*       "NIISLEL-AUDIT" LLC
AUDITOR'S REPORT
Improving Primary Education Outcomes For The Most
Vulnerable Children in Rural Mongolia Project
No.TF012100
Financial statements as of December 31, 2016
Ulaanbaatar 2017


"NIISLEL AUDIT" LLC
Certified audit, appraisal and accounting consultancy company
INDEPENDENT AUDITOR'S REPORT
To: Mr. Mitsuaki Toyoda Country Director
Improving Primary Education Outcomes for
The Most Vulnerable Children in Rural Mongolia Project
"Save the children" Non-Governmental Organization
Grant No: TF012100
We have audited the Financial Management Reports comprising the balance sheet, project source
and uses of funds by project activity, disbursement report and the designated account statement
of Improving Primary Education Outcomes for The Most Vulnerable Children in Rural Mongolia
Project Grant No: TF012100 for the year ended December 31, 2016. The management of
Improving Primary Education Outcomes for The Most Vulnerable Children in Rural Mongolia
Project is to prepare the Financial Management Reports on the cash receipts and payments basis
in conformity with International Public Sector Accounting Standards (IPSAS). On this basis,
cash receipts are recognized when received and cash expenditures are recognized when paid
rather than when incurred. Our responsibility is to express an opinion thereon based on our audit.
We conducted our audit in accordance with International Standards on Auditing issued by the
International Auditing and Assurance Standards Board of the International Federation of
Accountants. These standards require that we plan and perform the audit to obtain reasonable
assurance about whether the interim financial reports are free of material misstatement. An audit
includes examining on test basis, evidence supporting the amounts and disclosures in the interim
financial reports. An audit also includes assessing the accounting principles used and significant
estimates made by management as well as evaluating the overall statement presentation. We
believe our audit provides a reasonable basis for our opinion.
In our opinion, the Financial Management Reports have been prepared in accordance with
International Public Sector Accounting Standard issued by the Public Sector Committee of the
Federation of Accountants, presented fairly the cash receipts and payments of the project during
the year ended December 31, 2016 and furthermore in all material respected, expenditure have
applied to the purpose intended in the Grant Agreement, Grant No: TFO 12100.
Utaanbaalar city, Sukhbaatar district, Saga toiruu-44 Phone/Fax: 31-89-18, 70120095
E-mail: info@nfistelaudit.mn
UJ


I1
Japan Social Development Fund -TF012100
"IMPROVING PRIMARY EDUCATION OUTCOMES FOR THE MOST
VULNERABLE CHILDREN IN RURAL MONGOLIA PROJECT-130760
AUDITED BALANCE SHEET
(as of 31 December 2016)
(USD)
2015.12.31           2016.12.31
ASSET
Cash
Small fund /MNT/                                                     .                    .
Designated account /USD/                                    198,325.80            157,509.00
Total cash                                                     198,325.80           157.509.00
NON-CURRENT ASSET
Goods                                                       539,811.65           643,433.95
Consultant's services                                       236,936.30           276,147.08
Training                                                    808,016.25          1,005,166.97
Civilworks                                                   27,202.46            27,202.46
Community Block Grants                                       72,488.49            99,618.39
Operating costs                                             121,232.81            146,077.40
Non-financed funds                                              209.65                 0.01
Total                                                        1,805,978.61          2,197,686.26
TOTAL ASSET                                                  2,004,304.41          2,355,195.26
LIABILITIES AND SOURCES
Sources
Grant Fund from Japan Social Development Fund             2,000,579.00         2,349,909.00
"Save the Children" Non-governmental Organization Fund
Total sources                                                2,000,579.00          2,349,909.00
Bank net interest income
Designated account net interest income                       3,725.41              5,286.26
Total net interest income                                        3,725.41             5,286.26
TOTAL LIABILITIES AND SOURCES                                2,004,304.41          2,355,195.26
Mitsuaki Toyoda                                            Gereltuya Ts.
Country Director                 C                         Project Manager
Bulgan B.K                         n
Finance Manager                            d
L)
LH          ..  ..........


"NIISLEL AUDIT" LLC
-1                  Certified audit, appraisal and accounting consultancy company
INDEPENDENT AUDITOR'S REPORT
To: Mr. Mitsuaki Toyoda Country Director
Improving Primary Education Outcomes for
The Most Vulnerable Children in Rural Mongolia Project
"Save the children" Non-Governmental Organization
Grant No: TF012100
We have audited the accompanying statement Sources and Uses of Funds of Improving Primary
Education Outcomes for The Most Vulnerable Children in Rural Mongolia Project submitted to
the World Bank during the year ended December 31, 2016 in support of credit withdrawals under
the Grant Agreement, Grant No: TFO 12100.
We conducted our audit in accordance with generally accepted auditing standards that
accordingly included examination, on a test basis, of evidence supporting the amounts and
disclosures in the statement of Sources and User of Funds. An audit also includes assessing the
accounting principles used and significant estimates made by management as well as evaluating
the overall statement presentation. We believe our audit provides a reasonable basis for our
opinion.
In our opinion, the statement of Sources and Uses of Funds submitted together with the internal
controls and procedures involved in their preparation can be relied upon to support the
application for credit withdrawals.
"Niie      t"&LC
L I
Ulaanbaatar city, Sukhbaatar district, Baga toiruu-44 Phone/Fax: 31-89-18, 70120095
E-mail: info@niisfelaudit.mn
U                                                                       ..  ..


Japan Social Development Fund -TF012100
"IMPROVING PRIMARY EDUCATION OUTCOMES FOR THE MOST
VULNERABLE CHILDREN IN RURAL MONGOLIA PROJECT-130760
AUDITED SOURCES AND USES OF FUNDS
(as at 31 December 2016)
(USD)
EJi                                                         Accumulated as                   Accumulated as
of 31.12.2015                    of 31.12.2016
SOURCES OF FUNDS:
Beginning balance of monetary asset
Grant Fund from Japan Social Development Fund    2,000,579.00    349,330.00       2,349,909.00
"Save the Children" Non-governmental Organization
Fund
Non-financed source
Total sources                    2,000,579.00    349,330.00       2,349,909.00
Bank net interest income                            3,725.41       1,560.85           5,286.26
Total other sources                    3,725.41       1,560.85          5,286.26
TOTAL SOURCES OF FUNDS                           2,004,304.41    350,890.85       2,355,195.26
USES OF FUNDS
Goods                                             539,811.65     103,662.30         643,433.95
Consultants' services                             236,936.30      39,210.78         276,147.08
Training                                          808,016.25     197,150.72       1,005,166.97
Civil works                                        27,202.46             -           27,202.46
Community Block Grants                             72,488.49      27,129.90          99,618.39
Operating costs                                   121,232.81      24,844.59         146,077.40
Amount withdrawn and not yet claimed                  290.65       (290.64)              0.01
TOTAL DISBURSEMENT                               1,805,978.61    391,707.65       2,197,686.26
Financing balance                                 198,325.80    (40,816.80)         157,509.00
Designated account                                198,325.80    (40,816.80)         157,509.00
Operating account
TOTAL CASH AND CASH EQUIVALENTS                   198,325.80    (40,816.80)         157,509.00
Mitsuaki Toyoda                                           Gereltuya Ts.
Country Director                                          Project Manager
Ru
Finance Manager
Ui
U


"NIISLEL AUDIT" LLC
Certified audit, appraisal and accounting consultancy company
INDEPENDENT AUDITOR'S REPORT
To: Mr. Mitsuaki Toyoda Country Director
Improving Primary Education Outcomes for
The Most Vulnerable Children in Rural Mongolia Project
"Save the children" Non-Governmental Organization
Grant No: TF012100
f r1     We have audited the accompanying the Statement of Expenditures (SOEs) of Improving Primary
Education Outcomes for The Most Vulnerable Children in Rural Mongolia Project submitted to
the World Bank during the year ended December 31, 2016 in support of credit withdrawals under
the Grant Agreement, Grant No: TFO 12100.
We conducted our audit in accordance with generally accepted auditing standards that
accordingly included examination, on a test basis, of evidence supporting the amounts and
disclosures in the Statement of Expenditures. An audit also includes assessing the accounting
principles used and significant estimates made by management as well as evaluating the overall
statement presentation. We believe our audit provides a reasonable basis for our opinion.
In our opinion, the Statement of Expenditures submitted together with the internal controls and
procedures involved in their preparation can be relied upon to support the application for credit
withdrawals.
LJ
U       "Nii      dit'LC
Ulaanbaatar city, Sukhbaafar district, Baga toiruu-44 Phone/Fax 31-89-18, 70120095
E-mail: info@niislelaudit.mn
U    ..  ..


Japan Social Development Fund -TF012100
"IMPROVING PRIMARY EDUCATION OUTCOMES FOR THE MOST
VULNERABLE CHILDREN IN RURAL MONGOLIA PROJECT-130760
AUDITED SUMMARY OF APPLICATION FOR WITHDRAWAL
(as at 31 December 2016)
(US1
Claimed                      Financing
Number          Note          date        Amount          date          Amount
Cumulative as of 31 December 2015        1,805,730.86                   22000,579.00
Reference    1 2   3   4
WA-12        4             21-Apr-2016     70,135.25  22-Apr-2016         120,000.00
WA-13        4             22-Sep-2016    108,404.54  27-Sep-2016         109,330.00
WA-14        4            02-Dec-2016     121,012.22  02-Dec-2016        120,000.00
WA-15        4            20-Apr-2017      31,896.21 20-Apr-2017                  -
4  20-Apr-2017      60,550.07 20-Apr-2017                  -
Total as of 31 December 2016              391,998.29                      3493o0.00
Total                                    2,197 729.15                   2-349,909.00
Note:
1. These applications for withdrawals disbursed in reporting year and financed by World bank.
2. These applications for withdrawals were not transferred to Designated account, but paid
directly from World bank.
3. These applications for withdrawals disbursed in previous year and received financing from
World bank in reporting year.
4. These applications for withdrawals disbursed in reporting year, but not claimed from World
bank.
Mitsuaki Toyoda                                      Gereltuya Ts.
Country Director                                     Project Manager
Bulgan B.
Finance Manager


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"NIISLEL AUDIT" LLC
lC g -                Certified audit, appraisal and accounting consultancy company
Date:  .  ,.
INDEPENDENT AUDITOR'S REPORT
To: Mr. Mitsuaki Toyoda Country Director
Improving Primary Education Outcomes for
The Most Vulnerable Children in Rural Mongolia Project
"Save the children" Non-Govern mental Organization
Grant No: TF012100
We have audited the accompanying the Designated Account Statement of Improving Primary
Education Outcomes for The Most Vulnerable Children in Rural Mongolia Project submitted to
the World Bank during the year ended December 31, 2016 in support of credit withdrawals under
the Grant Agreement, Grant No: TFO 12100.
We conducted our audit in accordance with generally accepted auditing standards that
accordingly included examination, on a test basis, of evidence supporting the amounts and
disclosures in the Designated Account Statement. An audit also includes assessing the
accounting principles used and significant estimates made by management as well as evaluating
the overall statement presentation. We believe our audit provides a reasonable basis for our
opinion.
In our opinion, the Designated Account Statement submitted together with the internal controls
and procedures involved in their preparation can be relied upon to support the application for
credit withdrawals.
"Nii e1-#di'LC
Ulaanbaatar city, Sukhbaatar district, Saga toiruu-44 Phone/Fax' 31-89-18, 70120095
E-mail: info@nislelaudit.mn


Japan Social Development Fund -TF012100
"IMPROVING PRIMARY EDUCATION OUTCOMES FOR THE MOST
VULNERABLE CHILDREN IN RURAL MONGOLIA PROJECT-130760
AUDITED STATEMENT OF DESIGNATED ACCOUNT
(as at 31 December 2016)
PART A- ACCOUNT TRANSACTIONS                                                       (USD)
2015/12/31        2016/12/31
Beginning balance                                                76,973.61        198,325.80
Add:
Advance received from Japan Social Development Fund                   -
Funds received from Japan Social Development Fund on that year  803,535.67     349,330.00
Net interest of account balance                                 1,128.41          1,560.85
Deduct:
Goods                                                         178,325.78        103,662.30
Consultants' services                                         47,498.70         39,210.78
Training                                                      380,352.62        197,150.72
Civil works                                                           -
Community Block Grants                                         37,823.85        27,129.90
Operating costs                                                39,063.19        24,844.59
Amount withdrawn and not yet claimed                             247.75          (290.64)
Ending balance                                                  198,325.80        157,509.00
PART B- ACCOUNT RECONCILIATION
Designated account balance as of year ending                    198,325.80        IS7,509.00
Add:
Amount withdrawn and not yet claimed
Non-financed sources                                           51,730.64        60,550.08
Paid for bank service                                                 -
Deduct:
Net interest paid for account balance                           3,725.A1         5,286.26
Non-financed sources
Total advance recorded in designated account                    246,331.03       212,772.82
Mitsuaki Toyoda                                           Gereltuya Ts.
Country Director                                          Project Manager
Bulgan B.
Finance Manager
LI
U9
L
H   .   ..       ..                                                                                              .. . ..............


NOTE 1. PROJECT INTRODUCTION
Project name:                                   Improving primary education outcomes
for the most vulnerable children in rural
Mongolia
Project address:                                Chingeltei district, Khoroo 1, 4 Floor,
Arizona Centre
Grant number:                                   Japan Social Development Fund Grant
-TFO 12100
Implementing agency                             "Save the Children" Non-governmental
U                                                organization
Contract approval date                          2012.02.15
Duration of the project                         2012.06.21-2017.06.21
oProject total budget                                        2,637,579USD
Objective:
UThe project aims to improve quality, performance, and access to pre school and primary school
education for 7500 children aged between 5-10 in 30 sourns of the Arkhangai, Uvurkhangai,
fl           Domnod, Sukhbaatar provinces.
The development objective of the project is to improve the education outcomes of some 7,500
most vulnerable children (aged 5-10) in four educationally underperfoning and underserved
rural aimags (Dorod, Sukhbaatar, Arkhangai and Uvurkhangai) of Mongolia. The project is
comprised of three main components:
fl           1. Strengthening school preparation programs for new school entrants in remote communities
(home-based curriculum development; capacity building and technical support; and
community mobilization);
* Training modules and materials on school readiness developed for parents, school
administrators, kindergarten/primary teachers, and dormitory staff;
* Leaning resource  materials on  school preparation  produced  for 10,000
0                 m    v    children/families;
* 30 Toyand Equipment Libraries setup at 30 target kindergartens/schools;
* 40   soum   governors  and  local government officials trained  on  school
readiness/preparation;
3communi        education councils formed at sou level and conduct regular operations;
Capacity of at least 210 kindergarten/primary/dormitory teachers on school
preparation builtthrough training;
*Upto 30 CEC-s provided with community block grants to promote the program
delvreandreach; and
* At least 3,600 parents/caregivers contacted to share knowledge and skills on caring
for 5-6 year old children's psychosocial and development needs.
Li               2. Introducing extracurricular after-school programs specifically targeting lower-primary age
children living away from home (development of after-school programs; capacity building
and technical support; program delivery support; and community participation); and


*  A school guidance manual on after-school programs developed and 30 soum schools (5
teachers per school, including primary and dormitory teachers and school social workers)
receive relevant training;
*  At least 60 target children regularly attend and benefit from the after-school programs per
school each year during the second year to the fourth year;
*  At least 5 community members are identified, trained and act as after school program
facilitators at each school;
*  500copiesofan"After-School Program Best Practices Manual" developed and circulated to
all schools in Mongolia;
*  Up to 30 CEC-s provided with community block grants to promote the program delivery
and reach; and
*  30 school dormitories supported with basic equipment and renovation.
3. Piloting compensatory distance education programs for lower-primary age children in rural
communities (program curriculum and learning resource material development; parents'
education; capacity building and technical support; and program delivery support).
*  Alternative lower-primary, home-learning education curriculum (gradesl-3)and their
corresponding teaching and learning materials (including a seriesofself-learning
videoprograms) developed and piloted;
*  Atleast 1,000 teaching and learning resource materials developed, produced, and
disseminated;
*  Training for at least 140 teachers,community volunteers and mentor parents trained on
individual teaching/coaching/monitoring techniques and program delivery;
*  At least 300 children enrolled in the alternative lower-primary education equivalency
programs;
*  Capacity of 34 soum/aimag schools or enlightenment centers to deliver program activities
improved (e.g., setting up of resource libraries);
*  Up to 30 CEC-s provided with community block grants to promote the program delivery
and reach; and
*  Project-produced teaching and learning resource materials uploaded on to NFDE's
Q                       website for wider circulation and use.
New approaches and innovations
*  A School Readiness Toy and Equipment library will be established in each of the 30
soums.
*  Community Education Councils will be established in each of the 30 soums.
*  A small sized, results based community block grant scheme will be introduced on a pilot
El                basis.
*  Alternative  lower-primary,home-learning  education  curriculum  (gradesl-3) and
corresponding teaching and learning materials will be developed and piloted, including a
series of self-learning video programs for parents of children in Grade 1-3.
Project source of funds:
World Bank will provide an amount of 2,457,579/two million four hundred fifty seven thousand five
hundred seventy nine/ USD Grant from Japan Social Development Fund according to Recipient
I             agreement. Grant will be disbursed in accordance with following category.
/USD/
Component                       Component name                           Budget
I       Strengthening school preparation programs for new school entrants  731,731.00
J5 toyears of ge in the community
I


2       Introducing extracurricular after-school programs in schools for  623,913.00
vulnerable children (6 to 1Oyears of age)living away from
parents/home
3       Piloting compensatory education programs for lower-primary out-  573,287.00
of-school children (6 to 9 years of age) in rural communities
4       Project management, monitoring and evaluation, and knowledge  528,648.00
dissemination
. ......               Total Project budget                     2,457,579.00
/USD/
Fxpenditure categ            Amount       Financing percentage       Total
Consultants' services, training,  2,165,571.00        100%              2,165,571.00
goods, civil works
Community Block Grants            117,000.00          100%                117,000.00
Operating Costs                   175,008.00          100%                175,008.00
Total amount            2,457,579.00          100%              2,457.579.00
NOTE 2. ACCOUNTING POLICY
The Recipient shall provide the World Bank with the
following  financial reports, which are prepared  in
accordance with the guidelines by the World Bank.
1 . Balance sheet
2. Statement on Use of Funds by disbursement categories
u           1~~ Financial reportingL:Bancshe
3. Statement on Use of Funds by project activity or
components
4. Designated account statement, Designated account
reconciliation statement
5. Statement of Expenditures
Received  fundsand  uses of the Project's financial
statements are prepared on the cash basis of accounting.
Project accounting  should  be in accordancewiththe
-1-_Financial Managment Manual approved by World Bank.
Reporting currency will be USD. MNT incurred costs shall
be converted to USD by TDB exchange rate of first
3    Reporting measurement         working day of each month.
USD incurred costs shall be converted to MNT by TDB
exchange rate of that day.
Balance as of 31 December 2015 should be considered as
beginning balance and account balance should be presented
by cumulative amount as of 31 December 2016 in Project
financial statements.
5    Monitoring organization       World Bank
.      Information System  "Sun Systems" accounting software is used to keep record
6    Registration InforarlonSyste
and report.
Income is recognized when cash is received. Income
7    Income                        consists of World Bank's financing and bank account
interest earnings.
E    d                       Disbursement is recognized as expenditure when the money
is paid according to the purpose.
u                                                                412


LI
Project'sDesignated Account in USD should be opened in a
9    Designated account            commercial bank according to World Bank's approval. The
ceiling of the Designated Account is as follows:
1. GrantTF012100-250,000 USD
Procurement guidelinesofWorld Bank should be adhered to
in the procurement of goods, works and services. Following
[11
methods should be used according to procurement plan of
10   Procurement of goods, works reporting period.
and services                     1. National Competitive Bidding  50,000< 200,000
2. Shopping <50,000
3. Direct Contracting-all contracts regardless of
contract value
Should adhere to Consultantselection guidelines of World
Bank. Following methods should be used according to
procurement plan of reporting period.
1. Quality-cost based selection  100,000
Po      e    o2. Less-cost                     selection-  Assignment   meeting
Procrent  orequirement of Para 3.6 of Consulting guideline.
3. Consultant's Qualification Selection- Assignment
meeting the requirement of Para. 3.7 of Consultant
guideline
4. Individual Consultant Selection  -Assignment
meeting the requirement of Para. 5.1 and 5.3
I
0
0
I
U
LI


NOTES 3.FINANCIAL STATEMENT INDICATORS
A. Cash and cash equivalents
Designated account:
_____________              _/ USD/
Account                           UD
Bank name               Account name         Aunt        2015.12.31    2016.12.31
number
Trade and Development   Designated account  452566696      198,325.80    157,509.00
|Bank                __I-/USD/.42666.18,2.0                               175
Amount                             198,325.80    157,509.00'
Total                             198,325.80     1571509.00
The project does not have small fund and sub-account. Expenditures occurred in rural areas and by
cash are disbursed from non-governmental organization's general account and are replenished from
designated account at the end of every month.
B. Project disbursement
Cumulative disbursement of the Project by disbursementcate1ory: -             /USD/
Disbursement                 1 7 Accumulated              Accumulated   Performanc
Total Budget      as of         2016         as of           e
cat -egr                      31.12.2015                 31.12.2016    percentage
Goods                442,841.00    539,811.65   103,662.30    643,473.95       145.3%
Consultants'         495,560.00    236,936.30    39,210.78    276,147.08       55.7%
services
Training           1,200,170.00    808,016.25   197,150.72   1,005,166.97       83.8%
Civil works           27,000.00     27,202.46           -      27,202.46       100.7%
Community Block      117,000.00     72,488.49    27,129.90     99,618.39        85.1%
Grants                    ___    ________      _______      ________      _______
Operating costs      175,008.00    121,232.81    24,844.59    146,077.40        83.5%
Total amount     2,457,579.00   1,805,687.96  391,998.29    2,197,686.25    89.4%
/ USD/
Components         Total Budget     Actual     Fluctuation    Disbursement
I   Strengthening_    _ schoo            disbursement                  percentage
I   Strengthening school
preparation programs
for new school entrants  731,731.00    839,472.78  (107,741.78)       115%
(5 to 6 years of age) in
the community
2   Introducing
extracurricular after-
school programs in
schools for vulnerable  623,913.00     529,337.79    94,575.21        85%
children (6 to I0years
of age) living away
from Mentshome
3   Piloting compensatory
education programs for
primary out-of-school   573,287.00     455,784.13   117,502.87        80%
children (6 to 9 years of
I


4   Project management,
monitoring and
evaluation, and         528,648.00    373,091.55   155,556.45       71%
knowledge
dissemination
I  Total          2,457,579q00  2,197,686.25  259,892.75       89%
.            C.  Project financing
Finance performance of grant:
/ USD/
Withdrawal
Source                 Budget     Withdrawal    Balance    Withdrawal
percentage
Japan Social Development Fund grant  2,457,579.00  2,349,909.00  107,670.00  95.62%
Total amount            2,457,579.00  2,349,909.00  107,670.00  95.62%
D. Procurement
/ USD/
Disbursement category
Accumulated as                2016    Accumulated as or
of 31.12.2015                             31.12.2016
Goods                           539,811.65          103,662.30          643,433.95
Consultants' services           236,936.30           39,210.78          276,147.08
Training                        808,016.25          197,150.72         1,005,166.97
Total amount            1,584,764.20         340,023.80         1,924,748.00
We investigated processes and documentation for procurement and contracting in accordance with the
provisions of World bank's guideline regulations. The total number of procurement and service
contracts was 17 with total value of 142,873.08 USD (including 15 contracts for purchasing goods
and services worth 103,662.30 USD, 2 contracts for consulting and auditing services worth 39,210.78
USD). We have traced all contracts,evidential documents pertaining to the supplier selection and
purchasing procedures and found that there were no material exceptions.
E. Operating Costs
/USD/
#          Expenditure                   2015         2016           Cumulative
I   Project staff salary             59,796.87    17,999.17            77,796.04
2   Office rent                      48,472.01     3,169.49            51,641.50
3   Recruitment                       4,267.90           0              4,267.90
4   Communication                     4,089.28       717.33             4,806.61
5   Stationery                          331.91       128.59              460.50
6   Other support costs               4,274.84     2,830.01             7,104.85
Total amount              121,232.81    24,844.59          146,077.40
F. Designated account net interest earnings
/ USDI
Bmnkname             Account           2015         2016      Cumulative
number
Trade and Development Bank  452566696      3,725.41      1,560.85       5,286.26
Amount                      1,712.19      1,560.85        5,286.26