rural water supply and sanitation project for low income states march 20, 2014
DESCRIPTION
Rural Water Supply and Sanitation Project for Low Income States March 20, 2014. Some Basic Information. Financing Agreements signed on February 7, 2014 Implementation Period : 6 Years Closing Date: March 31, 2020. Some Basic Information. Disbursement Categories. Some Basic Information. - PowerPoint PPT PresentationTRANSCRIPT
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Rural Water Supply and Sanitation Project for Low Income States
March 20, 2014March 20, 2014
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Some Basic Information
Financing Agreements signed on February
7, 2014
Implementation Period : 6 Years
Closing Date: March 31, 2020
Some Basic Information
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Source TotalIn Million USD
GoI and States 500International Development Association (IDA)
500
Total: 1000
Disbursement Categories
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Category
Amount of the Financing
Allocated
(Million SDR)
Amount of the Financing
Allocated
(Million US$)
Percentage of Expenditures
to be Financed
(Inclusive of Taxes)
IDA
Goods, works, consultants’ services, training and Operating Costs under Parts A, B, and C of the Project
325.1 500 50%
Goods, works, consultants’ services, training and Operating Costs under Part D of the Project
0 0 100%
Some Basic Information
Borrower to pay for IDA credit
Service Charge on principal amount drawn @
0.75% p.a.
Interest payable on withdrawn credit balance @
1.25% p.a.
Maximum commitment charges payable on un-
withdrawn credit @ 0.50% p.a.
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Important Documents
Financing Agreements
Project Agreement
Project Appraisal Document (PAD)
Project Implementation Plan (PIP)/Ops
Manual
Financial Management Manual (FMM)
Procurement Manual
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Financial Management In Bank-financed Projects
Borrower and implementing agencies to maintain adequate financial management systems to ensure proper financial accountability for the use of project resources.
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Financial Covenants
Maintain a financial management system including records and accounts; prepare financial statements as per sound accounting practices;
Ensure that all records are retained until at least 1 year after the Bank has received the last audit report for the project.
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Financial Covenants
Enable Bank’s representatives to examine such records
Have the records and financial statements for each fiscal year audited by auditors acceptable to the Bank
Furnish to the Bank not later than six months after the close of each fiscal year audited financial statements and auditor’s report thereon.
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Financial Covenants
Furnish to the Bank consolidated quarterly Interim Unaudited Financial Reports (IUFRs) in agreed formats no later than 45 days after the end of each Quarter
Release of funds by the Bank is based on expenditures reported in IUFRs
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Non-submission of audit reports
If audit reports are 4 months overdue, reimbursement of claims may be discontinued
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Fund Flow Structure
World Bank
MoDWS
GOI
Flow of Funds
DWSCs-DPMUs
SPMU, Assam
SPMU, UP
SMPU, Bihar
SPMU, Jharkhand
DWSCs-DPMUs
DWSCs-DPMUs
DWSCs- DPMUs
GoUP GOA GOJ GOB
Allocation of funds by SPMU to UP Jal Nigam / GP-WSCs/MVWSCs
GP-WSCs/ MVS-WSCs
GP-WSCs/ MVS-WSCs
GP-WSCs/ MVS-WSCs
GP-WSCs/ MVS-WSCs
UPJN
SWSM, UP
SWSM, Assam
SWSM, Bihar
SWSM, Jharkhand
UPJN
SSM
DSCs
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Accounting CentersName of
Accounting Center
Level Nos. Consolidation Units to be Consolidated IUFRs to be submitted to
Frequency of submission of
IUFRs
NPMU Centre 1 Yes 4 SPMUs World Bank Quarterly
SPMU Assam State 1 Yes 7 DWSCs NPMU Quarterly
SPMU Bihar State 1 Yes 10 DWSCs NPMU Quarterly
SPMU Jharkhand State 1 Yes 5 DWSCs NPMU Quarterly
SPMU Uttar Pradesh
State 1 Yes 10 DWSCs NPMU Quarterly
DWSCAssam District 7 Yes GP-WSCs/MV-WSCs SPMU Quarterly
DWSC Bihar District 10 Yes GP-WSCs/MV-WSCs SPMU Quarterly
DWSC Jharkhand
District 6 Yes GP-WSCs/MV-WSCs SPMU Quarterly
DWSC Uttar Pradesh
District 10 Yes GP-WSCs/MV-WSCs SPMU Quarterly
Total 38
Key Features of Accounting System
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Double entry cash based accounting system
Uniform chart of accounts for all spending units
Accounts to be maintained on Tally at SPMUs, DPMUs
Accounting at GPWSCs manual and basic
Eligibility for Reimbursement
Only paid expenditures. Not Advances
Secured mobilization advancesRetention money/security deposits
when paidAll taxes deducted and paid
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Expenditures that the Bank will not finance
Expenditures outside the scope of the Approved Annual Work PlanGoods works or services not procured in accordance with procurement guidelines of the World Bank. Land acquisition costs
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Internal Controls: FM perspective
Internal Control framework
No schemes can be undertaken unless approved by SLSSC
Annual Financial Audit by Chartered Accountant Firms
Biannual internal audit
Contract Management
Direct Confirmation from Banks on bank guarantees
Variation in contracts to be approved by appropriate authority
No objection by Bank for variation in prior review contracts beyond 15% threshold
Contract ledger to be maintained for all contractors.
Timely payment to contractors
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That’s all !