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Table 6: Sources of Respendable and Non-Respendable Revenue
Table 6 illustrates sources of respendable and non-respendable revenue presented on the modified cash basis; however OSFI recovers its costs through assessments and user fees billed on the accrual basis of accounting. Under the modified cash basis, the expected overall revenue increase for 2008-2009 will be in the range of 5.1%. For the Regulation and Supervision of Federally Regulated Financial Institutions program activity, in addition to the expense drivers that are explained in the "Financial Tables" section of the Report on Plans and Priorities, a significant shift in revenue types is causing a further increase in base assessments. This shift from cost-recovered services to base assessments was planned and previously communicated, and is related to the Internal Ratings Based (IRB) Basel implementation project that ended on October 31, 2007; effective November 2007, any ongoing costs pertaining to Basel II are recovered through base assessments.
The increase in base assessments in 2009-2010 is largely due to the planned capital expenditures in that year related to the Toronto accommodation plan and the incremental lease costs for the Toronto office
(refer to Table 7).
The user fees and charges planned across all years for this same program activity include fees for certain legislative approvals and approvals for supervisory purposes pursuant to the Regulations Amending the Charges for Services Provided by the Office of the Superintendent of Financial Institutions Regulations 2002, and surcharges assessed to financial institutions assigned a "stage" rating pursuant to the Guide to Intervention for Federal Financial Institutions. Assessment surcharges are charged in accordance with the Assessment of Financial Institutions Regulations, 2001.
The decrease from 2007-2008 to 2008-2009 in the cost-recovered services revenue of the International Assistance program activity is due to non-recurring travel expenses in 2007-2008.
The increase from 2007-2008 to 2008-2009 in the cost-recovered services revenue of the Office of the Chief Actuary is largely due to the full-year impact in 2008-2009 of employees hired during the previous year.
|
Sources of respendable revenue |
||||
|
($ thousands) |
Forecast Revenue |
Planned Revenue |
Planned Revenue |
Planned Revenue |
|
Office of the Superintendent of Financial Institutions Regulation and supervision of federally regulated financial institutions Sources of respendable revenue |
|
|
|
|
| Base Assessments |
69,359 |
76,516 |
85,275 |
82,916 |
| User Fees and Charges |
2,690 |
2,185 |
2,085 |
2,085 |
| Cost-Recovered Services |
3,424 |
915 |
862 |
713 |
|
|
||||
|
|
75,473 |
79,616 |
88,222 |
85,714 |
|
Regulation and supervision of federally regulated private pension plans Source of respendable revenue |
|
|
|
|
| Pension Fees |
6,262 |
6,521 |
6,794 |
6,947 |
|
|
||||
|
|
6,262 |
6,521 |
6,794 |
6,947 |
|
International Assistance Sources of respendable revenue |
|
|
|
|
| Base Assessments |
432 |
461 |
346 |
381 |
| Cost-Recovered Services |
1,727 |
1,440 |
1,640 |
1,640 |
|
|
||||
|
|
2,159 |
1,901 |
1,986 |
2,021 |
|
Office of the Chief Actuary (OCA) Sources of respendable revenue |
|
|
|
|
| User Fees and Charges |
35 |
55 |
55 |
55 |
| Cost-Recovered Services |
4,416 |
4,760 |
5,003 |
5,152 |
|
|
||||
|
|
4,451 |
4,815 |
5,058 |
5,207 |
|
|
|
|
|
|
|
|
||||
| Total Respendable Revenue |
88,345 |
92,853 |
102,060 |
99,889 |
|
|
||||
|
Sources of Non-Respendable Revenue |
||||
|
|
||||
|
Office of the Superintendent of Financial Institutions Regulation and supervision of federally regulated financial institutions Source of non-respendable revenue |
|
|
|
|
| Filing and Administrative Monetary Penalties |
212 |
450 |
450 |
450 |
|
|
||||
| Total Non-Respendable Revenue |
212 |
450 |
450 |
450 |
|
|
||||
|
|
|
|
|
|
| Total Respendable and Non-respendable Revenue |
88,557 |
93,303 |
102,510 |
100,339 |