Annual Report 2007/2008 - Poverty Alleviation Fund, Nepal

PAF ANNUAL REPORT 2007/08The Funds Flow Modality of PAF withCommunity Organization is as Follows:PAFMain A/CPAF Level(Centre)PAFProgramme A/CPAFOperating A/CCO Level(District)CommunityNon operating A/CCommunityContributionPartner Organization(PO) provide TechnicalAssistance to CommunityOrganization (CO)CommunityOperating A/CPAF prepares Financial Monitoring Report (FMR) on a trimester basis for the purpose of review by internalmanagement and reporting to the World Bank., The report is comprised of different sections including briefdescription of project progress. The Financial monitoring report is the comprehensive report that includesvarious reporting formats, which cover financial, physical progress, contract expenditure and procurementinformation. The report 2A discloses the information on sources and uses of funds. Likewise, 2B providesinformation on uses of funds by project activity and 2C is the section that gives information on IDA eligibleexpenditure and the disbursement status. Section 2D is for reconciliation statement of special account and theprojection for the forthcoming trimester.Review of physical progress section provides all information on the achievement against planned with regardsto major physical indicators set by PAF. Contract expenditure report has two parts- goods and consultants.Furthermore, goods and consultancy are categorized on the basis of prior or post review threshold. Similarly,procurement section has two parts -goods and consultancy. Furthermore, procurement of consultant has beencategorized as individual consultant and firm consultant. Whether procurement is prior or post review dependsupon the threshold for procurement of goods and consultants.58