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Section 3: Supplementary Information

3.1 Financial Highlights

The future–oriented financial highlights presented in this report are intended to serve as a general overview of the TSB's projected financial position and results of operations for fiscal year–ends 2011–12 and 2012–13. These financial statements are prepared on an accrual accounting basis and are based on assumptions and estimates which ultimately may be significantly different than final results. In particular, the 2012–13 future–oriented financial statements do not factor in the effect of potential reductions in funding arising from Budget 2012.

Future–oriented Condensed Statement of Operations
for the year ended March 31
($ thousands)

	Future–oriented 2012–13	Future–oriented 2011–12
Total Expenses	34,800	35,356
Total Revenues	26	34
Net Cost of Operations	34,774	35,322

As shown in the table above, the TSB is projecting a net cost of operations of $34.7 million. This projection is based upon funding requested in the 2012–13 Main Estimates, unused funding carried forward from 2011–12 , and anticipated funding through Supplementary Estimates for signed collective agreements and accrual information.

The forecast decrease in expenses in 2012–13 of $.6 million is primarily due to a lower estimate of carry–forward funding between years as well as a lower estimate of funding that has not yet been confirmed for certain aspects of an unsigned collective agreement.

Future–oriented Condensed Statement of Financial Position
for the year ended March 31
($ thousands)

	Future–oriented 2012–13	Future–oriented 2011–12
Total assetes	6,949	6,931
Total liabilities	5,815	6,125
Equity	1,134	806
Total	6,949	6,931

No significant change is anticipated in the composition of assets, liabilities and equity between fiscal years 2011–12 and 2012–13. The slight decline in liabilities between years is due to a decrease in the employee severance benefits liability, in anticipation of employees selecting optional payments in 2012–13 under a recently signed collective agreement. This liability could decrease significantly in 2012–13 if the remaining outstanding collective agreements are signed with the provision for optional payments.

3.2 Future–Oriented Financial Statement

More comprehensive information concerning the TSB's future–oriented financial statements is available on the departmental website.

3.3 Internal Audit and Evaluations

The TSB has recently completed some preliminary work on the development of a multi–year strategy for the implementation of program evaluation starting in 2012–13. However, given the level of uncertainty associated with the upcoming budget decisions no detailed planning has been done with respect to internal audit and program evaluation activities. The department will determine its planned activities for contracting Internal Audit and Evaluation services once the results and impacts of Budget 2012 are known.

3.4 Supplimentary Information Table

The electronic version of the table containing information about TSB's approach to the greening of the government operations can be found on the Treasury Board of Canada Secretariat website.

Section 4: Other Item of Interest

4.1 Contacting the TSB

Additional information about the Transportation Safety Board of Canada and its activities is available on the TSB website at www.bst-tsb.gc.ca or by contacting us at:

Transportation Safety Board of Canada
Place du Centre
200 Promenade du Portage, 4th Floor
Gatineau, Quebec  K1A 1K8

E–mail: communications@bst-tsb.gc.ca
Toll Free: 1–800–387–3557
Fax: 819–997–2239

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[Footnotes]

1. A transportation occurrence is any accident or incident associated with the operation of an aircraft, ship, railway rolling stock or pipeline. It also includes any hazard that could, in the Board's judgment, induce an accident or incident if left unattended. ↑

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