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Performance Report – For the period ending March 31, 2013

Section III: Supplementary Information

Financial Highlights

The financial highlights presented in this section are drawn from Elections Canada's financial statements. These financial statements have been prepared using Government of Canada accounting policies, which are based on Canadian public sector accounting standards. This method of accounting, known as the accrual basis of accounting, differs from the method used to present the figures in the previous sections; those figures are based on authorities voted by Parliament on a modified cash basis.

Condensed Statement of Operations and Departmental Net Financial Position

Elections Canada
Condensed Statement of Operations and Departmental Net Financial Position (Unaudited)
for the Year Ended March 31, 2013
($ thousands)
2012–13
Planned Results
2012–13
Actual
2011–12
Actual
$ Change (2012–13 Planned vs. Actual) $ Change (2012–13 Actual vs. 2011–12 Actual)
Total expenses 150,526 128,488 363,731 22,038 (235,243)
Total revenues
Net cost of operations after government funding and transfers 5,392 2,153 3,236 3,239 (1,083)
Agency net financial position 7,708 15,355 17,508 (7,647) (2,153)

The decrease of $22 million in total expenses in 2012–2013 (planned over actual) is a result of the following:

The decrease of $235 million in total expenses in 2012–2013 over 2011–2012 is largely a result of the 41st general election, held on May 2, 2011.

Condensed Statement of Financial Position

Elections Canada
Condensed Statement of Financial Position (Unaudited)
as at March 31, 2013
($ thousands)
2012–13 2011–12 $ Change
Total net liabilities 19,620 32,207 (12,587)
Total net financial assets 14,380 28,211 (13,831)
Net debt 5,240 3,996 1,244
Total non-financial assets 20,595 21,504 (909)
Agency net financial position 15,355 17,508 (2,153)

Total net liabilities for 2012–2013 are $19.6 million, a decrease of $12.6 million from 2011–2012. Of this decrease, approximately $3.6 million are accounts payable and $8.2 million are accrued liabilities. The change in accrued liabilities is explained by the reduction in reimbursements to candidates for the 41st general election and political parties' quarterly allowances when compared to the previous year.

Total net financial assets for 2012–2013 are $14.4 million, a decrease of $13.8 million from 2011–2012. This is explained by the fact that 2011–2012 was an election year.

Total non-financial assets for 2012–2013 are $20.6 million, a decrease of $1 million from 2011–2012. This change can largely be explained by the review of consumable supplies in stock, which led to the write-down of outdated electoral forms and other materials.

The overall changes in assets and liabilities are reflected in the agency net financial position.

Financial Statements

The audited financial statements for the Office of the Chief Electoral Officer for the year ended March 31, 2013, are available on the Elections Canada website.Footnote 15 They include the Statement of Management Responsibility Including Internal Control over Financial Reporting as well as the annex for fiscal year 2012–2013.

List of Supplementary Information Tables

All electronic supplementary information tables included in this 2012–2013 Departmental Performance Report can be found on the Elections Canada website.Footnote 16

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 EvaluationsFootnote 17 publication. The tax measures presented in the Tax Expenditures and Evaluations publication are the sole responsibility of the Minister of Finance.