Unaudited Future-Oriented Statement of Operations 2016-2017
Statement of Management Responsibility Responsibility for the compilation, content and presentation of the accompanying future-oriented financial information for the years ended March 31, 2016 and 2017 rests with the Canadian Intergovernmental Conference Secretariat’s (CICS) management. The future-oriented financial information has been prepared by management in accordance with Treasury Board accounting policies which are consistent with Canadian generally accepted accounting principles for the public sector. The future-oriented financial information is submitted for Part III of Estimates (Report on Plans and Priorities), and will be used in the department’s Departmental Performance Report to compare with actual results. These statements are based on the best information available and the appropriateness of the assumptions adopted as at January 7th, 2016 and reflect the plans described in the Report on Plans and Priorities. Management is responsible for the integrity and objectivity of the information contained in future-oriented financial information and for the process of developing assumptions. Assumptions and estimates are based upon information available and known to management at the time of development, reflect current business and economic conditions, and assume a continuation of current governmental priorities and consistency in departmental mandate and strategic objectives. Much of the future-oriented financial information is based on these assumptions, best estimates, and judgment and gives due consideration to materiality. At the time of preparation of these statements, management believes the estimates and assumptions to be reasonable. However, as with all such assumptions, there is a measure of uncertainty surrounding them. This uncertainty increases as the forecast horizon extends. The actual results achieved for the fiscal years covered in the accompanying future-oriented financial information will vary from the information presented and the variations may be material. The Future-oriented Financial Statements for CICS have not been audited. The paper version was approved and signed by: André M. McArdle Secretary, Ottawa, Canada Brian J. Berry, FCPA, FCMA Assistant Secretary and Chief Financial Officer Ottawa, Canada Date: February 4, 2016 Date: February 4, 2016 CANADIAN INTERGOVERNMENTAL CONFERENCE SECRETARIAT Future-Oriented Statement of Operations (unaudited) For the Year ending March 31 Estimated Results Planned Results 2015-16 2016-17 (in dollars) Expenses Conference Services $ 3,840,572 $ 4,183,822 Internal services 2,090,708 2,236,411 Total expenses 5,931,280 6,420,233 Revenues Sharing cost agreement – Transfers received from the provincial governments 1,100,000 1,100,000 Revenues earned on behalf of government (1,100,000) (1,100,000) Total revenues – – Net cost of operations $ 5,931,280 $ 6,420,233 The accompanying notes form an integral part of these future-oriented Statement of Operations. Notes to the Future-Oriented Statements of Operations 1. Methodology and Significant Assumptions The future-oriented statement of operations has been prepared on the basis of government priorities and departmental plans as described in the Report on Plans and Priorities. The information in the estimated results for fiscal year 2015–16 is based on actual results as at December 31, 2015 and on forecasts for the remainder of the fiscal year. Forecasts have been made for the planned results for the 2016-17 fiscal year. The main assumptions underlying the forecasts are as follows: The department’s activities will remain substantially the same […]
by Mario Giasson
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Quarterly Financial Report for CICS for the Quarter Ending September 30, 2013
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. This report should be read in conjunction with the Main Estimates (and as applicable – Supplementary Estimates and previous interim reports for the current year) as well as Canada’s Economic Action Plan 2012 (Budget 2012). The mandate of the Canadian Intergovernmental Conference Secretariat (CICS) is to serve federal, provincial and territorial governments in the planning, conduct, and the serving of senior level intergovernmental conferences held across Canada. The primary objective of CICS is to relieve client departments in virtually every major sector of intergovernmental activity, of the numerous technical and administrative tasks associated with the planning and conduct of multilateral conferences, thereby enabling them to concentrate on the substantive policy issues. CICS provides continuous, effective, impartial administrative services to these meetings. The 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 Main Estimates and Supplementary Estimates for the 2013-14 fiscal year. This quarterly report has been prepared using a special purpose financial 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. When Parliament is dissolved for the purposes of a general election, section 30 of the Financial Administration Act authorizes the Governor General, under certain conditions, to issue a special warrant authorizing the Government to withdraw funds from the Consolidated Revenue Fund. A special warrant is deemed to be an appropriation for the fiscal year in which it is issued. 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. As part of the Parliamentary business of supply, the Main Estimates must be tabled in Parliament on or before March 1 preceding the new fiscal year. Budget 2012 was tabled in Parliament on March 29, after the tabling of the Main Estimates on February 28, 2012. As a result the measures announced in the Budget 2012 could not be reflected in the 2012-13 Main Estimates. In fiscal year 2012-2013, frozen allotments were established by Treasury Board authority in departmental votes to prohibit the spending of funds already identified as savings measures in Budget 2012. In 2013-2014, the […]
by Mario Giasson
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