Crown corporations glossary of terms 

Borrowings
– contracts entered into for the use of money such as certificates of indebtedness (bonds), notes and loans payable. [Source: Receiver General Manual, chapter 18]
Borrowings from Canada
– include short- and long-term borrowings, advances from the Government of Canada for working capital or other purposes, and other debt-like instruments. [Source: ARTP – Crown Corporations]
Borrowings from the private sector
– include short- and long-term borrowings, capital leases and any other debt-like instruments. For the Canadian Dairy Commission and Freshwater Fish Marketing Corporation, loans may include payments accruing to dairy producers and fishers. [Source: ARTP – Crown Corporations]
Budgetary appropriations
– refers to parliamentary funding for capital and operating purposes. The amounts exclude grants and contributions paid to Crown corporations where they qualify as members of a general class of recipients. Budgetary appropriations increase the expenditures of Canada and thus have a direct impact on the amount of the government's surplus or deficit. [Source: ARTP – Crown Corporations]
Consolidated Crown Corporation
– a Crown corporation that relies on Government funding as its principal source of revenue. [Source: Receiver General Manual, chapter 18]
Contingent liability
– potential liabilities that may become actual liabilities when one or more future events occur or fail to occur. [Source: Receiver General Manual, chapter 18]
Contractual obligation
– represents a written obligation to outside organizations or individuals as a result of contracts and from a financial perspective will become a liability in the future. [Source: Receiver General Manual, chapter 18]
Corporate Interests
– refers to a corporate entity in which the Government of Canada has a degree of influence as determined by ownership of shares in the corporation and / or, notably, the right to appoint members to its board of directors. This does not include corporations created by federal legislation or third parties for which the only ongoing interest is transfer of funds, (i.e., without share ownership or right to appoint board members). The principal forms of federal corporate interests, include, but are not limited to, mixed and joint enterprises, shared-governance corporations and international organizations. [Source: Appendix B. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Corporations under the terms of the Bankruptcy and Insolvency Act
– this group includes corporate entities whose shares are partially owned by Canada, following receipt by a trustee in bankruptcy. [Source: Appendix B. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Crown corporation
– a corporation that falls within the definition of section 83 or section 85 of the FAA. These include the corporations listed in Parts I and II of Schedule III of the FAA as well as the Bank of Canada, the Canada Council for the Arts, the Canadian Broadcasting Corporation, Telefilm Canada, the International Development Research Centre, and the National Arts Centre Corporation (see the complete list in Appendix A). It also includes any unconsolidated wholly owned subsidiaries. [Source: Receiver General Manual, chapter 18]
Current liabilities
– represents all current year liabilities reported by the corporation in its audited financial statements. [Source: ARTP – Crown Corporations]
Creation
– is the process by which a new a federal government institution or corporate interest is established. [Source: Appendix C. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Departments
– are the primary vehicles through which government policies and programs are d elivered, with broad policy mandates. Ministerial or line departments refer to those organizations listed in Schedule I of the Financial Administration Act, which are created by statute that set out the Minister's area of jurisdiction and prescribe his responsibility for direction and management. A ministerial department is legally under the control of the responsible Minister (i.e., without independent legal personality), and therefore the least autonomous institution through which the Crown carries on business. [Source: Appendix A. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Departmental Corporation
– are corporations created by Acts of Parliament and are listed in Schedule II of the Financial Administration Act. They report to Parliament through a Minister, but usually function with greater autonomy from the core public administration than do ministerial departments and perform administrative, research, advisory, supervisory or regulatory functions. There governing bodies have roles specified in their constituent legislation, which vary in their nature, functions, program responsibilities and the extent of any management oversight responsibilities; some do not have any management oversight responsibilities. [Source: Appendix A. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Devolution
– is the transfer of a federal entity to another level of government, or to a community or stakeholder group, without any further federal responsibility for the program/activity but continued ownership of the federal land (e.g. transfer of responsibility for the operations of airports to local airport authorities). [Source: Appendix C. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Dissolution
– is the termination or liquidation of a federal entity. [Source: Appendix C. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Divestiture
– is the disposition of a federal entity by outright sale, employee purchase or takeover. Normally all associated federal lands are also transferred/sold. If an entity is divested to a non-government owner, that can also be referred to as a privatization. [Source: Appendix C. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Dividends
– represents those declared by the corporation during its fiscal year. This figure includes cash recoveries by Canada (where applicable) and other types of payments or contributions made to Canada (excluding repayments of debt-like instruments). Dividends may be paid by the corporation to the Government of Canada before or after the corporation's year-end. [Source: ARTP – Crown Corporations]
Employment
– In the context of the financial information required for the Annual Report to Parliament – Crown Corporations and Other Corporate Interests of Canada: represents the number of full-time employees obtained from sources such as an annual report, financial statements, or a corporate plan and are as at the fiscal year-end of the Crown corporation. The figure includes the full-time staff and others employed outside of Canada by the parent corporation and its wholly owned subsidiaries. The exceptions are data for the Canada Development Investment Corporation, which relate to the parent corporation only, and data for the four pilotage authorities, which include contract pilots. [Source: ARTP – Crown Corporations]
Enterprise Crown Corporation
– a corporation which is not dependent on parliamentary appropriations and whose principal activity and source of revenues are the sale of goods and services to outside parties. [Source: Receiver General Manual, chapter 18]
Equity
– represents the equity of Canada. For some corporations, the excess of assets over liabilities is not deemed to be equity of Canada because of the nature of their operations (e.g. marketing boards). [Source: ARTP – Crown Corporations]
Federal Government Institutions
– for the purposes of the of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat of Federal Institutions and Corporate Interests to Treasury Board Secretariat, a federal government “institution” is any body, established by legal instrument by the federal government for public policy ends, including the delivery of programs and services. For clarity, a federal government institution does not include a partnership, a horizontal arrangement, contracting out, the creation of a committee or the recipient of grants or contributions. The principal forms of federal government institutions as they exist in the Government of Canada are departments, special operating agencies, statutory and other agencies, departmental corporations and service agencies.[Source:Appendix A. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Government body
– an organization including a department, an agency and any other organization that is part of the Government of Canada as an accounting entity. [Source: Receiver General Manual, chapter 18]
Government of Canada (Government)
– as a reporting entity, the Government of Canada comprises all organizations that are controlled by the Government. Insurance program or guarantee fund – is a program where the insured, an outside party (not employees), pays an insurance fee which is credited to an insurance fund or guarantee fund or provision operated or maintained by the Crown Corporation or other entity. The amount of the fee is based on the estimated amount of insurance fund or provision needed to meet future claims and administrative expenses. Insurance programs such as employee group insurance, dental plans, etc., are not included in this definition. [Source: Receiver General Manual, chapter 18]
International organizations
– are corporate entities, created pursuant to international agreements under which Canada holds shares or has a right to appoint or elect some number of members to a governing body. [Source: Appendix B. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Joint enterprises
– are corporate entities, whose shares are partially owned by Canada, through a Minister. However, the balance of shares is owned by another level of government, generally a province. [Source: Appendix B. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Long-term liabilities
– represents all long-term (over several years) liabilities reported by the corporation in its audited financial statements, including deferred capital funding. [Source: ARTP – Crown Corporations]
Mixed enterprises
– are corporate entities, whose shares are partially owned by Canada, through a Minister. Private sector parties own the remaining shares. [Source: Appendix B. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Net income
– represents after-tax income, where applicable, and any extraordinary items. It includes parliamentary appropriations where the corporation has included these in the computation of net income. In some cases, net income is the “excess of parliamentary appropriations over cost of operations” or “excess of proceeds over expenditures.” A negative net income (i.e. a net loss) is shown in parentheses. [Source: ARTP – Crown Corporations]
Other entities
- organizations not listed in the Financial Administration Act (FAA) meeting the definition of control for financial reporting purposes and dependent on the appropriations as a primary source of funding. These organizations are included in the Government reporting entity if their revenues, expenses, assets, or liabilities are significant. Also, see definition on corporate interests. [Source: Receiver General Manual, chapter 18]
Other government business enterprise
– an organization that is not a Crown corporation, within the meaning of the FAA, but which is controlled by the Government and in most cases accountable to Parliament through a Minister of the Crown for the conduct of their affairs. It is however, not dependent on parliamentary appropriations and its principal activity and source of revenues are the sale of goods and services to individuals and organizations outside of the Government reporting entity. Also, see definition on corporate interests. [Source: Receiver General Manual, chapter 18]
Other reporting entities
– refers to “Other government business enterprises”, “Corporate Interests” and “Other entities” (see above). [Source: Receiver General Manual, chapter 18]
Service Agency
– are listed as departmental corporations under Schedule II of the Financial Administration Act. They are distinct primarily in that they operate with tailored legislation and reporting frameworks, and have operational functions focused on service. [Source: Appendix A. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Shared-governance corporations
– include corporate entities without share capital for which Canada, either directly or through a Crown corporation, has a right, pursuant to statute, articles of incorporation, letters patent, by-law or any contractual agreement (including funding or contribution agreements) to appoint or nominate one or more voting members to the governing body. [Source: Appendix B. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Special Operating Agency (SOA)
– are operational units within a department or agency, which have some management flexibility, independence and separate accountability. They function within a framework agreement approved by the Deputy Minister, the Minister and the Treasury Board, without legislation. SOAs have a clear mandate and the services they provide are readily identifiable and operational in nature (e.g., administrative, supervisory, advisory, regulatory, and adjudicative). They follow the departmental legislative framework and authorities, although they may be granted special flexibility for financial, human resources or other specified objectives (potentially including separate employer status). [Source:Appendix A. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Statutory and Other Agencies
– refer to organizations listed in Schedule I.1 of the Financial Administration Act. These agencies have more narrowly defined mandates than ministerial departments, generally specified in their constituent acts or other instruments. They can be formed with a statute or be created by Order-in-Council. Their specific functions vary widely but tend to be operational in nature. They usually operate at a distance from government and the degree of their autonomy varies considerably by organization and their function – from those that operate more like ministerial departments to tribunals and other adjudicative bodies whose decisions must be and be seen to be free from ministerial influence. [Source: Appendix A. of the Policy on Reporting of Federal Institutions and Corporate Interests to Treasury Board Secretariat]
Total assets
– represents all assets reported by the corporation in its audited financial statements. [Source: ARTP – Crown Corporations ]
Unconsolidated wholly-owned subsidiary
– a corporation that is wholly-owned by one or more parent Crown corporations directly or indirectly through any number of subsidiaries each of which is wholly-owned directly or indirectly by one or more parent Crown corporations.[Source: Receiver General Manual, chapter 18]

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