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ARCHIVED - Office of the Superintendent of Financial Institutions - Supplementary Tables

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Sources of Respendable and Non-Respendable Revenue

A. Respendable Revenue

Respendable Revenue
($ millions)
Program Activity Respendable revenue Forecast
Regulation and Supervision of Federally Regulated Financial Institutions Base Assessments 50.9 53.1 55.1 56.7
  Cost-Recovered Services 0.2 0.1 0.1 0.1
  User Fees and Charges 5.4 4.7 3.8 3.8
Subtotal   56.5 57.8 58.9 60.5
Regulation and Supervision of Federally Regulated Private Pension Plans Pension Fees 4.5 5.6 4.6 4.7
International Assistance Cost-Recovered Services 0.4 0.0 0.0 0.0
Actuarial Valuation and Advisory Services Cost-Recovered Services 3.4 3.5 3.6 3.7
  User Fees and Charges 0.0 0.1 0.1 0.1
Subtotal   3.4 3.6 3.7 3.8
Internal Services Base Assessments 39.8 46.1 42.3 43.1
  Pension Fees 2.0 1.3 2.7 2.6
  Cost-Recovered Services 3.2 2.3 2.4 2.3
Subtotal   45.0 49.7 47.4 48.0
Total Respendable Revenue   109.8 116.7 114.6 117.0

B. Non-Respendable Revenue

Non-Respendable Revenue
($ millions)
Program Activity Non-respendable revenue Forecast
Regulation and Supervision of Federally Regulated Financial Institutions Late and Erroneous Filing Penalties 0.2 0.2 0.2 0.2
Total Non-respendable Revenue   0.2 0.2 0.2 0.2
Total Respendable and Non-respendable Revenue   110.0 116.9 114.8 117.2

Tables A and B identify the sources of respendable and non-respendable revenue, presented on the modified cash basis. OSFI is funded mainly through assessments on the financial institutions and private pension plans that it regulates and supervises and through a user-pay program for selected services, which are billed on the accrual basis of accounting1. Under the modified cash basis, the overall respendable revenue increase for 2011-2012 over prior year is 6.4% while overall base assessments are planned to increase by 9.4% over the same period.

1OSFI’s financial statements are prepared using Canadian Generally Accepted Accounting Principles (GAAP), are audited annual by the Office of the Auditor General and are published in OSFI’s annual report.  OSFI’s annual reports can be accessed on OSFI’s web site at the following link:

The $1.1 million or 24.0% increase in Pension Fees in the Regulation and Supervision of Federally Regulated Private Pension Plans program activity in 2011-2012 over 2010-2011 is related to the costs associated with the Risk Assessment System for Pensions (RASP) project. Pensions Fees decreases and stabilizes in 2012-2013 following the implementation of RASP.

Cost-recovered services for the International Assistance program activity is nil starting in 2011-2012 due to the cessation of this program effective April 1, 2010, as explained in section “2.1.3 – Program Activity: International Assistance” of OSFI’s 2011-2012 Report on Plans and Priorities.

The growth in Base Assessments of $6.3 million or 15.8% in Internal Services program activity in 2011-2012 over 201-2011 is attributed to increased investments in information systems related to system updates and renewal of core infrastructure and selected applications.

The user fees and charges for the Regulation and Supervision of Federally Regulated Financial Institutions program activity include fees for certain legislative approvals and approvals for supervisory purposes pursuant to the Charges for Services Provided by the Office of the Superintendent of Financial Institutions Regulations 2002, and surcharges assessed to financial institutions assigned a “stage” rating pursuant to the Guide to Intervention for Federal Financial Institutions. Surcharges are charged in accordance with the Assessment of Financial Institutions Regulations, 2001.