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ARCHIVED - Atlantic Canada Opportunities Agency - Report
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Section III - Supplementary Information
Financial Highlights
The future-oriented financial highlights presented in this report are intended to serve as a general overview of ACOA’s financial operations. They are prepared on an accrual basis to strengthen accountability and improve transparency and financial management.
The future-oriented financial statements can be found on the Agency’s website.
| Change | Future-Oriented 2012-13 |
Future-Oriented 2011-12 |
|
|---|---|---|---|
| Total Expenses | 8.6 | 277.9 | 269.3 |
| Total Revenues | 0.2 | 8.5 | 8.3 |
| Net Cost from Continuing Operations | 8.4 | 269.4 | 261.0 |
| Change | Future-Oriented 2012-13 |
Future-Oriented 2011-12 |
|
|---|---|---|---|
| Total assets | (18.9) | 323.4 | 342.3 |
| Total liabilities | (3.7) | 110.1 | 113.8 |
| Equity | (15.2) | 213.3 | 228.5 |
| Total liabilities and equity | (18.9) | 323.4 | 342.3 |
The assets for 2012-13 are projected to be $323.4 million, with the largest asset being loans receivable ($224.4 million, or 69.4%). Loans receivable are unconditionally repayable contributions.
Total liabilities for 2012-13 are projected to be $110.1 million. The largest liability is accounts payable and accrued liabilities ($96.6 million, or 87.7%). The remainder of the liabilities comprise employee future benefits (10.1%), vacation pay and compensatory leave (1.9%) and other liabilities (0.3%).
Total expenses for 2012-13 are projected to be $277.9 million. Of these expenses, $126.7 million (45.6%) will be spent in the Enterprise Development program activity, and $100.0 million (36.0%) in the Community Development program activity. Projected expenses in the Policy, Advocacy and Coordination program activity are $12.3 million (4.4%), while Internal Services are $38.9 million (14.0%).
Total estimated expenses in the future-oriented financial statements differs from planned spending presented earlier in this document because estimated expenses include accruals such as amortization, severance and vacation pay, liability adjustments and services received without charge from other government departments (e.g. legal services and accommodation costs). In addition, estimated expenses exclude disbursements for repayable contributions (i.e. loans receivable), which are classified as assets. A reconciliation between total estimated expenses and planned spending is detailed in the future-oriented financial statements, note 5 (b).
Future-Oriented Financial Statements
ACOA’s future-oriented financial statements can be found on the Agency’s website.
List of Supplementary Information Tables
Electronic supplementary information tables for the 2012-13 Report on Plans and Priorities can be found on the Treasury Board of Canada Secretariat’s website.
- Details on Transfer Payment Programs
- Internal Audits and Evaluations
- Greening Government Operations
- Horizontal Initiatives
- Sources of Non-Respendable Revenue
Section IV - Other Items of Interest
Organizational Contact Information
ACOA Head Office
Blue Cross Centre, 3rd Floor
644 Main Street
P.O. Box 6051
Moncton, New Brunswick E1C 9J8
(Courier address: E1C 1E2)
General inquiries: 506-851-2271
Toll free (Canada and the U.S.): 1-800-561-7862
Facsimile: 506-851-7403
Secure Facsimile: 506-857-1301
Access to Information/Privacy: 506-851-6202
TTY7 : 1-877-456-6500
http://www.acoa-apeca.gc.ca/English/Pages/home.aspx
Additional Information
Information on the following topics is available on ACOA’s website.
- Repayable Contributions Portfolio of the Business Development Program
- Information on program sub-activities of ACOA’s Program Activity Architecture
- Innovation and Commercialization
- Productivity and Growth
- International Business Development
- Community Mobilization
- Community-based Business Development
- Community Investment
- Infrastructure Programming
- Policy
- Advocacy
- Coordination
Footnotes
1Atlantic Canada Opportunities Agency Act, R.S.C., 1985, c. 41, 4th Supp.
2“Type” definitions:
- New: newly committed to for fiscal year 2012-13
- Previously committed to: committed to one or two fiscal years earlier (i.e. 2010-11 or 2011-12)
- Ongoing: committed to at least three fiscal years earlier (i.e. 2009-10 or earlier)
3Private sector forecasts include: The Conference Board of Canada, Provincial Outlook Economic Forecast, Fall 2011; Scotia Economics, Provincial Trends, November 2011; TD Economics, Quarterly Economic Forecast, January 2012; CIBC, Provincial Forecast, August 2011; Bank of Montreal, Provincial Economic Outlook, January 2012; and Royal Bank of Canada, Provincial Outlook, December 2011.
4World Economic Outlook Update, International Monetary Fund, September 2011.
5Measuring the impact on GDP in Atlantic Canada is a long-term, multi-dimensional undertaking. Thus, the Agency will report results every five years, based on an analysis of data from internal systems, using econometric modelling from The Conference Board of Canada. This indicator will next be measured in 2013, covering the five-year period 2008-09 to 2012-13.
6Comparable firms are those similar to ACOA-assisted firms (i.e. in age, size, sector and geographic region) but that have not received a direct monetary contribution from the Agency. Statistics Canada provides custom data on the economic performance of SMEs that received Agency assistance and of a group of unassisted firms. The “sales” data are obtained from corporate income tax returns. Using the data from Statistics Canada, ACOA can compare the performance of assisted firms, in terms of sales growth, to that of unassisted firms.
7A Teletype or teletypewriter (TTY) is a device that enables people who are hearing- or speech-impaired to use a telephone to communicate by typing and reading messages instead of talking and listening. A TTY is required at both ends of a conversation in order to communicate.
