000, equal to RMB 1,633,550.00 yuan, and the World Bank loan to SPD bank USD 49,924,693.09, equal to R/M 326,217,929.59 yuan and to Bank of Shanghai USD 15,580,269.11, equal to RMB 101,804,594.42yuan. 4.5 Trust Funds The balance on December 31, 2017 was RMB 15,945,811.62 yuan, equal to USD 2,440,361.73, which was the total withdrawal from the World Bank by 14 SFB. 4.6 Other Payables The balance on December 31, 2017 was RMB 283,275.60 yuan, which was the operating cost of PMO RMB 283,275.60 yuan which has not been withdrawn from the World Bank. 5. Designated Account The Special Account of this project is set in No.5 Sub-branch, Shanghai Branch, China Construction Bank with the account number of 31014505000220001726, and USD as currency Unit. The beginning balance of 2017 was USD 410,705.23 and the reimbursement in the year was USD 642,406.08. This year the disbursement was USD 553,073.72, and the interest income was USD 2.44, commission fee was USD 20. Thus, the ending balance was USD 500,020.03. 6. Other Explanation for the Financial Statements Shanghai Changning Urban Renewal and Low-Carbon Project Management Center (former name: Changning Low-Carbon Projects Management Office, hereinafter referred to as PMO) was founded by the government of Changning District, playing a leading role in management of the Green Energy for Low-Carbon City in Shanghai Project. PMO is responsible for the routine management, execution, supervision, appraisal of the project granted by GEF, and also the supervision of the project financed by the World Bank. SPD Bank and Bank of Shanghai are the re-lending banks of the project, responsible for the routine management, execution, supervision, and appraisal of the project financed by the World Bank. The financial management of the GEF project is the duty of PMO, and that of the World Bank project is the duty of re-lending banks. PMO should combine all the financial statements and report them to the World Bank. 15