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

 

Actual Expenditures

Budgetary Financial Resources (dollars)

2015-16
Main Estimates
2015-16
Planned Spending
2015-16
Total Authorities Available for Use
2015-16
Actual Spending (authorities used)
Difference
(actual minus planned spending)
298,584,989 298,584,989 306,577,812 301,608,968 3,023,979

Human Resources (FTEs)

2015-16
Planned
2015-16
Actual
Difference
(actual minus planned spending)
598 573 (25)

Budgetary Performance Summary

Budgetary Performance Summary for Programs and Internal Services (dollars)

Programs
and Internal
Services
2015-16
Main
Estimates
2015-16
Planned Spending
2016-17
Planned Spending
2017-18
Planned Spending
2015-16
Total Authorities Available for Use
2015-16
Actual Spending
(authorities used)
2014-15
Actual Spending
(authorities used)
2013-14
Actual
Spending
(authorities used)
Enterprise Development 171,221,612 171,221,612 172,961,681 170,781,524 178,259,320 171,964,203 173,992,156 180,674,018
Community Development 89,727,582 89,727,582 97,704,593 96,688,987 90,705,042 91,402,846 90,659,999 94,103,327
Policy, Advocacy and Coordination 11,774,749 11,774,749 11,740,443 11,789,209 11,903,019 11,828,235 12,444,235 10,634,165
Internal Services 25,861,046 25,861,046 25,790,487 25,789,736 25,710,431 26,413,684 28,176,701 28,746,598
Total 298,584,989 298,584,989 308,197,204 305,049,456 306,577,812 301,608,968 305,273,091 314,158,108

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:

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.

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