1. Financial Management for Africa Centers of Excellence (ACE II) Project Presented by Patrick Umah Tete, World Bank on April 27, 2017 in Addis Ababa

2. Overview of the session
What needs to be done upon a country/ACE becoming effective
Financial Management (FM) DLI #3
Interim Financial Report formats – We need to get it right
Q&A

3. What to do upon Effectiveness
ACE needs to open project account and communicate details including signatories to the Bank.
Student Fees bank accounts should be identified at the university if not a project account should be opened.
Ensure audit backlogs addressed.
Support ACE to submit Withdrawal Application for US$ 1.1m related to achieving DLI 1:
Meeting all effective conditions in the legal agreement (which is $600K); and
ACE Implementation Plan being approved by Higher Education Ministry as part of the Performance Agreement (which is $500K).

4. What to do upon Effectiveness
Ensure you have accounting staff to account for project funds.
Ensure internal audit includes the project in their annual work plan.
Establish a functional audit committee if not already done.
Appoint the external auditors within 6 months after effectiveness and agree on the TOR.
Put in place a functional complaint handling mechanism.
Set up project website and ensure it is linked to university’s website.

5. FM DLI#3

6. Interim Financial Report (IFR) Formats
Sources and Uses of Funds
Uses of Funds as per activities in the Project Implementation Manual (PIM)
Eligible Expenditure Program (EEP) Statement
Disbursement Linked Indicator (DLI) Statement

7. Sources and Uses of Funds

8. Uses of Funds As per PIM

9. EEP Statement

10. DLI Statement

11. Q & A