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1
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2
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3
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4
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5
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6
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7
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8
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9
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10
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11
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12
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- Institutional charges towards meeting of expenses relating to carrying
out monitoring work of the project, meeting office expenses involved in
coordination work, electricity charges, water charges, telephone
charges, audit fee for audit of the project and other institutional
services being provided by the institutions for running the project.
- Admissible at 10% of the revenue
expenditure for Lead Centre
- 5% for other partners
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13
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14
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- Sanctions of the sub-projects will comprise:
- Year-wise and Head-wise budgetary provisions
- Approved equipments/items
- Approved manpower (Contractual)
- Consultancies, foreign travels, other overhead etc.
- Bi-annually funds to be released on specific demand from spending
units.
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15
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16
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- Electronic transfer of funds: direct, via RTGS enabled bank branches,
Demand Draft
- Reimbursement of Expenditure up to Rs. 5 lakh towards project
preparation activities for the sanctioned project.
- First installment as mobilization advance – 50% of revenue and 100 % of
capital expenditure of the 1st Year budget after signing the
MoU/agreement
- Six monthly release against the sanctioned budget of the financial year
- Direct to the implementing centres on the basis of the recommendation of
the Lead Centre and the National Coordinators
- Release of funds to each consortia member will be as per the MoU between
the lead agency and the other members of the consortium
- Revalidation of unspent funds - with the approval of Competent Authority
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17
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- Accounting Centres
- Project Implementation Unit (PIU)
- Consortium Lead Centres
- Implementing Centres
- Accrual Accounting System i.e. the double entry system of accounting to
be followed
- Statement of Expenditure (SoE) to be submitted to the World Bank within
six month after the close of the Financial Year
- Final Accounts (Balance Sheet) the final balance sheet of the all the
sub-projects of NAIP will have to be prepared by every institution and
submitted to PIU
- Each implementing centres has to maintain Cash Book, Cheque Book/DD
Register, Valuable Register, Grant Register, Project-wise Expenditure,
Control Register, Asset Register, Advance Register, Objection Book,
Balance Sheet etc. as in case of institution funds.
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18
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19
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20
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- Statement of Expenditure (SOE)
- Quarterly SoE to be submitted to PIU till implementation of FMS.
- An online Financial Management System shall be adopted for reporting and
monitoring (within 6 to 9 months)
- Mandatory for all the partners to operate and report through the
Financial Management System.
- For reporting purposes, usages of the standards formats prescribed by
the World Bank/PIU will be mandatory for each implementing agency.
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21
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- The WB reimburses the eligible expenditure on the basis of Statement of
Expenditure (SOEs) in accordance with the covenants of Legal Agreements
with the Government of India.
- A special account is operated at the Reserve Bank of India for
replenishment of claims. This account shall be maintained at the
Controller of Aid Audit and Accounts (CAAA), department of Economics
Affairs (DEA) of Ministry of Finance.
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22
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- SOE based
- Consolidated quarterly/half yearly claims will be submitted by PIU to
the Bank for reimbursement.
- Flat disbursement rate of 80% on the expenditure.
- No separate categorization as was done under NATP.
- Supporting documents for SoEs should be available for post-review by the
World Bank and the Auditors.
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23
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- Objective & Scope
- that the individual expenditures included in the SOE are fully supported
by documentation retained by the implementing unit
- that the expenditures are properly authorized and eligible under the
credit agreements
- that the expenditures are properly accounted.
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24
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- Audit Arrangements – External
- ICAR/its institutes/CSIR and other Govt. Deptt. – to be audited by
C&AG
- SAUs – by State Accountant General/Local Fund Auditor/CA firm from the
roster
- Other Organization – By CA firm from the roster maintained by the PIU
- The PIU will form a roster of ‘A’ Category audit firm empanelled with
the C&AG (Region wise)
- Unified formats of Audit Certificates
- Single audit opinion on the consolidated financial statement – based on
audit reports by the C&AG, LFA/SAG/Private auditors
- The consolidated Audit Utilization Certificates (AUCs) for the project
expenditure as a whole for each financial year to be submitted to the
World Bank by 30th September of the next financial year.
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25
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- Audit Arrangement – Internal
- It will be done quarterly basis.
The Internal audit will be carried out by an agency (Audit firm
of Chartered Accountants) notified by PIU on the basis of magnitude of
expenditure and risk perceived. It will ascertain:
- Separate Bank account
- All the records such as Cash Book, Expenditure Registers, Assets
Register, Vouchers, Files etc. are being properly maintained.
- Up-to-date bank re-conciliation
- Adjustment of advances.
- Expenditure – sanction matching
- No diversion of funds and no re-appropriation at their level.
- The expenditure as per the World Bank norms/procedures.
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26
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- Audit by the World Bank – Sample basis
- Post audit of the SoE based re-imbursement on sample basis.
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27
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- Periodic expenditure review meets by the PIU (Fin)
- Unspent balance highly discouraged
- Timely reporting
- On site monitoring and on course corrections
- Upkeep of Records
- All the documents relating to NAIP expenditure to be kept for 5 years
after the completion of the NAIP
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28
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29
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30
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31
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32
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33
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34
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35
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36
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37
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38
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39
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40
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41
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42
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43
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44
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45
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46
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47
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48
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Notes
