Shanxi Provincial Audit Office of the People's Republic of China Audit Report $ # RC 2018 ] 19 %9 SHANXI AUDIT REPORT C 2018 ] NO. 19 Project Name: Shanxi Gas Utilization Project Financed by the World Bank A t: 8348-CN Loan No.: 8348-CN Project Entity: Project Management Office of Shanxi Guoxin Energy Development Group Co. Ltd. 2017 Accounting Year: 2017 目录 ColltelltS 一、审计师意见．....．……，......................................................................．……1 1 .Auditor&5 Opinion..............................................................................．……3 二、财务报表及财务报表附注．.........................................................．……6 11 .Financial Statements and Notes to the Financial Statements．…，....．……6 （一）资金平衡表．........................................................................．……6 1 .Balance Sheet...............................................................................．……6 （二）项目进度表．........................................................................．……8 11.Summary of Sources and Uses ofFunds by Project Component.．…8 （三）贷款协定执行情况表．......．……，..．……，.......．……，..............．……10 111.Statement oflmplementation ofLoanAgreement．……，二，.......．……10 （四）专用账户报表．…， ..............................................................．……n iv.Speeial Account statement.......................................................．……n （五）财务报表附注．..................................................................．……13 v,Notes to the Financial StatementS.............................................．……16 三、审计发现的问题及建议．...................................................．……，二，.．…19 Hl.Audit Findings and Recommendations...................................．··．..．……23 一、审计师意见 审计师意见 山襼省国新能源发展集团有限公司世行项目办公室： 我们审计了世界银行贷款山襼煤层气综合利用项目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、贷款协定执行情况表和 专用账户报表等特定目的财务报表及财务报表附注（第6页至第18页）。 （一）项目执行单位及山襼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、项目进度表及贷款协定执行情况 表是你办的责任，簖制专用账户报表是山西省财政厅的责任，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、 会计制度和本项目贷、赠款协定的要求编制，公允反映了世界银行贷款山 襼煤层气综合利用项目2017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 我们抽查了本期内由省财政厅报送给世界银行提款申请书GXO19至 Gxo们及所附资料。我们认为，这些资料基本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。 中华人民共和国山西省审计厅 ZD 17年6月29均 地址：中国山襼省太原市万柏林区滨河西路南段1加号B座 邮政簖码：030024 电话：86一0351一3806182 传真：86一0351一3806182 2 1. Auditor's Opinion Auditor's Opinion To: Project Management Office of Shanxi Guoxin Energy Development Group Co., Ltd., We have audited the special purpose financial statements (from page 3 to page 19) of Shanxi Gas Utilization Project financed by the World Bank, which comprise the Balance Sheet as of December 31, 2017, the Summary of Sources and Uses of Funds by Project Component, the Statement of Implementation of Loan 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 Loan 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 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 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. 3 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 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. Auditor's Opinion In our opinion, the financial statements mentioned in para. I have been prepared in accordance with Chinese accounting standards and system, and the requirements of the projcct loan agreement. These financial statements have fairly reflected the financial status as of December 31, 2016 of the Project, as well as the financial receipt and expenditure, project execution and the revenue and expenditure of the special account. Other Matter We have randomly inspected the withdrawal applications, as well as the supporting documents submitted by Shanxi Provincial Finance Department to the World Bank. In our opinion, the above-mentioned documents conform to the requirements of the Loan Agreement, and could be used as the basis of the loan 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. Shanxi Provincial Audit Office of the People's Republic of China June 29, 2018 4 Address: Building B, 129, Western Binhe Road, Wanbailin District, Taiyuan City, Shanxi Province, P.R. China Postcode: 030024 Tel.: 86-351-3806182 Fax: 86-351-3806182 The English translation is for the convenience of report users; please take the Chinese audit report as the only official version. 5 II. Financial Statements and Notes to the Financial Statements ( -) *4 A i. Balance Sheet -k -* (BALANCE SHEET) 2017 4- 12 7 31 El (As of December 31, 2017) gi E t ft: &-4 ,4'i& g!444( i fA 1 ( Statement I Project Name: Shanxi Gas Utilization Project Financed by the World Bank Prepared by: Shanxi Guoxin Energy Development Group Co., Ltd. Project Office Currency Unit: RMB Yuan 2ry nu f fli1 ik fnv4A* Application of Fund Line No- Beginning Balance Ending Balance ii killu'rit Total Project Expenditures 1 150,917,805.83 833,220,460.47 1. M(2fJ PFixed Assets Transferred 2 5, 395. 94 1, 702. 56 2, Vtf;ii24 f 3ikil Construction Expenditures to be Disposed 3 3, 40 I 8N0 Investments Transferred-out 4 ,I, IE4fT17 Construction in Progress 5 150,912,409.89 833,218,757.91 7. , Investment Loan Receivable 6 P 1 1Including: World Bank Investment Loan Receivable 7 fl M 4i N Appropriation of Investment Loan 8 ~4 I0715 2Including: Appropriation ofWorld Bank Investment Loan 9 Pq, aM Equipment 10 49, 572. 65 A+: 11 #t9 Including: Equipment Loss in Suspense 11 r, Ab r it Total Cash and Bank 12 36,640,029.68 107, 016, 746. 14 1, 4T4it7r Cashin Bank 13 36,639,426.28 107, 016, 480. 14 Alt , ffikP Including: Special Account 14 27, 998, 060. 74 2, 380, 882. 20 2, 1, Cash on Hand 15 603.40 266.00 2. "' &l it Total Prepaid and Receivable 16 76,718, 691.22 68, 577, 249. 14 ft A KPi:4 lIJ Including: World Bank Loan Interest Receivable 17 0t( 34#'ci$ti World Bank Loan Commitment Fee Receivable 18 1043 & it 34 , r& Tl, World Bank Loan Service-Fee Receivable 19 -L, I 4WA4 20 A1. f # Marketable Securities 21 tibi FOR4~% Total Fixed Assets 22 1, 380, 904. 49 3,606, 266.08 34l4 8l 3FI Original Cust of Fixed Assets 23 1, 596, 189. 19 3,978, 447. 46 1i4: WifFiIH Less: Accumulated Depreciation 24 215, 284. 70 372, 181. 38 rtl 34E234 Net Value of Fixed Assets 25 1, 380, 904. 49 3, 606, 266. 08 PilZ P . Fixed Assets Pending Disposal 26 [4 ]3 P ~ Fixed Assets Losses in Suspense 27 3iff]Ol10I- Total Application of Fund 28 265, 657, 431. 22 1,012,470, 294. 49 6 资金平衡表（BALANCE SHEET) 2 0 17年12月31日（As ofDecember 31,ZO17) 项目名称：世界银行贷款山襼煤层气综合利用项目表1续（Statement工continued) 多 7 � � � � � о � � � � � ° � � �� -о г� �; �i _.; � о� � а� � .� со г., г.� �� � ,� ��'� � с � �; ^ � с3� � � � � �` ~ 0.1 о о о сс ti о �- � х .� � о о ti о ti о г- ~ � � ? �� � а� ti N о о c�i � � о с � у С �" L` !Ч с' С ci' QJ �� .=s ;х Q О М ^'J с0 б� t� О �- � j С., Ср" х С� с' N С N .г.�С � � о " V] i-�- � "�� П •� О N N l� б� СО О х W � � � �� с.р �n ц7 О б� О О О г-� � �1 '-' � i �У' l� 6� О'> СО � сП G� t` 1�-1 г`-• О [� t� N С �у ���' = О М М СО сО �О О � �4�; t� _: ° � а U с о о о с о о о о с с с о о о о о о о с � о о о � о о � о о � О � I� �� (] с о о � � � N � F� ;�Z � ti о о ti �r ,'^�� � С� 4. � °о оо a�i � s� cfl � 1 �? ° � о_ о " �.v гп а� � \ ` w_ о -- � о х х `в/ ._� в� х СО С9 х ^'> .М W -i� ,� Г, .� h �И- � а а N � � � х с0 х м о гл а t� ,� -�у с -� гг м м ri _ _, ш х п ti ti с� � �� а�� �п� �� � ^ L. �;, м � о о � v� � �; ° ан /�1 � �1 � о � �/ j•�•� � � Ш V '` �� р ° 'О О С� l� О О СМ О � б`-� N х � IL�J � t' . . . . . 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Special Account Statement - VAWP #* (SPECIALACCOUNT STATEMENT) *V A J 2017 - - 12 31 9 (For the period ended December 31, 2017) ;k 4 ( Statement R 3j P t 4: 1 T 1 , -Ii Ji ,g 4 i, 11 jf JTJ H 9 : 8348-CN ( Loan No: 8348-CN Project Name:Shanxi Gas Utilization Project Financed by the World Bank 4 Prepared by: The Finance Department of Shanxi Province Depository Bank: CCB shanxi Branch 14014410100220503113 (Account No : 14014410100220503113)" FP :AT7, Currency:USD A PART A-ACCOtJNT ACTfVITY FOR THE PERIOD Amount Beginning Balance 4,038,562.36 Add MhH): Total amount deposited by World Bank 8,547,931.76 2,332.99 Total interest earned this period if deposited in Special Account * M T11-3m 5ULPI IJ-:] V Total amount refunded to cover ineligible expenditures Deduct (A. >) : Total amount withdrawn 12,219,606.74 J f 14 W)Q rl fl K Y1- , -k ffi 30.00 Total service charges if not included in above amount withdrawn M A 0 Ending balance (month/day/year) 369,190.37 B IW : PART B-ACCOUNT RECOWILIATION Amount advanced by World Bank 500,000.00 Deduct %L,): 2, *WWjH&,E,V Total amount recovered by World Bank 31 364,372.41 Present outstanding amount advanced to the Special Account at month/day/year 4, Ending balance of Special Account at month/day/year 369,190.37 Add ( MH- 5KKI* -R Amount claimed and not yet credited at montli/day/year 6, Amount withdrawn and not yet claimed 70.00 Service charges for the period (if not included in item 5. or 6.) Deduct 091 1,) : 8, (ry-A M)n Kp M ) 4,887.96 Interest earnings for the period (if included in Special Account) 9, *W-WH&PfVMTXR Total advance to Special Account accounted for at montlVday/year 364,372.41 12 （五）财务报表附注 财务报表附注 1．项目概要。 山襼煤层气综合利用项目是由山襼省国新能源发展集团有限公司（以 下简称：国新能源）申请、利用世行贷款实施的煤层气综合利用项目。项 目主要建设内容为：新建两个煤层气热电联产项目和五个天然气城市管网 项目，共包括七个子项目。其中两个煤层气热电联产项目分别在忻州市保 德县、晋中市昔阳县各新建一套120MW级煤层气联合循环二拖一供热机组， 供暖热负荷为47.SMW。五个天然气城市管网项目分别为长治县天然气利用 工程、襄垣县天然气利用工程、屯留县天然气利用工程、阳城县天然气利 用工程、清徐县天然气利用工程。项目的实施可以加快我省经济结构调整， 促进能源运输、供应和消费等方面的深刻变革。同时，可以进一步改善生 态环境，减少项目区、县的温室气体排放，提升能源利用效率，改变能源 消费结构，推动全省“四气”产业发展。 项目实施主体分别为国新能源所属的山西天然气有限公司、山西煤层 气（天然气）集输有限公司、清徐县凯通天然气有限公司。其中，山西天 然气有限公司负责保德、昔阳两个煤层气热电联产项目；山西煤层气（天 然气）集输有限公司负责镼治、屯留、襄垣、阳城县天然气利用工程项目； 清徐县凯通天然气有限公司负责清徐县天然气利用工程项目。 201井年1月，《国家发展改革委关于世行贷款山西煤层气综合利用项 目资金申请报告的批复》（发改外资〔2014〕13号），项目总投资18．此 亿元人民币。利用世行贷款1亿粎元（折合6.1亿元人民币），国新能源作为 世行贷款的债务主体。9700万粎元用于项目建设（其中：土建工程451万 粎元，设备及材料采购9249万粎元）,275万美元用于技术援助（咨询服务 与培训等）,25万粎元为先征费。项目建设期5年。2沮4年5月，世界银行 与我国政府签订项目《贷款协议》，贷款总额为1亿美元，含25万美元先 征费。项目生效日为贷款协定签订之日90天，项目贷款账户关闭日为2020 年6月30日。 13 … 2．财务报表编制范围。 本次报表簖制范围包括山襼国新能源发展集团有限公司世行项目办； 山襼天然气有限公司保德、昔阳热电子公司；山西煤层气集输（天然气） 有限公司屯留、镼治分公司及其襄垣、中昊盛子公司；清徐凯通天然气有 限公司负责的各项目财务报表及省财政厅专用账户报表。 3．主要会计政策。 3.1按照财政邵颁布的《企业会计准则一一基本准则》和各项具体会 计准则、企业会计准则应用指南、企业会计准则解释及其他相关规定对相 关业务进行确认、计量、核算。在此基础上按照财政部下发的《世界银行 贷款项目会计核算办法》、省财政厅下发的《世界银行贷款山西煤层气综 合利用项目财务管理、会计核算和提款报账暂行办法》的规定和要求对财 务报表进行分析填列。 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。 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。 4．项目执行情况说明。 4.1贷款协定执行情况。截至2 017年12月31日，累计利用世行贷款 资金58083368.60粎元，其中：提款报账回补18141519.02美元、特别承诺 支付35020370.46粎元、直接支付4671479.12美元、先征费250000美元。 4.2专用账尸佼用情况。本项目专用账尸设在建设银行山西省分行， 账号为1401 44 1 0 1 00220503 1 13，币种为美元。本年度回补854793 1 .76美 元，利息、收入2332.99粎元，本年度支付12219606.74美元，支付服务费 30粎元，年末余额369190.37美元。 4.3项目投资情况 截至2叭7年此月31日，项目累计完成投资836826726.55元，其中 14 货物204440891.3元，工程类275276806.97元，其他（主要指待摊费用 支出）350997069.94元，技术援助4478408.34元，先征费1633550元。 5．报表科目注释。 5.1“在建工程”期末余额为833218757.91元。本科目核算各项目单 位在建工程投资的实际成本，包括建安工程投资、设备投资、待摊投资和 其他投资。 5.2“货币资金”期末余额为107016746.14元。本科目核算各项目单 位存入银行的各种存款（包括专用账户存款）及现金。 5.3“专用账户存款”期末余额为364372.41美元，约合人民币 2380882.2元。核算世界银行回补的项目贷款资金。 5.4“项目借款”期末余额为391523275.12元。反映项目单位为完成 项目计戈｛、借入的各种建设投资借款和其他各种借款。其中：国外借款期 末余额为57718996.19粎元（包括项目先征费250000美元），约合人民 币379528347.n元。国内借款期末余额为11994928．沮元，是项目使用 的地方政府债券。 5.5“未交款合计”期末余额为一94952972.65元。核算项目单位期末 应交税金、应交基建包干结余、应交基建收入和其他应交款。本报表主要 反映项目单位产生的增值税进项税留抵。 5.6“留成收入”期末余额为一166354.58元。核算项目单位取得试车 收入、物资转让净额，索额与违约净额，转贷利差、未分配利润等。本报 表主要反应转贷利差收入。 6．其他重要事项 无 15 V. Notes to the Financial Statements Notes to the Financial Statements 1. Project overview Shanxi Gas Utilization Project is financed by the World Bank, and implemented by Shanxi Guoxin Energy Development Group Co., Ltd. (hereinafter referred to as " GXED ). The construction components include: 2 gas-fired CHP projects and 5 -as distribution network projects, i.e. newly-built 120MW distributed gas-fired CHP project in Baode County of Xinzhou City and Xtiyanc; County of Jinzhong City respectively, with heat-supply load of 47.5MW, as well as gas distribution network built in Changzhl County, Xianayuan County, Tunliu County,Yan-cheng County and Qingxu County. The implementation of the Project could accelerate the adjustment of economic structure of Shanxi, promote the in-depth reform of energy transportation, supply and consumption. In addition, the implementation of the Project could further improve the ecological environment, reduce the greenhouse gas emission in selected areas and counties, enhance the energy utilization efficiency, optimize the energy consumption structure and promote the development of "fourgas" development of Shanxi. Z:) The implementing, agencies of the Project include Shanxi Natural Gas Company (SNGC), Shanxi Coal Bed Methane Pipeline & Transportation Company (SCPTC), and Shanxi Qlngxu Kaltong Natural Gas Company (QKNGC), all of which are subsidiaries of GXED. SNGC is responsible for 2 distributed gas-fired CHP components in Baode and Xiyang County. SCPTC is responsible for the gas distribution network components in Chanc,zhi, Tunliu , Xiangyuan and Yangcheng County. QKNGC is for the gas distribution network component in Q*ncxu County. responsi I t> In January 2014, National Development and Reforrn Commission officially approved Shanxi Gas Utilization Project (FA GAI WAI ZI [20141 No. 13). The total investment of the Project is CNY 1.802 billion, with the World Bank Loan of US 100 million dollars (equivalent to CNY 610 million), including US 97 million dollars used for physical construction (civil works: 4.51million US dollars, equipment and material procurement: 92.49 million US dollars), US 2.75 million dollars used for technical assistance (consulting service and training) and US 250,000 dollars of front-end fee. The construction period of the Project is 5 years. In May 2014, the World Bank 16 and the Ministry of Finance signed the Loan Agreement, with total loan of US 100 million dollars, including US 250,000 dollars of front-end fee. The Project came into effect in 90 days afterwards the signing date of the Loan Agreement. The closing date is June 30, 2020. 2. Consolidation Scope of the Financial Statements and Basis of Preparation Consolidation scope covers the financial statements as of December 31, 2017 of Project Management Office of GXED, Baode Gas-fired CHP Component, Xiyang Gas-fired CHP Component, as well as gas distribution network components in Tunliu, Xiangyuan, Changzhi ,Yangcheng and Qingxu County, as well as the special account statement of Shanxi Provincial Department of Finance. 3. Main Accounting Policies 3.1 The applicable accounting policies include: Accounting Standard for Business Enterprises, Accounting Methods for the World Bank Financed Project and Provisional Measures on Financial Management, Accounting and Loan Withdrawal and Reimbursement of Shanxi Gas Utilization Project, as well as other related regulations. 3.2 In accounting practice, the Gregorian calendar year is adopted as the fiscal year from January 1 to December 3 1. 3.3 The accrual basis and the debit/credit double entry bookkeeping method are adopted. RMB is used as the recording currency of bookkeeping. 4. Project Implementation Progress 4.1 Execution of Loan Agreement: As of December 31, 2017, totally 58,083,368.60 US dollars have been withdrawn from the World Bank, including 18,141,519.02 US dollars as the reimbursement from the World Bank, 35,020,370.46 US dollars paid through letter of credit, 4,671,479.12 US dollars as direct payment and 250,000 US dollars as the front-end fee. 4.2 Special account: The special account is established in Shanxi Branch, Construction Bank of China, account No.: 14014410100220503113, currency: USD. As of December 31, 2017, totally 8,547,931.76 US dollars have been reimbursed from the World Bank. The interest income during the current period is 2,332.99 US dollars; 12,219,606.74 US dollars was paid during the 17 current period as the project expenditure; 30 US dollars was paid as the service fee. The balance at the end of the period is 369,190.37 US dollars. 4.3 Project Investment Progress:As of December 31, 2017, the total investment of CNY 836,826,726.55 has been completed, including goods: CNY 204,440,891.30, works: CNY275,276,806.97, others (mainly referred as unamortized expenses): CNY 350,997,069.94, technical assistance: CNY 4,478,408.34, and front-end fee: CNY 1,633,550. 5 Explanation of Subjects 5.1 Construction in Progress: Its balance as of December 31, 2017 was CNY 833,218,757.91, including investment of building and erection project, equipment investment, amortized investment and other investment. 5.2 Cash and Bank: Its balance on December 31, 2017 was CNY107,016,746.14, including the bank deposits and cashes of each project entity. 5.3 Ending Balance of the Special Account: this is refers to the special fund of World Bank loan. The ending balance is 364,372.41 US dollars, equivalent to CNY2,380,882.2. 5.4 Project Loan: the ending balance is CNY391,523,275.12, reflecting construction investment loan and other loans borrowed by the project entities, in order to accomplish the project target, including foreign loan: 57,718,996.19 US dollars (including 250,000 US dollars of front-end fee), equivalent to CNY379,528,347.1 1, as well as the domestic loan: CNY 11,994,928.01, which is the local government bond purchased by project entity. 5.5 Other Payables: Its ending balance is CNY-94,952,972.65, reflecting tax payable, carry-over balance payable of construction project, payable income of construction project and other payables. In this report, it mainly refers to the retained input tax of VAT. 5.6 Retained Earnings: Its ending balance is CNY-166,354.58, referring to revenue of commissioning, net value of material transfer, net value of claim and penalty, as well as the interest margin of on-lending. In this report, it mainly refers to the interest margin of on-lending. 6 Other Material Matters None. is