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Supplementary Information (Tables)
Note:
As of April 1, 2011, each department will establish at
least 3 SMART green procurement targets to reduce environmental
impacts.
Performance Measure | RPP | DPR |
---|---|---|
Target Status | Achieved | |
Performance measure: Number of printers procured from green consolidated procurement instruments relative to total number of printers procured. | 100% | |
Progress against measure in the given fiscal year. | 100% |
Strategies / Comments
“SMART” breakdown:
Performance Measure | RPP | DPR |
---|---|---|
Target Status | Achieved | |
Performance measure: Quantity of paper procured from green consolidated procurement instruments relative to total quantity of paper procured. | 75% | |
Progress against measure in the given fiscal year. | 100% |
Strategies / Comments
“SMART” breakdown:
Performance Measure | RPP | DPR |
---|---|---|
Target Status | On Track | |
Existence of implementation plan for the disposal of all departmentally-generated EEE. | 100% |
Strategies / Comments
“SMART” breakdown:
As of April 1, 2011, each department will establish SMART targets for training, employee performance evaluations, and management processes and controls, as they pertain to procurement decision-making.
Performance Measure | RPP | DPR |
---|---|---|
Target Status | On Track | |
Number of procurement and materiel management employees with green procurement training relative to total number of procurement and materiel management employees. | 50% | |
Progress against measure in the given fiscal year. | 70% |
Strategies / Comments
“SMART” breakdown:
Employee performance evaluations for managers and functional heads of procurement and materiel management.
Performance Measure | RPP | DPR |
---|---|---|
Target Status | Opportunity for Improvement | |
Environmental considerations are included in the performance evaluations of the Manager of Procurement and Contracting and the Manager of Administrative Services | 100% | |
Progress against measure in the given fiscal year. | 100% |
Strategies / Comments
“SMART” breakdown:
Management processes and controls.
Performance Measure | RPP | DPR |
---|---|---|
Target Status | N/A | |
No performance measure established | ||
Progress against measure in the given fiscal year. |
Strategies / Comments
“SMART” breakdown:
1. Name of Internal Audit | 2. Internal Audit Type | 3. Status | 4. Expected Completion Date |
---|---|---|---|
Superintendent’s Office: Risk Management | Risk Management | In Progress | June 2011 |
Supervision Sector: Life Insurance Group - Conglomerates | Risk Assessment & Intervention | In Progress | Sept 2011 |
Supervision Sector: Deposit Taking Institutions – Conglomerates | Risk Assessment & Intervention | 2011-2012 Planned | TBD |
Corporate Services: Finance | Travel & Hospitality | 2011-2012 Planned | TBD |
Corporate Services: Human Resources | Training & Development | 2011-2012 Planned | TBD |
Corporate Services: Information Management / Information Technology | Governance | 2011-2012 Planned | TBD |
Superintendent’s Office: Internal Audit | Quality Assurance | 2012-2013 Planned | TBD |
Supervision Sector: Property & Casualty Group | Risk Assessment and Intervention | 2012-2013 Planned | TBD |
Supervision Sector: Supervision Support Group, Capital Markets Division | Risk Assessment and Intervention | 2012-2013 Planned | TBD |
Regulation Sector: Capital Division | Rule-Making and Approvals | 2012-2013 Planned | TBD |
Regulation Sector: Private Pension Plans Division | Risk Assessment and Intervention (Supervision) | 2012-2013 Planned | TBD |
Corporate Services: Finance | Governance | 2012-2013 Planned | TBD |
Corporate Services: Security Services Unit | Governance | 2012-2013 Planned | TBD |
Supervision Sector: Deposit-Taking Group – Non-Conglomerates | Risk Assessment & Intervention | 2013-2014 Planned | TBD |
Supervision Sector: Life-Insurance Group – Non-Conglomerates | Risk Assessment & Intervention | 2013-2014 Planned | TBD |
Supervision Sector: Deposit-Taking Group – Risk Measurement Analytics and Assessment | Risk Assessment & Intervention | 2013-2014 Planned | TBD |
The Audit Committee approves OSFI’s Annual Audit Plan two years ahead. The most recent Audit Plan and Audit Reports are available on OSFI’s website: (http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=894)
Program Activity | Respendable revenue |
Forecast Revenue 2010–2011 |
Planned Revenue 2011–2012 |
Planned Revenue 2012–2013 |
Planned Revenue 2013–2014 |
---|---|---|---|---|---|
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 |
Program Activity | Non-respendable revenue |
Forecast Revenue 2010-2011 |
Planned Revenue 2011-2012 |
Planned Revenue 2012-2013 |
Planned Revenue 2013-2014 |
---|---|---|---|---|---|
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: http://www.osfi-bsif.gc.ca/osfi/index_e.aspx?DetailID=375
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.
Program Activity |
Forecast Spending 2010–2011 |
Planned Spending 2011–2012 |
Planned Spending 2012–2013 |
Planned Spending 2013–2014 |
---|---|---|---|---|
Internal Services | 3.5 | 4.5 | 4.6 | 4.6 |
Regulation and Supervision of Federally Regulated Private Pension Plans | 0.4 | 1.4 | … | … |
Total | 3.9 | 5.9 | 4.6 | 4.6 |
This table outlines OSFI’s planned capital investments by program activity and reflects OSFI’s approved Annual Reference Level Update (ARLU) estimates, which were prepared in early summer 2010. A review and update of OSFI’s IM/IT Strategy was completed in 2009-2010. The strategy includes the implementation of new IM/IT governance and portfolio management practices to ensure that IM/IT investments are balanced between lifecycle maintenance, optimization and replacement of existing technology assets, and the strategic selection and implementation of new investments. Another key component of the IM/IT strategy, rationalization of the application portfolio, began in 2010 in order to realize efficiencies and improve the ability for OSFI’s systems to adapt to evolving business needs. At the time of writing this Report, OSFI was completing its business planning process for 2011-2012 to 2013-2014, including a review of the budget implications of implementing the IM/IT strategy over a five-year period. Any changes as a result will be reflected in next year’s Report on Plans and Priorities.
OSFI continues to develop cost-effective, secure and reliable information management systems that contain relevant, accurate and timely internal and external data, and to maintain a robust technology infrastructure necessary to support its supervisory and regulatory activities.
OSFI’s focus for the planning period is to advance the IT Renewal program in an aggressive but necessary pace. Similar to other government department and agencies, OSFI faces challenges with respect to aging IT systems: sustainability of systems over the long-term, and the ability of systems to adequately support changing business needs or emerging technologies. The associated risks and mitigation strategies were identified and an IT Renewal roadmap was developed in 2009-10 to address this issue. Consequentially, IT Renewal projects make up a large part of OSFI investment in the next 5 years.
OSFI has decreased its planned capital spending in 2011-2012 by $9.6 million over the planned spending for the same year reported in the previous year’s Report on Plans and Priorities. This is attributed to the deferral of the accommodation upgrade to its Toronto office to 2015-2016.