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Section III: Supplementary Information
Financial Highlights
The financial highlights presented in the 2010-11 Departmental Performance Report serve as a general overview of Veterans Affairs Canada's (VAC) financial position and operations. These financial highlights were prepared on an accrual basis to strengthen accountability and improve transparency and financial management.
Financial Statements
| 2009-10* | 2010-11 | % Change | |
|---|---|---|---|
| ASSETS | |||
| Financial Assets | 217,357 | 209,524 | -4% |
| Non-Financial Assets | |||
| TOTAL | 217,357 | 209,524 | -4% |
| LIABILITIES | |||
| Total Liabilities | 128,969 | 126,036 | -2% |
| EQUITY | 88,388 | 83,488 | -6% |
| TOTAL | 217,357 | 209,524 | -4% |
| 2009-10* | 2010-11 | % Change | |
|---|---|---|---|
| EXPENSES | |||
| Total Expenses | 3,444,447 | 3,547,905 | 3% |
| REVENUES | |||
| Total Revenues | 22,021 | 20,984 | -5% |
| NET COST OF OPERATIONS | 3,422,426 | 3,526,921 | 3% |
Condensed Statement of Financial Position
Assets decreased by approximately $8M in 2011. This is primarily a result of the reduced net book value of the tangible capital assets due to amortization.
Liabilities decreased by approximately $3M in 2011. This decrease primarily relates to the net effect of an increased salary liability at year-end, which was offset by a decrease in the employee future benefit liability.
Condensed Statement of Operations
The expenses of the Department decreased in total by $104.5M in 2010-11. Grants and contributions increased by $114M (or 4.7%) in 2010-11, as compared to 2009-10. The increase is due primarily to the continued uptake of programs under the New Veterans Charter, specifically Disability Awards and Earnings Loss. Expenses for the Veterans Independence Program also increased as a result of the expanded eligibility for primary care givers and low-income or disabled survivors. These increases were partially offset by a continued decrease in expenditures for Disability Pensions and War Veterans Allowances due to declining Veteran numbers. This year also marked the beginning of expenditures paid under the new five-year Community War Memorials Program, as announced in Budget 2010.
Expenses for health related benefits and services purchased on behalf of Veterans, their families and other individuals, such as treatment benefits, decreased by $6M due to decreased demand. Expenses for career transition services and rehabilitation under the New Veterans Charter increased by $2.6M.
There was an increase of $2.6M in ex-gratia expenses in 2010-11, as compared to 2009-10 related to the testing of Agent Orange at CFB Gagetown resulting from expanded eligibility and extension of the deadline for making payments (to December 30, 2011). Departmental operating expenses decreased by $9M due to reduced employee pay and benefit costs as well as internal restraint measures.
Expenses - Where Funds Went
The Portfolio's Financial Statements are available on the VAC Web site at the following address: www.vac-acc.gc.ca/general/sub.cfm?source=department/reports/departmental-financial-statements/2010-2011
List of Supplementary Information Tables
The following tables can be found on the Treasury Board of Canada Secretariat Web site at: http://www.tbs-sct.gc.ca/dpr-rmr/2010-2011/index-eng.asp
- Sources of Respendable and Non-Respendable Revenue
- Details on Transfer Payment Programs
- Green Procurement
- Response to Parliamentary Committees and External Audits
- Internal Audits and Evaluations
Section IV: Other Items of Interest
Web sites
The following Web sites will provide more detailed information on material provided in this report. If further information is required, contact may be made through the Veterans Affairs Canada (VAC) general enquiries lines.
Veterans Affairs Canada:
http://www.veterans.gc.ca/eng/
Veterans Review and Appeal Board:
http://www.vrab-tacra.gc.ca
Office of the Veterans Ombudsman:
www.ombudsman-veterans.gc.ca
Contact Information
To make a general enquiry about Veterans Affairs Canada, its programs or services, call 1-866-522-2122. To contact the Veterans Review and Appeal Board, call 1-800-450-8006. To contact the Office of the Veterans Ombudsman, call 1-877-330-4343.
Portfolio Publications
VAC produces a variety of publications on its programs and services. Copies of these publications are available on the Department's Web sites.
For more information or to ask questions, contact:
Corporate Planning Division
Veterans Affairs Canada
P.O. Box 7700
Charlottetown, PEI, C1A 8M9
Email: plan@vac-acc.gc.ca
Footnotes
[1] Full Time Equivalent
[2] Full Time Equivalent
[3] http://www.phac-aspc.gc.ca/ph-sp/determinants/index-eng.php
[4] Full Time Equivalent
[5] November 2010 Attitudes Towards Remembrance and Veterans' Week 2010 Omnibus Survey
[6] Phoenix Strategic Perspectives, 2008
[7] The Strategic Counsel, 2005
[8] Full Time Equivalent
[9] Full Time Equivalent
[10] Full Time Equivalent
[11] Full Time Equivalent