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SECTION III - SUPPLEMENTARY INFORMATION
Financial Highlights
(in dollars)
| Condensed Statement of Financial Position | |||
|---|---|---|---|
| At March 31, 2009 | % change | 2009 | 2008 |
| ASSETS | |||
| Assets | -40% | 68,565 | 113,370 |
| Total assets | -40% | 68,565 | 113,370 |
| LIABILITIES AND EQUITY OF CANADA | |||
| Liabilities | 52% | 912,720 | 599,856 |
| Equity of Canada | 74% | (844,155) | (486,486) |
| Total liabilities and equity of Canada | -40% | 68,565 | 113,370 |
(in dollars)
| Condensed Statement of Operations | |||
|---|---|---|---|
| For the year ended March 31, 2009 | % change | 2009 | 2008 |
| EXPENSES | 6% | 2,826,193 | 2,994,789 |
| NET COST OF OPERATIONS | 6% | 2,826,193 | 2,994,789 |
Further information regarding SIRC’s financial statements is available online at: www.sirc-csars.gc.ca.
Total assets were $68,565 at the end of 2008-2009, a decrease of $44,805 over the previous year (40%). Tangible capital asset represents the largest portion of the SIRC’s asset with $61,501 or 89% of SIRC assets.
Total liabilities were $912,720 at the end of 2008-2009, an increase of $312,864 thousand (52%) over the previous year’s total liabilities of $599,856. The increase was mainly due to the establishment of payable accounts at year end for salary items such as employee benefits plan, performance pay and collective bargaining. Accounts payable represented 46% of the total liabilities, while employee severance benefits were at 38%, for a total of $415,851.
SIRC has two key program activities related to its strategic outcome. The first is to conduct reviews to ensure that CSIS performs its duties and functions in accordance with the law, policy and Ministerial Direction. The second is to receive and inquire into complaints by any person about any act of the Service. $1,755,163 (62%) was spent under the Program Activity; Reviews and $1,071,030 (38%) was spent under the Program Activity; Complaints.
