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Section III - Supplementary Information

Financial Highlights

Future-oriented financial statements provide forecast information on assets and liabilities, revenues, and expenses, prepared on an accrual accounting basis to strengthen accountability and improve transparency and financial management. The financial highlights presented in this section are intended to serve as a general overview of AAFC’s operations reported in the Department’s future-oriented financial statements.

It should be noted that 2011-12 is the first fiscal year for which AAFC is preparing future-oriented statements, such that comparative data is not available for 2010-11. As a first step, the Department has prepared a future-oriented statement of operations, which is condensed below. A future-oriented statement of financial position will be prepared in the next reporting period.

Future-oriented Condensed Statement of Operations

For the year ended March 31, 2012

($ millions)

	% Change	Future-oriented 2011-12	Future-oriented 2010-11
Expenses			N/A
1.1 Environmental Knowledge, Technology, Information and Measurement		63.5
1.2 On-Farm Action		177.5
2.1 Business Risk Management		1,869.4
2.2 Food Safety and Biosecurity Risk Management Systems		100.0
2.3 Trade and Market Development		138.2
2.4 Regulatory Efficiency Facilitation		35.7
2.5 Farm Products Council of Canada		2.8
3.1 Science, Innovation and Adoption		287.7
3.2 Agri-Business Development		87.2
3.3 Rural and Co-Operatives Development		24.9
3.4 Canadian Pari-Mutuel Agency		11.2
4.1 Internal Services		419.5
Total Expenses		$ 3,217.6
Revenues			N/A
Total Revenues		$ 139.8	N/A
Net Cost of Operations		$ 3,077.8	N/A

Total expenses are projected to be $3.2 billion in fiscal year 2011-12. The majority of these expenses are in the form of transfer payments (69% or $2.2 billion) related to departmental programs discussed in Section II of this report. The balance of spending is made up of salaries and employee benefits (19% or $602 million) and operating expenses (11% or $340 million). The majority of the latter expenses are required for the Department’s research, policy and advocacy roles.

Total revenues are projected to be $140 million for fiscal year 2011-12. Crop re-insurance premiums (56% or $78 million) represent anticipated provincial contributions to the plan. Other sources of revenue include collaborative research agreement funding, Canadian Pari-Mutuel Agency fees, and grazing fees from the pastures program. These revenues support departmental programs and services discussed in Section II of this report.

Since future oriented financial statements are prepared on an accrual accounting basis, there are differences between the figures above and the planned spending amounts presented in other sections of the RPP, which reflect the cash accounting basis used to recognize transactions affecting parliamentary appropriations. The differences are related to such items as provisions for loan guarantees, repayable contributions, non-respendable revenues, services without charge received from other government departments, amortization, and severance and vacation pay liability adjustments. For more information, refer to Note 5 in the full 2011-12 Future-oriented Statement of Operations found on the Department's website.

Supplementary Information Tables

All electronic supplementary information tables listed below can be found on the Treasury Board of Canada Secretariat’s web site at: http://www.tbs-sct.gc.ca/rpp/st-ts-eng.asp:

• Details on Transfer Payment Programs
• Up-Front Multi-Year Funding
• Greening Government Operations
• Horizontal Initiatives
• Upcoming Internal Audits and Evaluations over the next three fiscal years
• Sources of Respendable and Non-Respendable Revenue
• Status Report on Transformational and Major Crown Projects
• Summary of Capital Spending by Program Activity
• User Fees

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Section IV - Other Items of Interest

Sustainable Development

In keeping with its mandate, AAFC has a long-standing commitment to the sustainability of the agriculture, agri-food and agri-based products sector. This commitment is reflected in its three Strategic Outcomes, which include "an environmentally sustainable agriculture, agri-food and agri-based products sector." The Department's commitment to the sustainability of the sector is also reflected in the Program Activities that support its Strategic Outcomes and in its priorities discussed in Section I of this RPP, which include plans to "enable and enhance the sector's environmental performance in support of Canada's environmental agenda." The Department's plans for achieving its Strategic Outcomes and priorities are described on a Program Activity basis in Section II of this RPP.

Furthermore, in accordance with the Federal Sustainable Development Act, AAFC has developed a Departmental Sustainable Development Strategy (DSDS) that describes its objectives and plans for sustainable development appropriate to its mandate. The DSDS articulates AAFC's vision and decision-making process for sustainable development, and sets out the Department's contribution to the goals and targets of the Federal Sustainable Development Strategy (FSDS), as well as other dimensions of sustainable development.

AAFC's DSDS includes the following commitments:

• Making progress towards the FSDS targets to which the Department contributes;
• Applying the Cabinet Directive on the Environmental Assessment of Policy, Plan and Program Proposals, also known as Strategic Environmental Assessment (SEA), to help ensure that environmental considerations are taken into account in the Department's decision-making; and
• Ensuring that the SEA process incorporates the government's environmental goals as laid out in the FSDS, and that SEA reporting requirements are met, in accordance with the revised Guidelines for Implementing the Cabinet Directive.

For additional details on AAFC's activities to support sustainable development, visit http://www.agr.gc.ca/sds, and for complete details on the FSDS visit http://www.ec.gc.ca/dd-sd/default.asp?lang=En&n=C2844D2D-1.

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