2018-2019 Departmental Results Report
Analysis of trends in spending and human resources

Actual expenditures

Graph: Spending over six fiscal years
(D)
Actual spending: 2016-17, 2017-18, 2018-19. Planned spending: 2019-20, 2020-21, 2021-22.

Planned spending for 2020-21 and 2021-22 does not include excess amounts related to the collection of repayable contributions because decisions on the excess amount of collections that can be re-invested by the Agency are made later in the fiscal cycle.

 

In 2018-19, the Agency’s spending was $9 million less than in the previous year, mainly due to the following changes in authorities:

From 2019-20 to 2021-22, the decrease in planned spending is attributable mainly to the amount transferred from the Department of National Defence in support of the Halifax International Security Forum, the sunsetting of support for specific projects in innovation, commercialization and community development in New Brunswick, and the exclusion of excess amounts of collections related to the reinvestment of repayable contributions, as explained in the note under the above graph.

Budgetary performance summary for Core Responsibility and Internal Services (dollars)

Core Responsibility
and Internal
Services
2018–19
Main
Estimates
2018–19
Planned
spending
2019–20
Planned
spending
2020–21
Planned
spending
2018–19
Total
authorities
available for
use
2018–19
Actual
spending
(authorities
used)
2017–18
Actual
spending
(authorities
used)
2016–17
Actual
spending
(authorities
used)
Economic
development in
Atlantic Canada
300,441,040 300,441,040 289,063,006 267,187,006 341,646,917 323,354,426 332,744,431 307,684,045
Subtotal 300,441,040 300,441,040 289,063,006 267,187,006 341,646,917 323,354,426 332,744,431 307,684,045
Internal Services 26,917,122 26,917,122 26,553,941 26,501,876 27,297,945 26,243,126 26,241,166 24,681,457
Total 327,358,162 327,358,162 315,616,947 293,688,882 368,944,862 349,597,552 358,985,597 332,365,502

For 2018-19, planned spending of $327.4 million increased by $41.5 million over the previous year, resulting in total authorities available for use of $368.9 million. This was due to the following additional authorities received during the fiscal year:

From the 2018-19 total authorities of $368.9 million, actual spending was $349.6 million. This resulted in a surplus of $19.3 million. Of that amount, $3.3 million was carried forward as part of the Agency’s operating budget; $12.5 million was reprofiled as a result of project/contracting delays; $1.8 million was transferred to Natural Resources Canada for intervention measures to prevent the spread of spruce budworm in the forests of the Atlantic provinces; and the remaining balance lapsed.

Actual human resources

Human resources summary for Core Responsibility and Internal Services (full-time equivalents, or FTEs)

Core Responsibility and Internal Services 2016–17
Actual
FTEs
2017–18
Actual
FTEs
2018–19
Planned
FTEs
2018–19
Actual
FTEs
2019–20
Planned
FTEs
2020–21
Planned
FTEs
Economic development in Atlantic Canada 387 376 391 378 381 381
Subtotal 387 376 391 378 381 381
Internal Services 195 195 199 194 196 196
Total 582 571 590 572 577 577

Human resource levels at ACOA remain stable. The minor fluctuations that occur reflect the realignment of human resources to support priorities and projects. The Agency will continue to achieve its results by allocating its human resources to best support its priorities and programs.

Expenditures by vote

For information on ACOA’s organizational voted and statutory expenditures, consult the Public Accounts of Canada 2018-2019.

Government of Canada spending and activities

Information on the alignment of ACOA’s spending with the Government of Canada’s spending and activities is available in the GC InfoBase.

Financial statements and financial statements highlights

Financial statements

ACOA’s financial statements (unaudited) for the year ended March 31, 2019, are available on the Agency’s website.

Financial statements highlights

Condensed Statement of Operations (unaudited) for the Year Ended March 31, 2019
(dollars)

Financial Information 2018–19
Planned
results
2018–19
Actual
results
2017–18
Actual
results
Difference (2018–19
Actual results
minus
2018–19
Planned results)
Difference
(2018–19
Actual results
minus
2017–18
Actual results)
Total expenses 276,387,024 256,386,179 268,184,518 (20,000,845) (11,798,339)
Total revenues 19,351 23,177 0 3,826 23,177
Net cost of operations
before government
funding and transfers
276,367,673 256,363,002 268,184,518 (20,004,671) (11,821,516)

Expenses:

Actual total expenses were $256.4 million in fiscal year 2018-19, a decrease of $11.8 million (4.4%) compared to the previous fiscal year.

The decrease was mainly due to a decision to defer some spending against the top-up funding to promote and advance an innovative and knowledge-based economy in Atlantic Canada (Budget 2017) to a future year as a result of project delays.

Of the total expenses of $256.4 million, $228 million (88.9%) was used to support economic development in Atlantic Canada while $28.4 million (11.1%) was expended for Internal Services.

Condensed Statement of Financial Position (unaudited) as of March 31, 2019 (dollars)

Financial information 2018-19 2017-18 Difference
(2018–19 minus
2017–18)
Total net liabilities 60,894,073 59,580,983 1,313,090
Total net financial assets 55,472,270 53,250,345 2,221,925
Departmental net debt 5,421,803.09 6,330,638 (908,835)
Total non-financial assets 2,006,821.82 1,552,836 453,986
Departmental net financial position (3,414,981.27) (4,777,802) 1,362,821

Liabilities:

Total net liabilities were $60.9 million at the end of the 2018-19 fiscal year, representing an increase of $1.3 million (2.2%) from fiscal year 2017-18. The liabilities primarily consist of “Accounts payable and accrued liabilities” ($55.2 million).

Assets:

Total net financial assets equalled $55.5 million at the end of the 2018-19 fiscal year, an increase of $2.2 million (4.2%) over the previous year’s total. The assets primarily consist of the “Due from the Consolidated Revenue Fund” ($55 million), which is used to discharge the Agency’s liabilities.

Total non-financial assets were $2.0 million at the end of the 2018-19 fiscal year, an increase of $0.5 million (29.2%) over the previous fiscal year’s total. The increase is mainly attributable to work in progress related to the Grants and contributions program management system.

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