Heilongjiang Provincial Audit Office of the People's Republic of China Audit Report -W9*4K (2019) 008-W HEILONGJIANG AUDIT REPORT (2019) NO.008 Project Name: Large-City Congestion and Carbon Reduction Project (Harbin) Granted by GEF TF014206-CN Grants NO.: TF014206-CN H t - t:4- Tfc :q, ,1l, (GEF) 91 Aq 4k A &* A 4$P 0A#Y Project Entity: Large-City Congestion and Carbon Reduction Project Office (Harbin) 4- 4,-: 2018 Accounting Year: 2018 目录 ContentS 一、审计师意见.....................................................................……,.……,.,.,.1 1 .Auditor&5 Opinion..............……,,.…,.…,...……,......……,........................……3 二、财务报表及财务报表附注…,二,.,,…,,.,…,,,.,…,.....................……,..……5 11,Financial Statelnellts and No协5 to the Financial Statemeflts二,,,,二,二,.…5 (一)资金平衡表................……,,..........................……,……,二,…,.,.,.,二5 1 .Balance Sheet...……,.……,........……,..............................................……5 (二)项目进度表.............................……,.……,……,......................……8 11.Summary of Sources and Uses ofFunds by Project Component..…8 (三)赠款协定执行情况表..…,............................................……,.,二10 111 .Statement of Implementation of Gra爪Agreement,..……,..…,...……10 (四)专用账户报表..................................................……,,,,二,,,.,..…,n iv. Special Account Statement,...........................……,....................……n (五)财务报表附注,..........................……,.................................……13 v.Notes to the Financial Statements.............................................……15 三、审计发现的问题及建议...........................……,.…,................……,.,…17 111.Audit Findings and Recommendations....……,,二,.,,,二,二,,,.,,…,,..…,……18 一、审计师意见 审计师意见 全球环境基金(GEF)簓解大城市拥堵减少碳排放项目(哈尔滨)领导小 组项目管理办公室: 我们审计了全球环境基金赠款中国缓解大城市拥堵和减少碳排放项 目2018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 款协定执行情况表及专用账户报表等特定目的财务报表及财务报表附注 (第5页至第16页)。 (一)项目执行单位及黑龙江省财政厅对财务报表的责任 簖制上述财务报表中的资金平衡表、项目进度表及赠款协定执行情况 表是你办的责任,簖制专用账户报表是黑龙江省财政厅的责任。这种责任 包括: 1.按照中国的会计准则、会计制度和本项目赠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 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 1 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 提供了基础。 (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、会计制度和本项目赠款协定的要求编制,公允反映了全球环境基金赠 款簓解大城市拥堵和减少碳排放项目2018年12月31日的财务状况及截 至该日同年度的财务收支和项目执行情况。 (四)其他事项 我们还审查了本期内报送给世界银行的第HLJOO3、HLJOO4及HLJoo6 至HLJ013号提款申请书及所附资料。我们认为,这些资料均符合贷款协 议的要求,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坯育两项内容:财务报表及 财务报表附注和审计发现的问题及建议。_ 中华人民共和目只一‘:应百审计厅 〕)玲年6月25日 地址:中国黑龙江省哈尔滨市南岗区东大直街106号 邮政簖码:150001 电话:86一451一82511649 传真:86一451一82528451 2 I. Auditor's Opinion Auditor's Opinion To Large-City Congestion and Carbon Reduction Project Office (Harbin), We have audited the special purpose financial statements (from page 5 to page 16) of Large-City Congestion and Carbon Reduction Project Granted by GEF, which comprise the Balance Sheet as of December 31, 2018, the Summary of Sources and Uses of Funds 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 Heilongjiang Provincial Finance Department's Responsibility for the Financial Statements The pre-paration 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 Heilongjiang Provincial Finance Department, which includes: i. Preparing and fair presenting the accompanying financial 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 financial statements are free from material misstatement, whether due to fraud 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 from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial 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 3 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 Large-City Congestion and Carbon Reduction Project Granted by GEF as of December 31, 2018, its financial receipts and disbursements and the project implementation for the year then ended in accordance with Chinese accounting standards and system, and the requirements of the project grant agreement. Other Matter We also examined the withdrawal application No.HLJ003,HLJ004, HLJO06 to HLJO13 and the attached documents submitted to the World Bank during the period. In our opinion, those documents comply with the project grant agreement and can serve as basis for grant withdrawal. The audit report consists of the Auditor's Opinion and two more parts hereinafter: Fina.cial Statements and Notes to the Financial Statements, Audit Findings and Recornmendations. Heilongjiagi ProvinclalAudit Office of the People's Republic of China Juie 25, 2019 1 Address: No. 106 East Dazhi Street, Nangang District, Harbin, Heilongjiang Province, P.R. China Postcode: 150001 Tel.: 86-451-82511649 Fax: 86-451-82528451 The English translation is for the convenience of report users; Please take the Chinese audit report as the only official version. 4 II. Financial Statements and Notes to the Financial Statements i. Balance Sheet BALANCE SHEET 2018 * 12 A 31 H (As of December 31, 2018) Project Name:Large-City Congestion and Carbon Reduction Project (Harbin) Granted by GEF A - :t:I& -5F ,41 ( GEF ) 9W-k* A_ 115 *½;k4JAN P ( 4 tI ) t /II9fIIAi 04 1 LI Prepared by: Large-City Congestion and Carbon Reduction Project Office (Harbin) Currency Unit: RMB Yuan Line Line Application of Fund Beginning Balance Ending Balance Sources of Fund Beginning Balance Ending Balance No. No, l 188,917,486.49 203,752,01155 Total Project 28 3,560,52183 19,812,714,14 Total Project Expenditures Appropriation Funds 2 165,260,000.00 165,260,000.00 Project Capital and Capital 29 186,064,956.09 186,064,956.09 Fixed Assets Transferred Surplus 2. 01~L Construction Expenditures 3 - - 30 Including: Grants to be Disposed 3. &WIk -= 4 - - 31 Investments Transferred-out Total Project Loan 4. Aoi1. 5 23,657,486.49 38,492,017.55 Total Project 32 Construction in Progress Investment Loan (1) MM&Ilk 6 - - 33 Investment Loan Receivable Foreign Loan Including: World Bank 7 - - 34 Including: IDA Investment Loan Receivable Appropriation of Investment 8 - - 35 Loan IBRD 5 Line Line Application of Fund Beginning Balance Ending Balance Sources of Fund Beginning Balance Ending Balance No. No. 49.MNthfrATVRat fM Including :Appropriation of 9 - - Technical 36 - World Bank Investment Loan Cooperation 10 - - 37 - Equipment Co- Financing Including: Equipment Losses 11 - - 38 - Domestic Loan in Suspense T' Eyl%*Wt 2.Agen 12 840,263.74 2,314,966.85 39 - Total Cash and Bank Other Loan 1. bRiff 3.-R AR 13 840,263,74 2,314,933.52 Appropriation of 40 - Cash in Bank Investment Loan 14 114,370.16 763,907.61 Including: World Bank 41 - Including: Special Account Loan 2. WALA7A M 15 33.33 33,33 42 - Cash on Hand Bond Fund 16 125,000.00 125,000.00 Construction Expenditures 43 - Total Prepaid and Receivable to be Offset Including: World Bank Loan 17 - - 44 150,997.35 153,439.10 Total Payable Interest Receivable World Bank Loan 18 - - Including: World Bank 45 - Commitment Fee Loan Interest Payable Receivable World Bank Loan Service- 19 - - World Bank Loan 46 - Fee Receivable Commitment Fee Payable 20 - - 47 - Marketable Securities World Bank Loan Service Fee Payable Al BINWF it &A R i 21 44,0g5.00 44,085.00 48 - Total Fixed Assets Other Payables 6 Line Line Application of Fund Beginning Balance Ending Balance Sources of Fund Beginning Balance Ending Balance No. No. 22 44,085.00 44,085.00 49 Fixed Assets, Cost Appropriation of Fund Less: Accumulated 23 - - 50 150,359.96 204,960.07 Depreciation Retained Earnings 24 44,085.00 44,085.00 Fixed Assets, Net 25 - - Fixed Assets Pending Disposal 26 - - Fixed Assets Losses in Suspense 27 189,926,835.23 206,236,069.40 51 189,926,835.23 206,236,069,40 Total Application of Fund Total Sources of Fund 7 (zR AA ii. Summary of Sources and Uses of Funds by Project Component SUMMARY OF SOURCES AND USES OF FUNDS BY PROJECT COMPONENT I t JA# _ 2018 4 12 A 31 H (For the period ended December 31, 2018) Project Name: Large-City Congestion and Carbon Reduction Project (Harbin) Granted by GEF AtAR Ik: 3* 3T ( GEE ) A X.7 4*AAP x t5 -JF ( X t) 9R:AffR VA "4 I Prepared by: Large-City Congestion and Carbon Reduction Project Office (Harbin) ft W -R: A. K 7r Currency Unit: RMB Yuan Current Period Cumulative Project Component 33 |P,i--i Current Period Current Period Current Period Cumulative Cuulative % Budget Actual % Completed Life of PAD Actual Completed Total Sources of Funds 15,268,672.00 16,252,192.31 106.44% 194,367,02300 205,877,670.23 105.92% International Financing 14,768,672.00 15,969,170,31 108.13% 20,589,000.00 18,365,44919 89.20% 1, IBRD 2.IDA 3.ftffiMa The World Bank Grants 14,768,672.00 15,969,170.31 108.13% 20,589,000.00 18,365,449.19 89.20% PIT0f 9 Counterpart Financing 500,000.00 283,022,00 56.60% 173,778,023.00 187,512,221.04 107.90% 1. $M IA1 t : The Municipal Fiscal Funds 500,000.00 283,022.00 56.60% 173,778,023.00 187,512,221.04 107.90% 81&%}lI*#L± Total Application 15,268,672,00 14,834,531.06 97.16% 193,337,573.00 203,796,102.55 105.41% ofFunds 1.1 i fjiJ8f Public Traffic Lanes Transformation 3,918,773.00 20,804,956.09 530.90% 2. If8.300 18%$ The Purcha of 300 Buses 163,339,400.00 165,260,000.00 101.18% 3AIiRS-90 Project 500,000.00 407,842.27 81.57% 5,490,400,00 1,556,298.57 28.35% Management Fees 4. 1I0t&t(418A4 Carbon 147,000.00 147,000.00 100.00% 1,029,450.00 419,000,00 40.70% Emissions Data Collection 5. ilfMSM I8 The World Bank Grants Support Project 14,621,672.00 14,279,688.79 97.66% 19,559,550.00 15,755,847.89 80.55% 9A Difference - 1,417,66L25 - - 1. 26(X&{ Change in Receivables Change in Payables - -2,441.75 - - - Change in Cash and Bank - 1,474,703.11 4. A8 Other - -54,600.11 - - - 8 � � , , , , , � � а �7 � � у v ,П %" ч� � � 1�' � Э3 � � it�.i '� ..��. � � � Н А � д о F.ry�� �.� 'О � i � � i i '�Г_ 5",r QI U � й �i�' � � а � � о � А � � V н д � ЭЭ W о о °о й �'д 'ги+ '^ о � t' � о �+ п_ о n о � � � N � о rn "�f . �i а q � r`� ^� г�ч � � м � 3 �i � сл , � �а .�цf( � � b �� �2� r--i пп w � ® � � � к ?� д � � �� _� � � � 8 � �I� � �цS � � '� � Э� _ w � � �а" n � о ц-.� 11� � Lтн N ` "� " � '-� � � М м � wS -r. � �� � � � � v � i л � � Е � � � ¢ � � � .а р ц�, tt] � � � с, � � �� ¢ "� W ®гl � д � i� � °о о° °о б� W� ы � i � ,� °.�' о о о � у v �т-� � � � � -�, � 'sa � х Й1 � `"• � м � � � L � " U � �ц й й W �'� '�z,a�.]�`�'w � ® � � �, ., й��О U ® � ?� У �� Гт . � ,��, � � ^ . � о °о °о °о й !�®[ �1 [� � �,` �д� (]..г �7 .? й о � °о � .°. r� � � _О i$`' � � `� � о °и г�v � о а . 1д��'' ��q �дуΡ� U � р � � $ `° гv .б v � FЧ !�1 F�.' 'С ;� � � U � � ^ � � ,.�„ � ���� � � � ��х -ч1 ^� �� О � �v� � � -�b�� и � � `� с�д � '�у й и ёд � � q� � � � д �� � � о °о w о � Ь�А W й О ет�-, � � � '� � i'� р�� � `� а� �1 W с.�м.� � V О ,�� � � � сб +� ��� U g о й v �� � Ец CII V � nд �` U �� о �� � на�д � U .� хЭ5 а � N �'+и{ � � � �1 � с� �'� � а. R. -1гС й �' .. �' ,� � � �i- � � U 1k+I � �ц ' ' � � Z � � .� � � � � ,о � '� т �}- � � .`� .�iI [�i � � ;г fi�i °� L :� :о а�г�w`� и� а' ,� �i� �� Д' .� w гмг м rr с� ��и' с �� � � Ср � � � '� д �� ,�F, � ° °о с�о й � а, а � v �Н r� о г� � v Fп�I' г�i �л � r� � �� � м lSa К? Й n O�i � � � � � ct' q � � � � д� � � � �.' � � 3 г�� � _� W '�гП � � , � м ш и � W �� � N � � :_: � `� V I�i А v й � N � � �к ] � � �. N й � ��n �I �,{ � о о о w f-` �s и n �j W ,.,,� тr [� � � " W о М tY Е�ИJ v / ai 4 Oi г}'•��'\-� �, � 4Е о гоv v � .f� р}�. � � м N и � � ro� � � :✓ "�,.. � �п � � g c°� �.. � '� � � 3 � " 31� .i� �° м с*'г � � сцб � ..°г..+- � � ^ ��х & 3 � ��с.����¢ � � b \ ® � у ^�' сб v U '�ц� •°� � й т � {Ч �' н И 7 ,_.э Н.� ��nx_�о � � � а '�Tr �}д Q �' U � "_' С °^ м г� � 'Ч Со .0 N U jIII •^ у U � c�i �, о � � ° -� .а �К � � � � � � �€К ] �� w � � а � � 'д � О � G � ,.,�, � с1� --Ё � �r� � р, � � � � ir У+Ч ���� Р�-г �'� � о о о � �'� � �,,� �" _ о о о � М�М FO y.jY' � � р � ° °о °о оо � �iiI � `i � � � '� ,�ю" � 1К А °о °о о 'ве �� � �' .ty � С� Йх � Э1�К �.7 N ° м S� ® � � � С � � tи ' л г-� О � � � �� Z `w иа �, �"'' w � U � ���о .j}�, � � � �' '� �, , � � w °" ro � '� � "*�' bД � aJ °с6 � о о F� � а� � k� � 1� � � � � ¢ � �� а+ � '� �-7 � � � � � аг � � �.5 �' � � �Ч � � л �ЕК � � � ' п а. �"� � .s� .� о � � � и о ,�z� � � " � � � � +"` о Z _ . � � '�' �р � � � "�" � � � '.� Я �• о� ш Н:� � -Ец> � � �'{ а�� N т V � vi �-'С С� � r1 � }1� rd1 �. ..r .�, ..� M _f)fl*P4K* iv. Special Account Statement SPECLAL ACCOUNT STATEMENT *Mft 201& -12) 31 H (For the Period Ended December 31, 2018) ffP MMIVOK_y. 20031420006000064 Name of Project: Large-City Congestion and Carbon Reduction Project(Harbin) Depository Bank/Account No.:20031420006000064 TF014206-CN R if f _, X: A'R World Bank Grant No:TF0 14206-CN Currency:USD A :&S)R Part A - AccountActivity forthe Period Amount Aq VJ 11 1 9 17,503.85 Beginning balance (01/01/2018) WH Add: *Mtft_TrWff M 10ffi 1,359,803.06 Total amount deposited by World Bank *Wd 10MA10 MMMAI Jfl 00 S3 ) 7,959.2 Total interest earned this period if deposited in Special Account * M T - 4:t 4 jV_ ff" 9-:1 ill 10- M Total amount refunded to cover ineligible expenditures MJI Deduct: *MV4-ItIft 1,273,077.5 Total amount withdrawn * M 7 t MA E 4-TIM PP 0 Total sel vice charges if not included in above amount withdrawn R 112,188.61 Ending balance (12/31/2018) Part B -Account Reconciliation ankff -m 4akta), 299,996 Amount advanced by World Bank AJ,I Deduct: 2. Total amount recovered by World Bank 3. * ,O Y * 4 ffl K P -6 & T T * M Outstanding amount advanced to the Special Account at month/dayly= I I 4. I 1fl$#### 112,188.61 Ending balance of Special Account at 12/31/2018 Il Add: 5. ~L t~ E+i {fi* E ti Amount claimed but not yet credited at month/day/year Application No. Amount 6. 0-4 tAU4O B cjAJE Y*Rt Amount withdrawn but not yet claimed 7. &MM, R B(C5if5 6f=YP) Cumulative service charges (if not included in item 5. or 6.) ## Deduct: 8. $i,VA(WAXtIPKl R I½) 7,959.2 Interest earned (if included in Special Account) 9. tffJ tf Total advance to Special Account accounted for at month/day/year 12 (五)财务报表附注 财务报表附注 1.项目简介 全球环境基金赠款簓解大城市拥堵减少碳排放项目(以下简称“项 目”)赠款协议及项目协议于2013年6月28日正式签署,并于同年9月 2日生效。本项目旨在通过该项目帮助我国建立相关政策框架,通过发展 公共交通和加强交通需求管理,簓解大城市的交通拥堵,减少温室气体排 放,并通过在项目试点城市(哈尔滨)执行上述政策框架,展示其对当地 和世界产生的积极影响。 项目总投资额2832万粎元,其中地方配套2532万美元,全球环境基 金赠款300万美元。 项目主要内容包含四个部分:(1)建设和改善公共交通工程;(2) 交通需求管理;(3)项目检测与评价;(4)项目管理及能力培养。 2.主要会计政策 2.1会计制度 本项目执行《黑龙江省实施全球环境基金赠款“缓解大城市交通拥堵, 减少碳排放项目”会计核算办法》(黑财际金(20巧〕8号)。 2.2会计年度 本项目会计年度自公历1月1日起至12月31日止。 2.3记账本位币 本项目以人民币为记账本位币。 2.4记账原则和计价基础 本项目以“权责发生制”为记账原则,以“历史成本”为计价基础。 2.5外币业务的核算方法 外币业务采用外币分账制进行核算。 3.报表科目说明 3.1项目支出 13 期初余额人民币188,917,486.49元,截止2018年末,项目累计支出 人民币203,752,017.55元,其中交付使用资产人民币165,260,000元, 在建工程人民币38,492,017.55元。本期发生人民币14,834,531.06元, 其中:项目管理费人民币407,842.27元,碳排放数据采集人民币 147,000.00元,咨询服务人民币14,279,688.79元。 3.2货币资金合计 期初余额人民币840,2 63.74元,期末余额人民币2,314,966.85元。 3.3项目拨款 期初余额人民币3,560,521.83元,期末余额人民币19,812,714.14 元。 3,4项目资本与项目资本公积 2018年期末余额人民币186,064,956.09元,为2014年购置300台公 交车及公交专用道改造形成的配套。 3.5应付款 2018年,期初余额人民币150,997.35元,期末余额人民币153,439,10 元。本年发生额为交通运输局信息中心借款用于垫付碳排放数据采集费用 产生的利息。 3.6留成收入 本期留成收入期初余额人民币150,359.%元,期末余额人民币 204,%0.0了元,为专用账户利息收入。 4.专用账户 2014年2月2了日,省财厅在龙江银行股份有限公司营业部开立项目 专户,户名为黑龙江省政府利用世界银行贷款办公室,账号为 2003 1420006000064。本年专用账户发生额不含世界银行账户直接支付金 额。 l4 v. Notes to the Financial Statements Notes to the Financial Statements 1. Project Introduction The giant agreement and the project agreement of Large-City Congestion and Carbon Reduction Project Granted by GEF (hereinafter referred to as the CCprcjecf') were fon-nally signed on June 28, 2013, and came into effect on September 2nd of the same year. This project aims to help China to build relevant policy framework through the project, ease city traffic congestion and reduce greenhouse gas emissions through developing public transport and managing traffic demand. And through the implementation of the above policy framework in the project pilot city (Harbin), its positive effects on the local and the world are to be shown. Total investment of the project is USD 28.32 million, including local counterpart fund with the amount of USD 25.32 million and GEF grant with the amount of USD 3 million. The main contents of the project consist of four parts: (1) the construction and improvement of public traffic engineering; (2) the traffic demand management; (3) detection and evaluation of project; (4) training project management and capacity. 2. Main Accounting Policies 2.1 Accounting system The Financial Statements of the Project were prepared according to the requirements of the Accounting Methods for the GEF Granted Heilongiiang Large-City Congestion and Carbon Reduction Project ( Heilongjiang Interriational Finance[2015]No.8) 2.2 Accounting year In accounting practice, the Gregorian calendar year is adopted as the fiscal year froin January I to December 3 1. 2.3 Standard currency RMB is the standard currency used in accounting records. 2.4 Accounting principles and costing basis The accounting principles is "accrual basis" and the costing basis is "the historical cost' '. 2.5 Accounting methods for foreign currency business Foreign currency business was accounted through separate foreign currency accounting system. 15 3. Explanation of Subjects 3.1 Project Expenditure The beginning balance was RMB 188,917,486.49 yuan. As of the end of 2018, the ending balance of project expenditure was RMB 203,752,017.55 yuan, including fixed assets transferred with the amount of RMB 165,260,000 yuan and construction in progress with the amount of RMB 38,492,017.55 yuan. The expenditures occurred during the year was RMB14,834,531.06yuan, including RMB 407,842.27 yuan for the project management, RMB 147,000.00 yuan for carbon emissions data collection and RMB14,279,688.79 yuan for consulting service. 3.2 Total Cash and Bank The beginning balance was RMB 840,263.74 yuan. The ending balance was RMB 2,314,966.85yuan. 3.3 Project appropriation funds The beginning balance of project appropriation funds was RMB 3,560,521.83 yuan and the ending balance was RIMB 19,812,714.14 yuan. 3.4 Project capital and capital surplus The ending balance of Project capital and capital surplus was RMB 186,064,956.09 yuan in 2018, which was the procurement of 300 buses and the public traffic lanes transformation as the counterpart funds in 2014. 3.5 Accounts payable In 2018, the beginning balance of accounts payable was RMB 150,997.35 yuan and the ending balance was RMB 153,439.10 yuan, which was the advance payment for carbon emissions data collection paid by the information center of Harbin Municipal Transportation Bureau. 3.6 Retained Earnings The beginning balance of retained earnings was RMB 150,359.96 yuan, and the ending balance was RMB 204,960.07 yuan, which was the interest revenue of the special account. 4. Specified account The Finance Department of Heilongjiang Province set the special account with the Business Department of Longjiang Bank Co. Ltd. on February 27, 2014. The account name is the World Bank Loan Office of Heilongjiang Provincial Government and the account number is 20031420006000064. In 2018, the revenue and expenditure of the special account did not cover the direct payment by the World Bank. 16