EmnPL OrEAT Public Disclosure...
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EmnPL OrEAT ?'HELVETAS NEPAL EMPLMMUTSwiss Intercooperation F UN D investing in nepars ruture Jawalakhel, Lalitpur GPO Box # 688, Kathmandu, Nepal. Tel.: 5000209, 5000226. Fax: 5524991 Email: [email protected] Toll Free# 166001 50505, Website: wwwemploymentfund.org.np Ref. No # EFS/1 30/2015 - 7iJ L 2015 s. T WORLD B NK RECEPTION Financial Management Specialist The World Bank Country Office, Kathmandu, Nepal Kathmandu, 3 rd July 2015 ... I........................................ I.................................................... The Audited Financial Statement of Adolescent Girls Employment Initiatives II (AGEI 11), Project (TF 016296) ................................................................................................ Dear Ms. Timila Shrestha, Please find attached herewith the audited financial statements for Adolescent Girls Employment Initiatives II (AGEI 11), Project (TF 016296) for the year ended December 2014. We highly appreciate your continuous support and remain thanking you. Sincerely yours' EMPLOYmnT F UNID"mmmusoftts.a Ba am Paudel Team Leader Employment Fund Secretariat CC: Jasmine Rajbhandari, TTL, AGEI-I Employmet Fund :EF) is financed by Swiss Agency for Development and Cooperation (SDC). World Bank :WB) and UK Department for Internationa Development iDFID). EF closely works with Government of Nepal GoN) and private sector Training and Employment Serivice Providers (T&Es). Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized
Transcript of EmnPL OrEAT Public Disclosure...
EmnPL OrEAT ?'HELVETAS NEPALEMPLMMUTSwiss Intercooperation
F U N D investing in nepars ruture
Jawalakhel, Lalitpur GPO Box # 688, Kathmandu, Nepal. Tel.: 5000209, 5000226. Fax: 5524991 Email: [email protected] Free# 166001 50505, Website: wwwemploymentfund.org.np
Ref. No # EFS/1 30/2015- 7iJ L 2015
s. T WORLD B NK RECEPTION
Financial Management SpecialistThe World BankCountry Office, Kathmandu, Nepal
Kathmandu, 3rd July 2015
...I........................................ I....................................................The Audited Financial Statement of Adolescent Girls Employment Initiatives II (AGEI 11),
Project (TF 016296)................................................................................................
Dear Ms. Timila Shrestha,
Please find attached herewith the audited financial statements for Adolescent GirlsEmployment Initiatives II (AGEI 11), Project (TF 016296) for the year ended December 2014.
We highly appreciate your continuous support and remain thanking you.
Sincerely yours'
EMPLOYmnTF UNID"mmmusoftts.aBa am PaudelTeam LeaderEmployment Fund Secretariat
CC: Jasmine Rajbhandari, TTL, AGEI-I
Employmet Fund :EF) is financed by Swiss Agency for Development and Cooperation (SDC). World Bank :WB) and UK Department for InternationaDevelopment iDFID). EF closely works with Government of Nepal GoN) and private sector Training and Employment Serivice Providers (T&Es).
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JOSHI&BHANDARY
HELVETAS Swiss Intercooperation Nepal
Adolescent Girls Employment Initiative (AGEI l1) Project
Audit Report and Expenditure Report
For the year ended December 31, 2014
Date of Issue: April 15, 2015
Sjrictly Private and ConfidentialThis Audit Repot is a confidential document and is for the use of HELVETAS Swiss Intercooperation,Nepal and shall not be distributed outside without the permission of HELVETAS Swiss Intercooperation,Nepal.
JOSHI & BHANDARY , Chartered Accountants a GPO. Box: 3423Kosi Compound, DillibazarKathmandu, NepalTel: 977-1-4419364Tel: 977-1-4423550Fax: 977-1-4413038
Auditor's Report to Web: wwwJb.com.np
HELVETAS Swiss Intercooperation, Nepal
We have audited the accompanying Financial Statement for "Adolescent Girls EmploymentInitiative II Project" comprising of Sources and Uses of Funds, Statement of HELVETAS NepalReimbursable, Cash Withdrawal (Disbursement) Statement, Statement of Expenditure as perProgram Components, Reconciliation Statement of IDA Designated Account, Statement ofExpenditure (SOE), Memorandum of Designated Account together with notes thereon,implemented by HELVETAS Swiss Intercooperation, Nepal for the period ended December 31,2014.
Management is responsible for the preparation and fair presentation of this financial statementsrelating to expenses in accordance with Generally Accepted Accounting Principles and relevantpractices. This responsibility includes: designing, implementing and maintaining internal controlrelevant to the preparation and fair presentation of financial statements that are free from materialmisstatement, whether due to fraud or error; selecting and applying appropriate accounting policies;and making accounting estimates that are reasonable in the circumstance.
Our responsibility is to express an opinion on these financial statements based on our audit. Weconducted our audit in accordance with Nepal Standard on Auditing. Those standards require that weplan and perform audit to obtain reasonable assurance about whether the financial relating toexpenses is free of material misstatement. An audit includes examining, on a test basis, evidencesupporting the amount and disclosures in the financial statement. An audit also includes assessingthe accounting principles used and significant estimates made by management, as well as evaluatingthe overall presentation of the financial statement. We believe that our audit provides a reasonablebasis for our opinion.
In our opinion, the financial statements referred to above, give a true and fair view in all materialrespects, of the financial position and performance for "Adolescent Girls Employment Initiative 11Project" implemented by HELVETAS Swiss intercooperation, Nepal for the period endedDecember 31, 2014 in accordance with Generally Accepted Principles and relevant practices.
Prabhu Ram Bhanda FCA <Managing Partner
Date : April 15, 2015Place : Kathmandu
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HELVETAS NEPALEMPLOYMENT FUND SECRETARIAT
Adolescent Girls Employment Initiative (AGEI II) Project
MEMORANDUM OF DESIGNATED ACCOUNTAS ON: 31 DECEMBER 2014
I Account # 01039725351
Note Description Amount in NPR Eqivalent US $
A Balance of Designated A/C as at 31 December 2014
B Outstanding Replenishment of Previous Year ..........
Direct Payment
Helvetas Fund Transfer
C Disbursement During the Year......
Direct Payment
Helvetas Fund Transfer
D Replenishment During FY........
Direct Payment
Helvetas Fund Transfer
E Recovery During the Year ............
Direct Payment
Helvetas Fund Transfer
F Outstanding Replenishment
Direct Payment
Helvetas Fund Transfer
(F = B+C-D-E)
G Foreign Exchange Gain I Loss
H Designated Account Initial Deposit (H A+F+G)
Biki Koirala Bal m Paudel Dr. Bharat Kumar Pokharel Prabhu Ram Bh dary, F(Sr. Finance and Admin. Officer Team Leader Country Director Managing Partner
Joshi & BhandaryChartered Accountants
Date: 10 March 2015
H ELVETAS Swiss Intercooperation Nepal
EMPLOYMENT FUND SECRETARIAT
ACCOUNTING POLICIES AND NOTES TO THE AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED31 DECEMBER 2014
1. Scope of the financial statements
The financial statements incorporate receipts and expenditure of programs funded by World Bank for the period 1 January2014 to 31 December 2014 under Adolescent Girls Employment Initiative (AGE II) Project agreement for the employmentfund.
2. Basis of accounting and accounting policies
The transactions of the Employment Fund /HELVETAS Swiss Intercooperation Nepal are accounted for on cash basis withconsequential provision of certain year-end outstanding liabilities/unsettled claims as modified policies provided in the notes.
2.1 Currency translation
Funds from World Bank are transferred in Nepalees Rupees to Employment Fund/HELVETAS Swiss Intercooperation Nepalbank account maintained in Nepalees Rupees to fund expenditure incurred by the Employment Fund Secretariat under theaccountable grant agreement.
The records of financial transactions of the Employment Fund are maintained in Nepalese Rupees. Quarterly expenses inNepalese Rupees as per HELVETAS Swiss Intercooperation Nepal books of account are reported in this statement.
3. Notes to accounts
3.1 Receipts of Fund from World Bank
Grant funds are reimbursement of expenditure made during the period. Grant received amount of USD 264,869.65 receivedafter balance sheet date ti.e. as on 11 Feb 2015] shown under cash Withdrawl (Disbursement) Statement is the amountreimbursement for expenditure made during the year 2014
3.2 Balance of funds
Out of the total expenditures amounting NPR 45,256,917.45 reported under Adolescent Girls Employment Initiative (AGEI II)Project for the year ended 31 December 2014, NPR 19,188,446.72 (USD 196,488.39) was received during the period from 1January to 31 December 2014 and remaining balance of amounting NPR 26,068,470.73 (USD 264,869.65) is received inFebruary 2015.
