2014–15 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 (2014–15 actual minus 2014–15 planned)||Difference (2014–15 actual minus 2013–14 actual)|
|Net cost of operations before government funding and transfers||110,954,000||149,984,000||121,623,000||39,030,000||28,361,000|
|Agency net financial position||18,173,000||32,606,000||22,726,000||14,433,000||9,880,000|
The increase of $29.7 million (25%) in total expenses in 2014–15 over 2013–14 is mainly a result of the agency achieving essential readiness for the 2015 general election. Elections Canada put in place the systems, procedures, instructions, material and supplies, and trained the core personnel required to conduct the election. The agency had also implemented the changes flowing from the 2013 Representation Order, which increased the number of federal electoral districts from 308 to 338.
|Total net liabilities||31,223,000||19,607,000||11,616,000|
|Total net financial assets||26,825,000||14,825,000||12,000,000|
|Agency net debt||4,398,000||4,782,000||(384,000)|
|Total non-financial assets||37,004,000||27,508,000||9,496,000|
|Agency net financial position||32,606,000||22,726,000||9,880,000|
Total net liabilities for 2014–15 are at $31.2 million, an increase of $11.6 million (59%) from 2013–14. This change can largely be explained by the increase in accounts payables and accrued liabilities due to the increased spending in election readiness activities and in accrued employee salaries and benefits.
The audited financial statements for the Office of the Chief Electoral Officer for the year ended March 31, 2015, are available on the Elections Canada website.Footnote 19 They include the Statement of Management Responsibility Including Internal Control over Financial Reporting as well as the annex for fiscal year 2014–15.
Supplementary Information Tables
The supplementary information tables listed in the 2014–15 Departmental Performance Report are available on Elections Canada's website:
- Details on Transfer Payment Programs of $5 Million or MoreFootnote 20
- Internal Audits and EvaluationsFootnote 21
- Response to Parliamentary Committees and External AuditsFootnote 22
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 Canada publishes cost estimates and projections for these measures annually in the Tax Expenditures and EvaluationsFootnote 23 publication. The tax measures presented in the Tax Expenditures and Evaluations publication are the responsibility of the Minister of Finance.