Supplementary Information - 2013–14 Departmental Performance Report - Treasury Board of Canada Secretariat
Section III: Supplementary Information
Financial Statements Highlights
The highlights presented in this section are drawn from the Secretariat’s financial statements and are prepared on an accrual basis. These financial statements have been prepared using Government of Canada accounting policies, which are based on Canadian public sector accounting standards.
The variance between the figures that follow and the figures provided in other sections of this report relate to such items as non-respendable revenues, services without charge received from other government departments, amortization and accrued liability adjustments.
| 2013–14 Planned Results | 2013–14 Actual | 2012–13 Actual | Difference (2013–14 actual minus 2013–14 planned) | Difference (2013–14 actual minus 2012–13 actual) | |
|---|---|---|---|---|---|
| Note: Refer to financial statements for further detail. |
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| Total expenses | 2,968,686,941 | 2,959,400,132 | 2,784,834,031 | -9,286,809 | 174,566,101 |
| Total net revenues | 13,690,701 | 10,480,950 | 10,524,573 | -3,209,751 | -43,623 |
| Net cost of operations before government funding and transfers | 2,954,996,240 | 2,949,030,630 | 2,775,529,333 | -5,965,610 | 173,501,297 |
| Departmental net financial position | -55,932,258 | -79,040,774 | -23,758,925 | -23,108,516 | -55,281,849 |
The Secretariat’s expenses include $2.6 billion for government-wide programs such as the employer’s share of the Public Service Health Care Plan, the Public Service Dental Care Plan, and other insurance and pension programs. Revenues of $10.5 million are mainly comprised of government-wide parking revenues, internal support services offered to other departments, and the recovery of Public Service Pension Plan administration costs.
The increase in total actual expenses in 2013–14 of $175 million as compared with 2012–13 actuals is mainly due to an increase in payments for government-wide programs, such as the employer’s share of the Public Service Health Care Plan and the Pensioners’ Dental Care Plan, and group disability and life insurance premiums and accrued expenses related to claims against the Crown. The increase is partially offset by reductions attributable to the Economic Action Plan 2012 cost-containment measures and the effect of capital asset writeoffs in 2012–13.
| 2013–14 | 2012–13 | $ Difference (2013–14 minus 2012–13) | |
|---|---|---|---|
| Note: Refer to financial statements for further detail. |
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| Total liabilities | 536,281,794 | 478,639,451 | 57,642,343 |
| Total net financial assets | 444,376,578 | 446,774,005 | -2,397,427 |
| Departmental net debt | 91,905,216 | 31,865,446 | 60,039,770 |
| Total non-financial assets | 12,864,442 | 8,106,521 | 4,757,921 |
| Departmental net financial position | -79,040,774 | -23,758,925 | -55,281,849 |
The Secretariat’s assets consist mainly of accounts receivable from other government departments and agencies. Its liabilities consist mainly of accounts payable to these government organizations, and of accrued amounts related to claims for benefits under the Public Service Health Care Plan, the Public Service Dental Care Plan and the Pensioners’ Dental Services Plan.
The increase in total liabilities, the departmental net debt and the departmental net financial position are mainly explained by an increase in accounts payable and accrued liabilities ($73 million), which is partially offset by a decrease in employee future benefits ($15.3 million).
Financial Statements
See the complete Treasury Board of Canada Secretariat Financial Statements for the Year Ended March 31, 2014, which include the Statement of Management Responsibility Including Internal Control Over Financial Reporting and its Annex for fiscal year 2013–14.
Supplementary Information Tables
The supplementary information tables listed in the 2013–14 Departmental Performance Report can be found on the Treasury Board of Canada Secretariat’s website.
- Departmental Sustainable Development Strategy;
- Horizontal Initiatives;
- Internal Audits and Evaluations;
- Response to Parliamentary Committees and External Audits;
- Sources of Respendable and Non-Respendable Revenue;
- Status Report on Projects Operating With Specific Treasury Board Approval;
- User Fees Reporting; and
- Annex to the Statement of Management Responsibility Including Internal Control Over Financial Reporting
Tax Expenditures and Evaluations
The tax system can be used to achieve public policy objectives through the application of special measures such as low tax rates, exemptions, deductions, deferrals and credits. The Department of Finance Canada publishes cost estimates and projections for these measures annually in the Tax Expenditures and Evaluations publication. The tax measures presented in the Tax Expenditures and Evaluations publication are the responsibility solely of the Minister of Finance.