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Section III: Supplementary Information

Financial highlights

($ thousands)

Condensed statement of financial position At end of year (March 31, 2009)	% change	2009	2008
Assets
Total assets	13.4%	430,970	373,069
Total	13.4%	430,970	373,069
Liabilities
Total liabilities	30.6%	641,971	445,653
Equity
Total equity	65.6%	211,001	72,584
Total	13.4%	430,970	373,069

 

($ thousands)

Condensed statement of financial position At end of year (March 31, 2009)	% change	2009	2008
Expenses
Total expenses	14.2%	3,480,700	2,986,274
Revenues
Total revenues	48.6%	206,667	106,126
Net cost of operations	12.0%	3,274,033	2,880,148

Assets
Total assets have increased by $57 million due to an increase of $84 million in prepaid contributions using pool funding payments and a program-based approach, a return of capital of $9.6 million from the Canada Investment Fund for Africa, and decreases of $16.8 million in net loans mostly due to reimbursements and variations in discounts and allowances on these loans.

Liabilities
Total liabilities have increased by $196 million, largely explained by the significant amount of funding that CIDA received two days prior to year-end through Supplementary Estimates C, thereby contributing to the increase in accounts payable and accrued liabilities of $269 million; the decrease in accrued liabilities of $59 million due to the numerous payments made throughout the year to settle liabilities relating to the 2004 tsunami and Pakistan matching funds programs; and by a decrease of $19 million in notes payable to International Financial Institutions (IFI) due to the timing of transactions following an agreement.

Expenses
Total expenses have increased by $494 million, primarily due to an increase in transfer payments spending for food aid and humanitarian assistance in multilateral and global partnerships, more focus on Africa spending, as well as increased spending in the Americas (Haiti) and on Afghanistan programs.

Revenues
The increase of $101 million in revenues can be mainly explained by an increase of $74 million in the gain on foreign exchange for revaluation of notes payable yet to be encashed by IFIs as well as on allowances on advances and investments, and by an adjustment of $24 million to the unamortized discount on loans due to a review of the calculations related to the net present value of loans to developing countries undertaken in 2008–2009.

Financial statements

The complete financial statements⁵⁴ are available on CIDA's website.

Financial highlights charts

As indicated on page 3 above, CIDA's expenses are distributed against the following five program activities:

The vast majority of CIDA's expenses take the form of transfer payments for a wide variety of programs aimed at reducing poverty in the developing world.

CIDA's programs can be divided in the following seven sectors of focus:

Notes:

• in millions of dollars, excluding administrative costs ($250.80 million) and loss on investments ($163.27 million)
• "Other" includes higher education, promotion of development awareness, support to civil society

In 2008–2009, CIDA bilateral disbursements were distributed as follows:

Notes:

• " bilateral " excludes core funding to multilateral organizations
• in millions of dollars, excluding administrative costs ($250.80 million) and loss on investments ($163.27 million)

More details on disbursements by sectors and countries are available in CIDA's statistical reports.⁵⁵ A statistical report for 2008–2009 will be published by the end of March 2010.

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