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2013-2014 Report on Plans and Priorities

Section III: Supplementary Information

Financial Highlights and Future-Oriented Financial Statements

The financial highlights presented here offer an overview of Environment Canada’s Future-Oriented Financial Statements. Detailed information can be found on Environment Canada’s website.

Future-Oriented Statement of Financial Position
For the Year (ended March 31)

(in thousands of dollars)
 Estimated
Results
2013
Planned
Results
2014
$ Change
Total Net Liabilities386,507333,052-53,455
Total Net Financial Assets131,932133,5431,611
Departmental Net debt254,575199,509-55,066
Total Non-Financial assets408,505418,4319,926
Departmental Net Financial Position153,930218,92264,992

The decrease in liabilities and in the departmental net debt is mainly attributable to a reduction of $49.9 million in liabilities related to employee future benefits.

Future-Oriented Statement of Operations
and Departmental Net Financial Position

For the Year (ended March 31)

(in thousands of dollars)
 Estimated
Results
2013
Planned
Results
2014
$ Change
Total Expenses1,208,6761,117,123-91,553
Total Revenues67,83165,549-2,282
Net Cost of Operations before Government Funding1,140,8451,051,574-89,271
Departmental Net Financial Position153,930218,92264,992

Total departmental expenses are expected to decrease by $91.6 million, or 7.6%, from $1,208.7 million in 2012–2013 to $1,117.1 million in 2013–2014. The overall decrease is mainly due to the conclusion of the three-year commitment to provide fast start financing under the Copenhagen Accord, a reduction of planned spending to foundations such as the Nature Conservancy of Canada (NCC), and sunsetting of various initiatives. In addition, additional savings as announced in Budget 2012 and a reduction of funding received from Treasury Board Central Votes regarding in-year adjustments and transfers explain the decrease in planned expenses between the two fiscal years. This contributes to the improvement of the Departmental Net Financial Position.

Supplementary Information Tables

The following tables are provided electronically as part of the Department’s 2013–2014 RPP submission to the Treasury Board of Canada Secretariat:

  • Details of Transfer Payment Programs (TPPs)
  • Up-front Multi-year Funding
  • Greening Government Operations
  • Horizontal Initiatives
  • Upcoming Internal Audits and Evaluations over the Next Three Fiscal Years
  • Sources of Respendable and Non-respendable Revenue
  • Summary of Capital Spending by Program

Tax Expenditures and Evaluations Report

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 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 sole responsibility of the Minister of Finance.

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