Quarterly Financial Report for the quarter ended December 31, 2018
Statement outlining results, risks and significant changes in operations, personnel and program 1. Introduction This quarterly report has been prepared by management as required by section 65.1 of the Financial Administration Act and in the form and manner prescribed by the Treasury Board Directive on Accounting Standards. This report should be read in conjunction with the 2018-19 Main Estimates (and as applicable – Supplementary Estimates and previous quarterly reports for the current year). The mandate of the Canadian Intergovernmental Conference Secretariat (CICS) is to support federal, provincial and territorial governments in the planning and conduct of senior level intergovernmental conferences held across Canada. The primary objective of CICS is to relieve client departments of the numerous technical and administrative tasks associated with the planning and conduct of multilateral conferences, thereby enabling participants to concentrate on substantive intergovernmental policy issues. CICS provides continuous, effective, impartial administrative services to these meetings. This quarterly report has not been subject to an external audit or review Basis of Presentation This quarterly report has been prepared by management using an expenditure basis of accounting. The accompanying Statement of Authorities includes the department’s spending authorities granted by Parliament and those used by the department consistent with the 2018-19 Main Estimates and Supplementary Estimates (as applicable). This quarterly report has been prepared using a special purpose financial reporting framework designed to meet financial information needs with respect to the use of spending authorities. The authority of Parliament is required before moneys can be spent by the Government. Approvals are given in the form of annually approved limits through appropriation acts or through legislation in the form of statutory spending authority for specific purposes. As part of the departmental performance reporting process, CICS prepares its annual departmental financial statements on a full accrual basis in accordance with Treasury Board accounting policies, which are based on Canadian generally accepted accounting principles for the public sector. However, the spending authorities voted by Parliament remain on an expenditure basis. 2. Highlights of fiscal quarter and fiscal year to date (YTD) results 2.1 Statement of Authorities CICS’ authorities available for 2018-19 are about the same as last fiscal year. The Secretariat is funded at a level sufficient to finance 100 in person conferences (or 70 events) annually. An event can consist of one or two conferences and it is used to plan the budget for each of the conferences in terms of transportation and communication, rentals, translation and interpretation services. 2.2 Statement of Department Budgetary Expenditures by Standard Object Year to date operating expenses to December 31, 2018 are some $80 thousand lower than for the same period in 2017-18. This variation is a combination of a $144 thousand decrease in salary charges and a $64 thousand increase in rentals, transportation, professional and special services. This increase is explained by the timing when rental and professional services invoices were received, approved and processed for services rendered year to date was better than for the same period in 2017-18. The primary reason for […]
by Mario Giasson
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Quarterly Financial Report for the quarter ended September 30, 2018
Statement outlining results, risks and significant changes in operations, personnel and program 1. Introduction This quarterly report has been prepared by management as required by section 65.1 of the Financial Administration Act and in the form and manner prescribed by the Treasury Board Directive on Accounting Standards. This report should be read in conjunction with the 2018-19 Main Estimates (and as applicable – Supplementary Estimates and previous quarterly reports for the current year). The mandate of the Canadian Intergovernmental Conference Secretariat (CICS) is to support federal, provincial and territorial governments in the planning and conduct of senior level intergovernmental conferences held across Canada. The primary objective of CICS is to relieve client departments of the numerous technical and administrative tasks associated with the planning and conduct of multilateral conferences, thereby enabling participants to concentrate on substantive intergovernmental policy issues. CICS provides continuous, effective, impartial administrative services to these meetings. This quarterly report has not been subject to an external audit or review. Basis of Presentation This quarterly report has been prepared by management using an expenditure basis of accounting. The accompanying Statement of Authorities includes the department’s spending authorities granted by Parliament and those used by the department consistent with the 2018-19 Main Estimates and Supplementary Estimates (as applicable). This quarterly report has been prepared using a special purpose financial reporting framework designed to meet financial information needs with respect to the use of spending authorities. The authority of Parliament is required before moneys can be spent by the Government. Approvals are given in the form of annually approved limits through appropriation acts or through legislation in the form of statutory spending authority for specific purposes. As part of the departmental performance reporting process, CICS prepares its annual departmental financial statements on a full accrual basis in accordance with Treasury Board accounting policies, which are based on Canadian generally accepted accounting principles for the public sector. However, the spending authorities voted by Parliament remain on an expenditure basis. 2. Highlights of fiscal quarter and fiscal year to date (YTD) results 2.1 Statement of Authorities CICS’ authorities available for 2018-19 are some $46 thousand higher than last fiscal year. An increase of $51 thousand in funding is attributable to new collective bargaining obligations. 2.2 Statement of Department Budgetary Expenditures by Standard Object Year to date operating expenses to September 30, 2018 are some $161 thousand higher than for the same period in 2017-18. This variation is a combination of a $181 thousand decrease in salary charges and a $342 thousand increase in rentals, transportation, professional and special services. This increase is explained by the timing when rental and professional services invoices were received, approved and processed for services rendered in Q1 and Q2 was better than for the same period in 2017-18. The primary reason for the salary decrease is due to vacant positions and unplanned employees’ departures. It is expected that most of these vacancies will be staffed by the end of Q3. 3. Risks and Uncertainties Our program mandate […]
by Mario Giasson
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Unaudited Financial Statements 2017-18
Unaudited Financial Statements of the CANADIAN INTERGOVERNMENTAL CONFERENCE SECRETARIAT For the Year Ended March 31, 2018 Statement of Management Responsibility Including Internal Control Over Financial Reporting Responsibility for the integrity and objectivity of the accompanying financial statements for the year ended March 31, 2018 and all information contained in these financial statements rests with the management of the Canadian Intergovernmental Conference Secretariat (CICS). These financial statements have been prepared by management using the Government of Canada’s accounting policies, which are based on Canadian public sector accounting standards. Management is responsible for the integrity and objectivity of the information in these financial statements. Some of the information in the financial statements is based on management’s best estimates and judgment, and gives due consideration to materiality. To fulfill its accounting and reporting responsibilities, management maintains a set of accounts that provides a centralized record of the CICS’s financial transactions. Financial information submitted in the preparation of the Public Accounts of Canada, and included in the CICS’s Departmental Results Report, is consistent with these financial statements. Management is also responsible for maintaining an effective system of internal control over financial reporting (ICFR) designed to provide reasonable assurance that financial information is reliable, that assets are safeguarded and that transactions are properly authorized and recorded in accordance with the Financial Administration Act and other applicable legislation, regulations, authorities and policies. Management seeks to ensure the objectivity and integrity of data in its financial statements through careful selection, training and development of qualified staff; through organizational arrangements that provide appropriate divisions of responsibility; through communication programs aimed at ensuring that regulations, policies, standards, and managerial authorities are understood throughout the CICS and through conducting an annual risk-based assessment of the effectiveness of the system of ICFR. The system of ICFR is designed to mitigate risks to a reasonable level based on an ongoing process to identify key risks, to assess effectiveness of associated key controls, and to make any necessary adjustments. The CICS is subject to periodic Core Control Audits performed by the Office of the Comptroller General of Canada (OCG) and uses the results of such audits to comply with the Treasury Board Policy on Financial Management. A Core Control Audit was performed in 2011-12 by the Office of the Comptroller General of Canada (OCG). The Audit Report and related Management Action Plan are posted on the departmental web site at (hyperlinks to the audit report and Management Action Plan). The financial statements of the CICS have not been audited. André M. McArdle Brian J. Berry FCPA, FCMA, Secretary Assistant Secretary and Chief Financial Officer Ottawa, Canada Ottawa, Canada August 21 , 2018 August 21, 2018 Statement of Financial Position (Unaudited) As at March 31 (in dollars) 2018 2017 Recasted Note 12 Liabilities Accounts payable and accrued liabilities (note 5) $ 666,494 $ 550,330 Vacation pay and compensatory leave 91,861 91,059 Employee future benefits (note 6) 87,991 141,604 Total liabilities 846,346 782,993 Financial assets Due from the Consolidated Revenue Fund 558,496 398,423 Accounts […]
by Mario Giasson
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