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FINANCIAL REPORTING - Instructions and Checklist (3 pages)

Please print and read carefully

FINANCIAL REPORTING - Instructions and Submission Checklist (3 pages) - please print and read carefully

PAGE 1(3) Instructions for Expenditure report and Summary sheet

Detailed expenditure report (a)

In this worksheet you provide the detailed expenditure report for the current period
(Inception, Annual, Final) and total expenditure for the entire project duration.

1. Project information:

Fill in as required, the data will be copied automatically into the summary sheet (b)

2. Total budget:

You are required to report against each budget line of the last approved budget, e.g. if you
have an approved budget revision, you need to fill in the figures from the budget revision.

Budget for this reporting period:

Use the budget that you have used in your last fund request for the reporting period

Expenditure:

Reporting of expenditure can be done on accrual or cash basis. You need to report on
each line of your submitted budget. See below "Guidelines on Expense Reporting by
Budget Line Headings" for more information

Over/underspent and variance:

This is calculated automatically for the current period. If the variance is more than +/- 10%
on budget or sub-budget header and over 30% on all other budget lines a brief explanation
should be provided. If the variance is smaller than 30% or 10%, but the total amount
differs by a significant amount, an explanation needs to be provided (for example the
variance is only 7%, but total difference is 25'000USD).
Final Report: for the final report, the reporting will be on the entire project duration, and
over/underspent and variances will be addressed in regards to the total budget / total
expenditure (e.g. Column h / progress against budget)

Expenditure in previous reporting periods

Total expenditure incurred from project start date to last reporting period

Total Expenditure

Current reported expenditure + previous reported expenditure

Progress against budget:

Shows the rate of overall implementation up to date against the project budget

3. Inelligible costs

Please indicate the corrections of inelligible costs from the last audit as applicable

4. Certification:

Ensure the authorized person in your oganisation signs

Summary Sheet (b)

This sheet summarizes previously and currently reported financial data. Some cells
are write protected and linked to sheet (b). You only need to fill in the cells filled
with red.

1. Project information:

copied from expenditure report

2. Funds received:

Please report on each received fund transfer; indicate in case you have received the 8%
bridging fund

Expenditure:

Indicate the amounts for incurred expenditure per reporting period, ensure they are
consistent with previous reports

Other Income:

Indicate any other income, e.g. interest earned for the entire project duration

Implementation Rate:

Implementation Rate compares the total expenditure up to date against the received funds
(excluding the 8% bridging funds and other earned income)

Progress Rate:

The Progress rate compares the total expenditure against total budget

3. Certification:

Ensure the authorized person in your oganisation signs

Audit Observations (c)

As part of the annual reporting you are required to report in your annual report on
outstanding audit / expenditure verifications observations. Please use the summary sheet
provided by the auditors. If you do not have the summary, contact LIFT (contracts
manager)

FINANCIAL REPORTING - Instructions and Checklist (3 pages)

Please print and read carefully

FINANCIAL REPORTING - Instructions and Checklist (3 pages)

Please print and read carefully

PAGE 2(3) Guidelines on Expense Reporting, Details


Please also refer to the Operational Guidelines if required

1.

1.1

Human Resources

Salaries International Staff

Salaries refer to actual total employment costs for international staff funded under the
agreement. This may include actual salaries, allowances, bonuses, social security charges
and other remuneration related costs (including provisions such as pension, home leave,
separation pay, etc.). Salaries and other costs will not exceed those normally borne by the
organization.

1.1.1

Technical Staff

International Staff in Technical roles directly supporting the project activities such as
Programme Coordinators and Project Managers

1.1.2

Administrative Staff

International Staff in Administrative or Management positions such as Country Director,


Administrative and Finance

1.2

Salaries National Staff

1.2.1

Technical Staff

1.2.2

Administrative Staff

1.3 Short Term Technical Assistance

1.4 Missions/ Per Diem and other

Salaries refer to actual total employment costs for national staff funded under the agreement.
This may include actual salaries, allowances, bonuses, social security charges and other
remuneration related costs (including provisions such as pension, separation pay, etc.).
Salaries and other costs will not exceed those normally borne by the organization.
National Staff in Technical roles directly supporting the project activities such as Programme
Coordinators and Project Managers
National Staff in Administrative or Management positions such as Country Director,
Administrative and Finance Staff
Consultancy costs per day or per month should be specified.
Total costs of engaging the consultant are eligible including recruitment costs, travel and
accommodation relevant to the assignment. Costs for Field Trips should also be included
for Consultants.
Mission related costs refers to actual payment for the local air tickets, local transportation,
board and lodging, etc. for official trips of project personnel, and the government appointed
Liaison Officer taking part in the monitoring of implementation of the project activities, in
accordance with the policy of the organization.

YES / NO

Missions costs related to formal evaluation and audit activities must be reported
Section 2
2.

Office, Equipment and Supplies

2.1 Transport Rental and Running Costs

under

All Transport related costs for rental, maintenance and repair, fuel and running costs.
Includes car, motor cycle, boat, bicycle etc.
Where transport vehicles are shared across multiple projects please specify in Expenditure
Analysis column the % to be utilized and charged with LIFT Funds.

Purchases and procurements by the project for the management and operations for the
programme should be included in this section. All items to be included on the inventory list
2.2 Purchase of Transport Vehicles, Equipment, must be included here plus items under $500 value.
Furniture and Others
Where assets are shared across multiple projects please specify in Expenditure Analysis
column the % to be utilized and charged with LIFT Funds. Audit processes may require
verifiable documentation on sharing of assets.
a. Office Rental - actual lease payment or proportionately allocated cost of renting premises
for office facilities or houses for project personnel performing activities/services directly
attributable to the project.
b. Communication costs - actual payments for communication costs like phone, internet,
courrier etc
c. Stationary and Consumables
d. Utilities - actual payments for electricity, water, generator fuel, etc.
e. Audits - actual payments for audits (only applicable if there has been an agreement with
2.3 Office Rental and Running Costs and Others LIFT on such audit costs, e.g. for internal audits on sub-IPs)
f. Evaluations Missions - actual payments for Fund Manager required Evaluations
g. Workshops, Seminars and Trainings refer to actual payment related to the organization of
staff development activities and of trainings, seminars, workshops & meetings. Examples are
cost of meeting room, cost of conference kits, cost of meeting package, field testing and
development of IEC materials and other tools. Staff Mission costs or per diems should be
included under Missions and Per diems 1.4. Workshops and training with beneficiaries and
target groups should be included under Programme Costs 3.
3.

Programme Costs

3.1

LIFT OUTPUT Specific

Programme Activities that directly benefit the target groups should be included as separate
budget lines under the relevant LIFT OUTPUT. All costs incurred in direct implementation of
activities should be included under Programme Costs.

FINANCIAL REPORTING - Instructions and Checklist (3 pages)

PAGE 3(3) Checklist for Financial Report


Detailed expenditure report (a)
Project information
Column (a), Total Budget
Column (b), Budget for this reporting period
Column (c), Expenditure in this reporting
period
Columns (d) and (e), Variance and
over/underspent

Column (f) Expenditure in previous reporting


periods
Formulas:
sums and variances
indirect fee
Ineligible costs
Certification

Summary sheet (b)


Project information
Total funds received

Please print and read carefully

YES / NO

Project information filled out ?


Updated dates in case there was an amendment (e.g. duration / total budget)?
Correct amount, e.g. as per your submitted budget OR latest budget revision?
Correct amount, e.g. as per your submitted fund request for this period OR latest budget
revision for the same period?
reported against each line?
have you explained in the last column any variances of more than +/- 10% for heading/subheadings
have you explained +/-30% for all other budget lines?
have you explained any other over/underspent which may be within the 10% / 30% but in
monetary value significant?

Is this corresponding with last submitted report?


have you checked whether all sums and variances are calculated correctly?
have you calculated the fee correctly on all columns?
have you checked your audit report for ineligible costs?
if applicable, have you addressed correction of ineligible costs?
Name of the signatory reflected?
Signed?
Dated?

Total expenditure per reporting period

same as on Detailed expenditure report?


checked against last years report?
Are they the same figures for the previous year?
if 8% bridging fund was received, is it reflected correctly?
fund request etc. to be mentioned with received date?
Expenditure corresonding with expenditure report?

Other income
Certification

reflected for entire period?


Same as on Detailed expenditure report?

Submission to LIFT

do you have a signed hard copy?


if you don't send a hard copy, but a scan, verify that the scan big enough to read?
do you have the Excel version for submission?
is it the same as the hard copy?
Check submission dates in your Grant agreement

Additional Instruction Notes for the Financial Reporting Template (Microfinance Projects)
The project with investment in loan fund

The project without investment


in loan fund

All microfinance projects


(with and without investment in loan fund)

Summary (b)

Annual report and


final report:
Annual report and
final report:

Quarterly report

This format is developed for the projects which invests LIFT fund in the loan fund. Therefore, use these templa
for
annual reporting, and final project end financial reporting. Note that form (d), (e), and (f) are required for each m
institution.

This template (a), (b) (c) and (d) are not for the microfinance projects that do not invest LIFT fund in the loan fu
They are required to use normal LIFT financial reporting templates for annual and final financial reporting.

Use template (e), (f) and (g) for quarterly report: Q1 report by end April, Q2 report by end July, Q3 report by end
Q4 report by end Feb next year. Note that the quarterly report is required for each microfinance institution recei
from the project.

For the project with more than one MFI, total net income and investment in loan fund must be sum of each MFI. See auto links in the

Expenditure report (a)

Report all expenditures and operational grant in the expenditure report.

Investment report (d)

Report disbursement or investment or grant for loan fund in this report.

Performance (e)

Balance sheet (f)

P&L (g)

Please use the formulas provided for the calculation of the performance ratios.

For the MFI operating microfinance with fund from LIFT only, donated capital and net income can be accounted as 100% equity from
For the MFI operating microfinance with funds from LIFT and other equity, report donated capital from LIFT fund in seperate line. Pro
should also be reported for LIFT fund potion. See example below:
Other investment/equity = USD 600,000, Investment from LIFT-fund = USD 400,000 (40% of total investment)
In this case, 40% total net interest earned and 40% of other income should be reported in 16.8 and 16.9 of the BL sheet.

Quarterly P&L must be cummulative, and annual P&L should cover the calender year.

re, use these templates from (a) to (f)

e required for each microfinance

T fund in the loan fund.


ncial reporting.

uly, Q3 report by end Oct, and


ance institution received assistance

See auto links in the format.

as 100% equity from LIFT fund.


in seperate line. Pro-rated net income

L sheet.

Annex IV - Financial Report Template


(a) Expenditure Report
Fill in. This will be copied to the summary sheet

Project Information:
Implementing Partner:

refer to MOA, first page

Memorandum of Agreement Number:

refer to MOA, first page

Project Title:

refer to MOA, first page

Contract Period:

indicate duration of project, e.g. 1/1/2012-31/12/2014

Contract Amount:

refer to MOA budget

Reporting Period:

indicate duration of reporting period, e.g. 1/1/2013-31/12/2013

Type of report:

Choose drop down menu

Version

1/23/2015

Budget for
this reporting
period

Budget description

Total
Budget

Dates

indicate duration of
project, e.g. 1/1/201231/12/2014

calculation

2. OFFICE COSTS, EQUIPMENT AND SUPPLIES


2.1 please fill in details as per your last approved
budget

3. PROGRAMME COSTS

Variance

Expenditure in
previous
reporting
periods

cummulative p

start date of project to cu

b
-

over/under
spent

indicate duration of reporting period, e.g. 1/1/2013-31/12/2013

1. HUMAN RESOURCES
1.1 please fill in details as per your last approved
budget

Expenditure in
this Reporting
Period

c
-

d=b-c
-

e=c/b
-

#DIV/0!

#DIV/0!

#DIV/0!

Page 1

Annex IV - Financial Report Template


Dates
calculation
3.1..please fill in details as per your last approved
budget
Do not report disbursement for loan fund here

indicate duration of
project, e.g. 1/1/201231/12/2014

cummulative p
indicate duration of reporting period, e.g. 1/1/2013-31/12/2013

start date of project to cu

d=b-c

e=c/b

4. TOTAL DIRECT COSTS


5. INDIRECT COST (6% of Direct Costs + 6% of total
investment in loan fund)

#DIV/0!

#DIV/0!

6. Grand Total

#DIV/0!

Page 2

Annex IV - Financial Report Template


indicate duration of
project, e.g. 1/1/201231/12/2014

Dates
calculation

cummulative p
indicate duration of reporting period, e.g. 1/1/2013-31/12/2013

start date of project to cu

d=b-c

Inelligible costs as identified in the audit/verification reports have been corrected as follows:

I certify that, in all material respects, the total expenditure incurred and reported herein are strictly for purposes of the
project or activity, as agreed by the LIFT Fund Manager - UNOPS.

Implementing Partner's Approval:

Name & Signature of Authorized Official


Title:
Date:

Page 3

e=c/b

Annex IV - Financial Report Template


indicate duration of
project, e.g. 1/1/201231/12/2014

Dates
calculation

cummulative p
indicate duration of reporting period, e.g. 1/1/2013-31/12/2013

start date of project to cu

Page 4

d=b-c

e=c/b

Annex IV - Financial Report Template

Total
Expenditure

Progress against
budget
Provide comment on over and under variation of
expenditure if variance is more than 10% in column (e)

cummulative performance
start date of project to current reporting period

g=f+c

h=g/a
-

#DIV/0!

#DIV/0!

#DIV/0!

Page 5

Annex IV - Financial Report Template


Provide comment on over and under variation of
expenditure if variance is more than 10% in column (e)

cummulative performance
start date of project to current reporting period

g=f+c

h=g/a
-

#DIV/0!

#DIV/0!

#DIV/0!

Page 6

Annex IV - Financial Report Template


Provide comment on over and under variation of
expenditure if variance is more than 10% in column (e)

cummulative performance
start date of project to current reporting period

g=f+c

h=g/a

Page 7

Annex IV - Financial Report Template


Provide comment on over and under variation of
expenditure if variance is more than 10% in column (e)

cummulative performance
start date of project to current reporting period

g=f+c

h=g/a

Page 8

Annex IV - Financial Report Template


(b) Summary Report
Project Information
Implementing Partner:
Memorandum of Agreement Number:
Project Title:
Contract Period:
Contract Amount:
Reporting Period:
Type of report:

refer to MOA, first page


refer to MOA, first page
refer to MOA, first page
indicate duration of project, e.g. 1/1/2012-31/12/2014
refer to MOA budget
1/1/2014 - 31/12/2014
Choose drop down menu

Please fill in fields in red


Funds Received, Expenditures, and Investment
Funds Received:
8% bridging fund if applicable
1st Fund Request
2nd Fund Request
3rd Fund Request
Total Received

Amount

Total expenditure per reporting period


Current reporting period
Previous reporting period:
Previous reporting period:
Previous reporting period:
Total Expenditure

Amount

Date received

0
Dates from - to
Reporting Period:

0
Amount

Other income earned for entire duration


Net interest income
other income
Total of net income
Reinvestment of income
Balance of net income

Description
0
0
0
0
Summary

Budget
Funds received
Expenditure
Balance

refer to MOA budget

excluding 8%

$
$
$

$
$
$

Total investment of LIFT fund in loan fun $


Balance of net income
$
Fund Surplus/Deficit:
$

Implementation Rate
Progress Rate

#DIV/0!
#VALUE!

Certification by the Implementing Partner

Name & Signature of Authorized Official


Title:
Date:

Page 1

Version as of 01/23/2015

please use the audit summary sheets provided by the auditors. You need to report on all open audit observations

all open audit observations

Annex IV - Financial Report Template


(d) Investment in loan fund Report
Fill in. This will be copied to the summary sheet

Project Information:
Implementing Partner:

refer to MOA, first page

Memorandum of Agreement Number:

refer to MOA, first page

Project Title:

refer to MOA, first page

Contract Period:

indicate duration of project, e.g. 1/1/2012-31/12/2014

Contract Amount:

refer to MOA budget

Reporting Period:

indicate duration of reporting period, e.g. 1/1/2013-31/12/2013

Type of report:

Choose drop down menu

Version

1/23/2015

Budget for
this reporting
period

Budget description

Total
Budget

Dates

indicate duration of
project, e.g. 1/1/201231/12/2014

calculation

Investment in
this Reporting
Period

over/under
spent

Variance

Investment in
previous
reporting
periods

cummulative p
indicate duration of reporting period, e.g. 1/1/2013-31/12/2013

start date of project to cu

d=b-c

e=c/b

3. Program Cost
Investment in loan fund

#DIV/0!

4. TOTAL Investment

#DIV/0!

Page 1

Annex IV - Financial Report Template


indicate duration of
project, e.g. 1/1/201231/12/2014

Dates
calculation

cummulative p
indicate duration of reporting period, e.g. 1/1/2013-31/12/2013

start date of project to cu

d=b-c

Inelligible costs as identified in the audit/verification reports have been corrected as follows:

I certify that, in all material respects, the total expenditure incurred and reported herein are strictly for purposes of the
project or activity, as agreed by the LIFT Fund Manager - UNOPS.

Implementing Partner's Approval:

Name & Signature of Authorized Official


Title:
Date:

Page 2

e=c/b

Annex IV - Financial Report Template


indicate duration of
project, e.g. 1/1/201231/12/2014

Dates
calculation

cummulative p
indicate duration of reporting period, e.g. 1/1/2013-31/12/2013

start date of project to cu

Page 3

d=b-c

e=c/b

Annex IV - Financial Report Template

Total
Investment

Progress against
budget
Provide comment on over and under variation of
investment if variance is more than 10% in column (e)

cummulative performance
start date of project to current reporting period

g=f+c

h=g/a

#DIV/0!

#DIV/0!

Page 4

Annex IV - Financial Report Template


Provide comment on over and under variation of
investment if variance is more than 10% in column (e)

cummulative performance
start date of project to current reporting period

g=f+c

h=g/a

Page 5

Annex IV - Financial Report Template


Provide comment on over and under variation of
investment if variance is more than 10% in column (e)

cummulative performance
start date of project to current reporting period

g=f+c

h=g/a

Page 6

(E) Performance of Microfinance Operation


Indicator
Operation Sustainability (OSS)
Financial Sustainability (FSS)
Arrears Rate (AR)
PAR30
PAR180
Operational Efficiency
Admin Efficiency
Yield on Portfolio (YOP)
Work Load (WL)
Financial Load (FL)
Return on Assets

Previous reporting period

this reporting report

Operation (OSS) = Total Income x 100


Total Expenses
Financial (FSS) = Total Income
Expenses+Interest on Investment+Provision for Loan Loss+Inflation Rate

Arrears Rate (AR) = Payment in arrears x 100


Loan Outstanding

Portfolio at Risk (PAR) = Balance of loans in arrears x 100


Loan Outstanding
Operational Efficiency (OE) = Total Expenses x 100
Average Loan Outstanding
Admin Efficiency (AE) = Expenses of Staff+Admin Expenses x 100
Average Loan Outstanding
Yield on Portfolio (YOP) = Interest + Other Income x 100
Average Loan Outstanding
Work Load (WL) = No of Clients x 100
No of Loan Promoter
Financial Load (FL) = Loan Outstanding x 100
No of Loan Promoter

Return on Assets

= Net Income x 100


Total Assets

x 100
oan Loss+Inflation Rate

Name of Microfinance Institution


(F) Cosolidated Balance Sheet as at (

Assets
ASSETS
1 Cash and Balance with CBM and Banks
1.1 Cash on Hand and in vault
1.2 Balances with the Central Bank of Myanmar
1.3 Balances with Banks and Other financial Institutions
2 Marketable securities & Short term Investments
2.1
2.2
3 Loan to Customers
3.1 Total Loand Outstanding
3.2 Less: Loan Loss Reserve
4 Prepayment and other Receivables
4.1
4.2
5 Long Term Investment
5.1
5.2
6 Property and Equipment
6.1 Land
6.1.1
6.1.2

Land at Cost
Lees: Accumulated Depreciation

6.2 Building
6.2.1
Building at Cost
6.2.2
Lees: Accumulated Depreciation
6.3 Other Fixed Assets
6.3.1
Other Fixed Asset at Cost
6.3.2
Lees: Accumulated Depreciation
7 Other Assets
7.1

Kyat

TOTAL ASSETS
Liabilities & Equity Accounts
8 Customers' Deposits
8.1 Compulsory Saving Deposit from Clients
8.2 Deposits Received from General Public
8.2.1
Saving Deposits
8.2.2
Demand Deposit
8.2.3
Term Deposits
8.2.4
Other Deposits
9 Deposits from Banks and Other Financial Institutions
9.1
10 Accounts Payable
10.1
11 Accrued Expenses and Provisions
12 Long Term Borrowings
12.1 Financial Institutions
12.2 Non-Financial Instututions
13 Deferred Revenue
14 Suspense Clearing and Interbranch Accounts
15 Other Liabilities
TOTAL LIABILITIES

16 Equti Account
16.1 Paid-Up Capital
16.2 Premium on Share Capital
16.3 Donated Capital (LIFT - fund)
16.4 Donated Capital (others)
16.5 Hybrid capital Instruments
16.6 Reserves
16.7 Retained Earnings
16.8 Net Interest Earned from LIFT fund (pro-rated)
16.9 Other income from LIFT fund (pro-rated)
16.10 Other net income
TOTAL EQUITY

TOTAL LIABILITIES AND EQUITY ACCOUNTS

Prepared by
Name
Designation

Checked by
Name
Designation

Amount
Equivalent to USD

Approved by
Name
Designation

Name of Microfinance Institution / Organization


(G) Profit & Loss Account for the period (

to

)
Amount

Particular

Equivalent to
USD

In Kyat

1 Interest Income
1.1 Loan to Customers
1.2 Accounts with Banks and Financial Intsitution
1.3 Securities & Investments
1.4 Others

2 Interest Expenses
2.1 Customer Deposits
2.2 Amounts owing to Bankss and Other Financial Institutions
2.3 Borrowing
2.4 Others

3 Net Interest Income (3 = 1 - 2)


4 Non Interest Income(Net)
4.1 Commission and Fee
4.2 Other non interest income
4.3 Others

5 Foreign Exchange Gain/ Loss


6 Other Income
7 Operating Income
(7=3+4+5+6)
8 Staffs Expenses
9 Admin and General Expeses
10 Depreciation
11 Loan Written Off
12 Loan Loss Provision
13 Profit from Operations
(13=7+8+9+10+11+12)
14 Grant Income
15 Adjustments for subsidies
16 Profit before tax
(16=13+14+15)
17 Tax on Profit
18 Net profit for the Period
(16-17)

UNOPS-LIFT
Summary of Audit Recommendations for the year 2010

Obs.
No.
1 sss
2 fff
3 ddd
4 eee

Subject Title

Recommendation
sss
fff
ddd
eee

Implementing Partner : LIFTING

Priority
Medium
Medium
Medium
Medium

Open:
Closed:
Total:

Implementing Partner : LIFTING

Management Response

Status as per 20xx


verification report

IP update

LIFT comments