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The future-oriented financial highlights presented within this Report on Plans and Priorities are intended to serve as a general overview of PCO’s financial operations. These future-oriented financial highlights are prepared on an accrual basis to strengthen accountability and improve transparency and financial management.
Future-oriented financial statements can be found on PCO's website.
Future-oriented Condensed Statement of Operations For the years ending March 31, 2011 and 2012 |
% Change | Future-oriented 2011–12 |
Future-oriented 2010–11 |
---|---|---|---|
Expenses | |||
Total Expenses | -13.12% | 161,612 | 186,021 |
Revenues | |||
Total Revenues | 5.44% | 9,052 | 8,585 |
Net Cost of Operations | -14.02% | 152,560 | 177,436 |
The forecasted decrease of $24 million in the level of expenditures for fiscal year 2011-12 in comparison with fiscal year 2010-11, is mainly due to a reduction in PCO’s reference level. This reduction is explained by sunsetting funding in the amount of $6.8 million for Canada’s Economic Action Plan, the Panel of Arbiters, the Office of the Coordinator for the 2010 Olympics and G8 Security, the Administrative Services Review, the Office of the Special Advisor on Human Smuggling and Illegal Migration and the Afghanistan Task Force. In addition, the Commissions of inquiry funding will sunset in the amount of $14.4 million. There is also a forecasted decrease of $2 million in the following non-appropriated accounts: vacation pay, severance pay, contingent liabilities, services provided without charge from other government departments and work in progress.
Future-oriented Condensed Statement of Financial Position For the years ending March 31, 2011 and 2012 |
% Change | Future-oriented 2011–12 |
Future-oriented 2010–11 |
---|---|---|---|
Assets | |||
Total Assets | -7.16% | 24,194 | 26,059 |
Liabilities and Equity of Canada | |||
Liabilities | -8.61% | 37,705 | 41,257 |
Equity | -11.10% | -13,511 | -15,198 |
Total liabilities and equity of Canada | -7.16% | 24,194 | 26,059 |
The forecasted decrease of $1.8 million in the total liabilities and equity of Canada (statement of Financial Position) for fiscal year 2011-12 compared to fiscal year 2010-11, is mainly due to an anticipated decrease of $24 million in PCO’s net cost of operation, which will result in a lower level of acquisitions of assets and fewer liabilities.
All electronic Supplementary Information tables found in the 2011–12 Report on Plans and Priorities can be found on the Treasury Board of Canada Secretariat’s website at http://www.tbs-sct.gc.ca/rpp/st-ts-eng.asp.
Privy Council Office
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Canada
Telephone: 613-957-5153
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Email: info@pco-bcp.gc.ca