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Section III: Supplementary Information

Financial Highlights

($ millions)

Condensed Statement of Financial Position At End of Year (March 31, 2011)	% Change	2010-11	2009-10(Restated)(note 1)
Assets
Total Assets	13.9%	8.2	7.2
Total	13.9%	8.2	7.2
Liabilities
Total Liabilities (note 2)	4.8%	13.1	12.5
Equity
Total Equity (note 2)	-7.5%	-4.9	-5.3
Total	13.9%	8.2	7.2

($ millions)

Condensed Statement of Financial Position At End of Year (March 31, 2011)	% Change	2010-11	2009-10
Revenues
Total Revenues	-67%	165.0	498.5
Expenses
Total Expenses	-88%	60.2	502.1
Net Cost of Operations (note 2)		104.8	-3.6

Note 1: During the year, the CRTC adopted the revised Treasury Board accounting policy TBAS 1.2: Departmental and Agency Financial Statements which is effective for the CRTC for the 2010-11 fiscal year. The major change in the accounting policies of the CRTC required by the adoption of the revised TBAS 1.2 is the recording of amounts due from the CRF as an asset on the Statement of Financial Position. The adoption of the new TBAS have been accounted for retroactively and the impact on the comparative figures are shown in the following table:

$million	2009-10 as previously stated	Effect of Change	2009-10 restated
Statement of Financial Position
Assets	$4.1	$3.1	$7.2
Equity of Canada	-$8.4	$3.1	-$5.3

Financial Highlights Charts or Graph

[text version]

Total assets have increased from $7.2M (restated) in 2009-10 to $8.2M in 2010-11. An increase of over $0.6M is attributable to the Due from the Consolidated Revenue Fund (CRF). The balance of the increase is attributable to the accounts receivable and advances and tangible capital assets. The prepaid expenses are comparable from one year to the other.

[text version]

Total liabilities have increased by $0.6M from 2009-10 to 2010-11. Most of this increase is attributable to the accounts payable and accrued liabilities and to the accrued employee severance benefits. Vacation pay and compensatory leave have decreased.

[text version]

Total revenues have decreased from $498.5M in 2009-10 to $165M in 2010-11. The decrease is mainly attributable to the Part II fees and related interest.

During FY 2009-10, the CRTC recognized in the Public Accounts of Canada and its financial statements the total amount of Part II fees and accrued interest that would have been payable by broadcasters during the three year period FY 2007-08, FY 2008-09 and FY 2009-10 (i.e. for those fees that would have been due and payable on 30 November 2007, 2008 and 2009).  This amounted to $433 million ($415 million in fees and $18 million in interest).  This total amount was also written off by the CRTC as a bad debt expense in accordance with the authority provided for in the Government’s remission order PC Number 2009-1715 dated October 7, 2009 http://www.pco-bcp.gc.ca/OIC-DDC.asp?lang=eng&Page=secretariats&txtOICID=&txtFromDate=2009-10-07&txtToDate=2009-10-07&txtPrecis=&txtDepartment=&txtAct=&txtChapterNo=&txtChapterYear
=&txtBillNo=&rdoComingIntoForce=&DoSearch=Search+%2F+List&viewattach=21597

In FY 2010-11 – As a follow up to the recommendation of the Government following the out of court settlement on October 7, 2009, during FY 2010-11 the CRTC implemented a new fee regime with a cap of $100 million for the Part II broadcasting licence fees. Commencing in 2011, this amount will be adjusted annually on a compound basis in accordance with the percentage increase or decrease, as the case may be, to the Consumer Price Index (CPI) for the calendar year prior to the year of the adjustment.  The CPI is the annual average all-items CPI for Canada that is published by Statistics Canada.  (See CRTC Broadcasting Regulatory Policy CRTC 2010—476 for additional information http://www.crtc.gc.ca/eng/archive/2010/2010-476.htm)

[text version]

Total expenses have decreased from $502.1M in 2009-10 to $60.2M in 2010-11. The decrease is mainly attributable to the write off of the Part II Fees and related interest as a bad debt expense in accordance with the authority provided for in the Government’s remission order PC Number 2009-1715 dated October 7, 2009.

Financial Statements

Full unaudited Financial Statements of the CRTC for 2010-11, including the Statement of Management Responsibility, are available online at http://www.crtc.gc.ca/eng/publications1.htm

List of Supplementary Information Tables

All electronic supplementary information tables in the 2010-11 Departmental Performance Report can be found on the Treasury Board of Canada Secretariat website at http://www.tbs-sct.gc.ca/dpr-rmr/2010-2011/index-eng.asp

The tables for Sources of Respendable and Non-Respendable Revenue and CRTC User Fees/External Fees are also available on the Treasury Board of Canada website.

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Section IV: Other Items of Interest

Organizational Contact Information

A list of CRTC contacts and offices can be found at www.crtc.gc.ca/eng/contact.htm

Streamlined process and service standards

Service standards and performance measure for processing Broadcasting applications

http://www.crtc.gc.ca/eng/publications/reports/standards2010.htm

Service standards and performance measure for processing telecommunications applications

http://www.crtc.gc.ca/eng/publications/reports/t_standards10.htm

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Notes:

[1] See Public Accounts of Canada 2010, http://www.tpsgc-pwgsc.gc.ca/recgen/txt/72-eng.html

[2] The CRTC is in the process of updating its Performance Management Framework with this Expected Result.

[3] Order Issuing a Direction to the CRTC on Implementing the Canadian Telecommunications Policy Objectives, P.C. 2006‑1534, December 14, 2006.

[4] Telecom Notice of Consultation CRTC 2011-7.

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