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ARCHIVED - Treasury Board of Canada Secretariat - 2013–14 Report on Plans and Priorities


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Supplementary Information

Financial Highlights

The future-oriented financial highlights presented in this section are intended to serve as a general overview of the Secretariat's operations. These highlights are prepared on an accrual basis to strengthen accountability and to improve transparency and financial management.

The variance between the figures that follow and the planned spending amounts provided in other sections of this report relates to such items as non-respendable revenues, services without charge received from other government departments, amortization, and severance and vacation pay liability adjustments.

The reduction in forecasted total expenses from 2012–13 to 2013–14 is mainly due to the implementation of cost-containment measures, the implementation of 2010 Strategic Review decisions, and the ending of funding related to time-limited initiatives.


Future-Oriented Condensed Statement of Operations and Departmental Net Financial Position
for the year ended March 31
($ thousands)
  $ Change Forecast
2013–14
Estimated Results
2012–13
Total expenses -72,084 2,968,687 3,040,771
Total revenues +647 13,691 13,044
Net cost of operations before government funding and transfers -72,731 2,954,996 3,027,727
Departmental net financial position +9,281 (55,932) (65,213)

The Future-Oriented Condensed Financial Statements were prepared in accordance with the revised Treasury Board Accounting Standard 1.2, issued in April 2012. As a result, there are two main changes from last year's presentation: the inclusion of an amount for departmental net debt, which is calculated as the difference between the total liabilities and the total net financial assets, and the elimination of an amount for equity.

The Secretariat's assets consist mainly of accounts receivable from other government departments and agencies, whereas its liabilities are mainly for accounts payable to these government organizations, as well as for payables related to the employer's share of public service insurance.

Expenses include approximately $2.3 billion per year related to the Treasury Board's role as employer of the core public administration. These funds are used for government-wide programs such as the employer's share of the Public Service Health Care Plan, the Public Service Dental Care Plan, and other insurance and pension programs. Revenues of approximately $13 million per year consist of the provision of internal support services to other departments, and the recovery of costs related to pension administration services provided to the Public Service Pension Plan.

The change in the departmental net debt is due to forecasted departmental spending, which is lower than departmental revenues (including appropriations received), and to the reduction in tangible capital assets, which are included in total non-financial assets.

The overall changes in assets and liabilities are reflected in the departmental net financial position.


Future-Oriented Condensed Statement of Financial Position
for the year ended March 31
($ thousands)
  $ Change Forecast
2013–14
Estimated Results
2012–13
Total liabilities -14,165 907,186 921,351
Total net financial assets -1,995 851,102 853,097
Departmental net debt -12,170 56,084 68,254
Total non-financial assets -2,889 152 3,041
Departmental net financial position +9,281 (55,932) (65,213)

Future-Oriented Financial Statements

The complete Future-Oriented Financial Statements can be found on the Secretariat's website.