2018-2019 Future-Oriented Statement of Operations (Unaudited)

For the year ending March 31

(in thousands of dollars)
  Forecast
Results
201718
Planned
Results
201819
Expenses
Independent review of military grievances
$4,387 $4,877
Internal services
2,065 2,295
Total expenses 6,452 7,172
Revenues
Miscellaneous revenues
1 0
Total revenues 1 0
 
Net cost of operations before government funding and transfers $6,451 $7,172

The accompanying notes form an integral part of the Future-Oriented Statement of Operations.

Notes to the Future-Oriented Statements of Operations (unaudited)

1. Methodology and significant assumptions

The Future-Oriented Statement of Operations has been prepared on the basis of government priorities and departmental plans as described in the Departmental Plan.

The information in the forecast results for fiscal year 2017-18 is based on actual results as at December 31, 2017 and on forecasts for the remainder of the fiscal year. Forecasts have been made for the planned results for fiscal year 2018-19.

The main assumptions underlying the forecasts are as follows:

  • The Committee’s activities will remain substantially the same as in the previous year. 
  • Expenses and revenues, including the determination of amounts internal and external to the government, are based on past experience. The general historical pattern is expected to continue.

These assumptions are made as at December 31, 2017.

2. Variations and changes to the forecast financial information

Although every attempt has been made to forecast final results for the remainder of 2017-18 and for 2018-19, actual results achieved for both years are likely to differ from the forecast information presented, and this variation could be material.

In preparing this Future-Oriented Statement of Operations, the Committee has made estimates and assumptions about the future. These estimates and assumptions may differ from the subsequent actual results. Estimates and assumptions are based on past experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances, and are continually evaluated.

Factors that could lead to material differences between the Future-Oriented Statement of Operations and the historical statement of operations include:

  • the timing and the amount of acquisitions and disposals of property, plant and equipment, which may affect gains, losses and amortization expense;
  • the implementation of new collective agreements; and
  • other changes to the operating budget, such as new initiatives or technical adjustments later in the fiscal year.

After the Departmental Plan is tabled in Parliament, the Committee will not be updating the forecasts for any changes in financial resources made in ensuing supplementary estimates. Variances will be explained in the Departmental Results Report.

3. Summary of significant accounting policies

The Future-Oriented Statement of Operations has been prepared using the Government of Canada’s accounting policies in effect for fiscal year 2017–18, and is based on Canadian public sector accounting standards. The presentation and results using the stated accounting policies do not result in any significant differences from Canadian public sector accounting standards.

Significant accounting policies are as follows:

(a) Expenses

The Committee records expenses on an accrual basis.

Other expenses are generally recorded when goods are received or services are rendered and include expenses related to personnel, professional and special services, repair and maintenance, utilities, materials and supplies, as well as amortization of tangible capital assets. Provisions to reflect changes in the value of assets and liabilities are also included in other expenses.

(b) Revenues

Other revenues are accounted for in the period in which the underlying transaction or event that gave rise to the revenue takes place.

Revenues that are non-respendable are not available to discharge the Committee's liabilities. Although the Interim Chairperson and CEO is expected to maintain accounting control, she has no authority over the disposition of non-respendable revenues. As a result, non-respendable revenues are considered to be earned on behalf of the Government of Canada and are therefore presented in reduction of the Committee's gross revenues.

4. Parliamentary Authorities

The Committee is financed by the Government of Canada through parliamentary authorities. Financial reporting of authorities provided to the Committee differs from financial reporting according to generally accepted accounting principles because authorities are based mainly on cash flow requirements. Items recognized in the Future-Oriented Statement of Operations in one year may be funded through parliamentary authorities in prior, current or future years. Accordingly, the Committee has different net cost of operations for the year on a government funding basis than on an accrual accounting basis. The differences are reconciled in the following tables:

a) Reconciliation of net cost of operations to requested authorities
(in thousands of dollars)
  Forecast
Results
201718
Planned
Results
201819
Net cost of operations before government funding and transfers $6,451 $7,172
 
Adjustments for items affecting net cost of operations but not affecting authorities:
Amortization of tangible capital assets
(52) (190)
Gain (loss) on disposal of tangible capital and non-capital assets
(2) 0
Services provided without charge by other government departments
(357) (342)
Decrease (increase) in vacation pay and compensatory leave
3 (5)
Decrease (increase) in future employee benefits
0 5
Refunds of prior years’ expenditures
4 0
Adjustments to previous years’ payables at year-end
81 0
Total items affecting net cost of operations but not affecting authorities (323) (532)
 
Adjustments for items not affecting net cost of operations but affecting authorities:
Acquisition of tangible capital assets
1,086 121
Total items not affecting net cost of operations but affecting authorities: 1,086 121
Forecast current year lapse 533 0
Requested authorities $7,747 $6,761
(b) Authorities requested
(in thousands of dollars)
  Forecast
Results
201718
Planned
Results
201819
Vote 1: operating expenditures
$7,183 $6,150
Statutory amounts
564 611
Total authorities requested $7,747 $6,761
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