world bank documentdocuments.worldbank.org/curated/en/305861468107942046/...operations and...
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TELEPHONE: 27751 P.O. Box 13FAX: 24167 APIA, SAMOAEMAIL: [email protected]: www.audit.gov.ws
Please address alt correspondencesto the Controller and Auditor General
AUDIT OFFICE
24 December 2015
Lavea Tupa'imatuna lulai LaveaChief Executive OfficerMinistry of FinanceCentral Bank BuildingAPIA
SAMOA AVIATION INVESTMENT PROJECTSIGNED AUDIT OPINION AND AUDITED FINANCIAL STATEMENTS ANDMANAGEMENT LETTER REPORTFOR THE PERIOD 1sT JULY 2013 TO 3 0TH JUNE 2015.
Please find enclosed is the signed audit opinion and one set of the audited financialstatements for the Samoa Aviation Investment Project for the period 1 July 2013 to 30 June2015. Also included is the signed management letter report. The invoice for the audit for thesame period will be sent later on.
We would like to thank your good self and staff for your cooperation and assistance.
Should you have any further queries please do not hesitate to contact me on 277-51
Ma lo'u fa'aaloalo lava,
uim no Papai'i Camillo AfeleCONTROLLER AND AUIDITOR-GENERAL
SAMOA AVIATION INVESTMENT PROJECT(SAIP)
FINANCIAL STATEMENTS
FOR THE PERIOD 01 JULY 2013 TO 30 JUNE 2015
SAMOA AVIATION INVESTMENT PROJECTFINANCIAL STATEMENTSFOR THE PERIOD 01 JULY 2013 TO 30 JUNE 2015
CONTENTS Page(s)
1. Report of the Auditor 1
2. Certification by lanaaement 2
3. Statemwnt of Receipts and Paymenls 3
5. Notes to the Financial Statements 4-7
TELEPHONE: 27751 P.O- Box 13FAX: 24167 APIA, SAMOAEMAIL: [email protected]: www.audit.gov.ws .
Please address all correspondencesto the Controller and Auditor General
AUDIT OFFICE
REPORT OF THE AUDIT OFFICE
TO THE MINISTRY OF FINANCE - GOVERNMENT OF SAMOAWe have audited the accompanying Project Financial Statements for the Samoa Aviation Investment
Project with explanatory notes for the period 1" July 2013 to 30' June 2015.
Mlanagement's Responsibility for the Financial StatementsThe preparations of the Project Financial Statements are the responsibility of the Implementing Agency.
Samoa Airport Authority, the Samoa Aviation Investment Project Team and the Ministry of Finance,
which is the executing agency. The Implementing and Executing Agencies policies are to prepare these
financial acquittal reports in accordance with the requirements of the Donors - World Bank, on the cash
receipts and disbursement basis.
Auditor's ResponsibilityOur responsibility is to express an opinion on the accompanying Project Financial Statements based on
our audit.
We conducted our audit in accordance with International Standards on Auditing. These standards require
that we plan and perform the audit to obtain reasonable assurance about whether the Project Financial
Statements are free from material misstatement and expenditures comply with the examination of the
evidence supporting the amounts and disclosures in the Project Financial Statements. We believe that our
audit provides a reasonable basis for our opinion.
OpinionIn our opinion. the accompanying Project Financial Statements present fairly. in all material respects, the
funds received and the expenditure paid by the Implementing Agency during the period 01 July 2013 to
30 June 2015, in accordance with the requirements of the Donor. World Bank.
24 December 2015 FuimaonoPapali'i Camillo AfeleApia, Samoa CONTROLLER AND AUDITOR-GENERAL
SAMOA AVIATION INVESTMENT PROJECTCERTIFICATION BY PROJECT'S MANAGEMENTFOR TIl EPERIOD 01 JULY 2013 TO 30 JUNE 2015
We certify that the anached financial siatemerls for the Samoa Aviation Investmenii ProJet (SAIP) comprisig of
the Stalenent of Receipts and Paynenis and notes ormning pat ofthe funancial statements for the period from 01 Juty 2013
to 30 June 2015 (24 Months)
a) give a tec and fair vies of the matters to 5hich they relaie, and
b) have been properlv drawn up in accordance with the accounting poc, deseribed in Note 2 to the financial statements
We are not aware of anY circumstances vhiich would render anY particulas ineluded in the financial statements to be
misleading or inaccuraie.
Wc aulhorise the altached financial statemenis for issuc on ./ .Z.. n behalfof, the Minagenent el
the SaIoa Aviation Investment 'roject
Sign ture4W1,ru
Lavea Tupa'iynazua Mi Lara Magrle lToe Vial(
CHIEF EXECUTIVk OFFICER GENERAL NLANAGER
Miistf) of Fance Samnn Airport Authorily
Apia, Samoa Apia Samoa
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SAMOA AVIATION INVESTMENT PROJECTSTATEMENT OF RECEIPTS AND PAYMENTSFOR THE PERIOD 01 JULY 2013 TO 30 JUNE 2015
Notes 30 JUNE
2015(24 Months)
SRECEIPTS(iants S 907.805
Total Receipts 907,805
PAYMENTS
Programme Activities ExpenditureComponent A: Aviation infrastructure Investments 6 74.642Component 13: Aviation Sector Reform and Training 6 10.372Component C: Strengthening Airport Operations and Management Capacity -Component D: Project Implementation Support 6 446,262
Total Samoa Aviation Investment Project Activities Expenditure 622,276
Total Payments 622,276
Increase/(Decrease) in Cash 285,528
Cash at Beginnitg of Period -
Cash at End of Period 4 285.528
This statement ofreceipts and paymnts mst hr read in conunction with the accompatning notes.
SAMOA AVIATION INVESTMENT PROJECTNOTES TO THE FINANCIAL STATEMENTSFOR THE PERIOD 01 JULY 2013 TO 30 JUNE 2015
. GENERAL INFORMATION
The Goverment of Samoa through the Implementing Agency -- Samoa Airport Authority (SAA), has received a sTant foassistance from the International Development Association under the Pacific Aviation Investment Project (PAIP)
The PAIP Program is a regional aviation project wsith the development objective to provide sale and secure air transportoperations and environmentally sustainable and efficient airports.
The Samoa Aviation Investment Project Financing agreement was officially signed on the 8th May 2014 but preparatory
expenditures were incurred since October of 2013. the value of the Grant in SDR is 16.300M000.00 which equated toUSD25M at the time of signing. In addition to the IDA grant is aI JSD 300.000 grant from the Pacific Region InfrastructoreFacility (PRIF) signed and dated on the same date.
SAIP is implemented under the overall guidance. coordination and monitoring of the National Steering Committee. and theProgram Steering Conunitice as part of the regional program of aviation investments (which currently includes Tonga.TuvalO. Kiribati. Samoa and Vanuatu). SAW is supported by the Technical and Fiduciary Services Unit (TFSt J): based inTonga, and also tasked to support the revional program. with cost sharing arrangements agreed as per the ProgramOperations Manual (POM).
A Special Purpose Account for the SAIP was established and is governed by the Financing Agreement and is known as
the Samoa Aviation Investment Project Account. The purpose of the SAIP Account is to disburse funds for Project
activities. the SAIP is to be implemented in accordance with the principles, structures and responsibilities set out in the
Financing A greement.
2. SUMMARY OF ACCOUNTING POLICIES
2.1 BASIS OF PREPARATION
The financial statements of the Samoa Aviation Investuent Project (SAJP) has been prepared in accordance ivith the
modified cash basis of accounting. Expenses are recognised when they are paid and Revenue is recogmised when it is
received Therefore. there is no recording of accounts payable as there is no accruing of liabilities. Moreover. SAlPmakes payments once approval and supporting documents are received from the Suppliers. ITie SAIP does purchaseassets which are currently under their ownership The accounting policies have been applied consistently throughout the
period.
2.2 FUNCTIONAL AND PRESENTATION CURRENCY
T he financial statements are preselned in I iS Dollars (t S$). which is the SAP Account's functional currency andall values presented in US Dollars have been rounded to the nearest dollar. Transactions in currencies other than 1JSI)
are translated into 1USD using the actual exchange rate applied by the Central Bank of Samoa (where the transaction arepaid fron the Designated Accounts) or at the applicable rate (where the transactions are paid directly by WB)
2.3 CASH
Cash in the balance sheet comprise of cash at bank only.
2.4 RECEIPTSGrams are received from the World ltank. llhc amount is based on a request from Government of Sanou through the
Ministry of Finance (MOF) for approval and transfer front the World Bank. Both MOf & SAIP have access to
Client Connection, the website that is used to manage grant funds and to check on the financial status.
Paec 4
SAMOA AVIATION INVESTMENT PROJECTNOTES TO THE FINANCIAL STATEMENTSFOR THE PERIOD 01 JULY 2013 TO 30 JUNE 2015
2.5 PAYMENTSPayments relate to all expenditure payments made to suppliers for goods and services relating to the SAIP. Paymentsare approved by the General Manager for Samoa Airport Authority and are subsequently paid by the Ministry of Financein accordance with the Program Operational Manual (POM). Payments are also paid for by the Samoa Airport Authorityand reimbursed from the CBS account monitored by MOV. Payments are made in line with the Project Aeententsbetween the Government of Samoa, the Technical & Fiduciary Services tI Tnit (TFSt) and the World Bank Any variationto the Project Agreement would be submitted by SAIP to MOF for consideration.
3. FINANCIAL PERIOD
the financial statements for the Samoa Aviation Investment Project for 30 June 2015 are for a twenty four month
period from Ist July 2013 to 30th June 2015. There are no comparatives as this will be the first financial report.
30 JUN4. CASH AT BANK 201.5
SSamoa Aviation Investment ProjectCBS IISD - account number 06-078 285,528
285,528
5. GRANTS 30 JUNE2015
S
Grants from World Bank/IIDA 808,785Grants from World Bank/PRIF 99.020Total 907,805
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SAMOA AVIATION INVESTMENT PROJECTNOTES TO THE FINANCIAL STATEMENTSFOR THE PERIOD 01 JULY 2013 TO 30 JUNE 2015
6. COMPARISON OF BUDGET AND ACTUAL EXPENDIT1REJS TO DATE BY PROGRAMME ACIVITY
Actual Accumulated Approved Budget30 JNE 2015 (24 Months) Expenditures Expenditures Activity Remaing/
to Date Budget (Overspent)Component A: Aviation Infrastructure Investments S S S 5
A05 - Air Traffic Control Equipment - 470,000 470,000A07 - Inproved Power Supply - 1,270.000 1.270.000A 13 - Airfield lighting and cabling - 600,000 600U000A03 - Automatic dependent surveilLancc-broadcast (ADS-B) - - 400000 4,000A06. i - VSAT Installation of Hardware - 120,000 120,000A06.2 - VSAT Management Contract & Deign of Specificaions - - 80,000 80,000AU8 - Fire Tender Vehicle (Samoa) - - 920,000 920.000A09 - Fire Safety EqUipmen for Fire Crews (Samoa) 14.387 14,387 100.000 85.613Al4 I - D)esign and Supervision - Runway 60.255 60,255 500.000 439.745A14.2 - Design and Supervision - Other key In1esUnenits - 850,000 850,000Al5.4 - Resurface Runwa'y, Apron and Taxiwav (SA) - 12,060,000 12,060,000Al9 - Maintenance Fquipment Building - 150,000 150,000A3 1 - Water Tanks (2 x 100,000L) - 100.000 100100
A32 - CCTV 50.000 50.000
74.642 74,642 17,670,000 17,595,358
Component B: Aviation Sector Reform and Training
1303 - Samoa National Aviation Strategv - 10K.000 300000
B05 - PASO Safety and Security Oversight 99,020 99020 300,000 200.980
B06 - Support CAA'a and Tine Ministries - - 325.000 325.000
B08 - Training (CAD1 2,3 5 2 2.352 250.000 247,648
101,372 101,372 1,175,000 1,073,628
Component C: Strengthening Airport Operations and Management Capacit-
C06 - Asset Management System (ASM)* - 500,000 500.000
C07 - SAA Strategy and Buitness PMlan - 100.000 300000
C08 - Traudng Needs Analysis (TNA) for SAA aid CAA - 100.000 100,000
C09 - Training (SAA) - 250.000 250,000
- 1,150,000 1,150,000
Component D: Project Implementation Support
D24 - VSAT Arual Subscription -- 25000 25.000
1)25 - Country Project Operaling Costs (Total budgetary allocation) 34.838 34,838 250,000 215,162
Samoa Staff Budget - - 500,000 500.000
Samoa Project Preparation Fund 160,783 160.79 100000 (60.783)
TFSU Staff Budget & Operational Cosis 250642 250.642 1.538,100 1297-458
446,262 446,262 2,413,100 1,966,838
Total of World Bank Funded Activities 622.276 622,276 22A08,100 2 L785,824
Shortfall to be sourced (refer note 10) - - 8.040000 8.040,000
Total for SAIP 622,276 622,276 30,448,100 29,825,824ueden'
SAMOA AVIATION INVESTMENT PROJECTNOTES TO THE FINANCIAL STATEMENTSFOR THE PERIOD 01 JULY 2013 TO 30 JUNE 2015
ADDITIONAL DISCLOSURES
7. PAYMENTS MADE BV SAMOA AIRPORT AUTHORITY (SAA)30 JUNE 2015
WSTPamenes made by SAA on behalf ofSAI'P which are being assessed ifeligible for reimbursement 216,379.54
8. FACILITY AVAILABLE
Grants in historical fiLures includin. available balances as at 30 JUNTE 2015:
RemainingSigned Amount Disbursed Balance
HMA (ran SDR 16.300,000 SDR 568.613 SDR 15,731,387PRIb Grant UISD 300.000 111SD 99,020 USD 200,980
9. PROPERT!Y, PLAN! AND EQUIPMENT
Property plant and equipment items are stated at cost.
Additions ClosingOpening SD USD Disposals USD USD
Volor VChicie - 34,255 - 34255- 34,255 - 34,255
10. SUBSEQUENT EVENT
After the financial vear end, the shortfall of approximately USDS,040.000.00 which was to hefinanced through a loan with the European Investment Bank (FTB) has now been cancelled.A concessional loan is now to be requested from the World Bank to financ" the shortfall.
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