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2004 Annual Report to Parliament - Crown Corporations and Other Corporate Interests of Canada
II. Overview
There are 43 parent Crown corporations and three wholly owned subsidiaries which have been directed to report as parent Crown corporations for the purposes of the Financial Administration Act.1
Every parent Crown corporation is a legally distinct entity wholly owned by the Crown and managed by a board of directors. The enabling legislation for each parent Crown corporation, whether by a special Act of Parliament or by articles of incorporation under the Canada Business Corporations Act, sets out the corporation's mandate, powers and objectives.
The current portfolio is highly diversified, with corporations operating in many sectors of the Canadian economy. The corporations vary in size and in their demands on the government for financial assistance. Each has its unique purpose in public policy.
Exhibit 1 presents the parent Crown corporations grouped according to the portfolio of the minister through whom they are accountable to Parliament. Please note that, for the purpose of this report, the legal names of the following Crown corporations are used (official name is shown in parenthesis): Canadian Museum of Civilization (Canadian Museum of Civilization Corporation); and National Museum of Science and Technology (Canada Science and Technology Museum Corporation).Exhibit 1: Parent Crown Corporations Grouped by Ministerial Portfolio1
Structural Changes During the Year in Review
Legislative changes in Crown Corporations
Legislation amending the Canada Pension Plan (CPP) and the Canada Pension Plan Investment Board Act came into effect on April 1, 2004. As a result, CPP fixed income assets, both bonds and cash, are being transferred to be managed by the Canada Pension Plan Investment Board. As well, amended legislation has resulted in responsibility for providing cash management services for the CPP being transferred to the Canada Pension Plan Investment Board. In the future, contributions to the CPP will flow to the Canada Pension Plan Investment Board and benefits will be paid from cash provided by the Canada Pension Plan Investment Board.
Privatization
In September 2004, the government sold 49,390,104 shares of Petro-Canada (18.5% of the shares outstanding) for gross proceeds of $3.2 billion. This sale completed the privatization of Petro-Canada, which was commenced in 1991 when shares were initially offered from the company's treasury under the Petro-Canada Public Participation Act. The government sold 123,900,000 Petro-Canada shares in 1995.
Special examinations
Pursuant to section 138 of the Financial Administration Act (FAA), every five years each Crown corporation that falls under the provisions of the FAA is required to carry out a special examination with respect to itself and its wholly-owned subsidiaries, if any.2 The objective of this exam, usually conducted by the external auditor of the corporation, is to determine if, in the period under examination, the financial control and information systems were maintained, and management practices were conducted in a manner that provided reasonable assurance that the assets of the corporation and each subsidiary are safeguarded, controlled, managed economically and efficiently, and that the operations of the subsidiary are carried out effectively.
A special examination was carried out at the Canada Pension Plan Investment Board from January 2004 to March 2004. The examination revealed that there were no significant deficiencies in the systems and practices during the review period.
The Business Development Bank of Canada reported that the corporation's auditors conducted a special examination from October 2003 to April 2004
Defence Construction (1951) Limited reported that, in June 2003, the corporation received its third consecutive positive special examination report.
Marine Atlantic Inc. indicated that, in 2003, its Board of Directors approved a special examination plan presented by the Office of the Auditor General. The examination is set to take place during 2004.
The Pacific Pilotage Authority reported that it received the results of a special examination conducted during 2003. The report noted that the auditors from the Office of the Auditor General did not find any significant deficiencies in the systems and practices of the Authority.
Corporate Governance
In November 2003, the Auditor General released a report on sponsorships and advertising in government. The report entitled Government-Wide Audit of Sponsorship, Advertising, and Public Opinion Research identified three main issues concerning financial management in six corporations: the improper transfer of funds between federal organizations; the lack of evidence for value-for-money in the allocation of contracts; and the failure to detect, through internal audit, the inappropriate movements of public funds.
On February 19, 2004, the government launched a commission of inquiry into the issues identified in the Auditor General's report. This commission has been mandated to investigate and report on questions raised, directly or indirectly, by the Auditor General of Canada, and to make recommendations to the Government of Canada, based upon its factual findings, in order to prevent mismanagement of activities in all federal entities in the future. The commission is expected to submit its final report and recommendations by December 2005.
The government also initiated a number of additional reviews to ensure that ethical standards and management practices in the federal public sector are raised still higher. These additional reviews are focussed on: strengthening the Financial Administration Act; better defining the respective accountabilities and responsibilities of ministers and senior public servants; and improving the governance and transparency of Crown corporations.
The review of the Governance of Crown Corporations looked into the governance and accountability regime for all Crown corporations covered by or exempted from Part X of the Financial Administration Act and other Privy Council Office, Department of Finance Canada, and Treasury Board of Canada policies and guidelines. It included the following:
- an assessment of the capacity of boards of directors, ministers, the Treasury Board of Canada Secretariat, the Department of Finance Canada, the Privy Council Office, and Parliament to effectively fulfill their responsibilities; and
- ways to strengthen management, transparency, and oversight of the governance and accountability framework for Crown corporations.
These reviews will set the basis for a longer-term reform of core public sector management policies and practices. The government will act on any necessary changes to legislation (e.g. Financial Administration Act), regulations, and/or policies. Where warranted, non-legislative changes identified in the course of the review process will be implemented immediately.
In April 2004, the government announced an interim appointment process for Governor in Council appointments to Crown corporations. The process was intended to help ensure an open, professional, and merit-based selection process. This process asks the boards of directors to play a significant role. The report on the review of Crown corporation governance will announce a new appointment process for the selection and appointment by the Governor in Council of directors, chairs of boards and chief executive officers.
As a basis for identifying candidates for the positions of chief executive officer (CEO), chairperson and director, boards of directors have been asked to develop or refine existing selection criteria for the CEO and chairperson, as well as a competency profile for the board as a whole. These documents are to be developed in consultation with the office of the responsible minister, the Prime Minister's Office and the Privy Council Office.
Revision of the Crown Corporation Corporate Plan, Budget and Summaries Regulations
On October 27, 2004, the Crown Corporation Corporate Plan, Budget and Summaries Regulations were amended by Treasury Board to comply with an issue raised by the Standing Joint Committee on the Scrutiny of Regulations. The Regulations were amended to be consistent with its parent Act, the Financial Administration Act.
The revised Regulations now require only the amendment to any budget or corporate plan be submitted for approval by the Governor in Council; instead of an amended corporate plan, operating and capital budgets.
Other corporate governance initiatives
The Organization for Economic Cooperation and Development started in June 2003 to develop a set of non-binding principles and best practices on corporate governance of state-owned assets, primarily to be applied to state-owned enterprises having commercial activities. Canada has contributed to the initiative, scheduled for completion in 2005.
Disclosure of travel and hospitality expenses
On December 12, 2003, the Prime Minister announced a new policy on the mandatory publication of travel and hospitality expenses for ministers, ministers of state, ministers' offices, and parliamentary secretaries, and deputy ministers on a quarterly basis. Some Crown corporations are voluntarily posting on their Web sites the hospitality and travel expenses of their senior officers based on the government's directive.
Disclosure of wrongdoing in the public sector
On October 8, 2004, the President of the Treasury Board tabled a new legislation to establish a mechanism for the disclosure of wrongdoing in the public sector and to protect public servants who make disclosures. The proposed Public Servants Disclosure Protection Act, commonly referred to as "whistle-blowing legislation," includes significant revisions to the previous Bill, which was tabled in March 2004. Discussions on the previous Bill ended when the spring election was called.
The proposed legislation covers all federal public sector employees, including those in Crown corporations. It requires heads of federal organizations to establish an internal disclosure mechanism, calls for the establishment of a code of conduct, and provides substantial protections under the law from reprisal for disclosures made in good faith.
Overall Crown Corporation Performance
The Financial Administration Act requires that the current report include employment and financial data, including aggregate borrowings of parent Crown corporations.
Accordingly this section of the Overview provides a summary of overall performance by Crown corporations, including the following data:
- employment;
- assets;
- budgetary appropriations; and
- debt obligations.
At the end of this section, two exhibits provide a summary view of all Crown corporations:
- Exhibit 8 shows each corporation's employment and financial position; and
- Exhibit 9 provides information about each corporation's operating results and financing.
Exhibits 8 and 9 are also structured according to the portfolio grouping shown in Exhibit 1. Note that information provided in this section excludes financial data for:
- the Bank of Canada, the Canada Pension Plan Investment Board, and the Public Sector Pension Investment Board because of the unique nature of their operations.
Specific information about individual Crown corporations may be found in the Corporate Profiles chapter of this report, as well as in the Corporation's most recently tabled annual report and the summary of the corporate plan approved for the year under review.
A glossary of the financial and employment terms used in this report is provided at the end of this section.
To ensure the greatest possible accuracy, the exhibits presented in this report, as well as all calculations, are based on a computer database of actual figures. Results of the calculations are rounded for ease of presentation.
Where Crown corporations have re-stated financial data for previous years, readers should be aware that the data in this report reflect only those changes that correct errors from previous years. Amendments have been made by some corporations as a result of changes in their accounting policies that have been applied retroactively to financial statements from previous years. This report, and the database of financial information on which it is based, do not reflect these amendments.
For Crown corporations with fiscal years ending on or after July 31, 2004, this report shows their financial data for the fiscal year ending in 2003. Accordingly, for the Canadian Dairy Commission and the National Arts Centre Corporation, this report covers the period ending July 31, 2003 and August 31, 2003 respectively. All of the other corporations' data are for their respective 2003 or 2003-04 fiscal years.
Employment
The upward trend in employment by Crown corporations that began in 2000-01 continued in 2003-04. The total number of full-time employees of Crown corporations reached 73,287, reflecting a 2.0 per cent increase from the previous year.
Crown corporations reporting increased staffing levels included: the Canada Post Corporation (1,184), the Canada Lands Company Limited (206), the Canada Mortgage and Housing Corporation (94), Defence Construction Limited (68) and the Business Development Bank of Canada (65).
Decreases in employment were reported for: Atomic Energy of Canada Limited (120), the Royal Canadian Mint (92) and the Canadian Museum of Civilization (81).
Exhibit 2 shows the changing trend over the last five years.
Exhibit 2 shows the changing trend over the last five years.
Assets
Total assets for Crown corporations increased by 1.5 per cent during 2003-04 to $78.13 billion including:
- Canada Mortgage and Housing Corporation (CMHC) - $1.47B increase
- Farm Credit Canada (FCC) - $1.22B increase
- Business Development Bank of Canada (BDC) - $1.02B increase
- Export Development Canada (EDC) - $3.44B decrease
Five Crown corporations accounted for 89 per cent of the total assets in 2003-04: CMHC, EDC, FCC, BDC and the Canada Post Corporation. The same five corporations accounted for 90 per cent of the total assets in the previous year.
Exhibit 3 demonstrates the fluctuations in the value of Crown corporations' assets over the last five years.
Exhibit 3: Total Assets of Crown Corporations, 1999-00 to 2003-04
Budgetary Appropriations
An increase in parliamentary funding for capital and operating purposes brought total budgetary appropriations to $5,241 million in 2003-04. The additional $286 million represents a 5.8 per cent increase from the previous year.
The following changes in budgetary appropriations were noted:
- Canada Mortgage and Housing Corporation - $160.0M increase
- Canadian Air Transport Security Authority - $91.9M increase
- Atomic Energy of Canada Limited - $34.2M increase
- Federal Bridge Corporation Limited - $46.2M decrease
Total budgetary appropriations for the five-year period from 1999-00 to 2003-04 are shown in Exhibit 4.
Exhibit 4: Total Budgetary Appropriations, 1999-2000 to 2003-04
Of the 25 Crown corporations that received appropriations in 2003-04, six accounted for 79 per cent of the total funding. These were the Canada Mortgage and Housing Corporation (CMHC), the Canadian Broadcasting Corporation, the Canadian Air Transport Security Authority, VIA Rail Canada Inc., the Canada Post Corporation, and Atomic Energy of Canada Limited. For CMHC, which was the largest recipient, 95 per cent of the appropriations flow to assist Canadians with their housing needs.
Exhibit 5 provides a summary view of the 2003-04 recipients of budgetary appropriations.
Exhibit 5: Recipients of 2003-04 Budgetary Appropriations
 |
Canada Mortgage and Housing Corporation (CMHC) Canadian Broadcasting Corporation (CBC) Canadian Air Transport Security Authority (CATSA) VIA Rail Canada Inc. (VIA Rail) Canada Post Corporation (CPC) Atomic Energy of Canada Limited (AECL) Others |
Debt Obligations
Total debt obligations, consisting of debts payable to Canada and to the private sector, decreased by 3.1 per cent, to $50.03 billion in 2003-04 from $51.62 billion in the previous year. Both borrowings from Canada and borrowings from private lenders decreased, by 5.3 per cent and 2.8 per cent respectively.
Significant changes in total debt obligations were noted for:
- Export Development Canada (EDC) - $3.509B decrease
- Farm Credit Canada (FCC) - $1.127B increase
- Business Development Bank of Canada (BDC) - $1.007B increase
Exhibit 6 shows the debt payable to Canada, the debt incurred in private markets as well as the total debt obligations over the last five years.
Exhibit 6: Total Debt Obligations of Crown Corporations, 1999-00 to 2003-04
The four largest debtors in 2003-04 were the Export Development Corporation (EDC), the Canada Mortgage and Housing Corporation (CMHC), Farm Credit Canada (FCC), and the Business Development Bank of Canada (BDC). Their debt obligations represent 33.7, 30.0, 17.9 and 13.9 per cent respectively of the total debt obligations of Crown corporations. The same Crown corporations were also the four largest debtors in 2002-03.
Exhibit 7 presents the respective debt loads of the four largest debtors in 2003-04 compared to 1999-00.
Exhibit 7: Comparison of Largest Debtors in 2003-04 with 1999-2000
Glossary of Financial and Employment Terms Used in This Report
All financial data are extracted from the Crown corporations' audited financial statements for the recent fiscal year. Certain values are adjusted to apply consistently the definitions that follow. Items are listed in the order in which they appear in the summary exhibits.
Total assets represents all assets reported by the corporation in its audited financial statements.
Long-term liabilities represents all long-term liabilities reported by the corporation in its audited financial statements, including deferred capital funding.
Equity represents the equity of Canada. For some corporations, the excess of assets over liabilities is not deemed to be equity of Canada because of the nature of their operations (e.g. marketing boards).
Employment represents the number of full-time employees obtained from sources such as an annual report, financial statements or a corporate plan, and are as at the fiscal year-end of the Crown corporation. The figure includes the full-time staff, and others employed outside of Canada by the parent corporation and its wholly owned subsidiaries. The exceptions are data for the Canada Development Investment Corporation, which relate to the parent corporation only, and data for the four pilotage authorities, which include contract pilots.
Net income represents after-tax income, where applicable, and any extraordinary items. It includes parliamentary appropriations where the corporation has included these in the computation of net income. In some cases, net income is the "excess of parliamentary appropriations over cost of operations" or "excess of proceeds over expenditures." A negative net income (i.e. a net loss) is shown in parentheses.
Borrowings from the private sector include short- and long-term borrowings, capital leases and any other debt-like instruments. For the marketing corporations (Canadian Dairy Commission and Freshwater Fish Marketing Corporation), loans may include payments accruing to dairy producers and fishers.
Borrowings from Canada include short- and long-term borrowings, advances from the Government of Canada for working capital or other purposes, and other debt-like instruments.
Budgetary appropriations refers to parliamentary funding for capital and operating purposes. The amounts exclude grants and contributions paid to Crown corporations where they qualify as members of a general class of recipients. Budgetary appropriations increase the expenditures of Canada and thus have a direct impact on the amount of the government's surplus or deficit.
Dividends represents those declared by the corporation during its fiscal year. This figure includes cash recoveries by Canada (where applicable) and other types of payments or contributions made to Canada (excluding repayments of debt-like instruments). Dividends may be paid by the corporation to the Government of Canada before or after the corporation's year-end.
Exhibit 8: Employment and Financial Position Grouped
by Ministerial Portfolio
(as of year-ends before July 31, 2003; $ million)
| Corporation by Ministerial Portfolio | Financial Position | |||||||||
| Total Assets |
Current Liabilities | Long- term Liabilities |
Equity1 | Employ- ment |
||||||
|
|
||||||||||
| Canadian Dairy Commission | 101.7 | 101.7 | 0.0 | 0.0 | 60 | |||||
| Farm Credit Canada | 10,214.3 | 3,543.5 | 5,722.9 | 947.9 | 985 | |||||
|
|
||||||||||
| Total Agriculture and Agri-Food | 10,316.0 | 3,645.2 | 5,722.9 | 1,045 | ||||||
|
|
||||||||||
| Canada Council for the Arts | 311.1 | 26.1 | 5.5 | 206.4 | 183 | |||||
| Canadian Broadcasting Corporation | 1,638.5 | 292.1 | 1,161.6 | 184.8 | 7,454 | |||||
| Canadian Museum of Civilization | 156.3 | 25.7 | 108.8 | 21.8 | 376 | |||||
| Canadian Museum of Nature | 69.1 | 20.5 | 53.4 | (5.1) | 173 | |||||
| Canadian Race Relations Foundation | 25.4 | 0.1 | 0.0 | 25.3 | 11 | |||||
| National Arts Centre Corporation | 40.8 | 19.2 | 20.5 | 1.2 | 249 | |||||
| National Capital Commission | 676.2 | 47.0 | 33.0 | 596.3 | 452 | |||||
| National Gallery of Canada | 33.5 | 13.7 | 16.6 | 3.1 | 274 | |||||
| National Museum of Science and Technology | 33.6 | 5.4 | 28.0 | 0.2 | 224 | |||||
| Telefilm Canada | 72.9 | 15.1 | 11.2 | 46.6 | 185 | |||||
|
|
||||||||||
| Total Canadian Heritage | 3,057.6 | 464.9 | 1,438.6 | 9,581 | ||||||
|
|
||||||||||
| Bank of Canada 2 | 44,117.9 | 42,190.6 | 0.0 | 30.0 | 1,059 | |||||
| Canada Deposit Insurance Corporation | 1,242.6 | 9.5 | 552.5 | 680.6 | 84 | |||||
| Canada Development Investment Corporation | 74.0 | 12.9 | 1.6 | 59.5 | 3 | |||||
| Canada Pension Plan Investment Board2 | 33,110.3 | 144.1 | 170.8 | 0.0 | 51 | |||||
|
|
||||||||||
| Total Finance | 1,316.6 | 22.4 | 554.1 | 1,197 | ||||||
|
|
||||||||||
| Freshwater Fish Marketing Corporation | 30.5 | 27.2 | 0.0 | 3.3 | 191 | |||||
|
|
||||||||||
| Total Fisheries and Oceans | 30.5 | 27.2 | 0.0 | 191 | ||||||
|
|
||||||||||
| International Development Research Centre | 51.6 | 20.9 | 19.6 | 11.1 | 351 | |||||
|
|
||||||||||
| Total Foreign Affairs | 51.6 | 20.9 | 19.6 | 351 | ||||||
|
|
||||||||||
| Business Development Bank of Canada | 8,809.2 | 3,563.0 | 4,027.7 | 1,218.5 | 1,400 | |||||
| Canadian Tourism Commission | 27.6 | 21.8 | 7.3 | (1.5) | 164 | |||||
| Cape Breton Growth Fund Corporation 3 | 73.0 | 1.0 | 0.0 | 72.1 | 7 | |||||
| Enterprise Cape Breton Corporation | 18.7 | 11.9 | 0.6 | 6.2 | 52 | |||||
| Standards Council of Canada | 5.7 | 2.3 | 1.1 | 2.3 | 84 | |||||
|
|
||||||||||
| Total Industry | 8,934.2 | 3,600.0 | 4,036.6 | 1,707 | ||||||
|
|
||||||||||
| Canada Lands Company Limited | 350.1 | 48.7 | 69.1 | 232.3 | 312 | |||||
| Old Port of Montreal Corporation Inc.4 | 20.7 | 5.8 | 13.8 | 1.2 | 140 | |||||
| Parc Downsview Park Inc.5 | 25.5 | 5.8 | 1.3 | 18.4 | 21 | |||||
| Queens Quay West Land Corporation | 4.1 | 31.3 | 0.9 | (28.1) | 0 | |||||
|
|
||||||||||
| Total Infrastructure and Communities | 400.5 | 91.7 | 85.0 | 473 | ||||||
|
|
||||||||||
| Canadian Commercial Corporation | 350.8 | 309.8 | 1.1 | 40.0 | 96 | |||||
| Export Development Canada | 21,115.0 | 5,558.0 | 13,322.0 | 2,235.0 | 1,003 | |||||
|
|
||||||||||
| Total International Trade | 21,465.8 | 5,867.8 | 13,323.1 | 1,099 | ||||||
|
|
||||||||||
| Canada Mortgage and Housing Corporation | 24,968.0 | 5,686.0 | 16,806.0 | 2,476.0 | 1,866 | |||||
|
|
||||||||||
| Total Human Resources and Skills Development | 24,968.0 | 5,686.0 | 16,806.0 | 1,866 | ||||||
|
|
||||||||||
| Canada Post Corporation | 4,558.0 | 1,604.0 | 1,772.0 | 1,170.0 | 46,796 | |||||
| Royal Canadian Mint | 140.2 | 25.8 | 28.4 | 86.0 | 471 | |||||
|
|
||||||||||
| Total National Revenue | 4,698.2 | 1,629.8 | 1,800.4 | 47,267 | ||||||
|
|
||||||||||
| Atomic Energy of Canada Limited | 916.8 | 180.9 | 599.3 | 136.6 | 3,214 | |||||
| Cape Breton Development Corporation | 27.6 | 62.4 | 406.4 | (441.1) | 26 | |||||
|
|
||||||||||
| Total Natural Resources | 944.4 | 243.3 | 1,005.7 | 3,240 | ||||||
|
|
||||||||||
| Defence Construction (1951) Limited | 11.1 | 4.3 | 3.9 | 2.9 | 348 | |||||
|
|
||||||||||
| Total Public Works and Government Services |
11.1 | 4.3 | 3.9 | 348 | ||||||
|
|
||||||||||
| Atlantic Pilotage Authority | 7.3 | 1.1 | 0.7 | 5.6 | 83 | |||||
| Blue Water Bridge Authority | 173.6 | 5.2 | 107.8 | 60.6 | 71 | |||||
| Canadian Air Transport Security Authority | 353.8 | 100.1 | 239.6 | 14.1 | 160 | |||||
| Federal Bridge Corporation Limited, The | 191.3 | 6.3 | 130.2 | 54.8 | 74 | |||||
| Great Lakes Pilotage Authority | 6.0 | 4.2 | 2.9 | (1.0) | 83 | |||||
| Laurentian Pilotage Authority | 10.4 | 9.4 | 2.1 | (1.1) | 216 | |||||
| Marine Atlantic Inc. | 252.7 | 27.9 | 222.3 | 2.5 | 940 | |||||
| Pacific Pilotage Authority | 11.7 | 4.6 | 1.3 | 5.7 | 158 | |||||
| Ridley Terminals Inc. | 17.5 | 65.6 | 0.7 | (48.8) | 51 | |||||
| VIA Rail Canada Inc. | 906.4 | 81.8 | 46.8 | 102.9 | 3,051 | |||||
|
|
||||||||||
| Total Transport | 1,930.8 | 306.1 | 754.5 | 4,887 | ||||||
|
|
||||||||||
| Public Sector Pension Investment Board 2 | 35 | |||||||||
| Public Service Pension Plan Account | 10,208.9 | 3.0 | 0.0 | 0.0 | ||||||
| Canadian Forces Pension Plan Account | 2,971.3 | 2.2 | 0.0 | 0.0 | ||||||
| Royal Canadian Mounted Police Pension Plan Account | 1,057.4 | 0.8 | 0.0 | 0.0 | ||||||
|
|
||||||||||
| Total Treasury Board | 0.0 | 0.0 | 0.0 | 35 | ||||||
|
|
||||||||||
| Grand Total | 78,125.2 | 21,609.4 | 45,550.4 | 73,287 | ||||||
|
|
||||||||||
Exhibit 9: Operating Results and Financing Grouped by
Ministerial Portfolio
(as of year-ends before July 31, 2003; $ million)
|
|
|||||||||
| Financing | |||||||||
| Corporation by Ministerial Portfolio | Changes to Net Borrowings | Budgetary Appro- priations |
|||||||
| Net Income1 | Private Sector | Canada | Divi- dends |
||||||
|
|
|||||||||
| Canadian Dairy Commission | 19.6 | 18.0 | (52.7) | 3.6 | 0.0 | ||||
| Farm Credit Canada | 105.1 | 1,127.1 | 0.0 | 0.0 | 0.0 | ||||
| Total Agriculture and Agri-Food | 1,145.1 | (52.7) | 3.6 | 0.0 | |||||
| Canada Council for the Arts | 3.7 | 0.0 | 0.0 | 155.6 | 0.0 | ||||
| Canadian Broadcasting Corporation | 32.7 | (5.5) | 0.0 | 1,066.3 | 0.0 | ||||
| Canadian Museum of Civilization | (0.7) | 0.0 | 0.0 | 102.2 | 0.0 | ||||
| Canadian Museum of Nature | (0.3) | (0.2) | 0.0 | 42.9 | 0.0 | ||||
| Canadian Race Relations Foundation | 1.6 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| National Arts Centre Corporation | 0.1 | 0.0 | 0.0 | 29.9 | 0.0 | ||||
| National Capital Commission | (15.9) | 0.0 | 0.0 | 114.3 | 0.0 | ||||
| National Gallery of Canada | 0.1 | 0.0 | 0.0 | 45.0 | 0.0 | ||||
| National Museum of Science and Technology | 0.2 | 0.0 | 0.0 | 36.3 | 0.0 | ||||
| Telefilm Canada | (6.7) | 0.0 | 0.0 | 127.9 | 0.0 | ||||
| Total Canadian Heritage | (5.7) | 0.0 | 1,720.3 | 0.0 | |||||
| Bank of Canada 2 | 1,759.6 | (770.4) | 0.0 | 0.0 | 1,759.6 | ||||
| Canada Deposit Insurance Corporation | 141.5 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Canada Development Investment Corporation | 153.3 | 0.0 | 0.0 | 0.0 | 159.0 | ||||
| Canada Pension Plan Investment Board 2 | 7,209.7 | (277.0) | 0.0 | 0.0 | 0.0 | ||||
| Total Finance | 0.0 | 0.0 | 0.0 | 159.0 | |||||
| Freshwater Fish Marketing Corporation | (0.8) | 2.9 | 0.0 | 0.0 | 0.0 | ||||
| Total Fisheries and Oceans | 2.9 | 0.0 | 0.0 | 0.0 | |||||
| International Development Research Centre | 3.1 | 0.0 | 0.0 | 104.3 | 0.0 | ||||
| Total Foreign Affairs | 0.0 | 0.0 | 104.3 | 0.0 | |||||
| Business Development Bank of Canada | 59.1 | 1,007.2 | 0.0 | 0.0 | 10.7 | ||||
| Canadian Tourism Commission | 0.8 | 0.0 | 0.0 | 98.8 | 0.0 | ||||
| Cape Breton Growth Fund Corporation 3 | 11.7 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Enterprise Cape Breton Corporation | 0.7 | 0.0 | 0.0 | 28.3 | 0.0 | ||||
| Standards Council of Canada | 0.1 | 0.0 | 0.0 | 7.0 | 0.0 | ||||
| Total Industry | 1,007.2 | 0.0 | 134.2 | 10.7 | |||||
| Canada Lands Company Limited | 17.2 | 47.0 | (1.6) | 0.0 | 5.0 | ||||
| Old Port of Montreal Corporation Inc. 4 | 0.4 | 0.0 | (2.4) | 18.0 | 0.0 | ||||
| Parc Downsview Park Inc.5 | (1.7) | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Queens Quay West Land Corporation | 1.3 | 0.0 | 0.0 | 4.0 | 0.0 | ||||
| Total Infrastructure and Communities | 47.0 | (4.0) | 22.0 | 5.0 | |||||
| Canadian Commercial Corporation | (0.8) | 0.0 | 0.0 | 16.3 | 0.0 | ||||
| Export Development Canada | 158.0 | (3,509.0) | 0.0 | 0.0 | 0.0 | ||||
| Total International Trade | (3,509.0) | 0.0 | 16.3 | 0.0 | |||||
| Canada Mortgage and Housing Corporation | 667.0 | 46.0 | (242.0) | 2,069.0 | 0.0 | ||||
| Total Human Resources and Skills Development | 46.0 | (242.0) | 2,069.0 | 0.0 | |||||
| Canada Post Corporation | 253.0 | (25.0) | 0.0 | 226.0 | 18.0 | ||||
| Royal Canadian Mint | (3.0) | (4.6) | 0.0 | 0.0 | 0.0 | ||||
| Total National Revenue | (29.6) | 0.0 | 226.0 | 18.0 | |||||
| Atomic Energy of Canada Limited | 2.4 | 0.0 | (1.0) | 178.8 | 0.0 | ||||
| Cape Breton Development Corporation | 28.8 | 0.0 | 0.0 | 62.8 | 0.0 | ||||
| Total Natural Resources | 0.0 | (1.0) | 241.6 | 0.0 | |||||
| Defence Construction (1951) Limited | 0.3 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Total Public Works and Government Services |
0.0 | 0.0 | 0.0 | 0.0 | |||||
| Atlantic Pilotage Authority | 1.0 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Blue Water Bridge Authority | 7.8 | (1.9) | 0.0 | 0.0 | 0.0 | ||||
| Canadian Air Transport Security Authority | 5.3 | 0.0 | 0.0 | 351.4 | 0.0 | ||||
| Federal Bridge Corporation Limited, The | 0.7 | 0.2 | 0.0 | 32.7 | 0.0 | ||||
| Great Lakes Pilotage Authority | (2.6) | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Laurentian Pilotage Authority | 0.6 | (2.0) | 0.0 | 0.0 | 0.0 | ||||
| Marine Atlantic Inc. | (3.1) | 0.0 | 0.0 | 56.0 | 0.0 | ||||
| Pacific Pilotage Authority | 1.7 | (0.7) | 0.0 | 0.0 | 0.0 | ||||
| Ridley Terminals Inc. | 1.2 | (0.0) | 0.0 | 0.0 | 0.0 | ||||
| VIA Rail Canada Inc. | (0.9) | 0.0 | 0.0 | 263.5 | 0.0 | ||||
| Total Transport | (4.4) | 0.0 | 703.6 | 0.0 | |||||
| Public Sector Pension Investment Board 2 | |||||||||
| Public Service Pension Plan Account | 1,740.6 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Canadian Forces Pension Plan Account | 516.5 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Royal Canadian Mounted Police Pension Plan Account |
183.6 | 0.0 | 0.0 | 0.0 | 0.0 | ||||
| Total Treasury Board | 0.0 | 0.0 | 0.0 | 0.0 | |||||
| Grand Total | (1,300.5) | (299.7) | 5,240.8 | 192.7 | |||||
Notes for Exhibits 8 and 9
1. This column is not totalled because the information is not reported in a consistent manner.
2. Financial data for the Bank of Canada, the Canada Pension Plan Investment Board, and the Public Sector Pension Investment Board are provided for information, but are not included in the totals due to the unique nature of their operations.
3. The Cape Breton Growth Fund Corporation, a wholly owned subsidiary of the Enterprise Cape Breton Corporation, has been directed to report as a parent Crown corporation.
4. The Old Port of Montreal Corporation Inc., a wholly owned subsidiary of the Canada Lands Company Limited, has been directed to report as a parent Crown corporation.
5. Parc Downsview Park Inc., a wholly owned subsidiary of the Canada Lands Company Limited has been directed to report as a parent Crown corporations.
1. Breton Growth Fund Corporation and Parc Downsview Park Inc., were directed to report as parent Crown corporations for the purposes of the Financial Administration Act in 1987, in 2000 and in 2003, respectively. [Return]
2. For some Crown corporations such as the Canada Pension Plan Investment Board and the Public Sector Investment Board, which are exempt from Part X of the Financial Administration Act, their constituent acts require special examinations only once every six years.[Return]
