2013–14 Departmental Performance Report
Section III: Supplementary Information
Financial Statements 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.
|Difference (2013–14 Actual Minus 2013–14 Planned)||Difference (2013–14 Actual Minus 2012–13 Actual)|
|Net cost of operations before government funding and transfers||122,097||121,623||128,488||(474)||(6,865)|
|Departmental net financial position||23,123||22,726||15,355||(397)||7,371|
The decrease of $6.9 million (5%) in total expenses in 2013–14 over 2012–13 is a result of the capitalization of software applications and reductions of the following: the payout of employee severance benefits; the amortization of capital assets; and inventory, including write-downs.
|Total net liabilities||19,607||19,620||(13)|
|Total net financial assets||14,825||14,380||445|
|Departmental net debt||4,782||5,240||(458)|
|Total non-financial assets||27,508||20,595||6,913|
|Departmental net financial position||22,726||15,355||7,371|
Total net liabilities of $19.6 million for 2013–14 remained close to the total for 2012–13.
Total net financial assets for 2013–14 are $14.8 million, an increase of $0.4 million (3%) from 2012–13. This change can largely be explained by the increase in accounts receivable and advances.
Total non-financial assets for 2013–14 are $27.5 million, an increase of $6.9 million (33%) from 2012–13. This change can largely be explained by the increase in tangible capital assets, notably in software under development (voter registration system), furniture and fixtures, and leasehold improvements related to the consolidation and relocation of the agency's offices to Gatineau.
For these same reasons, and because some employees received severance payments during the fiscal year, Elections Canada's net financial position improved by 48% in 2013–14.
The audited financial statements for the Office of the Chief Electoral Officer for the year ended March 31, 2014, are available on the Elections Canada website.Footnote 20 They include the Statement of Management Responsibility Including Internal Control over Financial Reporting as well as the annex for fiscal year 2013–14.
Supplementary Information Tables
The supplementary information tables listed in this 2013–14 Departmental Performance Report can be found on Elections Canada's website:
- Details on Transfer Payment ProgramsFootnote 21
- Response to Parliamentary Committees and External AuditsFootnote 22
- Internal Audits and EvaluationsFootnote 23
Tax Expenditures and Evaluations
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 24 publication. The tax measures presented in the Tax Expenditures and Evaluations publication are the sole responsibility of the Minister of Finance.