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Performance Report – For the period ending March 31, 2012

Section III: Supplementary Information

Financial Highlights

Condensed Statement of Financial Position (Audited)
As at March 31, 2012 ($ thousands)
Percentage Change 20112012 20102011
Total net liabilities (15.3) 32,207 38,024
Total net financial assets (7.2) 28,211 30,406
Agency's net debt (47.5) 3,996 7,618
Total non-financial assets (24.2) 21,504 28,362
Agency's net financial position (15.6) 17,508 20,744

Net liabilities for 20112012 were $32.2 million, a decrease of $5.8 million from 20102011. Of this decrease, approximately $4.1 million was in accrued employee salaries and benefits, of which $3.6 million was related to field election workers' salaries for the preparation and delivery of the 41st general election. The remaining decrease of $1.7 million in liabilities is largely a result of the payout of employee severance benefits in 20112012.

Net financial assets for 20112012 were $28.2 million, a decrease of $2.2 million from 20102011. This change can largely be explained by the decrease in accrued employee salaries and benefits.

Non-financial assets for 20112012 were $21.5 million, a decrease of $6.9 million from 20102011. This change can largely be explained by the decrease in consumable electoral supplies and prepaid expenses to rent local Elections Canada offices for the 41st general election.

Condensed Statement of Operations and Departmental Net Financial Position (Audited)
For the Year Ended March 31, 2012 ($ thousands)
Percentage Change 20112012 20102011
Total expenses 128 363,731 159,816
Total revenues 0 0 0
Net cost of operations before government funding and transfers (27.8) 3,236 4,479
Agency's net financial position (15.6) 17,508 20,744

There was an increase of $204 million in total expenses in 20112012 over 20102011. This increase is largely a result of the 41st general election, held on May 2, 2011.

The condensed financial statements and associated highlights have been prepared on an accrual accounting basis. They differ from the figures presented in previous sections, which are based on authorities voted by Parliament on a modified cash basis.

Financial Statements

More detailed financial statements can be found on the Elections Canada website at www.elections.ca/content.aspx?section=res&dir=rep/dpr/dpr2012&document=financial&lang=e.

List of Supplementary Information Tables

All electronic supplementary information tables included in this 20112012 Departmental Performance Report can be found at www.elections.ca/content.aspx?section=res&dir=rep/dpr/dpr2012&document=sup-info&lang=e.