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ARCHIVED - Hazardous Materials Information Review Commission - Report

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Section III – Supplementary Information

Financial Highlights

**($ thousands)**
Condensed Statement of Financial Position At End of Year (March 31, 2010)	% Change	2008–09	2009–10
Assets
Total Assets	-32.3%	734,773 ⁵	497,624 ⁶
Liabilities
Total Liabilities	-1.6%	1,501,958	1,364,025
Equity
Total Equity	-27.8%	(767,185)	(866,401)
Total	-32.3%	734,773	497,624

**($ thousands)**
Condensed Statement of Operations At End of Year (March 31, 2010)	2008–09	2009–10
Expenses
Total Expenses	5,826,696	6,721,811
Revenues
Total Revenues	578,393	363,287
Net Cost of Operations	5,248,303	6,358,524

⁵ During the year, HMIRC adopted the revised Treasury Board Accounting Standard TBAS 1.2: Departmental and Agency Financial Statements which is effective for the Commission for the 2010-2011 fiscal year. The major change in the accounting policies of the Commission required by the adoption of the revised TBAS 1.2 is the recording of amounts due from the Consolidated Revenue Fund as an asset on the Statement of Financial Position. The adoption of the new Treasury Board accounting policies has been accounted for retroactively.

⁶ Assets are comprised mainly of accounts receivable for accrued salary recoveries for staff on loan to other departments and the fiscal year 2009-2010 Operational Budget Carry Forward due to HMIRC from the Consolidated Revenue Fund.