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Section 3 : Supplementary Information
Financial Highlights
The financial highlights presented within this Departmental Performance Report are intended to serve as a general overview of ACOA's financial position and operations. Financial statements are prepared in accordance with accrual accounting principles. The unaudited supplementary information presented in the financial tables in this report was prepared on a modified cash basis of accounting in order to be consistent with appropriations-based reporting.
The Agency's financial statements can be found on ACOA's website at: http://www.acoa- apeca.gc.ca/English/publications/ParliamentaryReports/ Pages/PerformanceReportforthePeriodEndingMa rch31_2009_other.aspx
|
Financial Highlights |
|||
|---|---|---|---|
| % Change | 2009 ($ millions) |
2008 ($ millions) |
|
| At end of year (March 31): | |||
| Condensed Statement of Financial Position | |||
| Assets | |||
| Total assets | 4 | 241 | 232 |
| Total | 4 | 241 | 232 |
| Liabilities | |||
| Total liabilities | -19 | 92 | 113 |
| Equity | |||
| Total equity | 25 | 149 | 119 |
| Total | 4 | 241 | 232 |
| For the year ended March 31: | |||
| Condensed Statement of Operations | |||
| Expenses | |||
| Total expenses | -14 | 298 | 347 |
| Revenues | |||
| Total revenues | -21 | 11 | 14 |
| Net Cost of Operations | -14 | 287 | 333 |
Total assets at the end of 2008-2009 were $241 million, an increase of $9 million (4%) over the previous year's total assets of $232 million. Loans represented 89.4% of total assets, at $215 million, and prepaid expenses represented 8.1% of total assets. Accounts receivable represented $5 million or 2.3%, while tangible capital assets represented less than 1% of total assets.
Total liabilities at the end of 2008-2009 were $92 million, a decrease of $21 million (19%) over the previous year's total liabilities of $113 million. Accounts payable represent the largest portion of liabilities, at $79 million or 85.8% of total liabilities.
The Agency's total revenues for 2008-2009 amounted to $11 million. There was a decrease of $3 million (21%) from the previous year's revenue. Almost all of ACOA's
revenue was derived from repayable contributions from activity undertaken to support the program activity Enterprise Development. All the other levels of revenue were marginal for
2008-2009.
Total expenses for ACOA were $298 million in 2008-2009. The majority of funds, $171 million or 58%, was spent in Enterprise Development, while Community Development represented $113 million or 38% of total expenses.
ACOA's actual spending in 2008-2009 was $341.4 million in comparison with $298 million in the financial statements. The difference is due to the unconditionally repayable contributions. Due to their nature, they are accounted for as assets in ACOA's financial statements and not as expenses.
Supplementary Information Tables
The following supplementary information tables can be found on the website of the Treasury Board of Canada Secretariat at http://www.tbs-sct.gc.ca/dpr-rmr/st-ts-eng.asp.
- Sources of Non-respendable Revenue
- Details on Transfer Payment Programs
- Horizontal Initiatives
- Sustainable Development Strategy
- Green Procurement
- Response to Parliamentary Committees and External Audits
- Evaluations and Internal Audits
Other Items of Interest
Information on ACOA's organizational structure is available on the Agency's website at http://www.acoa-apeca.gc.ca/English/WhoWeAre/OurPeople/Pages/home.aspx.
The following additional reports are available on ACOA's website at: http://www.acoa- apeca.gc.ca/English/publications/ParliamentaryReports/Pages/PerformanceReportforthePeriodEndingMa rch31_2009_other.aspx
- Business Development Program - Repayable Contributions Portfolio
- Atlantic Canada's 2008-2009 Economic Overview and Provincial Economic Profiles
- Tourism Sector
- Results-based Management
- Client-centred Service
- Information on sub-activities of ACOA's Program Activity Architecture
- Innovation
- Entrepreneurship and Business Skills Development
- Trade
- Investment
- Financing Continuum
- Community Mobilization
- Community-based Business Development
- Community Investment
- Infrastructure Programming
- Policy
- Advocacy
- Coordination
[1] This five-year target is aligned with ACOA's Five-Year Report to Parliament, last tabled in Parliament for the fiscal year ending in 2008. As such, results will be monitored and reported again in 2013.
[2] Small Business and Special Surveys Division, Statistics Canada - February 2009.
[3] Further information on ACOA's Trade sub-activity, including new exporters, is available online through the link provided in Section 3 of this departmental performance report, in the sub-section entitled "Other Items of Interest".
[4] ACOA Awareness and Perception Study, POR-257-07. Total of 400 businesses were surveyed by phone in 2008. Results are accurate within +/- 4.9%, 19 times out of 20.
