2015-16 Departmental Performance Report - section II: expenditure overview

 

Actual Expenditures

Budgetary Financial Resources (dollars)

Human Resources (FTEs)

Budgetary Performance Summary

Budgetary Performance Summary for Programs and Internal Services (dollars)

In 2015-16, planned spending of $298.6 million increased by $8.0 million, resulting in total authorities of $306.6 million. This was due to the following changes in authorities:

• An increase in authorities of $11.4 million
  • $8.1 million made available from the collection of repayable contributions;
  • $3.2 million due to an operating budget carry-forward from 2014-15; and
  • $0.1 million to establish a certification and market access program for seal products (Budget 2015).
• A decrease in spending authorities of $3.4 million
  • $3.0 million in funding originally identified through Budget 2014 to support a specific project in New Brunswick that did not proceed. The funds were returned to the fiscal framework; and
  • $0.4 million in transfers to support government-wide initiatives (Back Office Transformation Initiative and the 2016 Census).

From total authorities of $306.6 million, actual spending was $301.6 million, resulting in a surplus of $5.0 million. Of this amount, $3.2 million will be carried forward as part of the Agency’s operating budget and the balance will be included in the amount set aside to assist with anticipated economic increases resulting from the pending collective agreements.

Departmental Spending Trend

D

 

This graph illustrates the Agency’s actual spending from 2013-14 to 2015-16 and planned spending from 2016-17 to 2018-19.

In 2015-16, the Agency’s spending levels were lower than the previous year due to a decrease in spending authorities of $3.0 million to support a project in New Brunswick. In 2016-17 and 2017-18, planned spending will increase due to funding in support of the Canada 150 Community Infrastructure Program (CIP 150),^[1] announced in Budget 2015.

Expenditures by Vote

For information on ACOA’s organizational voted and statutory expenditures, consult the Public Accounts of Canada 2016.

Alignment of Spending With the Whole-of-Government Framework

Alignment of 2015-16 Actual Spending with the Whole-of-Government Framework (dollars)

ACOA Program	Spending Area	Government of Canada Outcome	2015-16 Actual Spending
Enterprise Development	Economic Affairs	Strong Economic Growth	171,964,203
Community Development	Economic Affairs	Strong Economic Growth	91,402,846
Policy, Advocacy and Coordination	Economic Affairs	Strong Economic Growth	11,828,235

Total Spending, by Spending Area (dollars)

Spending Area	Total Planned Spending	Total Actual Spending
Economic Affairs	272,723,943	275,195,284
Social Affairs	0	0
International Affairs	0	0
Government Affairs	0	0

Financial Statements and Financial Statements Highlights

Financial Statements

ACOA’s 2015-16 financial statements can be found on the Agency’s website.

Financial Statements Highlights

The financial highlights presented in this section are drawn from the Agency’s financial statements and provide an overview of the Agency’s financial position and operations. The unaudited financial statements are prepared in accordance with the Government’s accounting policies, which are based on Canadian public sector accounting standards. The actual expenditures presented earlier in this section were prepared on a cash basis, while the financial highlights that follow were prepared on an accrual basis. Tables reconciling these two accounting methods are presented in note 3 of the financial statements.

Condensed Statement of Operations (unaudited) For the Year Ended March 31, 2016 (dollars)

Financial Information	2015-16 Planned*	2015-16 Actual	2014-15 Actual	Difference (2015-16 Actual minus 2015-16 Planned)	Difference (2015-16 Actual minus 2014-15 Actual)
Total expenses	240,881,844	231,222,133	240,918,357	(9,659,711)	(9,696,224)
Total revenues	17,461	17,493	12,792	32	4,701
Net cost of operations before government funding and transfers	240,864,383	231,204,640	240,905,565	(9,659,743)	(9,700,925)

* ACOA’s 2015-16 Future-Oriented Statement of Operations can be found on the Agency’s website.

Actual total expenses were $231.2 million in fiscal year 2015-16, a decrease of $9.7 million (4.0 per cent) compared to the previous fiscal year. The decrease is mainly due to an accounting adjustment made every year regarding conditionally repayable contributions. When payments are made on conditionally repayable contributions, the amounts are included in expenses until conditions for repayment are met, at which time the Agency reduces its expenses and increases its accounts receivable. In 2015-16, the reduction was greater than the previous fiscal year.

Of the total expenses of $231.2 million, $96.3 million (41.6 per cent) was incurred under the Enterprise Development program while $92.9 million (40.2 per cent) was spent under the Community Development program.

Condensed Statement of Financial Position (unaudited) As at March 31, 2016 (dollars)

Financial Information	2015-16	2014-15	Difference (2015-16 minus 2014-15)
Total net liabilities	61,060,207	62,673,714	(1,613,507)
Total net financial assets	55,269,204	57,421,930	(2,152,726)
Departmental net debt	5,791,003	5,251,784	539,219
Total non-financial assets	695,031	808,189	(113,158)
Departmental net financial position	(5,095,972)	(4,443,595)	(652,377)

 

Total net liabilities were $61.1 million at the end of the 2015-16 fiscal year, a decrease of $1.6 million (2.6 per cent) from 2014-15. The decrease can mainly be attributed to a reduction of trades payable.

Total net financial assets equalled $55.3 million at the end of 2015-16, a decrease of $2.2 million (3.7 per cent) from the previous year’s total. These assets primarily consist of the “Due from the Consolidated Revenue Fund” ($53.3 million), which is used to discharge the Agency’s liabilities. Given that the Agency’s liabilities were lower than the previous fiscal year, the “Due from the Consolidated Revenue Fund” also decreased.

Total non-financial assets were $0.7 million at the end of 2015-16, a reduction of $0.1 million (14.0 per cent) over the previous fiscal year’s total of $0.8 million.

 

[1] The Canada 150 Community Infrastructure Program is also known as the Canada 150 Infrastructure Program.