Future-oriented statement of operations for the years ending March 31, 2019 and March 31, 2020 - Secretariat of the National Security and Intelligence Committee of Parliamentarians

For the year ending March 31

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Statement of Management Responsibility

Management is responsible for the Future-Oriented Statement of Operations, including responsibility for the appropriateness of the assumptions on which this statement is prepared. This statement is based on the best information available and on assumptions adopted as at December 31, 2018 and reflects the plans described in the Departmental Plan.

This statement has not been subject to an external audit or review.


Rennie Marcoux
Executive Director

Ottawa, Canada
April 11, 2019

Sean Jorgensen
Chief Financial Officer

Ottawa, Canada
April 11, 2019

Future-Oriented Statement of Operations (unaudited)

(in thousands of dollars)
  Forecast Results
2018–19
Planned Results
2019–20
Expenses
Assist the National Security and Intelligence Committee of Parliamentarians in fulfilling its mandate 
4,269
2,125
Internal Services 445 1,691
Total Expenses 4,714 3,816
Revenues
Miscellaneous revenues - -
Total Revenues - -
Net cost of operations before government funding and transfers 4,714 3,816

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

Notes to the Future-Oriented Statement 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 2018–19 is based on actual results as at December 31, 2018 and on forecasts for the remainder of the fiscal year. Forecasts have been made for the planned results for fiscal year 2019–20.

The main assumptions underlying the forecasts are as follows:

  1. The Secretariat of the National Security and Intelligence Committee of Parliamentarians' (the Secretariat) activities are fully implemented.
  2. Expenses, including the determination of amounts internal and external to the government, are forecasted based on information available on expenditures to date.

These assumptions are made as at December 31, 2018.

2. Variations and changes to the forecast financial information

Although every attempt has been made to forecast final results for the remainder of 2018–19 and for 2019–20, 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 Secretariat 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:

  1. the timing and the amount of acquisitions and disposals of property, equipment, which may affect gains, losses and amortization expense;
  2. the implementation of new collective agreements; and
  3. 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 Secretariat 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 2018–19, 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:

  1. Expenses

    The Secretariat 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.

  2. (b) Revenues

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

4. Parliamentary authorities

The Secretariat is financed by the Government of Canada through parliamentary authorities. Financial reporting of authorities provided to the Secretariat 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 Secretariat 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
2018–19
Planned Results
2019–20
Net cost of operations before government funding and transfers 4,714
3,816
Adjustments for items affecting net cost of operations but not affecting authorities:
Amortization of tangible capital assets (116) (233)
Services provided without charge by other government departments (96) (94)
Decrease (Increase) in employee future benefits
(58) 2
Total items affecting net cost of operations but not affecting authorities (270) (325)
Adjustments for items not affecting net cost of operations but affecting authorities:
Acquisition of tangible capital assets 2,328 -
Total items not affecting net cost of operations but affecting authorities 2,328 -
Requested authorities 6,772 3,491

b) Authorities requested

(in thousands of dollars)
  Forecast Results
2018–19
Planned Results
2019–20
Authorities requested
Vote 1: operating expenditures 6,573 3,272
Statutory amounts 199 219
Total authorities requested 6,772 3,491
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