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Sources of Respendable and Non-Respendable Revenue
A. Respendable Revenue
| Program Activity | Respendable revenue | Forecast Revenue 2009-10 |
Planned Revenue 2010-11 |
Planned Revenue 2011-12 |
Planned Revenue 2012-13 |
|---|---|---|---|---|---|
| Regulation and Supervision of Federally Regulated Financial Institutions | Base Assessments | 47.0 | 51.0 | 53.4 | 55.4 |
| Cost-Recovered Services | 0.2 | 0.2 | 0.2 | 0.2 | |
| User Fees and Charges | 5.7 | 3.4 | 2.9 | 2.9 | |
| Subtotal | 52.9 | 54.6 | 56.5 | 58.5 | |
| Regulation and Supervision of Federally Regulated Private Pension Plans | Pension Fees | 4.6 | 5.3 | 5.3 | 5.1 |
| International Assistance | Cost-Recovered Services | 1.7 | 1.7 | 1.7 | 1.7 |
| Actuarial Valuation and Advisory Services | Cost-Recovered Services | 3.4 | 3.3 | 3.2 | 3.4 |
| User Fees and Charges | 0.1 | 0.1 | 0.1 | 0.1 | |
| Subtotal | 3.5 | 3.4 | 3.3 | 3.5 | |
| Internal Services | Base Assessments | 37.0 | 39.1 | 51. | 42.3 |
| Pension Fees | 2.1 | 1.5 | 1.6 | 1.9 | |
| Cost-Recovered Services | 2.7 | 2.8 | 3.0 | 2.9 | |
| Subtotal | 41.8 | 43.4 | 55.6 | 46.9 | |
| Total Respendable Revenue | 104.3 | 108.3 | 122.4 | 115.8 | |
B. Non-Respendable Revenue
| Program Activity | Non-respendable revenue | Forecast Revenue 2009-10 |
Planned Revenue 2010-11 |
Planned Revenue 2011-12 |
Planned Revenue 2012-13 |
|---|---|---|---|---|---|
| Regulation and Supervision of Federally Regulated Financial Institutions | Late and Erroneous Filing Penalties | 0.5 | 0.7 | 0.7 | 0.7 |
| Total Non-respendable Revenue | 0.5 | 0.7 | 0.7 | 0.7 | |
| Total Respendable and Non-respendable Revenue | 104.8 | 109.5 | 123.1 | 116.5 | |
Tables A and B identify the sources of respendable and non-respendable revenue, presented on the modified cash basis. OSFI is funded mainly through assessments on the financial institutions and private pension plans that it regulates and supervises and through a user-pay program for selected services, which are billed on the accrual basis of accounting . Under the modified cash basis, the overall revenue increase for 2010-2011 is 3.7%.
The user fees and charges for the Regulation and Supervision of Federally Regulated Financial Institutions program activity
include fees for certain legislative approvals and approvals for supervisory purposes pursuant to 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. Surcharges
are charged in accordance with the Assessment of Financial Institutions Regulations, 2001. At the time of writing this Report,
OSFI was completing its business planning process for 2010-2011 to 2012-2013 and anticipate that user fees and charges might
rise from the levels presented in the above Table for all years, as a result of the current economic outlook. All else being
equal, base assessments would drop with an increase in surcharge revenue.