Planning and Reporting

Financial Statements

2010-2011 (Future-oriented)

Statement of Management Responsibility

STATUS OF WOMEN CANADA

Responsibility for the compilation, content, and presentation of the accompanying future-oriented financial information for the years ended March 31, 2010 and 2011 rests with departmental 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.

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 Status of Women have not been audited.




Suzanne Clément
Co-ordinator, Status of Women Canada
Ottawa, Canada



Cindy Paquette
Chief Financial Officer




Date




Date

Statement of Operations (Unaudited)

STATUS OF WOMEN CANADA

for the year ended March 31
(in thousands of dollars)
Forecast
2011
Forecast 2010
  Women's participation in Canadian society Strategic policy analysis, planning and development Internal Services Total Total
Expenses
Transfer payments
Payment to Provincial non-profit organizations
15,141
-
15,1411
15,900
Payment to national organizations
4,809
-
4,809
5,050
 
19,950
-
19,950
20,950
Operating expenses
Salaries and employee benefits
4,448
1,502
2,717
8,667
8,425
Professional and special services
456
99
843
1,398
1,587
Accomodation
409
138
247
794
856
Travel and relocation
283
172
151
606
688
Communication
45
2
207
254
289
Information
32
31
109
172
195
Equipement
21
3
72
96
110
Repairs
5
-
90
95
108
Amortization
-
-
84
84
91
Utilities, material and supplies
17
2
63
82
93
Equipment rentals
14
2
47
63
71
Miscellanous
1
2
1
4
4
 
5,731
1,953
4,631
12,315
12,517
Total expenses
25,681
1,953
4,631
32,265
33,467
 
Revenues
Gain (loss) on disposal of Crown Assets
-
-
-
-
-
 
Net Cost of Operations
25,681
1,953
4,631
32,265
33,467

The accompanying notes form an integral part of these future-oriented financial statements.

Future-oriented Statement of Financial Position (Unaudited)

STATUS OF WOMEN CANADA

as at 31 march
(in thousand of dollars)
Forecast
2011
Forecast
2010
 
Assets
Finnancial Assets
Accounts receivable and advances
75
75
 
Non-financial assets
Prepaid expenses
-
-
Tangible capital assets (Note 6)
430
444
 
430
444
 
Total Assets
505
519
 
Liabilities and Equity of Canada
Liabilities
Accounts payable and accrued liabilities
2.454
2,454
Vacations pay and compensatory leave
334
323
Employee severance benefits (Note 7)
1,530
1,515
Total Liabilities
4,318
4,292
 
Deficit of Canada
(3,813)
(3,773)
 
Total
505
519

The accompanying notes form an integral part of these future-oriented financial statements.

Statement of Equity (unaudited)

STATUS OF WOMEN CANADA

for the year ended March 31
(in thousand of dollars)
Forecast
2011
Forecast
2010
 
Deficit of Canada, beginning of year
(3,773)
(4,193)
Net cost of operations
(32,265)
(33,467)
Current year appropriations available for use (forecast) (Note 5)
30,839
32,089
Revenue not available for spending
0
0
Change in net position in the Consolidated Revenue Fund (Note 5)
-
357
Services provided without charge by other government deparments (Note 8)
1,386
1,441
Deficit of Canada, end of year
(3,813)
(3,773)

The accompanying notes form an integral part of these future-oriented financial statements.

Future-oriented Statement of Cash Flow (Unaudited)

STATUS OF WOMEN CANADA

for the year ended March 31
(in thousands of dollars)
Forecast
2011
Forecast
2010
 
Operating activities
Net cost of Operations
32,265
33,467
Non cash items:
Amortization of tangible capital assets
(84)
(91)
Services provided without charge by other government departments (note 8)
(1,386)
(1,442)
Variation in Statement of Financial Position:
Decrease (increase) in liabilities
(27)
427
Increase in accounts receivable and advances
-
15
Cash used in operating activities
30,768
32,376
 
Capital Investement activities
Acquisitions of tangible capital assets (note 6)
70
70
Cash used in capital investment activities
70
70
 
Financing activities
Net cash provided by Government of Canada
(30,838)
(32,446)

The accompanying notes form an integral part of these future-oriented financial statements.

Notes to the Future-oriented Financial Statements (unaudited)

STATUS OF WOMEN CANADA


1. Authority and objectives

Status of Women Canada (SWC) was established by the Government of Canada in 1976 to "co-ordinate policy with respect to the status of women and administer related program" (Order in Council 1976-779).  The mandate of SWC is further guided by the Canadian Charter of Rights and Freedoms, as well as by Canada's adherence to the Convention on the Elimination of all Forms of Discrimination against Women. SWC plays a key role in fulfilling the Government of Canada's commitment to building a society that is inclusive and respectful of all Canadians by promoting equality and the full participation of women in Canada.

Strategic Outcome: Gender equality and the full participation of women in the economic, social, and cultural life of Canada. 

Program Activities:

  • Women's participation in Canadian society: by strengthening women's full participation by addressing their economic and social situations and their participation in democratic life through financial and professional assistance for projects and through strategic partnerships that leverage resources involving public institutions and non-governmental organizations
  • Strategic policy analysis, planning and development: by developing strategic policy analysis, advice, and tools to support federal departments and central agencies in identification of policy priorities and in integrating gender-based analysis in existing and proposed policies, programs and initiatives. This is done through collaboration with other federal departments, provincial-territorial governments, civil society, and key international partners.
 
2. Underlying Assumptions

These future-oriented statements have been prepared:

  • as at November 30th, 2009
  • on the basis of government policies, government priorities, and external environment at the time the future-oriented financial information was finalized
  • according to the requirements of Treasury Board Accounting Policies which are based on Canadian generally accepted accounting principles for the public sector.
  • on the basis that the resources provided will enable Status of Women to deliver the expected results specified in the Report on Plans and Priorities.
  • on the basis of historical costs, trend analysis and other analytical methodologies.
 
3. Variations and Changes to the Forecast Financial Information

While every attempt has been made to accurately forecast final results from 2009/10 to 2010/11, actual results achieved are likely to vary from the forecast information presented, and this variation could be material.

Once the Report on Plans and Priorities is presented, Status of Women will not be updating the forecasts for any changes to appropriations or forecast financial information made in ensuing supplementary estimates.

 
4. Significant accounting policies

The future-oriented financial statements have been prepared in accordance with Treasury Board accounting policies which are consistent with Canadian generally accepted accounting principles for the public sector.

Significant accounting policies are as follows:

(a) Parliamentary appropriations

The department is financed by the Government of Canada through Parliamentary appropriations. Appropriations provided to the department do not parallel financial reporting according to generally accepted accounting principles since appropriations are primarily based on a modified-cash basis. Consequently, items recognized in the future-oriented statement of operations and the future-oriented statement of financial position are not necessarily the same as those provided through appropriations from Parliament. Note 5 provides a high-level reconciliation between the bases of reporting.

(b) Net Cash Provided by Government

The department operates within the Consolidated Revenue Fund (CRF), which is administered by the Receiver General for Canada.  All cash received by the department is deposited to the CRF and all cash disbursements made by the department are paid from the CRF.  The net cash provided by Government is the difference between all cash receipts and all cash disbursements including transactions between departments of the federal government.

(c) Forecasted Revenues

Revenues are accounted for in the period in which the underlying transaction or event occurred that gave rise to the revenues.

(d) Forecasted Expenses

Forecasted expenses are recorded when the underlying transaction or expense occurred subject to the following:

  • Grants are recognized in the year in which the conditions for payment are met. In the case of grants which do not form part of an existing program, the expense is recognized when the Government announces a decision to make a non-recurring transfer, provided the enabling legislation or authorization for payment receives parliamentary approval prior to the completion of the financial statements.
  • Contributions are recognized in the year in which the recipient has met the eligibility criteria or fulfilled the terms of a contractual transfer agreement.
  • Vacation pay and compensatory leave are expensed as the benefits accrue to employees under their respective terms of employment.
  • Services provided without charge by other government departments for accommodation, the employer's contribution to the health and dental insurance plans and legal services are recorded as operating expenses at their estimated cost.

(e)  Employee future benefits

  1. Pension benefits: Eligible employees participate in the Public Service Pension Plan, a multiemployer plan administered by the Government of Canada. The department's contributions to the Plan are charged to expenses in the year incurred and represent the total obligation to the Plan. Current legislation does not require the department to make contributions for any actuarial deficiencies of the Plan.
  2. Severance benefits: Employees are entitled to severance benefits under labour contracts or conditions of employment. These benefits are accrued as employees render the services necessary to earn them. The obligation relating to the benefits earned by employees is calculated using information derived from the results of the actuarially determined liability for employee severance benefits for the Government as a whole.

(f) Accounts receivable

Account receivable are stated at amounts expected to be ultimately realized; a provision is made for receivables where recovery is considered uncertain.

(g) Tangible capital assets

All tangible capital assets and leasehold improvements having an initial cost of $2,500 or more are recorded at their acquisition cost.  The department does not capitalize intangibles, works of art and historical treasures that have cultural, aesthetic or historical value, assets located on Indian Reserves and museum collections.

Amortization of capital assets is done on a straight-line basis over the estimated useful life of the capital asset as follows:


Asset Class Amortization Period
Machiney and equipement 3-5 years
Informatics harware 3-5 years
Informatics purchased and developed software 3 years
Other equipement, including furniture 5 years

 

(h) Measurement uncertainty

The preparation of the future-oriented financial information requires management to make estimates and assumptions that affect the reported amounts of all the assets, liabilities, revenues and expenses reported in the future-oriented financial statements. Assumptions 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. At the time of preparation of these statements, management believes the estimates and assumptions to be reasonable. Nonetheless, as with all such estimates and assumptions, there is a measure of uncertainty surrounding them. This uncertainty increases as the forecast horizon extends.



5. Parliamentary Appropriations

The department receives most of its funding through annual Parliamentary appropriations. Items recognized in the future-oriented statement of operations and the future-oriented statement of financial position in one year may be funded through Parliamentary appropriations in prior, current or future years. Accordingly, the department has different net results of operations for the year on a government funding basis than on an accrual accounting basis. The differences are reconciled in the following tables:

(a) Appropriations provided and used:

 

(in thousands of dollars)
Forecast
2011
Forecast
2010
Operating expenditures - Vote 85
9,383
9,383
Grants and Contributions - Vote 90
19,950
20,950
Transfer from TB - Vote 15
334
266
Transfer from TB - Vote 25
375
Transfer from TB - Vote 30
29,667

30,974

Contribution to employee benefits plan
1,170
1,113
Minister of State - Motor car allowance
2
2
Current year appropriations used
30,839
32,089
 
(b) Reconciliation of net cost of operations to current year appropriations available for use:
(in thousands of dollars)
Forecast
2011
Forecast
2010
Net Cost of Operations
32,265
33,467
Ajustments for items affecting net cost of operation but not affecting appropriations:
Services provided without charge by other government departments
(1,386)
(1,442)
Employee severance benefits
(15)
14
Amortization of tangible capital assets
(84)
(91)
Allowance for vacation and compensatory leave
(11)
71
Revenue not available for spending
-
-
Other
 
(1,496)
(1,448)
 
Adjustments for items not affecting net cost of operations but affecting appropriations:
Acquisitions of tangible assets
70
70
 
70
70
Current year appropriations available for use
30,839
32,089


6. Tangible capital assets
Cost
(in thousands of dollars)
Opening Balance
Acquisitions
Disposals and write-offs
Closing Balance
Machinery and equipement
44
-
-
44
Informatics hardware
1,160
40
-
1,200
Informatics purchased and developed software
414
26
-
440
Other equipement, including furniture
382
4
-
386
 
2,000
70
-
2,070
         
Accumulated amortization
(in thousands of dollars)
Opening Balance
Amortization
Disposals and write-offs
Closing Balance
Machinery and equipement
37
4
-
41
Informatics hardware
903
44
-
947
Informatics purchased and developed software
256
10
-
266
Other equipement, including furniture
360
26
-
386
 
1,556
84
-
1,640
 
Net Book Value

(in thousands of dollars)
   
Forecast
2011
Forecast 2010
Machinery and equipment    
3
7
Informatics hardware    
253
257
Informatics purchased and developed software    
174
158
Other equipment, including furniture    
-
22
Net Book Value    
430
444

Forecasted amortization for the year ended March 31, 2011 is $84K (91K in 2010)
 
7. Employee benefits

(a) Pension benefits:
The department's employees participate in the Public Service Pension Plan, which is sponsored and administered by the Government of Canada. Pension benefits accrue up to a maximum period of 35 years at a rate of 2 percent per year of pensionable service, times the average of the best five consecutive years of earnings. The benefits are integrated with Canada/Québec Pension Plans benefits and they are indexed to inflation.

Both the employees and the department contribute to the cost of the Plan. The 2010-11 expense amounts to $845,000 ($805,000 in 2009-10).

The department's responsibility with regard to the Plan is limited to its contributions. Actuarial surpluses or deficiencies are recognized in the financial statements of the Government of Canada, as the Plan's sponsor.

(b) Severance benefits
The department provides severance benefits to its employees based on eligibility, years of service and final salary. These severance benefits are not prefunded. Benefits will be paid from future appropriations. Information about the severance benefits, measured as at November 30th, is as follows:

 
(in thousands of dollars)    
Forecast
2011
Forecast 2010
Accrued benefit obligation, beginning of year    
1,514
1,528
Expense for the year    
223
194
Benefits paid during the year    
(208)
(208)
Accrued benefit obligation, end of year  
1,529
1,514
 
8. Related party transactions

The department is related as a result of common ownership to all Government of Canada departments, agencies, and Crown corporations.  The department enters into transactions with these entities in the normal course of business and on normal trade terms.  Also, during the year, the department received services which were obtained without charge from other Government departments as presented in part (a).

(a) Services provided without charge by other government departments:

During the year the department received without charge from other departments, accommodation, the employer's contribution to the health and dental insurance plans, and legal services.  These services without charge have been recognized in the department's Statement of Operations as follows:

 
(in thousands of dollars)  
Forecast
2011
Forecast 2010
Accomodation    
795
856
Employer's contribution to the health and dental insurance plans  
585
579
Legal services    
6
6
     
1,386
1,441

The Government has structured some of its administrative activities for efficiency and cost-effectiveness purposes so that one department performs these on behalf of all without charge.  The costs of these services, which include payroll and cheque issuance services provided by Public Works and Government Services Canada and audit services provided by the Office of the Auditor General, are not included as an expense in the department's Statement of Operations.

(b) Payables and receivables outstanding at year-end with related parties:

 
(in thousands of dollars)    
Forecast
2011
Forecast 2010
Account receiveble with other government departments and agencies
71
71
Accounts payable to other government departments and agencies
126
126