Planning and Reporting

Financial Statements

2012-2013 (Future-oriented)

Status of Women Canada
Statement of Management Responsibility

Responsibility for the compilation, content, and presentation of the accompanying future-oriented financial statements for the years ending March 31, 2012 and 2013 rests with departmental management.

Management is responsible for the information contained in these future-oriented financial statements and for the process of developing assumptions. Assumptions and estimates are based upon information available and known to management as at December 16th, reflect the plans described in the Report on Plans and Priorities and 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
Coordinator, Status of Women Canada
Ottawa, Canada

Johanne Tremblay
A/Chief Financial Officer

February 24, 2012

Status of Women Canada
Future-oriented Statement of Financial Position (Unaudited)
As at March 31
(in thousand of dollars) Forecast 2013 Forecast 2012
Assets
Financial Assets
Due from Consolidated Revenue Fund 3,448 3,448
Accounts receivable and advances 39 39
Total financial assets 3,487 3,487
 
Non-financial assets
Tangible capital assets (Note 6) 294 260
Total non-financial assets 294 260
 
Total Assets 3,781 3,747
 
Liabilities
Accounts payable and accrued liabilities 3,119 3,119
Vacation pay and compensatory leave 341 334
Employee future benefits (Note 7) 1,410 1,389
Total Liabilities 4,870 4,842
 
Equity of Canada (1,089) (1,095)
 
Total Liabilities and Equity of Canada 3,781 3,747

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

Suzanne Clément
Coordinator, Status of Women Canada
Ottawa, Canada

Johanne Tremblay
A/Chief Financial Officer

February 24, 2012

Status of Women Canada
Future-oriented Statement of Operations (Unaudited)
For the year ending March 31
(in thousand of dollars) Forecast 2013 Forecast 2012
Expenses
Women's participation in Canadian society 24,485 24,607
Strategic policy analysis, planning and development 2,037 2,097
Internal Services 4,317 5,500
Total Expenses 30,839 32,204
 
Net Cost of Operations 30,839 32,204

Segmented information (note 9)

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

Status of Women Canada
Future-oriented Statement of Equity of Canada (Unaudited)
For the year ending March 31
(in thousand of dollars) Forecast 2013 Forecast 2012
Equity of Canada, beginning of year (1,095) (1,877)
Net cost of operations (30,839) (32,204)
Net cash provided by Government 29,422 32,159
Change in due from Consolidated Revenue Fund - (653)
Services provided without charge by other government departments (Note 8) 1,423 1,480
Equity of Canada, end of year (1,089) (1,095)

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

Status of Women Canada
Future-oriented Statement of Cash Flow (Unaudited)
For the year ending March 31
(in thousand of dollars) Forecast 2013 Forecast 2012
Operating activities    
Net Cost of Operations 30,839 32,204
Non-cash items    
Amortization of tangible capital assets (Note 6) (83) (84)
Services provided without charge by other government departments (Note 8) (1,423) (1,480)
Variations in Statement of Financial Position    
Increase in accounts receivable and advances - 14
Decrease (increase) in liabilities (28) 1,388
Cash used in operating activities 29,305 32,042
 
Capital investing activities    
Acquisitions of tangible capital assets (Note 6) 117 117
Cash used in capital investing activities 117 117
 
Net cash provided by Government of Canada 29,422 32,159

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

Status of Women Canada
Notes to the Future-oriented Financial Statements (Unaudited)
For the Year Ending March 31

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: Equality for women and their full participation in the economic, social, and democratic life of Canada. To achieve real progress on gender equality, SWC is firmly committed to consulting and acting in partnership with non-government organizations, provincial and territorial governments, the private and voluntary sectors and international organizations.

Program Activities

  • Women's Participation in Canadian Society: This activity strengthens 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: SWC develops 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.

  • Internal Services: are groups of related activities and resources that are administered to support the needs of programs and other corporate obligations of an organization. These groups are: Management and Oversight Services; Communications Services; Legal Services; Human Resources Management Services; Financial Management Services; Information Management Services; Information Technology Services; Real Property Services; Materiel Services; Acquisition Services; Travel and Other Administrative Services. Internal Services include only those activities and resources that apply across an organization and not to those provided specifically to a program.
2. Underlying Assumptions

The future-oriented financial statements have been prepared on the basis of the government priorities and the plans of the department as described in the Report on Plans and Priorities.

The main assumptions are as follows:

  1. The department's activities will remain substantially the same as for the previous year.
  2. Expenses and revenues, including the determination of amounts internal and external to the government, are based on historical experience, trend analysis and other analytical methodologies. The general historical pattern is expected to continue.
  3. Allowances for uncollectibility are based on historical experience. The general historical pattern is expected to continue.
  4. Estimated year end information for 2011-12 is used as the opening position for the 2012-13 forecasts.

These assumptions are adopted as at December 16th, 2011

3. Variations and Changes to the Forecast Financial Information

While every attempt has been made to accurately forecast final results from 2011-12 to 2012-13, actual results achieved are likely to vary from the forecast information presented, and this variation could be material.

In preparing these financial statements Status of Women Canada has made estimates and assumptions concerning the future. These estimates and judgements may differ from the subsequent actual results. Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Factors that could lead to material differences between the future-oriented financial statements and the historical financial statements include:

  1. The timing and amounts of acquisitions and disposals of property, plant and equipment may affect gains/losses and amortization expense.
  2. Further changes to the operating budget through additional new initiatives or technical adjustments later in the year.

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

4. Summary of Significant accounting policies

These future-oriented statements have been prepared in accordance with the Treasury Board accounting policies stated below, which are based on Canadian generally accepted accounting principles for the public sector. The presentation and forecasts using the stated accounting policies do not result in any significant differences from Canadian generally accepted accounting principles.

Significant accounting policies are as follows:

  1. Parliamentary authorities

    The Department is financed by the Government of Canada through Parliamentary authorities. Financial reporting of authorities provided to the Department do not parallel financial reporting according to generally accepted accounting principles since authorities are primarily based on cash flow requirements. Consequently, items recognized in the Statement of Operations and the Statement of Financial Position are not necessarily the same as those provided through authorities from Parliament. Note 5 provides a reconciliation between the bases of reporting.

  2. 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 government.

  3. Amounts due from/to the Consolidated Revenue Fund

    Amounts due from/to the Consolidated Revenue Fund (CRF) are the result of timing differences at year-end between when a transaction affects authorities and when it is processed through the CRF. Amounts due from the CRF represent the net amount of cash that the Department is entitled to draw from the CRF without further appropriations to discharge its liabilities.

  4. Revenues

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

  5. Expenses

    Forecasted expenses are recorded on the accrual basis:
    • 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, provided that the transfer is authorized and a reasonable estimate can be made.

    • Vacation pay and compensatory leave are accrued as the benefits are earned by employees under their respective terms of employment.

    • Services provided without charge by other government departments for accommodation, employer contributions to the health and dental insurance plans and legal services are recorded as operating expenses at their estimated cost.
  6. Employee future benefits
    1. Pension benefits: Eligible employees participate in the Public Service Pension Plan, a multiemployer plan administered by the Government. 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.
  7. Accounts receivable

    Forecasted accounts receivable are stated at the lower of cost and net recoverable value; a valuation allowance is recorded for receivables where recovery is considered uncertain.

  8. Tangible capital assets

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

    Asset Class Acquisition Cost equal or greater than Amortization Period
    Machinery and equipment $2,500 3-5 years
    Informatics hardware $2,500 3-5 years
    Informatics purchased and developed software $2,500 3-5 years
    Other equipment, including furniture $2,500 3-5 years
5. Parliamentary Authorities

The Department receives most of its funding through annual Parliamentary authorities. 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 authorities 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) Reconciliation of net cost of operations to current year appropriations available for use:

(in thousand of dollars) Forecast 2013 Forecast 2012
Net Cost of Operations 30,839 32,204
Adjustments for items affecting net cost of operations but not affecting appropriations:    
Add (Less):    
Services provided without charge by other government departments (1,423) (1,480)
Employee future benefits (21) (20)
Amortization of tangible capital assets (83) (84)
Allowance for vacation and compensatory leave (7) (10)
Other - 70
  (1,534) (1,524)
Adjustments for items not affecting net cost of operations but affecting appropriations:    
Acquisitions of tangible capital assets 117 117
Current year appropriations available for use 29,422 30,797

 

(b) Authorities provided available for use:

(in thousand of dollars) Forecast 2013 Forecast 2012
Operating expenditures 9,246 9,270
Grants and Contributions 18,950 18,950
Transfer from TB – Vote 25 (Carry Forward) - 486
Transfer from TB – Vote 30 (Paylist) - 838
  28,196 29,544
Contributions to employee benefit plan 1,226 1,253
Current year appropriations available for use 29,422 30,797
6. Tangible capital assets
Cost
(in thousand of dollars) Opening Balance Acquisitions Closing Balance
Machinery and equipment 28 - 28
Informatics hardware 633 82 715
Informatics purchased and developed software 196 25 221
Other equipment, including furniture 292 10 302
  1,149 117 1,266

Accumulated amortization
(in thousand of dollars) Opening Balance Amortization Closing Balance
Machinery and equipment 28 - 28
Informatics hardware 494 37 531
Informatics purchased and developed software 140 12 152
Other equipment, including furniture 228 34 262
  890 83 973

Net Book Value
(in thousand of dollars) Forecast 2013 Forecast 2012
Machinery and equipment - -
Informatics hardware 184 139
Informatics purchased and developed software 69 56
Other equipment, including furniture 40 64
Net Book Value 293 259
7. Employee future benefits
(a) Pension benefits

The Department's employees participate in the Public Service Pension Plan, which is sponsored and administered by the Government. 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 forecasted expenses are $902,000 for 2011-12 and $882,000 for 2012-13.

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 pre-funded. Benefits will be paid from future authorities. Information about the severance benefits, measured as at March 31, is as follows:

(in thousand of dollars) Forecast 2013 Forecast 2012
Accrued benefit obligation, beginning of year 1,389 1,369
Forecasted expense for the year 121 233
Benefits paid during the year (100) (213)
Accrued benefit obligation, end of year 1,410 1,389
8. Related party transactions

The Department is related as a result of common ownership to all Government departments, agencies, and Crown Corporations. The Department enters into transactions with these entities in the normal course of business and on normal trade terms. During the year, the Department received common services which were obtained without charge from other Government departments as disclosed below.

(a) Common services provided without charge by other government departments

The Department will receive services without charge from certain common service organizations, related to accommodation, legal services and the employer's contribution to the health and dental insurance plans. These services provided without charge have been recorded in the Department's future-oriented Statement of Operations as follows:

(in thousand of dollars) Forecast 2013 Forecast 2012
Accommodation 831 817
Employer's contribution to the health and dental insurance plans 592 663
Legal services - -
Total 1,423 1,480

The Government has centralized some of its administrative activities for efficiency, cost-effectiveness purposes and economic delivery of programs to the public. As a result, the Government uses central agencies and common service organizations so that one department performs services for all other departments and agencies without charge. The costs of these services, such as 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 in the Department's future-oriented Statement of Operations.

(b) Other forecasted transactions with related parties
(in thousand of dollars) Forecast 2013 Forecast 2012
Accounts receivable – other government departments and agencies 30 30
Accounts payable - other government departments and agencies 147 147
9. Segmented information

Presentation by segment is based on the Department's program activity architecture. The presentation by segment is based on the same accounting policies as described in the Summary of significant accounting policies in note 2. The following table presents the forecasted expenses for the main program activities, by major object of expenses. The segment results for the period are as follows:

(in thousand of dollars) Forecast 2013 Forecast 2012
  Women's Participation in Canadian Society Strategic Policy Analysis, Planning and Development Internal Services Total Total
Transfer payments          
Payments to Provincial non–profit organizations 14,718 - - 14,718 14,718
Payments to national organizations 4,232 - - 4,232 4,232
Total transfer payments 18,950 - - 18,950 18,950
 
Operating expenses          
Salaries and employee benefits 4,479 1,597 2,735 8,811 9,678
Professional and special services 314 118 625 1,057 1,307
Accommodation 424 151 256 831 817
Travel and relocation 135 107 170 412 510
Communication 74 19 129 222 274
Information 19 12 115 146 180
Machinery and equipment 39 12 69 120 148
Repair and maintenance 20 6 59 85 106
Amortization of tangible capital assets - - 83 83 84
Rentals 19 10 32 61 74
Utilities, material and supplies 11 5 43 59 73
Other 1 - 1 2 3
Total Operating expenses 5,535 2,037 4,317 11,889 13,254
 
Net cost from operations 24,485 2,037 4,317 30,839 32,204