2004-2005 Departmental Financial Statements

TO: All Senior Financial Officers and Senior Full-Time Financial Officers 

Thank you for your efforts last year in preparing the 2003-2004 financial statements.  As in the previous year, there was a great improvement in timeliness, form and content.

The submission date for the 2004-05 departmental financial statements is June 30, 2005. The statements must be the final version signed off by the Deputy Head and Senior Financial Officer.  This submission date does not apply to departmental corporations and revolving funds: these organizations must continue to respect the Receiver General cut-off dates for the Public Accounts.

As announced by the President of the Treasury Board, the government has made the commitment to have all departmental financial statements audited by March 2009.  We are currently working on the guidance and support needed to implement this objective, including a revised Treasury Board Accounting Standard - Departmental and Agency Financial Statements (TBAS 1.2.  For the 2004-2005 financial statements, departments should prepare their financial statements following the version of TBAS 1.2 used last year.

Please note that, departments subject to the December 12, 2003 reorganization should restate the 2003-2004 comparatives in the statements, where possible.  

The statements, as well as any questions, should be directed to:

Ken Wheat
Office of the Comptroller General
L'Esplanade Laurier, 8^th Floor, West Tower
300 Laurier Ave. West
Ottawa, Ontario
K1A 0R5

Fax:  (613) 941-8487
Phone: (613) 957-9676

e-mail: Wheat.Kenneth@tbs-sct.gc.ca