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2013-2014 Estimates – Report on Plans and Priorities

Section III: Supplementary Information

Financial Highlights

The future-oriented condensed financial statements presented below are intended to serve as a general overview of Elections Canada's financial operations. They have been prepared on an accrual accounting basis. They differ from the figures presented in previous sections because those are based on authorities voted by Parliament on a modified cash basis.

Future-Oriented Condensed Statement of Operations and Agency Net Financial Position (Unaudited)
For the Year (ended March 31)
($ thousands)
  $ Change Forecast
2013–2014
Estimated Results
2012–2013
Total expenses (9,225) 122,097 131,322
Total revenues
Net cost of operations before government funding and transfers (9,225) 122,097 131,322
Agency net financial position 1,829 23,123 21,294

Elections Canada forecasts $122.1 million in expenses for 2013–2014. This represents a decrease of $9.2 million from the 2012–2013 estimated results, and is mainly the result of phasing out the quarterly allowances paid to political parties and finishing the work related to supporting the readjustment of federal electoral boundaries. The forecast for 2013–2014 includes the agency's operating expenses, wrap-up activities from the 41st general election, activities related to supporting the electoral boundaries readjustment process, the Office Consolidation and Relocation project, and quarterly allowances paid to political parties.


Future-Oriented Condensed Statement of Financial Position (Unaudited)
For the Year (ended March 31)
($ thousands)
  $ Change Forecast
2013–2014
Estimated Results
2012–2013
Total net liabilities (1,715) 22,057 23,772
Total net financial assets (2,647) 16,903 19,550
Agency net debt 932 5,154 4,222
Total non-financial assets 2,761 28,277 25,516
Agency net financial position 1,829 23,123 21,294

The total net liabilities forecast for 2013–2014 are $22.1 million; accounts payable and accrued liabilities account for 63 percent of this figure. This represents a net decrease of $1.7 million from the 2012–2013 estimated results and is mainly a result of phasing out the quarterly allowances paid to political parties. It reduces the amount payable at year-end and has a direct impact on the net financial assets for 2013–2014 (due from the Consolidated Revenue Fund).

The total non-financial assets forecast for 2013–2014 are $28.3 million, an increase of $2.8 million over the 2012–2013 estimated results. Included in this increase is $2.5 million in tangible capital assets.

The full set of future-oriented financial statements can be found on the Elections Canada website.Footnote 2

List of Supplementary Information Tables

All electronic supplementary information tables listed in this 2013–2014 Report on Plans and Priorities can be found on the Elections Canada website.

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


Footnote 2 www.elections.ca/content.aspx?section=res&dir=rep/rpp/rpp2013&document=fut&lang=e

Footnote 3 www.elections.ca/content.aspx?section=res&dir=rep/rpp/rpp2013&document=tpp&lang=e

Footnote 4 www.elections.ca/content.aspx?section=res&dir=rep/rpp/rpp2013&document=audit&lang=e

Footnote 5 www.fin.gc.ca/purl/taxexp-eng.asp