Financial Statements For the year ended March 31, 2013
Notes to the Financial Statements (Unaudited)
13. Adjustments to Prior Year’s Results
During the preparation of the current year's financial statements there was a reinterpretation of the application of Treasury Board Accounting Standards as they relate to the calculation of Due from Consolidated Revenue Fund. Consequently, the comparative financial statements presented for the year ended March 31, 2012 have been restated. The effect of the adjustment is presented in the table below.
| (in thousands of dollars) | 2012 As previously stated |
Effect of change |
2012 Restated |
|---|---|---|---|
| Statement of Financial Position | |||
| Due from Consolidated Revenue Fund | $ 94,863 | $ (34,298) | $ 60,565 |
| Agency net debt | 43,416 | 34,298 | 77,714 |
| Agency net financial position | 77,174 | (34,298) | 42,876 |
| Statement of Operations and Agency Net Financial Position | |||
| Change in due from Consolidated Revenue Fund | $ 25,638 | $ (34,824) | $ (9,186) |
| Net cost of operations after government funding and transfers | (32,772) | 34,824 | 2,052 |
| Departmental net financial position – Beginning of year | 44,402 | 526 | 44,928 |
| Departmental net financial position – End of year | 77,174 | (34,298) | 42,876 |
| Statement of Change in Departmental Net Debt | |||
| Net cost of operations after government funding and transfers | $ (32,772) | $ 34,824 | $ 2,052 |
| Net increase (decrease) in departmental net debt | (12,704) | 34,824 | 22,120 |
| Agency net debt – Beginning of year | 56,120 | (526) | 55,594 |
| Agency net debt – End of year | 43,416 | 34,298 | 77,714 |
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