Additional Reporting Requirements for 2014-15 Departmental and agency Quarterly Financial Reports

Date:

Message from: Michel Vaillant, A/Executive Director, Government Accounting Policy & Reporting

To: Deputy Chief Financial Officers

This is to advise departments and agencies of disclosure requirements in relation to the one-time transition payment made on , for the implementation of payment in arrears for salary payments for fiscal year 2014-15. The objective of this communication is to ensure a consistent approach in all departments and agencies.

The one-time transition payment should be disclosed in the respective authority in the Statement of Authorities according to the authority code used in the accounting entry to record the transition payment as communicated by the Receiver General on . In addition, in accordance with this same communication, the transition payment recorded in economic object 5399 should be reported in standard object for “Other subsidies and payments” (standard object 12) in the table for departmental budgetary expenditures by standard object.

Please note that any significant variances, for example in planned expenditures or expensed amounts caused by the one-time transition payment should be explained in the highlights of fiscal quarter and fiscal year to date results. The following proposed text can be used to explain any significant variances:

  • The increase of $ [Amount] thousands for [insert explanation of the variance] is due to a one-time transition payment of $ [Amount] thousands for implementing salary payment in arrears by the Government of Canada.

Materiality should be considered in determining the level of detail provided in all of sections of the report.

If you have any questions on the disclosure of the one-time transition payment in quarterly financial reports, please do not hesitate to contact Andrée Pelchat by e-mail or at 613-957-9853, or Anik Chantigny by e-mail or at 613-952-0896.

Michel Vaillant
A/Executive Director, Government Accounting Policy & Reporting | Directeur exécutif par intérim, Comptabilité gouvernementale, Politique & Rapport
Financial Management Sector | Secteur de la gestion financière
Office of the Comptroller General | Bureau du contrôleur général
Treasury Board of Canada Secretariat | Secrétariat du Conseil du Trésor du Canada
Ottawa, Canada K1A 0R5
Michel.Vaillant@tbs-sct.gc.ca

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