world bank document · 2020. 8. 7. · gnpt 21 2.100.000 rounding difference 61 other expenses 25...

Aggregated Financial Statements

REPUBLICA DE MOqAMBIQUE

FUNDO DE ESTRADAS

31 December 2014

EYBuilding a betterworking world

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FUNDO DE ESTRADAS

AGGREGATED FINANCIAL STATEMENTS-31 DECEMBER 2014

INDEX PAGES

StatemenI of management responsibilities I

Independent Auditor's Report 2-3

Consolidated Road Sector Accounts - Balance Sheet 4

Consolida!ed Road Sector Accounts - income Statement 5

Road Fund Accounts - Balance Sheet 6

Road Fund Accounts - In come Statement 7

ANE Accounts - Balance Sheet 8

ANE Accounts- Income Statement 9

Provinces Accounts (ANE and Road Fund Delegations) - Balance Sheet 10

Provinces Accounts (ANE and Road Fund Delegations) - Income Statement 11

Municipalities Accounts - Balance Sheet 12

Municipalities Accounts - Income Statement 13

Cabinet of the Zambeze Bridge Project Accounts - Balance Sheet 14

Cabinet of the Zambeze Bridge Project Accounts - Income Statement 15

GNPT - Office of New Bridge Of Tete Accounts - Balance Sheet 16

GNPT - Office of New Bridge Of Tete Accounts - Income Statement 17

Notes to the Financial Statements 18-43

FUNDO DE ESTRADAS

AGGREGATED FINANCIAL STATEMENTS - FOR THE PERIOD ENDED 31 DECEMBER 2014

STATEMENT OF MANAGEMENT RESPONSIBILITIES

The directors are responsible for the preparaton and fair presentation of the aggregated financial statements of FUNDO DE

ESTRADAS, comprisirg the balance sheet as at 31 December 2014 and the statement of income and expenditure for the year

then endec and the notes to the financial statements, wgich include a summary of significant accounting polcies and other

explanatory notes, in accordance with the modified cash receipts and disbursements basis of accounting disclosed in note 2.

The directors are also responsible for such internal contro as the directors determine is necessary to enable the preparation of

financial statements that are free from material misstatenent, whether due to fraud or error, and for maintaining adequate

accounting records anc an effective system of rsk management.

The directors' responsibility also includes ensuring compliance with relevant aws and regulations of the Republic of Mozambique

and apticable terms of agreements.

APPROVAL OF THE AGGREGATED FINANCIAL STATEMENTS

The aggregated financial statements of FUNDO DE ESTRADAS, as ldentified in the first paragraph, were approved by the board of

directors on 24 June 2015. and are signed on its behalf by:

Cecilio'Grachatl Jo5o Mutombene

Chief Executive 0cer Head of Finance Directorate

Building a better2 I" 1 r

(FREE TRANSLATION FROM THE PORTUGUESE VERSION)

INDEPENDENT AUDITOR'S REPORT

To the Management of

FUNDO DE ESTRADAS

Report on the aggregated financial statements

We have audited the accompanying aggregated financial statements of FUNDO DE ESTRADAS,

which comprise the balance sheet as at 31 December 2014 (reflecting total assets of

7.710.861.310 Meticais and total negative equity of 159.015.262 Meticais, including a net

deficit for the year of 690.022.689 Meticais), the statement of income and expenditure for the

year then ended, and a summary of significant accounting policies and other explanatory

information

Management responsibility for the aggregated financial statements

Management is responsible for the preparation and fair presentation of these financial

statements in accordance with basis of accounting set out in note 2, and for such internal control

as Management determines is necessary to enable the preparation of financial statements that

are free from material misstatement, whether due to fraud or error.

Auditors' responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We

conducted our audit in accordance with 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.

An audit involves performing procedures to obtain audit evidence about the amounts and

disclosures in the aggregated financial statements- The procedures selected depend on the

auditor's judgment, including the assessment of the risks of material misstatement of the

aggregated financial statements, whether due to fraud or error. In making those risk

assessments, the auditor considers internal control relevant to the entity's preparation and fair

presentation of the aggregated 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 aggregated financial

statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a

basis for our audit opinion.

Opinion

In our opinion, the aggregated financial statements present fairly, in all material respects, the

financial position of FUNDO DE ESTRADAS as at 31 December 2014, and the statement of

income and expenditures for the period then ended in accordance with the basis of accounting

set out in note 2.

In addition, we confirm, within the scope of our audit, that the transactions were made in

accordance with the contracts, agreements and relevant legislation.

Other matters

We have been assigned by the management on 2 April 2015 to perform the audit of the FUNDO

DE ESTRADAS aggregated financial statements as at 31 December 2014. The financial

statements of the year ended 31 December 2013, were audited by another auditor who

expressed an unrnodified opinion on those financial statements on 7 July 2014, however, our

audit procedures have included tests and analysis considered necessary to obtain audit evidence

on the opening balances as of 1 January 20 14,

Maputo, 26 Jure 2015"'

ERNST& YOUNG, LDA

AFUNDO DE ESTRADAS

AGGREGATED ROAD SECTOR ACCOUNTS

BALANCE SHEET AS AT 31 DECEMBER 2014

(Amounts expressed in Meticais)

Notes 31-Dec-2014 31-Dec-2013

Assets 7.710,861,310 6.112.922.560Cash 3 3.238610 2.313.179Bank 3 1.818,600.947 1278.259.862ReceivaUes 4 6.089.021.753 4,832.349.519

Total assets 7.710.861,310 6.112.922.560

Liabilities 7.889.876.572 5.588.795.927Bank borrowings 5 6.436.68.244 4,617.900.397Short term payables 6 1.433.208.328 970.895.530

Equity (159.015.262) 524.126.633Opening balance 524.126.634 182.463.766Additons of ti year 21 5,000.000 -

Previous year ad;ustmet 7 1-850.793 (12.298.449)Surplus/(defcit) 8 (690.002.689) 353.961.316Rounding diBirenGe os

Total equity and liabilities 7.710.861.310 6.112.922.550

4

AMFUNDO DE ESTRADAS

AGGREGATED ROAD SECTOR ACCOUNTS

STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2014(Amounts expressed in Meticais)

REVENUE 22442.926.137 15.919.022256Government Inv estment finds-Slte budget 9 6837.880.155 5.101,761,567Border laes 10 399.459.895 245,906,810Fud levy 11 4.198.575076 3.734.642-358Grants 12 10.681.580.979 6,736,425.499Terder income 1819 4-995.444 4 720.496Bank inrest income 13 3-488.288 2 592.666Bridge tols 14 69.622.460 54.265-443Exchange ra gain 15 181.094.261 25 938 159Oter income 16 66.229.577 12i769.258

EXPENDITURES 23.132.928.825 15.565.060.942

Administrative expenses 894872165 1.162.232.842Road fund headquarter 17 289,251.297 596.295.040AN E(Administraive Directbrate) 18 213.291.320 173.941.430ANE Delegaons 19 285286.540 316036,557Road fund Delegaions 19 75475.342 74-810-437Oltce of Zambeze Bfidge(GPPZ) 20 - 2500GNPT 21 3142461Municipalihtes - South Region 22 85.551 1,058.366M unicipales - C entra Region 23 35.279 46.183Municipalities - North Region 24 22.175 42329

Capital expenditures 21.200.406.360 13.518.685838Road Wund headuader 17.498.955.565 10.475.935.267AN E (Adrinistraive Directrate) 18 94.343.657 64.181.488AN E Delegaton) 19 2487807 4.449 001Road fund Delegations 19 3.391.631426 2.672.173.302Ofice of Zambeze Bddge{GPPZ) 20 --

GNPT 21 236.597 -Municipaies - South Region 22 66254318 140.116133Municipaies - Cenral Region 23 72.583 683 80.664.970Municipalides - N orth Region 24 73.913.308 81.165.677

Funds allocations 1.02057Z868Estradas do Zarbeze 148.341.111MAPUTO SLIL 872.231.757

Other Expenses 25 906.518 877.434.382

Rounding differences 6

Exchange rate loss 26 16.170.908 6.707.878

(Deflicit)lsurplus (690.002.68) 3533961316

5

AAR

FUNDO DE ESTRADAS

ROAD FUND ACCOUNTS


(Amounts expressed in Meticais]

Notes 31.Dec-2014 31-Dec-2013

Assets 7.204.524.380 5690.702.403Cash 3 2.255684 854509Bank 3 1.363.657.279 934 036027Receivables 4 5838.611417 4-755.811.867

Total assets 7.204,524.380 5690.702.403

Liabities 7.777.187.951 5.494.829.166Bank boowngs 5 6.436-668-245 4.617.900.397Short ertm pay aNes 6 1.340519,706 876.928.768

Equity (572.663.571) 195873.238Opening bJance 195.873.237 (69.596,999)Previous year adFustments 7 (3.834.149) (14.876-128)DecWSVSuplus 8 (764.702659) 280.346.365

Total equity and liabilities 7.204.524.380 5.690.70Z403

6

al a kFUNDO DE ESTRADAS

ROAD FUND ACCOUNTS

STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2014


Notes 2014 2013

Revenue 2.395.047.297 15.898425.581Government investment funds-Slate budget 9 8837.880 155 5101.761567Border taxes 10 399.459.895 245-906-810Fuel levy 11 4.198.575.076 3734,642358Bridge Idis 14 69.622.460 64-265.443Grants 12 10.681.580.979 6.736,425 499Exchange rae gdns 15 181.094,260 18-326.569Bank ierest income 13 3465.367 2.455.636Other income 23.369 104 4.641.699

Expenditure 23.159.749.9% 15.898.425,581

Administrative expenses 289.251.297 596,295.040Administrave expenses 17 289.251.297 5962954

Capital expenditure 17.498.955.565 10.475.935.268Housing 469085 2.759.324Bridge construction 843866.782 320.690.915Roads maineance 875.946.891 462.006.797Roads rahabilitabon 13.001.821.147 8.562.036.187Emergency 491.983.555 514.271.830Road safety 79.548.526 77334.400Machinery and equipment 155.961,878 51.931.059Finance cost 682.351 988 484904757Loan Repayment 1.367.005.714 -

Funds allocations 5,355.661.613 1661117.735AN E Delegaeons 19 265.072.819 336.864.820ANE Adminisiraive Directorate 18 259187.622 243.225.696Road Fund Defegaons 19 3.578-530.821 2.759.162.432Ofce of Zambeze Bridge 20 - 2.501Municipaies - Scoth Region 22 93,058,746 148.037.512Municipalites- Central Region 23 70.372 280 83.749.776Municipalites - North Region 24 66,766.451 92.074,996

Estadas do Zambeze 148341. 111Maputo Sul 872.231.757GNPT 21 2.100.000

Rounding Difference 61

Other Expenses 25 - 876-023,295Exchange rate loss 26 15 881.480 6,707.878Surplus(delicit) (764.702659) 280.346365

7

FUNDO DE ESTRADA$

ANE ACCOUNTS



Notes 31-Dec-2014 31-Dec-2013

Assets 107.993124 156.599.054C sh

Bank 18 99.302483 155.387.634Receivables 18 8690.641 1.211.420

Liabilities 133.005 642538Shortterm payables 18 1330564538

Equity 107.860.119 155.956.516Opening bacance 18 155,956.516 143.221.235Previous year adustment 7 185182 67.800Surplusl(Deci) 18 (48 281.579) 12867.481

Total Equity and Liabilities 107.99124 156.599.054

8

FUNDO DE ESTRADAS

ANE ACCOUNTS

STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2014(Amounts expressed in Meticais]

Notes 2014 2013

Revenue 259.747.726 251.227.929Transfers from road find -State b4dget 18 259187.622 243.225696Income from putic lenders 18 413.968 293.200Otr inctne 18 146.135 97442Bank interest income 18 - -Ex change rae gains 15 1 7.611.591

Expenditure 30B.029.305 238.560.448Administraty e ex penses 18 211291.320 173.941.430C4a expenditre 18 94.343.557 64,181488Other expenes 25 104.901 437.530Exchange rae loss 26 289.428 -

Rounding differenceDeficit (48.281.579) 12.667.481,00

AL.

FUNDO DE ESTRADAS

PROVINCES ACCOUNTS (ANE & ROAD FUND DELEGATIONS)


(Amounts expressed in Meicais)

Notes 31-Dec-2014 31-Dec-2013ANE & FE ANE & FEProvinces Provinces

Aggregated Aggregated

Assets 297.309.535 200.222.490Cash 3 982.926 1458.670Bank 19 81-314627 146 584.469Receivables 19 215011982 52185.351

Total assets 297.309.535 200.228.490

Liabilities 65.824.684 68.577.050Other payales 19 - -

Short Term Payables 65.824,684 568T.050

Equity 231.484.50 131.651.437Opening balmnce 19 131-651 440 86.525,652Previous yea adusUnents 7 4,810.373 4.940.645(Defcitsurplus) 19 95.023.038 40.185.143

Total equity and liabilities 297.309.535 200.228.490

10

A'A A U

FUNDO DE ESTRADAS

PROVINCES ACCOUNTS (ANE & ROAD FUND DELEGATIONS)



Notes 2014 2013Provinces Provinces

Aggregated Aggregated

REVENUE 3.850.705.770 3.1D9947.770Transters from Road Fund 3.843.603.640 3. 09027.252Tender incare 19 4-581.477 4,427-296Other incoie 19 2.497.732 9.365.192Bank interest 19 22.921 137.030

EXPENDITURE 3.755.682732 3.069.771.627Administrative expenses 19 360761.882 390846994

Capita ex penditure 19 3.394.119.233 2.67622.303Oher expenses 19 801.617 2.302.330

Surplus/Deicit 95.023.038 40.185.143

11

FUNDO DE ESTRADAS

MUNICIPALITIES ACCOUNTS



Notes 31-Dec-2014 31-Dec-2013

Assets

Banks 58.695,492 42249.827Scutem regon 22 32-911813 9.869.637C entra regia 23 12.415.291 15.697,781Northern reion 24 13.368.388 16682-409

Receivables 26.707713 23.436.450Receivables - Southem region 22 13844.892 9.949.179Receivables - Central region 23 8 932427 7.447.365Recey ables - Northern region 24 3.930394 6.039 906

Total current assets 85.403.206 64,975.95

Liabilities 26.730.933 25,042.739Payables 22/23/24 26730-933 25.042.79

Equity 58.672273 40.643.538Opening balance 40.643536 22.311.974Previous year adjusrenls 7 699.387 - 2.439764,00Surolusl(deffit) 22123f24 17329350 20.771.328

Total Equity and Liabilities 85.403.206 65.686.277

12

AmA

FUNDO DE ESTRADAS

MUNICIPALITIES ACCOUNTS

STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER2014(Amounts expressed in Meticas)

Notes 2014 2013

REVENUE 230.223,665 323.864.986

Road Fund Transfers 230197,477 323,862.285South region 22 93,058748 148.037.512Certral region 23 70 372280 83,749.778Nort region 24 66-766.451 92074,996

Bank interest income -Other income 26.188 2-700

EXPENDITURE 212894315 303.093.658

Administrative Expenses 143008 1.146.878South regon 22 85.551 1.058.386cental region 23 35.279 46183North region 24 22.175 42.329

Capital Expenditure 212.751.309 301.946780South region 22 66.254.318 140.116 133Centl region 23 72583683 80-664.970North region 24 73913-308 81.165.677

Surplusl(Deficit) 17.329.350 20.771.328

13

A!k)

FUNDO DE ESTRADAS

CABINET OF ZAMBEZE BRIDGE PROJECT ACCOUNTS


(Amounts expressed n Meticais)

Notes 31-Dec-2014 31-Dec.2013

Assets 1.905 1.905Cash and bak 20 1.905Receivables 20

Total assets 1.905 1.905

Liabilities

Short term payables 20 -E-

Equity 1.905 1.905

Opening balace 20 1.905 1.905Previous Year Adustnent 20 -

Surpls/(Declt) -

Total equity and liabilities 1.905 1.905

14

FUNDO DE ESTRADA$

CABINET OF ZAMBEZE BRIDGE PROJECT ACCOUNTS


(Amounts expressed in Meticais]

Notes 2014 2013

REVENUE - Z500Transfers from Road Fund 20 - 2.500Road Fund d.rect pay men RPS) 20 - -Ofher Income

EXPENDITURE 2.5D0Administaive expenses 20 - 2.500

CaprW expenditure 20 - -

04her expenses 20 - -

Surplusl(Delicit)

15

FUNDO DE ESTRADAS

GNPT - OFFICE OF NEW BRIDGE OF TETE ACCOUNTS



Notes 31-Dec-2D14 31-Dec2013

Assets 15.29161

Cash and bank 21 15.629.1

Rec6vabes 21 -6-

Total assets 15,629.161

Liabilities

Short term payables 21 [II

Equity 15.629.161Opening bance 21 5.000.000

Previous year adjustrent 21 -

SufPlusf(1ePcil) 10.629.161

Total equity and liabilIties 15.629.161

16

FUNDO DE ESTRADAS

GNPT - OFFICE OF NEW BRIDGE OF TETE ACCOUNTS

STATEMENT OF INCOME AND EXPENDITURE FOR THE YEAR ENDED AT 31 DECEMBER 2014(Amounts expressed in Melicais)

Notes 2014 2013

REVENUE 42.290.418Transfers from Road Fund 21 2100.000Road Fund drect paymenoIRPS) 21 -Other Income 40.190.418

EXPENDITURE 31.661,257Adminisratve expenses 21 31,424.661C ita expenditre 21 236597Other expenses 21 .

Surplusl(Deficit) 10.629.161

17

FUNDO DE ESTRADAS

NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2014


1. INTRODUCTION

The Road Fund functioning aims to finance the system of roads in Mozambique, namely construction, rehabilitation and

maintenance. The Road Fund received funds from various sources, namely:

- State Budget

- Own revenue as transit fees, bridge tolls and fuel levy.

- Foreign financing (grants and loans), during 2014:

S ADIB (African Development Bank) - Montepuez - Lichinga Road Upgrading Project, supplementary Loan to finance

the Montepuez-Lichinga, Road Project and Multinational Nacala Road Corridor Project.

* ASDI (Swedish International Development Agency) - Support to Decentralize Management of Regional Roads -

Grant 200612012.

* DANIDA (Danish International Development Agency) - Road Sector Budget support for District roads.

* IDB (Islamic Development Bank) - Road Rehabilitation between Gurud and Magige in Zambezia Province.

* IFAD (International Fund for Agricultural Development) - Food Production Action Plan (Pro-Papa) and Rural Markets

Promotion Programme in Maputo, Niassa and Cabo Delgado Provinces - PROMER.

. JICA (Japan International Cooperation Agency)--Montepuez-Lichinga Road Upgrading Project and Multinational

Nacala Road Corridor Project and Construction Works of 13 Bridges, between fle and Cuamba

. KfW(German government-owned development bank) - Road Construction and Maintenance in Inhambane Province.

* Korea Eximbank (The Export-Import Bank of Korea) -- Multinational Nacala Road Corridor Project.

* Portuguese Government-Construction and Road Rehabilitation : Macomia - Oasse, Canigado - Chicualacuala,

Chimoo -Espungabera and Macimboa da Praia - Namoto; Construction of the new Tete Bridge.

UE (European Union) - Feasibility and Engineering Design for Milange-Mocuba Road in Zambezia Province;

Upgrading of Milange-Mocuba Road; Beira-Machipanda Road design Study; Road Sector Budget Support

* World Bank --RBMMP -APLII (Adaptive Program Lending il).

. China EximBank - Beira Machipanda Rehabilitation Road

* OPEC- Road Rehabilitation to Rural Market Access - PROPESCA.

1B

FUNDO DE ESTRADAS


(Amounts expressed in Melicais)

The Road Fund provided funds to the following entities:

-GNPT - Cab:net of Nova Ponte de Tete

- ANE Headquarters - National Administration of Roads.

- ANE Delegations.

- Municipalities

- Government of Districts

- FE Delegations

- Empresa de Desenvolvimento de Maputo Sul, EP

2. MAIN ACCOUNTING POLICIES

2J. Basis of preparation

The financial statements are prepared on the modified cash receipts and disbursements basis of accounting. Under the

cash receipts and disbursements basis of accounting, revenue is recorded when received in cash and expenditures are

assigned to the period in which cash payment is made. This basis of accounting was modified to include accounts

receivables (Advance payments made to our Suppliers) and payables (Suppliers Retentions made by us) as at 31

December 2014 and is consistent with the prior year. These financial statements reflect the aggregated transactions within

the Road Sector.

2.2. Functional currency

The functional currency of Fundo de Estradas is the Metical, which is also the presentation currency.

23 Foreign currencies

Transactions in foreign currencies are translated at the rate of exchange ruling at the transaction date. Monetary assets and

liabilities in foreign currencies at the balance sheet date are translated at the rates of exchange ruling at the balance sheet

date. Any foreign exchange differences arising on such translation are recognised in the income statement in the period in

which they arise.

2.4. Capital expenditure

Capital assets are expensed on acquisition. However they are controlled through a fixed assets register. Expenditure on

road maintenance and rehabilitation is not capitalized, since the roads and the land on which they are built are property of

the Government of Mozambique.

19

A lk

FUNDO DE ESTRADAS


(Amounts expressed in Meficais)

2.5. Revenue

Revenue represents the resources originated by normal activity of the Road Fund, such as transit fees and bridge tolls; the

support from State Budget and also foreign Grants and Loans supported by the Mozambican Treasury. Revenue is

recognised in the income statement on receipt of the funds into the entity's bank accounts.

2.6. Expenditure

Expenditure represents operating costs covered by internally generated resources from the Road Sector as well as

Government support, grants and loans.

2.7. Advances to implementing agencies

Receivable balances include advances and expenses not yet justified by year-end as well as the retentions made on the

contracts awarded and other transactions within the Road Sector accounts.

3. CASH AND BANK BALANCES:

3.1 Cash

Cash is analysed as follows:

31-Dec-2014 31-Dec-2013CASH ON HANDS

Road Fund Headquarter 1.656 15.272C aia 76.480 58,480

GuiA 18600 10.250JIha de M ogambique 5430 4.230Ponte de Lugela 2430 8.020Rio Save 361.480 273,460Rio Zambeze-Tete - 36.000Rio tJmpopo -Xai-Xai 60290 81.220M ilange 52.320 23.480M aputo 239.016 135.010Machipanda 284.490 -

Tete 1.163.493 209.087

Sub-Total 2.255.684 854.509FE Nampula - 26.545ANE Tele 749.215 449,199ANE Inhambane 233.711 749.215

AN E Cabo Degado - 233.711Sub-Total 982.926 1.458.670TOTAL CASH 3.238.610 2.313.179

20

FUNDO DE ESTRADA$


(Amounls expressed in Meficais)

3.2 Banks

Banks are analysed as follows:

31-Dec-2014 31-Dec-2013

Banks - Road Fund Headquarter 3.2.1 1.363 657.279 934036,027

Banks - lmpiemen6ng Agencies 3.2.2 254.943,668 344,223.835

1.618.590.947 1.278.259.862

21

FUNDO DE EST RADAS


(Amaunts expressed in Meticais)

3.2.1 Banks - Road Fund Headquarter

Bank name Account No. Currency Amount MNec-214 3 N2013

BancodeM;amique 4197601001 EUR - --- Banco de Mçambique 426i1009 EUR 89949 3443254 3.697.821

BCl 565607110002 EUR - 1 1.234611BCl 4471622510301 EUR 43.869 1.743 369 31BC1 528 727 710 002 EUR 31.922 1.268 574 1.292456Strdard Bark 113 197824 100 8 EUR 8.295 329658 4.101544Stidard Bank 1131306811003 EUR - 3 3Sandard Bank 113 157320 100 1 GBP 961.325 48.921812 415154Standard Bank Financial Applicaton GBP 46.863 5XBaro de Moçamque 4158513001 MZNA 25.202.259 28.525640Banco de Moambique 4201513013 MZN - 14 148.347 14.148347Banco de Moçambique 4697513CO3 MZN 720301 880 678BCI 447162251O02 MZN 3.643.440Be0 528727710 603 MZNBel 343411051 MZN 32.959.910 4 430 93Bel 106 919110602 MZA - 374.838 374 8Bl 1198 532110001 MZN 29987 29.987BCl 19775582101 M2N - 1.630.765 3344.166BCl 752852901001 MZN - 65515 63.282.845

-B 34341105102 Mi2N - 161 423 513BCI 4471622510277 MZN - - 2644.149BlM 88295318 MZN - 8417031 15.148.020BlM 995 803 MZN - 5271.394 7.882.130BlM 13225951 MZN - 16999232 2530.700BIM 8939133 10 M2N - 6 010.383BIM 91028681 MZN 41 828.063 5717.283BIM 177581975 MZN - 659.73 847.187MozaBanco 23758421D01 MN- 1.384.5 -Standard bank 1131091691058 MZN 43 95.353 6502.935SLandardbank 1131091691052 MA --

Stendard bank Financial Applicabon MN - 3000.(0Banco de Mannbique 429801006 USD 9145 30 285 669 65.164251Banco de Moarnbque 4261601007 USD 4.665342 146 958 270 140642143Banco de M çambque 485601008 USD 1499993 47.249791Banco de Mcarnbque 489541000 USD 14 072.147 443272.644BancodeMcçambrque 48966310% USD 1.097.495 34571 -3BlM 72136767 USD) 10.657 348478 140985141BlM 2X)9380 USD 681.597 22268223 92702.165BSM 21627606 USD 792973 25.930214 23.2.578BlM 20441102 USD 102.7B9 3361212 3 015.828Stardard Bank 10B 162515 1019 USE - - 9114.542Standard Bank 113109169 100 1 USD 5.931.973 193.975 525 185 425 œ8StandardBank 113-1057131005 USD - -

StandardBank 113-1057111004 USD -TOTAL 1.363.W.279 934.036.027

22

FUNDO DE ESTRADAS



3.2.2 Banks - Implementing Agencies

31-Dec-2014 31-Dec-2013

Description

ANE - Delegations 48,30.832 84437.708Mapub Prov ince 6-976.468 6.249.228Gaza P rovirice 4.546.528 2.317281lrihambane Province 2.225.292 1.676.212Sofäla Provnce 2.112.047 2.562.948Manica Prov Mce 3.881.119 4.217.931Zambézia Prov ince 5.664.272 6.046.156Tete Prov ince 1.916.285 6.477.718Nampula Prov ince 7.335.600 5.886.319C abo Delgado Prov ince 7.414.407 5.991,924Niassa Province 9.758.813 43.011.991

FE - Delegabons 32.483.796 62146.761

Mapu Province 931.880 1.217.209Gaza Province 3.305.267 898.311Inhambane Province 1.109.467 1.908.958Soaa Provrince 549.870 11.460.779Manica Prov ince 733.078 1.954.828Zambézia P ov nce 4.001.322 4.632.511Tele Prov ince 5.363.985 3.991.808Nampula Prov ince 6.178 688 17.790.240C abM Delgado Prov ince 7.506.603 17.976581Niassa Province 2.803.634 315.536

Municipalites 58.695.492 42249.827SOUTH REGION 32.911.813 9.859.537CENTRAL REGION 12.415.291 15.697.781NOR¯H REGION 13.368.388 16.682.409

ANE SEDE 99.302.483 155.387,634

GPPZ (cash and bank) 1,905 1.905MOPH-GAS -

GNPT (cash and bank) 16.629.161 -

TOTAL 254.943.668 344.223.835

23

FUNDO DE ESTRADAS


(Amounts epressed in Melicais)

4. RECEIVABLES

Receivable balances include advances mainly to the suppliers, Estradas do Zambeze, and payments made on behalf of the donors,

not yet reimbursed until year-end, and other transactions within the Road Sector accounts and detailed as follows:

31-Dec-2014 31-Dec-2013

Road Fund -Headquarter 5.838.611,417 4.755.811.867ANE -Headquarter 8.690 641 919.517

AN E & RF Delegatons 215.011 982 52,181.685Municipalites 26.707.713 23 436450

GPPZ -

GNPT

Aggregated receivable balances 6.089.021.753 4.832.349.519

5. BANK BORROWINGS

Fundo de Estradas received loans from the following financial entities:

31-Dec-2014 31-Dec-2013

Millennium BIM-sindicato 1 550.669.201 615.313.619BCI-Siadica 1 561.150.357 623216-376

Millennium BIM 3 250-000.000 -BCIMZN C/3434110510002-Pag.Empreit 4 1.100.000.000CGD-Lirnha Credito de 400 Milh6es 2 3,974.848.686 3.379.370.402

6.436.668.244 4.617.900.397

1. BCI and Miliennium BIM to finance the following activities:

(i) Rehabilitation of the Vanduzi-Changara road in Tete Province;

(ii) Nanacura-Ligonha River road in Zambezia Province, and

(iii) Construction of 3 bridges in Manica Province.

These loans are payable within twelve years and have as guarantee a comfort letter issued by the Government of Mozambique -

Min,stry of Finance.

2. CGD - Caixa Geral de Depositas to finance the following activities:

(i) New Tete Bridge;

The loan is payable within thirty years and has a sovereign repayment guarantee issued by the Government of Mozambique - Ministry

of Finance.

24

FUNDO DE ESTRADAS

NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2014(Amounts expressed in Meticais)

3. BIM-Loan in the amount of 250.000.000,00Mt, contracted at 27 11.2014, payable in 90 days at the fixed rate of 12%, for payingseveral contractors, this loan does not have any guarantee.

4. BCI - Loan in the amount of 1.100,000.000,00 Mt, contracted at 21 December 2014, payable in 10 years with the purpose of payingthe contractors at exchange rate of 9.25%, This loan has as guarantee a comfort letter issued by the Government of Mozambique -Min:stry of Finance.

6. SHORT TERM PAYABLES

31-Dec-2014 31-Dec-2013

Road Fund -Headquarter 1.340.519.706 876.928.768ANE - Headquarter 133.005 642.538ANE & RF Delegatons 65.824684 68.281,485Municipalties 26.730-933 25,042,739

1.433.208.328 970.895.530

7. PREVIOUS YEAR ADJUSTMENTS

31-Dec-2014 31-Dec-2013

ROAD FUND (3.834.149) (14.876.128)Correcton of the employees account 15.119 (131,070)Regularization of FED project balances (477826) (5.315.988)Paymentof previous years taxes - (863.068)Regularization of ASDI project balances (6.738.203)Amount wrongly transterred from Tete Municipality 2.031.000Vat on suplies invoices - (8.563.002)Public tender income amount left by mistake in 2013 on pay ables 1.332.850

Other 2.912 (3.000)OTHER 5.594.942 2577.681ANE 185.182 67.800ANE & RF DELEGA11CNS 4.810.373 4.949.645Municipalites 699.3B7 (2.439764)

1.860.793 (12298.447)

25

AIAk

FUNDO DE ESTRADAS



8. SURPLUSl(DEFICIT)

In light with the cash basis principle, the consolidated deficit in the amount of 690.002.689 Meticais refers to the fact that theexpenditures executed during the year surpassed the collected revenues during the year. The exceeded amount of the expendituresr

when compared to the revenues, was made with the beginning balance at the Banks accounts, which had an amount of 1.278,259.862Meticals. Furthermore, during the year, there were internal bank borrowings in the total amount of 1.360.000.000 Meticais (comprisedof 1.100.000 000 Meticais from BCI and 25000000 Meticals from Millennium BIM) to support the activities of Fundo de Estradas.

9. GOVERNMENT INVESTMENT FUNDS- STATE BUDGET

This amount relates to the total transfers received during the current year from the State budget for investment purposes.

2014 2013

Received from State Budget 6.837.880.155 5.101.761.567

Gov emmentInvestmentFurids -S tat Budget 6.837,88i155 5.101:761.567

10. BORDER TAXES

2014 2013

399.459.895 245.906.810

Beira 17-520,010 15-342-280Manica (Machipanda) 134-617.003 110-356.892N iassa (M adimba) 111048 175.660Zambezia (Milange) 9,516.149 4720.465Mapuoo 8.044.694 13.190.367TeLe 229.650,992 102.037.936Treasury Account (CU1 - 83.210

11. FUEL LEVY

2014 2013

Fuel levy 4.198.575.076 3.734.642.358

Received dunng the year 4198.575.076 3 734642358

FUNDO DE ESTRADAS


(Amounts eypressed in Melicais)

12. GRANTS

DONOR! ORIGNALCLRRENCY 31.122014

LOANER USD EUR MWN ZAR SEK Yene MENASDI - - - - 2012148 - 77BAD 5764514 8032.128 614 193 - - M 32789647BID - - - 12.144171DANIDA - - 1841825 . - 184182015

CHINA 124951193 - - - - - 4168371773UE - 1790305n 4882401 - - - 787101397

J'CA 21963.232 4.9009ZW 34874 351 68351 - 1122440000 1396.334 13KM 398037 450977 - - - 30-904370Korea 4 55 1 - - - - 17434 274Po- r158o75 - - - - 25373605

PC - 88.09424 -- 8609424OPEC - - 3410 - -34 WA 3MIDA- WE 20317662 - - - 625.571 27

Totld 179249.7958 4.89318 1790.39 6&351 Z01214a 1,122440.00 14681.580 979

The amounts presented for AfDB, JICA, KfW, Korela, Portugal, CHINA and IDA - World Bank are loans made to the Mozambican

Government which interests are supported by the Treasury.

ORIGI NAL CURRENCY 31.1201

LOARER USD EUR GBP 1ZN 7AR SEK MN

ASDI 8 358543 -M- - - 331755 253 014 6AIDB 7838725 2.175 84 459a889 872. -M 725.841.760BID 1168296 - 3 642936DANEDA -- 170454553 - 170.454553LJE - . 02854425JICA 1480630 179W3039 24540018 20635WS 5.916147KVJ 720 44 489. . 31 43769WKoida 4215520 460977 15180877Pauiga - - -3 -- 429 629714

Fundo Cctman - S3M828785 - 91704399 - 51704.39IDA -W 10135715 - 10 0.285 - 522047563TotW 53.262475 9893.518 p32.165144 Z907.5W6 321.0 5.73.425

13. BANK INTEREST INCOME

2014 2013

3.488.288 2592.666Road Fund Headquarters 3.465.367 2.455.636ANE Headquarters - -

ANE+RF Delegatons 22.921 137.030M unicipalities - -

27

FUNDO DE ESTRADAS


(Amounts expressed in Melicais

14. BRIDGE TOOLS

2014 2013

69.622.460 54.2s5.443

Umpopo River -Xai-xai 16.306.670 14659-503Save River 3.677.540 3.584520Zambeze Rrer- Tete Province

Zambeze River- Armando Guebuza(Caia) 46.455.760 33,250.330liha de M oambque 617.870 520.900Umpopo River - Guija 2.167.520 1.688.820Lugela 397.100 361.370

15. EXCHANGE RATE GAIN

Accounted in WN Accounting Balance Exchange Accounting Bafance ExUange RateBank Account on the dateof USo Rate MZN Gain

Transaction 31-12-2014 31-12-2014 31-12-2014BIM USD20441102 3.115.599 102.789 33 3,351,212 245.612BIM USD2Cm 9m80 131697T067 681.597 33 22288,223 8.591157SB USD1131091691001 170.910.078 5.931.973 33 193.975.525 23,065.447BIM USD 21627606 23.273.675 792973 33 25,930214 2.656.538BIM USD 72136767 312.768 10.657 33 348.478 35.710BM USD 004261601007 138.160.981 4.665342 3 146.958,270 8.797.2888M USD004298601006 28 608.223 961.450 32 30,285.669 1.677.446BM USD4885601008 46.839.799 1.499.993 32 47.249.791 1.409.992EM USD C/4895601000 443272-644 14.07Z 7 32 443.272.544BM USDC/496601008 34.571.093 1.097.495 32 34.571.93-

Sub-Total 4&4791i0Accounted in IN. Accounting Balance Exchange Accounting Balance Exhange Rate

Bank Account on the date of GSP Rate MZN GainTransaction 31-12-2014 31-12-2014 31-12-2014

SGB P 1131573201001 47,269M.22 961.325 51 48 1812 1.652.587Sub-Total 1.652.5P

Accounted in MZ Accounting Balance Exchange Accounting Balance Exhange RateBankAccount on the date of E Rate MZN Gain

Transaction 31-12-2013 31-12-2013 31-12-2013BCI EURO 4471622510001 (91.283.165) 43.869 40 1.743.369 93.02534

Sub-Total 93.026.534

Exchange rale Uas on Mactoris during year 39935.949

Road FundTotal 161.094.261

ANETotal

Aggregated RF+ ANE 181.094.261

28

FUNDO DE ESTRADAS



16. OTHER INCOME

2014 2013Demripfon

Aggregated balance 66.229.577 12769.258FE Headquarters (1) 23.369,104 3-308848AN E HeadquaLers 146.135 97.442GPPZGNPT 40.190.418South Region Muncipa!ies 8C entral Regon M unicipalities -

North Region Municipalities 26.180 2.700ANE Delegations 2.497.732 3.670.463FE Odeations 1 5.689.805

17. ROAD FUND HEADQUARTER

2014 2013

Administrative Expenses 2B9.251.297 596.295.040

Staff Expenses 98.037.933 75.114.834Goods & Services 191.213364 521.180.206

29

FUNDO DE ESTRADAS


(Amounts expressed in Meticais

18. ANE (ADMINISTRATIVE DIRECTORATE)

2014 2013

Assets 107.993.124 156.599.054Bank 99302483 155.387.634

Receivables 8.690.641 1.211.420

107.993.124 156.599.054

Liabilities 133,005 642.538Payables 133005 642.538

Equity 107.860.119 155.956.516Opening balance 155.956.516 143,221,235Previous Year Adjustments 185.182 67.800DeficilSurplus (48.281.579) 12.667.481Rounding difference - -

Equity and liabilities 107.993.124 156.599.054

Revenue 259.747.726 251.227.929Road Fund allocatons -State Budget (FE) 259187.6221 243225,696

Other 560.104 8.002.233Other Income 146135 97.442Tender income 413.968 293200Bank interesi income - -

Exchange rate gain 1 7.611.591

Expenditure 308.029.05 238.560.448

Administrative expenses 213.291.320 173941.430Personnel expenses 174.126.925 137-868.013Third party suppliers 11.406.381 9.539.008Third party services 27.758,014 26.534409

Capital expenditure 94.343.857 64.181.488Housing 82-091.413 57.429 649Machinery and equipment 12252.244 6.751.840Roads rehatilitaton - -

Other Expenses 104.901 437.530Exchange rate loss 289.428

Rounding Difference

Surplusl(Deficit) (47.992.151) 12.667.481

〕”ha&&

FUN DO DE ESTRADAS


(Amovnts expressed in Melicais)

19. PROVINCES ACCOUNTS (ANEWE DELEGATIONS) - 2

Tete Z~ a cabo 0ý19,1d0ANE FE ANE FE ANE FE ANE FE ANE FE

Asseýs 1.97U15 U53.431 6.221A33 33.326.522 7.335,MO Z.184.316 24.H5.873 26.243,M 7.%5.11B 7.834.4nCýIsh on hams - - - - - m 711Cash at barks 1.9161,85 5363985 5 W4 272 4001322 7 335 6 178 6B8 9758813 2 W3634 7414401 7.5066ffiReceýýffiýs 55530 3 E& 446 5% 7ffi 29325200 20 C05 627 151D7059 2344002% 17 CW W 876

Equity x d l i ab i liti E!s 1.971.815 9,0M.431 U21,038 33.326,5n 7.335.6W U.lm-316 24.M873 26.243.IM 7,665.118 7.8X479opering Bdame (7994931) 3-468 sw 2244.519 19 M 818 4 CJ34 099 16069047 37644214 (4.845-SC) 5 11%12 d' 53Pfev " YL,3 A ",~ 3345 02164) 3 w - 66823 001 1197 (407440) 4 ý04 767shGd IýIm p"ly.-dw 9369834 3472%8 3- 229 05ý 5 851 Tý8 5137011 2 990 0ý3 2465718 a637 157 1 6W 0% 1 163 Gq7

593%7 2144721 743 ý1,ý 82407% (1.9ý2.333) 7 125- 2C-6 (15145.556) 228595% 975730 (18 495 7"

Revwtiu 30.117.322 31CL501728 31551.5n 424,90&W 41,003.382 409.026,174 24.659.676 298,95U51 212G8.975 4u362.a29Road Fund tarkskýrs 29908415 310 50z 728 30 545 992 424 9W 64a 39 M. 413 4ffi 02ý CQ0 23.9W.512 29ý 958 951 23175925 453362829Tffdff ~ e 126 OM - i. i C13 om - BM sw - nooo -BaRk ~ ý1 l mo" 274Cdierinciý" 82 1907 812-5ffi 1094 777 23664 10 ow

Fxperiditure 29.521755 3M.M007 31,W7,964 416.667.882 4Z%5.715 401.900,967 39,805.232 275.ffig,395 U293,M 469.8m,5%A~ ~ o " mw 28 Wl 449 5 618 W) 31807%4 14025842 42-967725 fi 712 613 3B934 370 6,733.804 22293245 5 245 234C ýptå ex p"Itue 6998r9 302739127 - 402.642.M 7-9W Yýý 188 354 fiM 861 2% 365 SW - 464 613 3ý6

202407 1 1 6Surp4ild(Widt) 993.567 Z 144.721 743.614 &240.766 (1.962,333) 7.125.2% (1 ,ý 14 5, 5%) 2 2. 9 975.7.M ý%,495.76ý

32

FUNDO DE ESTRADAS


(Amounts expressed in Meicais]

19. PROVINCES ACCOUNTS (ANEIFE DELEGATIONS)- 3

Total 2014 Total Aggregated Inter-Delegaflons TotalTransactions

ANE FE ANE + FE 2014 ANE +FE 2013 ANE+ FE ANE + FE 2014 ANE + FE 2013

Assets 66.701.523 230.609.439 297.310,963 200.228.490 (1-428) 297.309.535 200.224.825Cash on hands 982.926 - 982.926 1.458.670 - 982.926 1.458,670Cash at banks 48.830.832 32.483.796 81.314.627 146.584.469 - 81.314.627 146.584.469Recdvables 16.887.766 198.125.644 215.013.410 52,185.351 (1.428) 215.011.982 52.181.686

Equity and liabilities 66.701.523 230.609.439 297.310.963 200.228.490 1.428 297.309.535 200.224.825Opening Balence 50.365.089 81.286.351 131.651.440 86.525.652 - 131.651.440 86.525.652Previous Year Adjustments 147.066 4.663.307 4.810.373 4.949,645 - 4.810.373 4.949.645Short term Pay ables 32.613.297 33212.816 65.826.112 928,633 (1.428) 65.824.684 928.633Other pay atbes - - - 67.648.417 - - 67.644.752Surpus/(Deficit) (16.423.928) 111.446.966 95023.038 40.176.143 - 95.023.038 40.176.143

Revenue 272.147.027 3.578.558.743 3.850.705.770 3.109.951.845 3.850.705.770 3.109.951.846Road Fund transfers 265.072.819 3.578.530.821 3.843.603.640 3-096027,252 - 3.843.603.640 3.096.027.252Tender Income 4.576.477 5.000 4.581.477 4.427.296 - 4.581.477 4.427.296Bank Interest Income - 22.921 22.921 137.030 - 22.921 137.030other income 2497.732 1 2.497.732 9.360.268 - 2.497.732 9.360.268

Expenditure 288.570.955 3.467.111.776 3.755.682.732 3.089.775.703 3.755.682.732 3.069.775.702Adm nistratve expenses 285.286.540 75.475.342 360.761.882 390.846.994 - 360.761.882 390.846.994Capital expenditure 2.487.807 3.391.631.426 3.394.119.233 2.676.622.303 - 3.394.119.233 2.676.622.303Other expenses 796.609 5.008 801.617 2.302,406 - 801.617 2.302-406

Surplusf(Deficit) (16.423.928) 111.446.966 95.023.038 40.185.143 - 95.023.038 40.176.144

33

AXA

FUNDO DE ESTRADAS


(Amounts expressed in Meticeis)

20. OFFICE OF ZAMBEZE BRIDGE (GPPZ)

2014 2013

Assets 1.905 1.905Cash and bank 1905 1905Receivables .

Total assets 1.905 1.905

Liabilities -

Shortierm payables [ -

Equity 1.905 1.905Opening baiance 1.905 1.905Previous Year Adjustment - -

Surpus/(DeOcit)

Total equity and liabilities 1.905 1.905

2014 2013

REVENUE 2.500Transfrs from Road Fund 2.500Road Fund direct payment(IRPS)Other Income

EXPENDITURE 2.500Administrative expenses 2500Capia expenditure -

Other expenses-

Surplusf(Deficit)

34

FUNDO DE ESTRADAS


(Amounts expressed in Meficais)

21. GNPT - OFFICE OF NEW BRIDGE OF TETE

2014 2013

Assets 15.629.161Cash and bank 15,629.161Receivables - -

Total assets 1&629.161

Liabilities -

Short term payabtes

Equity 15.629.161Opening balanceAdditons of the year 5.000.000Surplus/(Dicit) 10,629,161

Total equity and liabilities 15.629.161

2014 2013

REVENUE 42.290.418Transfers from Road Fund 2.100.000Road Fund direct payment(IRPS) -

Other Income 40,190-418

EXPENDITURE 31.661.257Administative expenses 31.424.661Capitd expenditure 236 597Other expenses -

Surplusl{Deficit) 10.629161

The additions of the year in Equity account, refers to the beginning assets (banks) owned by GNPT at the beginning of 2014.

35

⋯‘’升 ”

FUNDO DE ESTRADAS


(Arnounts expressed in Melicais)

23, MUNICIPALITIES ACCOUNTS (CENTRAL REGION - 1)

Uwa TeteUrj Dondo vxlGmeu Nbamatwda Goronpa ohlmolo Manlea catandico Swssundenga Undola Tett moöm _lämayåbué Uppe

AssEb 36,627 4,9% 1,531.3m 15 IN.412 målsm 2a151 3.803.m 21m 5,339 1.4&9mGmbmv,aldsc--håbaråsRecåvåk-s

Equti and fläffiffes 36.627 te% 1.531.336 15 265.881 sn.175 3.801m0~ Bågm (744 01742Q 155 6m - og Dm 178326 (1a974) 3415-819 9 25D 275 2 59 b 221)Fre~ Yea A* - ýý4.0) - - -ýý Vm Pay &*4 M.6i3 4171368 30 148.729 430.115 4758 50-0 462.734 3-100 1 m 136-n

50X 4,7ffi 4.701 Psý 5 01 zx (58731) (3.314-1241 730 1 Gi 2.516 4339 1.25RA7

Revenue UN 5.000 1m1505 z561.903 5-m 5,* 4.997.3ä 4,48,9U Z9911M 9,730.400 20.0W 3.923.511 4.243,941ROM FÄ ýnås 5.000 2.X.505 6090 sn 4.997,33 4446932 15a188 9-73040 370 om 4.243.941

Gå muneffiff

apenäärm 224 104119 2.561.98 1914 5.05.587 7.761.056 11.629.312 9.01% u710 3.919.172 21m29~åke EXPm5 IB5 8707 F--- -40-1 3 2C 4ý5 r_~77773 4345C0~okepmn

SurplumDdidt) UB 4.776 4.701 (lq IQ88 (SL261) 0.314.124) P.0x124) 731101 1516 4.339 1.25937

37

)1 14 1l 1 )

FUNDO DE ESTRADAS

NOTES TO THE FINANCIAL STATEMENT AS AT 31 DECEMBER 2014(Amounts expressed in Meticais)

23. MUNICIPALITIES ACCOUNTS (CENTRAL REGION - 2)

Zambezia TotalQueimane Mocuba Milange Mag. Costa Gurue Alto Molocue 2014 2013

Assets 4.793.058 2.925.500 4.605.873 1.324 2743 892.727 21.347.718 23.145.14Cash on hands - - -Cash at banks 268.950 2 925.500 4605873 1324 2.743 892.727 12415291 15697.781Receivables 4.524.108 - - - . - 8932.427 7.447.365

Equity and liabilities 4.793.058 2.925500 4.605.873 1,324 2.743 892.727 21.347.718 23.145.146Opening Balance 4.564.412 (464 221) (14.102) - (397.191) (295,523) 15301-340 6736.921Previous Year Adjustments - - - - - - (64628) 5-525792Short term Payables 335.946 629.127 15.050 2.200 398 240 293.500 8.357688 7.843.807Olher payables . - -Surlus/(Deficit) (108.300) 2.760.595 4.604.925 (876) 1.693 894.749 (2-246.682) 3.038.626

Revenue 12.194.232 6.095.117 4.900.921 4.099.818 5.000 8.141.586 70.372.280 83.749.779Road Fund transfers 12.194.232 6.095.117 4.900921 4.099.818 5.000 8.141 586 70.372.280 83-749.776Tender Income - - - - - . -Bank Interest Income - - - - .

other income - - - . - - 0

Expenditure 1Z302.532 3.334.522 295.996 4.100.694 3.307 7.246.837 72.618.962 80.711.153Administratve expenses 224 2,709 75 876 3.307 - 35.279 46.183Caplal expenditure 12-302.308 3331.813 295921 4.099.818 - 7.246.837 72 583,683 80.664.970Other ex penses I -- - - 0

Surplusl(Deficit) (108.300) 2.760.595 4.604.925 (876) 1.693 894.749 (2246.582) 3.0381626

38

〕”計 ”

-J&[, 4。”

FUNDO DE ESTRADAS


(Arnounts egpressed in Melicais)

25. OTHER FXPENSES

2014 2013

W.518 878.763.165FE Headquarters - 876,023.295AN E. Headquarters 104-901 437.630C-PPZAN E Delegatons 796609 2302.318FE Ddegaiiops 5,008 12

26. EXCHANGE RATE LOSSES

This amount arises from the translation of bank account balances in foreign currencies to MZN at the exchange rate of Banco de

Mo @ mbi queJB C I rul ing a t 31 Decern be r 2014

Details per Bank Account and Currency are the following:

Accounted in MZN Accounting Balance Exchange Accounting Balance Exhange RateBan k Acco n n t on Uie date of USD Rate MzN Gain

Transaction 31-12-MA4 31-12-2014 31-12-2014SS USQ 1081625151019 89,765 0 _331 0 (99.765)

Sub-Total (89,765)1

Accounted in MZN Accounting Balante Exchange Accounting Balance Exhange RateBankAcxoLtnt an th a date of f Rate MZN Gain

Transacdon 31-IZ2013 31-12-2013 31.12-21113B C I EU R 528727710 002 1,292.510 31-922 40 1-268.574 (23937)BC I EU R 56569711OW2 9B 794 0 40i 1 (98,793)SB EUR 1131978241OD8 637-21)71 8,2951 40 329658 (307-M9)13 M rz U R W426060 1 OW 3697-8211 899491 381 3443264 (254.557)SB EUR 1131306811003 31 01 401 3 (a)

Sub-ToWl (68CSX)

E x ChaNe ale Uss on tran , aclions dudN the Y ear

Road FundTotal J15.681,490)

Accounted In MZN Accounting Balance Exchange Accounting Balance Exhange RateBank Account on the date of fi Rate WN Gain

Transaction 31-12-2014 31-12-2014 31-12-2014BIM 246985572 95-349769 2.392 358: 4GI 95.072 321 (277448)

Sub-Total (277.448)

Accounted in MZN Accounting Balance Exchange Accounting Balance: Exhange RateBank Arm unt on flie date of USD Rate UZN Gain

Trans tction 31-12-2014 31-12-2014 31-12-2014BIM 21441075 3869.677 117972 33 3.857 69F (I 1980)

Sub-Total (11.95D)

ANE Total (289.428)

Consolidated RIF 4. ANE (16.170.WB)

41

As

FUNDO DE ESTRADAS


(Amounts expressed in Mletcais]

27. DONORS DfRECT PAYMENTS

During 2014 Fundo de Estradas benefited from direct payments made by donors for rehabilitation of roads, bridge construction and other activities as detaied below:

EuropeanCommison KFW BAD BID JCA Portugal Koria China TolU

Descripton mZN mZN mZN MZN MZN mZN MZN MZN mZN

Revenue

Dsed w3t2399 30937 0 632.789.il 12.144171 1.334. 139 1132.845281 il484274 4.168.311.773 10. 46E651

738238.9 3194.370 3789.647 12,144171 1.A VI334. 3.13841281 174834 4.181371.13 10,28462.651

Expenses

Consulcy 21.135.681 18546,892 45A80.013 197171 19611.183 84.35110 5725716 254883.42Rehahimn 71l.173.314 1351.479 446.814.701 %94 1.O2T9.30 3048.511 174.834.274 4.111.119.1 9.543.134.31

Reaion of BNge - 140.170.933 3471655 - 48844.589

71238,9 30.904,370 63.789.47 12144171 1.,334139 3.132845281 174834.274 4168.311713 10,28146651

42

FUNDO DE ESTRADAS


(Amounts expressed in Meicais)

28. EVENTS AFTER THE BALANCE SHEET DATE

After the reporting perod, until the date on which the financial statements were authorised for issuance, there have been no other

favourable or unfavourable events for FUNDO DE ESTRADAS that affect these financial statements or require disclosure therein.

43

world bank document · 2020. 8. 7. · gnpt 21 2.100.000 rounding difference 61 other expenses 25...

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