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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.

Office of the Chief Electoral Officer
Condensed Statement of Operations and Departmental Net Financial Position (unaudited)
For the Year Ended March 31, 2015
(dollars)
Financial Information 201415
Planned
Results
201415
Actual
201314
Actual
Difference (201415 actual minus 201415 planned) Difference (201415 actual minus 201314 actual)
Total expenses 110,954,000 147,871,000 118,160,000 36,917,000 29,711,000
Total revenues
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 201415 over 201314 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.

Office of the Chief Electoral Officer
Condensed Statement of Financial Position (unaudited)
As at March 31, 2015
(dollars)
Financial Information 201415 201314 Difference
(201415 minus
201314)
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 201415 are at $31.2 million, an increase of $11.6 million (59%) from 201314. 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.

Financial Statements

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 201415.

Supplementary Information Tables

The supplementary information tables listed in the 201415 Departmental Performance Report are available on Elections Canada's website:

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.